how to start business management essay

How to Write a Business Essay: an Ultimate Guide

Table of Contents

Writing an essay can be boring. A lot of essays are basically the same thing over and over again. You write an introduction, then you write your supporting paragraphs, and then you create a conclusion. Overall, the process is not a lot of fun, and you can often feel as though you are simply going through the motions for the sake of churning out extra work. But since you have to write an essay, it’s worth considering the many ways that you can make the process faster and easier. In this ultimate guide, we’ll discuss the best way to write a business essay so you can get through the process faster and with relatively little trouble.

It might seem obvious, but the first thing you need to do when you write an essay is to read the essay question. You need to be sure you understand each part of the essay question and how the parts of the question work together. You would be surprised how many students only glance at the question and then write a paper that only partially addresses the assignment. You don’t want to lose points because part of your paper isn’t on topic. If you find any parts of the paper that you don’t understand or that require explanation, be sure to contact your instructor for clarification before you start writing.

Read the essay rubric

These days, most essays have a grading rubric included with the question. A grading rubric is like a cheat sheet for writing your essay. When you review the essay rubric, you’ll see exactly how your instructor will grade your paper and what your instructor will be looking for. When you write your paper, you will therefore know exactly what to include and how to write about it in order to maximize your points—and you’ll also see what you can spend less time on because it won’t contribute to your overall grade.

Make friends with your library

Many students automatically turn to search engines like Google in order to research their papers, but this is not the most effective way to find high-quality business sources for your paper. Instead, take advantage of your library’s databases. Your college or university library will likely have dedicated business databases that collect high-quality academic articles on business topics. Using these resources in your paper will make your essay stronger and more effective, and it will put your paper on a solid academic footing.

Compile your sources before you write

Many students use the start-and-stop method to write their papers, composing a sentence or two and then stopping to look up more information in order to keep going. This, however, is an inefficient way to work. A better way is to read through your research sources before you start and copy into a separate file a series of quotations and facts that you might use in your paper, creating in-text citations and reference list entries for each before you start. Doing so will make sure that you don’t have to stop for research and have a ready bank of pre-cited material to work with as you write.

Outline before you write

Outlining is an important skill that will both save you time and improve the quality of your essay. Take time before you write to lay out your paper from beginning to end. Start with your thesis statement and carefully lay out the body paragraphs with a topic sentence, supporting details (including research, quotes, and citations ), and a closing paragraph . Plan your transitions to link paragraphs together. Any amount of outlining can be helpful, but the more effort that you put into outlining at this stage, the easier it will be to write your paper, and the less likely it will be that you get stuck in a tangent that goes nowhere or meander into a point that requires you to change your thesis and revise you whole essay.

Remember to revise and proofread

When you finish the draft of your paper, you aren’t done yet. The first draft is rarely the finished product. You should always set aside time to read your work back and to make revisions to make it clearer. You also need to carefully proofread for mechanical grammar, punctuation, and syntax issues to ensure that your paper is as close to perfect as possible. You don’t want to leave points on the table because your paper had easy to fix minor spelling or grammar errors.

Consider professional writing help

Another great way to get your paper done quickly is to seek out custom professional help from an essay writing service with academic experts. An online writing company such as this can create business papers for college students and deliver them fast. When you utilize professional writing assistance, you can receive a custom-written essay that can serve as a great model to help you understand how a professional would approach your business topic and organize and develop an essay to address your assignment. Using a model such as this can save you time and effort as you work on your own paper, allowing you to focus on the learning process more than the mechanics of academic essay writing.

Join the thousands who have sharpened their business writing skills with our award winning courses.

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How to Write a Business Management Essay

• Essay Writing Guides

Is writing an excellent business essay possible? Yes, if you know how to go about it. A perfect leadership vs management essay makes a huge difference in your future career. It lets you show mastery of the career field you wish to pursue. This post shares practical ideas for composing a business management paper. Read on to learn more.

Understand Your Prompt and Topic

Start by analyzing your paper’s prompt to understand it. Pay attention to the instructions to grasp what your tutor expects from you. This stage lets you follow your professor’s preferred format or writing style. You will also be better positioned to know your instructor’s scope for the essay about business management.

Choose a Topic for Your Business Management Essay

Select an appropriate title for your business school essay unless your lecturer gave you a topic. You must brainstorm a topic that enables you to write smoothly. The chosen topic should also be broad enough to cover all the critical issues and narrow enough to manage within your assigned word count. Ensure the topic is interesting to inspire your research and writing.

Research Your Topic

Research is critical to your business essay writing. It helps you gather all the necessary materials to include in your assignment. This stage lets you use credible sources to defend your thesis and give your paper academic credibility. You will also be better positioned to support all your arguments with facts.

You can research your paper using different online and offline sources. Here are some bulletproof suggestions for your consideration.

Class Materials

Class materials are valuable information sources for your business essay. You should sort all these materials in order. If you missed anything in class, ask your classmates to give their notes for your independent work.

Hardcover books are another source of valuable information for researching business essay topics. You can get them from your school or personal library. These publications from reputable experts in business will give sufficient support for your arguments.

Online Sources

You may also get invaluable data from online publications and academic platforms. Search the internet and compile a set of credible journals and articles as the evidence base for your assignment. You may download or bookmark these sources for easy use. Some options to use are:

• Relevant journals and studies.
• Publications from leading media houses.
• Essays from authoritative experts.
• News articles and press releases.

Outline Your Essay About Management

You should outline your paper after finishing your research. Follow your professor’s preferred business essay format. Outlining your paper correctly orders your assignment, such as a time management essay. An average business essay format looks as follows.

Introduction

This opening section serves these purposes:

• Quickly introduces your topic and its significance.
• Briefly discusses the dimensions of the topic you’re analyzing.
• Presents a clear thesis statement.

Body paragraphs

Your essay on business will usually have a body section with three to four paragraphs.

• A sentence paragraph that introduces the first argument.
• Supporting evidence for your first idea.
• A logical transition to the second point.
• A sentence paragraph that introduces the second argument.
• Supporting proof for the second point.
• A logical transition to the third idea.
• A topic sentence introducing the third argument.
• Supporting evidence for the third point.
• A logical transition to the fourth idea or conclusion

Argument 4 (optional)

• A topic sentence introducing the first idea.
• Supporting proof for the first point.
• A logical transition to the conclusion.

The conclusion serves these purposes.

• Quickly restates your main body paragraph ideas.
• Restates your thesis statement.
• It proves your thesis statement’s relevance in real-life business settings.

Read Business Essay Examples

Reading a business essay example boosts your writing skills and expands your academic horizons. This path is necessary if you don’t excel in writing yet. Thus, a well-selected sample shows you what an excellent management essay should entail, how a great author introduces and defends arguments, and how to use sources to back up your opinions and arguments.

Start Composing Your Essay On Leadership and Management

Now that you are sure of what you are doing, start your assignment. You should write the paper within your tutor’s given word count. Please don’t exceed the scope or write below it. Otherwise, you could lose good grades. When drafting, pay attention to the following details.

• Compose your paper formally using correct grammar and spelling.
• Don’t use slang.
• Don’t use short verb forms.
• Write with an authoritative voice.
• Present your arguments confidently.
• Provide facts or evidence for your arguments.
• Utilize proper paragraphing.
• Space your paper correctly.
• Use in-text citations when necessary.
• Create a bibliography for the sources you utilized.

Polish Your Essay on Business Management

Polish your assignment before handing it to your professor. Check it thoroughly by rereading the text two to three times. Give the paper to your trusted classmate to catch any errors you might have overlooked. Remember to check it for originality to avoid serious plagiarism problems.

Your refining process should also pay attention to the following issues:

• Check how your ideas flow.
• Ensure consistency in your arguments.
• Double-check that all your citations are present and correct.
• Make sure you adhere to the format and all the guidelines.
• Remove all fluff.
• Check whether the paper fits your assigned word count.
• Get Expert Assistance If Necessary

What if you don’t have the time or skills to write a business paper that fetches excellent grades? Don’t despair because you can hire a business essay writer. A professional will help you with your project management essay if you face difficulties or fear getting low grades. External help is also handy when you have pressing deadlines. It ensures you don’t lag behind your classmates.

Closing Remarks on Writing a Perfect Essay On Management

You are now abreast of everything you need to compose an excellent essay about business. Follow these guidelines to sharpen your writing skills. But should you need external help, our essay writing business is here on standby to assist you. Talk to us today.

• Academic Writing Guides
• Citation Guides
• Essay Samples
• Essay Topics
• Research Paper Topics
• Research Paper Writing Guides
• Study Tips and Tricks

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Write Your Successful Business Management Essay

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In miscellaneous.

In this Article

How to Write a Business Management Essay

Choose the business essay format, brainstorm for business essay topics.

• Project Management Essay: Key Points

Business Management Essay Writing: Step to Success

A business essay is a short piece in which the author highlights some problems or business ideas and his achievements. Applicants, students and employees can write such an essay.

Features of the business management essay are:

• informativeness;
• business style;
• logical structure;
• semantic balance;
• interesting presentation of information.

Writing such an essay develops artistic imagination. You must have the ability to share your thoughts and write them on paper. The style of business essay writing is similar to a conversational genre, such as monologue. It’s not very difficult to write such an essay, but sometimes students need to get help from mycustomessay.com/business-management.html . Professional authors can do this work without any effort.

The main difference between a business essay and other types of work is a clear structure. In such an essay, you cannot simply express your thoughts freely. The information should be logical and clear.

Before starting to write a business management essay , try to consider the problem from different positions. Think about the composition of your work. Gather any information that can spark a discussion and will be interesting for the reader. There are several steps to write your perfect essay. This will help you to make a high-quality paper.

First, you need to analyze the problem you have chosen for your essay. Figure out what is the main point of your text. When you analyze all these points, you can look for essential information. If you do not understand the meaning of your business essay, it will be difficult for your readers too.

The next important step is to research the material for your business essay. Find interesting facts and some thoughts that you want to use in your text. At this stage, you need to structure all the researched information. In such a way you’ll not forget to indicate something important.

After the preparatory work, you can start writing the main text of the business essay. If you do everything right, then putting all the material together will be more easier. The main thing is to make a clear structure and plan. This is the first step to success. Then you won’t have any problems with everything else.

Although everyone studied at school and knew how to write an essay, not everyone knew how to work with an essay. To write an essay correctly, you need to clearly understand the style of the given text and for whom you are writing it. You can search for a sample essay on the Internet to review its design and format.

To make your business essay interesting and informative, keep these tips in mind:

• First, study carefully and analyse the topic. Mention any information about your work. Write down all your thoughts. Then you can use them.
• Structure all the collected material. Divide your text into paragraphs. In each paragraph, you should state the thesis, arguments, and examples.
• It is better to write the main part first, and then make an introduction and conclusion. Then you will have all the information and you can easily handle it.
• Read the finished essay and check it for errors and plagiarism.
• Have someone else read the essay and then proofread it again. This way you can see any mistakes or misunderstandings.

If you take into account all the requirements, including your creativity, you will write a professional text.

You look for the topic of your business essay? Pay attention to relevance and informativeness. If the teacher did not give you a list of topics, then you can generate ideas for the text by yourself. First, be sure to consider who will be the reader and why you write this work. Choose a topic that will be interesting not only to you but also to your readers. 

In your business essay, you must demonstrate your abilities to argue, clearly express your thoughts, defend a position and present a topic originally. So, it will be easy and interesting for you to work. When choosing a topic, pay attention to your interests. Maybe there is a problem that you would like to highlight, or you have a quality new solution. In any case, individuality, sincerity, and uniqueness in choosing a topic and writing a work are especially appreciated.

Project Management Essay : Key Points

Students who need to write a project management essay must apply unique skills and methods. The purpose of such an essay is to inform the reader about the field of study. When students learn how to write a project management essay, they need to do research according to the information and experience they have.

Whoever writes such an essay for the first time can make some mistakes. But if you find the most common mistakes, you can avoid them.

We have identified the main ones:

• Sometimes the author is afraid that he will not be understood that way. This prevents you from fully opening up and expressing your thoughts when writing. In this case, the essay loses its uniqueness.
• Sometimes the writer does not fully reveal the details. This is a mistake. If statements and arguments are not confirmed in the text, then you cannot fully convince your reader.
• When the author does not understand the topic well, he cannot fully reveal it and draw the necessary conclusions.
• You cannot describe someone else’s opinion in your text without mentioning its author. This means that you lack your thoughts or you do not have your position on this or that problem. 

The advantage of this genre is that there are no frameworks and restrictions. You can freely write and reflect, describe your impressions and thoughts, ask questions and search for solutions. If you avoid common mistakes, you can get a great result.

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How to Write a Powerful MBA Essay—With Examples

The MBA essay is critical to your business school application. Read our guide to writing the perfect MBA essay, with successful admit examples.

Posted April 4, 2024

Featuring Geri T. and Andy P.

Applying to Top MBA Programs as a Consultant

Wednesday, april 24.

11:00 PM UTC · 60 minutes

Table of Contents

What is the mba essay.

The MBA admissions essay.

Those words alone are enough to make most MBA candidates run screaming. Writing in general is hard enough. Writing about why you want an MBA? Your short-term goals and career aspirations? What matters to you most, and why? Forget it.

Of course, you still have to write these essays.

The MBA essay is perhaps  the most important part of the business school application. (It's also getting more and more important by the day, with some business schools moving away from traditional, quantitative measuring sticks, like the GMAT and the GRE.) Every other part of the application — your GPA, your test scores, your letters of recommendation — are quantified, cut and dried, or out of your control. The essay is your chance to show up as a fully realized MBA candidate, with hopes, dreams, and vulnerabilities. Admissions committees are not simply assessing your candidacy as a future leader — they're looking to admit human beings. That's where the MBA applicant essays come in.

That being the case, rather than being intimidated by it, treat the essay like the opportunity that it is — the chance for you to highlight your unique, iridescent self; the only moment in the MBA admissions process (prior to the interview) when you can speak directly to the admissions officers; the time when you'll show them who you really are. It's not easy to write something that will do that, of course, but with the tips and tricks in this guide, and some help from one of Leland's vetted, world-class admissions coaches, we know you can do it. Give the essay the time, attention, and respect it deserves, and you'll be on your way to an offer of admission at your dream school.

Without further ado, let's dive in!

Ultimate MBA Essay Guide

See the MBA essay prompts, top tips from experts, and real examples from admits with this comprehensive guide.

How Long Will My MBA Essay Take?

First thing's first: let's talk about timing.

The MBA application is a behemoth; between exams, resumes, gathering your official transcripts, letters of recommendation, and the applications themselves, there's a lot to juggle. That being the case, we suggest you give yourself ample time to draft, write, and revise your essays. The last thing you want is to be rushed to the finish line.

So, give yourself  at least three months to write your MBA essays. That should allow you ample time to draft, write, and edit. For more information on timing your entire b-school application, click here for  A Comprehensive MBA Application Timeline--With Chart .

Now, on to the critical question:

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What Makes a Great MBA Essay?

At the highest level, the answer is the one that is truest to you. The whole point of these essays is to shine through as an authentic, vibrant human being, so the best essays are the ones that cut through the clutter, and allow you do to that.

Which begs the question — how  do you cut through the clutter and shine through as a vibrant human being? Here are four critical tips to follow as you begin thinking about your essays.

1. Answer the Question

This one sounds obvious, but you'd be surprised how many applicants launch into their story, get carried away, and forget to answer the question. Follow the prompt, and answer the question the admissions committee has asked you. Those prompts can actually be very useful when writing your essays — it's a great deal harder to write when you have no guidance or guardrails. With the MBA essays, you have a very specific question you need to answer. So answer it!

2. Be Specific

Another mistake some MBA applicants make is to stay at a high level in their essays, keeping their writing abstract and therefore inaccessible to the admissions committee. If at any point, an admissions officer could replace your name with the name of another applicant, then your essay isn't getting deep enough. It's not enough, for instance, to say that you suffered adversity in high school, or that you really, really want a Wharton MBA. You need to explain, in detail, the adversity you faced, and give concrete and unique reasons why you think Wharton is the right program for you. The best essays offer hyper-specific examples and anecdotes, with details and anecdotes that no other candidate could bring to the table. To get those anecdotes, we recommend using the STAR template, as explained below:

• Situation : What was the situation you were facing? Where were you? How old were you? If you were in a professional role during this anecdote, what was the role, and how long had you been in it? If you were volunteering, at what organization? How long had you been volunteering there? Why did you start? Offer all the relevant information that the admissions readers will need to understand your story.
• Task : What was the task at hand? What went wrong? In your professional role, what was the challenge you faced? In that volunteering experience, what were the hurdles you had to overcome? You can't have a good story without conflict or tension, so after you set up the anecdote, explain what that conflict or tension was (and remember, be specific!).
• Action : What was the action you took to resolve the problem? What did you have to do to fix that issue at work? How did you clear that hurdle in your volunteer experience? Again, be specific about how you came through on the other side of that conflict/tension — and while you're doing it, highlight your leadership capabilities as much as possible! Remember that top MBA programs are looking for future leaders who can assess a situation and decisively take action. (We'll say a bit more about this below, in the Personal Statement section.
• Result : What was the result of your action? If you were facing a growth problem at work, were you able to increase sales? If so, by what percentage? If you were advocating for diversity and inclusion at your local charity, what new programs did you implement to help with that effort, and what was the enrollment like in those new programs? Detail what happened in your anecdote with as much specificity as possible — and quantify, quantify, quantify!

3. Get Vulnerable

Most MBA admissions essay prompts are written with the goal of getting to know as much about you as possible in the shortest number of words. To do that, you're going to have to share real things from your life — to get personal, intimate, and vulnerable. Do not shy away from this. If you're starting to get emotional during the reflection, drafting, and writing process, good — that means you're on the right track. Keep going. Pro tip: If it’s making you cry, it will make them cry. Another good rule of thumb is to put something real and true on the table. Admissions officers have to read literally thousands of applications from thoroughly qualified individuals, some of whom might come from similar roles to yours, with letters of recommendation from equally impressive supervisors. In order to cut through that noise, you'll have to share something honest. If you're doing it right, this can feel risky. At some point, you’ll likely think to yourself: “Can I say that?” The answer is: “Yes.” Of course, there is a line, you don’t want to be crass or offensive but err on the side of being open and authentic. The very worst thing you can do is be overly cautious, and write something you think will please the admissions committee. These poor people have to read thousands of essays. If yours is just like everyone else’s, they’ll fall asleep. Don’t let that happen. Wake them up by putting yourself —your true, bright, vibrant, quirky self—on the page.

4. Don't Exaggerate

Finally, do not exaggerate, over-inflate, or lie. This goes without saying, but admissions committees are looking for honest candidates. The surest way to get rejected is to lie about something. (Business schools do a background check on you before you're properly admitted, so they will find out.) Don't be the person who over-inflates on their essays, then has their offer letter rescinded.

The Types of MBA Essays

All right — since we've covered high-level approaches to the MBA essays, it's time to dig into the various types.

There are three general categories of MBA essays you'll see across the board.

1. Personal Statement

These questions ask you to offer up something sincere about yourself. They'll often touch on such things as your values and your character. In these, you'll want to be as authentic as possible, while also highlighting attributes like leadership, intellectual vitality, and teamwork, that business schools are looking for. Here are a few examples of personal statement essays:

• As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program? (HBS)
• What matters most to you, and why? (Stanford GSB)

2. Why an MBA/Why This School

The next category of essays is the "Why an MBA" / "Why This School" set.

In these, schools first want to hear about how an MBA will fit into your career, both short and long term. Top MBA programs are looking for candidates who will: first of all, be gainfully employed upon graduating, second of all, have an illustrious career that will make their institution look good and encourage future generations of applicants to apply, and third, be consistent and generous donors. That being the case, they want to know about your career trajectory, and how an MBA will fit into it.

Pro tip: Here, you want to be ambitious and inspiring in laying out your future career, but not naïve. Walk the line between shooting for the stars and sounding dreamlike and uninformed.

In this set of questions, you'll also encounter questions geared at figuring out why you would want to attend a specific school. MBA programs want to know that you're serious about attending their school — yield, or the percentage of admitted candidates who accept their offers of admission, is an important metric for them — but they also want to envision how you'll contribute to their admitted class. What will you uniquely bring to the table, the things that you'll do that the other candidates wouldn’t be able to offer?

We've heard former deans of business schools say that, in choosing a class, they're curating a world-class dinner party, and that each person invited to the dinner party has to bring something different. What will you bring to the dinner party?

Pro tip: To demonstrate that you've done your research, and to help the admissions committee envision you in their program, indicate which classes you might take when earning your MBA and why, which professors you might hope to study with, and in which clubs you might participate.

Here are a few examples of "why MBA / why this school" essays:

• How is a Columbia MBA going to help you? (Columbia)
• What do you hope to gain professionally from the Wharton MBA? (Wharton)
• Why Stanford? Describe your aspirations and how your Stanford GSB experience will help you realize them. (Stanford GSB)

3. Behavioral/Other

Finally, most other essays will either be behavioral, asking you about experiences, traits, strengths, weaknesses, and achievements. There's a wide variety of topics here, but all the guidelines from above apply, with the final note to always prioritize authenticity (as mentioned in the Personal Statement section) and leadership ability (remember, business schools are choosing future leaders). Here are a few examples of behavioral/other essays:

• Describe the biggest commitment you have ever made. (Yale SOM)
• Tell us about your favorite book, movie, or song and why it resonates with you. (Columbia)
• Think about times you’ve created a positive impact, whether in professional, extracurricular, academic, or other settings. What was your impact? What made it significant to you or to others? (Stanford GSB)

Top MBA Program Essay Prompts (Updated 2022)

To help you get started, we've compiled the required prompts from a few top MBA programs below:

1. Harvard Business School (HBS)

As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program? (900 words)

For more information, visit A Guide to the HBS Essay .

2. Stanford Graduate School of Business

What matters to you most, and why? (650 words)

Why Stanford? (400 words)

Read What Matters Most When Writing the GSB Essays.

How do you plan to use the Wharton MBA program to help you achieve your future professional goals? You might consider your past experience, short and long-term goals, and resources available at Wharton. (500 words)

Taking into consideration your background – personal, professional, and/or academic – how do you plan to make specific, meaningful contributions to the Wharton community? (400 words)

For Wharton-specific advice, visit A Guide to the Wharton Essays .

4. Columbia Business School

Essay 1: Through your resume and recommendation, we have a clear sense of your professional path to date. What are your career goals over the next three to five years and what, in your imagination, would be your long-term dream job? (500 words)

Essay 2: The Phillips Pathway for Inclusive Leadership (PPIL) is a new co-curricular program designed to ensure that every CBS student develops the skills to become an ethical and inclusive leader. Through PPIL, students attend programming focused on five essential diversity, equity, and inclusion skills: Creating an Inclusive Environment, Mitigating Bias, Communicating Across Identities, Addressing Systemic Inequity, and Managing Difficult Conversations. Tell us about a time you were challenged around one of these five skills. Describe the situation, the actions you took, and the outcome. (250 words)

Essay 3: We believe Columbia Business School is a special place. CBS proudly fosters a collaborative learning environment through curricular experiences like our clusters and learning teams , an extremely active co-curricular and student life environment, and career mentorship opportunities like our Executives-in-Residence program .Why do you feel Columbia Business School is a good fit for you academically, culturally, and professionally? Please be specific. (250 words)

5. Chicago Booth

How will the Booth MBA help you achieve your immediate and long-term post-MBA career goals? (250-word minimum)

An MBA is as much about personal growth as it is about professional development. In addition to sharing your experience and goals in terms of your career, we’d like to learn more about you outside of the office. Use this opportunity to tell us something about who you are… (250-word minimum)

Read more at A Guide to the Booth Essays .

6. Kellogg Northwestern

Kellogg’s purpose is to educate, equip and inspire brave leaders who create lasting value. Provide a recent example where you have demonstrated leadership and created value. What challenges did you face and what did you learn? (450 words)

Values are what guide you in your life and work. What values are important to you and how have they influenced you? (450 words)

Read How to Nail Your Kellogg MBA Application Essays

7. MIT Sloan

MIT Sloan seeks students whose personal characteristics demonstrate that they will make the most of the incredible opportunities at MIT, both academic and non-academic. We are on a quest to find those whose presence will enhance the experience of other students. We seek thoughtful leaders with exceptional intellectual abilities and the drive and determination to put their stamp on the world. We welcome people who are independent, authentic, and fearlessly creative — true doers. We want people who can redefine solutions to conventional problems, and strive to preempt unconventional dilemmas with cutting-edge ideas. We demand integrity, respect, and passion.

Taking the above into consideration, please submit a cover letter seeking a place in the MIT Sloan MBA program. Your letter should conform to standard business correspondence, include one or more professional examples that illustrate why you meet the desired criteria above, and be addressed to the Admissions Committee (300 words or fewer, excluding address and salutation)

Applicants are required to upload a 1 minute (60 seconds) video as part of their application. In your video, you should introduce yourself to your future classmates, tell us about your past experiences, and touch on why MIT Sloan is the best place for you to pursue your degree.

How to Start Your MBA Essay

So you've read about the types of essays, and seen some of the prompts from top MBA programs. Now it's time to actually start diving into the essay.

The very first thing to do, before putting pen to paper, is to look inward.

Why do  you want an MBA? What role will this degree play in your professional growth? How do you imagine it will shape your life? What do you want out of your career? What is the most important thing in the world to you?

Yes, these are life’s deep-end questions, but you’ll need to tackle them in these essays, so before you start writing, take the time to think through them. Go for a run, swim some laps, bake a cake—however you get into the flow — and start a dialogue with yourself. Put down your work, turn your phone off, and give your mind permission to go to the places it usually avoids. That’s a good place to start. That’s where the answers are.

Pro tip: The first sentence is the hardest one to write. When you're starting out if it can intimidating and anxiety-producing. The trick is to simply put  anything  down — and don't look back. Keep putting one sentence after the other. You can edit later: let whatever comes to you out onto the page. If you’re struggling with self-critique, dim your computer screen until you can’t even see the words you’re typing. Then keep going.

Additional Tips & Tricks

Once you've started your essay, it's a matter of persistence: keep writing, then keep drafting and editing until you have something you're really proud of.

To help you with that process, here are a few more tips and tricks:

• Take Breaks

When you hit the wall — you will hit the wall — stop. This is your brain telling you it needs to do something else. Walk your dog. Take a lap around your room. Eat some cheese. Your body needs sleep every night to function; your mind is the same way. That next leap of inspiration will come exactly at the moment when you’re least expecting it.

• Read it Out Loud

When you finally have a draft, print it and read it out loud to yourself. Your ear will catch things your eyes miss. Reading out loud is the best way to pick up on spelling errors, clunky transitions, and paragraphs that still need ironing out. It’s also a good way to envision how the admissions committee will experience your essay.

Don’t be precious with your essay. Send it to anyone willing to read it. Solicit as much feedback as you can. If you don’t like what people have to say, you don’t have to incorporate it, but you need an impartial third party to give notes on what they’re seeing, thinking, and feeling. (You’re too close to things to do it for yourself.) This is where a Leland coach comes very much in handy!

• Complete Everything Early

This is more of a timing consideration, but you do not want to trip at the finish line because your internet went down the night before the deadline, or your credit card was denied when paying your application fee (it's happened before). Don't let that be you!

Here is another article to get you started, written by an expert essays coach: 7 MBA Essay Tips to Make You Stand Out in 2022 .

Example MBA Essays

Finally, here are two essays to help inspire you. The first, a personal statement essay, was submitted by an admit to Berkeley Haas' Executive MBA program; the second, a career goals / why MBA essay, was submitted by an admit to Chicago Booth's deferred MBA program.

Haas Admit:

A person’s identity is shaped by many different aspects, including family, culture, personal interests, and surrounding environments. Please share a facet of your identity or story that is essential to who you are. (300 words) My upbringing in India, filled with countless myths and legends, had a profound influence on me. The most formative tale was about a sage who prays for years to the goddess of knowledge, but in vain. In the end, the goddess didn’t appear for the sage because he was turning his prayer beads the wrong way! As a child, this story upset me: the sage worked so hard and had the right intentions. As an adult, though, I’ve come to realize that the goddess of knowledge was right: you can’t succeed unless you do things the right way. Seven years ago, two friends and I started a company, XXXX: a digital health platform that would allow patients to store medical records online and consult doctors remotely. We had early success—we brought on 2,000 patients at XXXX, a gynecology clinic in XXXX—but ultimately we didn’t have the resources to properly scale, and had to shut the company down. Among the many lessons I learned, the most valuable was that ideas and hard work are common; businesses succeed or fail based on execution—on doing things the right way. Two years ago, I relearned this lesson in the most painful way possible: when my marriage ended. My wife and I loved each other, but we weren’t there for each other when it mattered most. Our feelings weren’t enough—we had to back them up with the right actions. It’s disheartening when you have good intentions but still fall short. When this happens, though, you have to keep trying—because eventually you will do things the right way. I carry the story of the sage with me always, not as a harsh lesson, but as a motivating goal: one that keeps me striving towards doing things the right way.

Booth Admit:

How will the Booth MBA help you achieve your immediate and long-term post-MBA career goals? (250 word minimum)

I want to start a geothermal company that will help lead the energy transition away from fossil fuels and toward renewable energy—by targeting existing oil wells as sites for geothermal plants. Oil fields are close to electric grids and have high nearby subsurface temperatures, making them ideal sites for geothermal plants. By building geothermal infrastructure nearby, my company will produce cleaner, cheaper energy, making it more profitable for operators to switch from oil to geothermal. As oil companies decommission their wells, I’ll negotiate for their land rights, so I can use their existing wells for new geothermal vents. I want my company to prove the case for economically viable, carbon neutral energy production. After getting an MBA I want to start a geothermal company which will help me lead the energy transition away from fossil fuels to renewable energy. I plan to target developed oil fields in Texas, where, in many places, producing wells are flowing enough hot fluid to generate clean energy. Using this geothermal heat, the carbon footprint of oil and gas extraction will decrease as fewer fossil fuels are utilized to power surrounding infrastructure. As the wells approach their economic life, I will negotiate the lease from various operators, saving them millions in plug and abandonment costs, and retrofit the wells for direct geothermal energy production via closed loop binary fluid systems, bringing emissions to zero. To accomplish this goal, I need to shore up my knowledge of energy economics and entrepreneurial finance, develop a strong sense of leadership, and build a network of like minded individuals that will help me lead the transition and I believe I can get those things at Chicago Booth. My immediate career goal is to develop my first co-production site in Shelby County, Texas at the Blanton well site, which produces abnormally heated fluid from the flanks of an active salt dome. Before investing in capital expenditures, developing a strong sense of energy economics and broader markets is necessary to verify financial feasibility. University of Chicago, through the Graduate-Student-At-Large: Business program, is already allowing me to accomplish this goal with my enrollment in “Microeconomics” with Professor Andrew McClellan. His instruction helped me understand the impact taxes and subsidies have on market equilibrium, an important aspect of renewable energy as green energy tax incentives continue to change on a yearly basis. As my company continues to grow, having a strong finance and accounting foundation is imperative to building and sustaining a healthy company. Electives such as “Accounting for Entrepreneurship: From Start-Up through IPO” will provide the skills I need to be successful by following the life-cycle of a business that originates as a start-up, and covers topics such as building an initial accounting infrastructure. I understand that execution of the business is as important as developing the idea and proof of concept, and Booth is the best place for me to develop financial fluency. Leading the energy transition will require a strong sense of leadership. Not only will I need to lead those I get to work with over my career, but to lead the energy transition, and reverse the impact fossil fuels have had thus far, I must have the emotional intelligence to inspire others to join me in my journey. The “Interpersonal Dynamics” course at Booth will allow me to develop my communication skills and better understand the emotions and perceptions of my colleagues. These skills, synthesized with leadership development acquired in “Leadership Practicum” will prepare me to act as a relational leader, who understands the needs of others. As a relational leader I hope to foster an environment which promotes happiness, and maximizes efficiency, not only to make our efforts in changing the world more successful, but to excite other people to join our cause.

To find the greatest chance of success in leading the energy transition, I will need a network of like-minded individuals who can provide a diversity of thought. Chicago Booth provides the opportunity to develop that network through different community experiences. The Energy Club’s “Energy Forward” conference, which designates time to topics in oil and gas and renewable energy will allow me to hear from industry leaders, build meaningful relationships with peers and contribute my sector experience to the public forum as I learn from those around me. Opportunities through the Entrepreneurship and Venture Capital Group such as “SeedCon” will help me connect with successful entrepreneurs and early-stage investors whose ideas and funding might change the course of my venture’s trajectory. Even in the GSALB program I have had the opportunity to connect with other students in various sectors, including the energy industry. I hope to continue to strengthen those connections and continue building new ones with matriculation into the full time program.

Here are several other articles that you may find helpful as you put together your MBA application:

• The Most Frequently Asked Questions on MBA Applications
• How to Answer the "Why an MBA?" Essay Question
• My Top Piece of Advice for MBA Applicants
• How I Nailed My MBA Interview and Gained Admission to Top 10 Business Schools
• 4 Expert Tips on Paying for Business School

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Business Essay and the Best Way of Its Writing

• Academic Writing Tips

• Social Science
• Political Science

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the programs. There are many branches in the business field, from business management to finance. College tutors often give students different business papers to test their knowledge as part of the assessment.

A business essay is an academic assignment that involves writing a paper that responds with a strategic and analytical approach to specific situations occurring in the market. Each business essay has a different topic that students tackle. However, the primary purpose of such essays is to collect relevant facts that align with the research question and analyze the data to get solutions.

Writing a business essay might seem simple, but it requires impressive writing skills and extensive research. You must be familiar with the topic to know the paper’s direction. Topic selection is a tricky section that affects the entire writing process. It is essential to identify a relevant topic to assist you in crafting a remarkable paper. You have to write a well-structured and compelling paper to get good grades. Presenting accurate arguments with supporting examples from reliable sources is an essential research aspect. Thus, a business essay must follow the required academic standards and theoretical frameworks.

However, writing is not everyone’s cup of tea, and incorporating logical arguments can be challenging. If you are stuck, you can check any business essay example online to understand the format. You will know how to structure the paper and relate it to the relevant themes.

That is why our writing service is here to help needy students craft exceptional essays. We will connect with a proficient business essay writer to help with the research and writing process. Get flawless documents from us and earn the best score in your class.

Business Essay Format

Most learners often overlook the importance of having a business essay format. It is imperative to use a format to help you outline your work. Proper thought organization and articulation are essential aspects that translate into a well-written business essay.

Below is an example of the format:

• Introduction
• Background information
• Introduce main topics
• Thesis statement
• Topic sentence
• Research explanation
• Restate points
• Significance of the study

The above outline is a map that will guide you to know what to include in each section. In addition, you will understand what the assignment requires you to do from the introduction to the conclusion.

If you still find it challenging to get the proper format, you can study a relevant business essay example from our site and jumpstart your paper. Whether you need a business school essay or a business plan essay, we have you covered.

Write Business Essay In 5 Steps

While writing might seem challenging, with the proper format and topic familiarity, you are on the right track. It is imperative to understand the writing process before composing your business essay. You need to read the prompt carefully to know what you are supposed to research and write about.

Here is an overview of the writing process in 5 simple steps:

• Topic Selection

Choosing a good topic is mandatory in crafting an excellent paper. You must select a theme that aligns with the research question. Additionally, ensure you select a familiar topic you are passionate about to avoid writing mistakes and illogical paragraphs.

• Extensive Research

Conduct extensive research to get facts and supporting evidence. Narrow down your theme and include only good points. Avoid broad topics because you will waste time during research.

• Essay Outline

Make sure you use a proper outline to organize your thoughts and line of arguments. Follow the format essay

Start writing your paper while using the required academic format. Organize your work and include the introduction, main body paragraphs, or conclusion.

• Editing and Proofreading

Finally, edit and proofread your essay to eliminate grammatical and spelling mistakes.

The above steps will help you during business essay writing to craft remarkable papers. It would be best to plan your time adequately to avoid rushing through the process. However, you must select an appropriate topic for your paper. It could be a business management essay or a marketing paper. No matter the subject discipline, ensure you follow the correct procedure.

Business Essay Topics

Our experts have compiled a list of different business essay topics to inspire your writing:

• Discuss the importance of bookkeeping in a business.
• Evaluate the impact of value addition in products.
• An analysis of income and expenditure transactions.
• Analyze the supply-chain industry.
• The effects of product promotion in business growth.
• How to develop an effective marketing strategy.
• Impact of policymaking in enhancing company productivity.
• What is multilevel marketing?
• Impact of technology in the business world.
• Discuss the challenges affecting entrepreneurship.
• Significance of human resource management.
• Explore the importance of budget analysis.
• How does technology impact advertising?
• The importance of a financial strategy.
• How to start an online business.
• How can organizations profit from sustainable practices?
• How to develop a positive organizational culture.
• The importance of employee diversity in an organization.
• Effective ways of fraud prevention in a company.
• Explore the communication channels in an organization.

Let us look at interesting argumentative business essay topics

• Discuss the influence of cultural differences on international companies.
• A comprehensive analysis of cryptocurrencies.
• Discuss the ethical dilemmas in international organizations.
• The influence of globalization on the business community.
• Should large organizations have a social media presence?
• Causes and effects of economic recession.
• Impact of politics on business growth.
• Discuss the effective strategies of negotiating cross-cultural business deals.
• Explore the integrity of online entrepreneurship.
• The impact of corporate social responsibility in an organization.

The field is quite diverse with various course programs. You can derive different topics from these programs to get logical arguments. So, get inspiration from the compelling business school essay examples and craft exceptional papers.

How To Start A Business Essay

Knowing how to start a business essay is essential for academic writing. The first step entails topic selection because it will determine the essay’s direction. Identifying a relevant topic is vital, and you need to ensure you get the suitable theme. It will also help save you time during research and simplify the writing process.

When it comes to essay writing service , business papers are among the assignments that require extensive research and analysis. Read the essay prompt carefully to understand the tutor’s expectations. Then, make sure you conduct a comprehensive brainstorming session to get the major points for your paper. Having the right points will help you compose logical arguments in a flawless manner.

Moreover, it would help to read previous essays and publications from reliable essays widely. You will get essential data to support your arguments. Besides, the sources will help you cite your essay correctly.

Start your essay with an insightful introduction and include your perspective regarding the topic. Incorporate a powerful thesis statement that informs your readers of the paper’s direction and the major points you will discuss.

Proceed to write the body paragraphs with a topic sentence that captures all significant arguments. Each paragraph should have well-explained arguments that flow logically.

Finally, conclude your business essay by restating your main points and the significance of the study.

Still, need help with your paper? Worry no more. Our competent business essay writers are on standby, ready to assist you with any academic paper. Stop wasting time and reach out to us. We will help you score top-of-the-class grades within no time.

The paper “Enterprises Resource Planning Success and Failure” is an outstanding example of a business essay. An Enterprise resource planning (ERP) system according to Aslan et al. (2012, p.693) is a management system within an organization that has sets of connected inclusive software, which may be used when espoused and put into practice effectively, to oversee and connect every organizational function. Basically, ERP systems may be employed as a tool for helping to improve the supply chain network as well as the level of performance by helping in decreasing cycle times.

Besides that, ERP systems have been utilized routinely in capital-intensive industries like building, construction, manufacturing, as well as defence. Latterly, ERP systems have advanced further and nowadays they are prevalent in industries such as education, health care, finance, hospitality, and telecommunications. Fundamentally, the benefits of ERP systems are hard to realise not unless a strong disposition, as well as participation, is established within the organisation; so, the article seeks to critically analyse ERP success and failure experienced by organisations.

BodyAs mentioned by Hellens et al. (2005, p.283), ERP systems are built upon a single database and application, as well as a coordinate that is unified in the whole organization. For that reason, every application serving different departments such as HR, accounting, and supply chain are integrated firmly under a single ERP system. Al-as observed by Al-Masha et al. (2003, p.354), ERP systems are useful when successfully implemented because they accelerate the process of decision-making. So, the success of ERP systems depends on the ability of an organisation’s managers to efficiently oversee the operation of a business, given that ERP systems can help them reduces operation costs.

Success drivers of ERP systems can be categorised into two: operational and technological drivers. In this case, operational drivers are associated with ways of improving organisational performance, supporting business strategies, as well as cutting production costs. On the other hand, technological drivers are predominantly associated with compliance with existing rules and regulations. The notion of success varies as the process of implementation continues, in that for planning and implementation (the first two stages of the cycle) success is mainly rooted in completing the ERP project to the standards that are acceptable within the budget as well as a time limit.

As pointed out by Hanafizadeh et al. (2010), stabilization as well as Improvement (the last two stages of the cycle) success is founded on the seeming impact of the ERP system on the performance of the organization. As indicated in Hanafizadeh et al. (2010) study, there are scores of factors vital for the success of ERP systems; support is top management one of the factors, and it involves encouraging commitment, positivity, and support of top management in the ERP project. Another factor is the utilization of knowledge as well as experience of system and technology consultants.

Additionally, the balanced project team is crucial for the success of ERP systems because it includes the integration of employees and information technology with the broad knowledge of the processes in the organization. As evidenced in Hellens et al. (2005) study, the accuracy of the information is crucial to the success of ERP project, so, data loaded from accessible legacy systems must at all times be of high quality. ERP project cannot succeed if the project management teams do not have a well-defined, detailed project plan related to the goals of the project.

Change management is also a success factor in the implementation of ERP project; so, careful attention has to be offered to this, considering that several changes in business processes are experienced during ERP systems implementation. Training and education are also important given that technical expertise regarding the ERP system, its reference model, and facts regarding its working are useful in the process of implementation. Other factors crucial for success consists of, availability of experts who aside from being in top management will frequently help the organization realize ERP system benefits.

Failure of ERP projects has been prevalent, and this has continued to bite worldwide across all business platforms. As pointed out in Xue et al. (2005, p.279) study, ERP poise substantial benefits like improving customer service, reducing manufacturing costs and boosts productivity, but these benefits are only realised after successfully implementing the ERP systems. Nevertheless, statistics show that implementation of ERP systems is still a failure amongst scores of companies. Statistically, 90 per cent of ERP systems implementations in Asia countries, especially China are either completed late or use more money and resources than those stipulated in budget.

In Xue et al. (2005) study, where they differentiated implementation success of ERP system in China as well as western countries, they noted that China had a higher percentage of failure which was attributed mainly to lack of support from top management as well as data inaccuracy. Other factors that led to ERP failure include poor participation, education and training, insignificant time ensuing from a minimal understanding of cross-operational organisational processes (Dechow & Mouritsen, 2005, p.691). Furthermore, ERP systems are exceedingly expensive, and also the need for the organisation to hire consultants to assist in the configuration as well as implementation, results in further escalation of price; thus, creating a high possibility of failure.

The cost used on consultants is almost thrice the cost of an ERP system; this negatively affects the productivity of the company and can lead also to the failure of the ERP system. ConclusionIn conclusion, it has been argued that ERP systems are beneficial because they improve the flow of information between every function of the company and also manages the connections to external stakeholders. Currently, the key basis of competitive advantage is the capability of a business to improve the processes of the supply chain.

This necessity has created the need for more advanced information systems like ERP systems. The articles have heightened numerous factors critical to the success of ERP, and which have allowed companies to efficiently plan their resources resulting in business efficient functionality and increased productivity. Failures as discussed in the article are caused by lack of support from top management, data inaccuracy, and lack of sufficient education and training.

The paper “New iPhones Show a Hit For Apple as Quarterly Profit Fluctuate 13 Percent” is an outstanding example of a business literature review. Yao (2014) explains that China is expected to provide information about its weakest growth since the occurrence of the global financial crisis within the third quarter while the property downturn is assessed based on manufacturing and investment. As a result, more pressure has been put on Beijing to unveil new stimulus measures. According to Yao (2014), the market assumes that the Communist Party leader will be able to adjust to the gradual slowdown. This will happen only in circumstances where there are no possibilities of experiencing a potentially destabilizing fluctuation in unemployment. However, anything weaker would lead to more speculations of key stimulus measures, for instance, an interest rate cut. Although the leadership has consistently provided steady aid specifically to vulnerable sectors of the economy, it has been noted that several stimuli have been ignored because China is still struggling to pay a huge local government debt (Yao 2014).

Article 2: New iPhones show a hit for Apple as quarterly profit fluctuate 13 percent

Due to strong demand for APPLE’s new larger-screen iPhones released in September, its quarterly profit increased by 13 percent. This also enabled APPLE to overcome the sluggish iPad sales (Jones 2014). Despite the more intensifying competition felt by Samsung Electronics as APPLE’s leading Smartphone competitor, Jones (2014) points out that the iPhone is attracting more consumers who are also ready to pay high prices particularly for cutting-edge handsets. Through its latest phones, Apple is profitably catching with its major competitors, such as, Samsung that have from time to time managed to post attractive sales of larger phones. It has also been noted that the marketing strength that iPhone has gained stands in contrast to sluggish iPad sales and the issues affecting Samsung’s Smartphone business (Jones 2014).

Article 3: Coal not the solution for poverty

Couchi (2014) examines that cheap coal-fueled electricity is highly considered by miners and politicians as the best alternative way out of poverty, particularly for developing nations. However, Africa has not considered this. In the business report provided by Couchi (2014) about the U.S financial group Citi, it can be noted that the booming market for African electricity has been a result of the coal approach. In the attempt to reinforce coals bearish outlook, Couchi (2014) reports that Citi discovered that a new International Energy Agency (IEA) outlook on the commodity is in contrast with the idea of BHP, the US coal producer Peabody as well as the Minerals Council of Australia which maintains that coal would play an integral role in minimizing energy poverty, particularly for developing countries. Despite its metallurgical and thermal forms, coal is considered the second-biggest mineral exported from Australia after iron ore (Couchi 2014).

Article 4: Ebola could be in the headlines, but tobacco is yet another killer in Africa

Research conducted by The Guardian (2014) shows that although Ebola dominates the headlines, there is yet another killer pandemic of great importance that continues to kill many people in the African continent unnoticeably. It is has been noted that tobacco kills at least one between two long term smokers. Currently, it is anticipated to kill 1 billion people globally before 2100. This is relatively more compared to the current number of people who die of Ebola. The Guardian (2014) terms this global issue as injustice and inequality because Transnational Tobacco Companies (TTCs), such as UK-based British American Tobacco (BAT) earn humungous profits yet they cause economic damage worthy over half a trillion dollars each year. Besides, TTCs contribute more to environmental degradation and thus create risks that compromise the health as well as the sustainability of populations. To earn more profits, TTCs are currently shifting and expanding their business to untapped markets in regions with unrestricted opportunities for growth (The Guardian 2014).

Article 5: NAB, ANZ lead pack in building home-lending share

The home loan is still considered the major driving force in recovering credit growth for banks. In this case, National Australian Bank (NAB) and ANZ are on the frontline to encourage the big banks in taking the advantage of the mortgage market, while home and business lending are sustainably becoming strong. Therefore, NAB and ANZ have put on media their fastest growth out of the big in all the past three months (Yeates 2014). Despite the faster growth and expansion made by NAB compared to their rivals in home lending, Yeates (2014) notes that analysts see business lending as a bigger concern because the bank has lost shares and faced more pressure, particularly on its margins. Generally, the home loan market is considered a major driving force that enables banks to recover from credit growth regardless of the risks associated with life specifically in business lending (Yeates 2014).

The paper “Globalization and Culture” is an outstanding example of a business essay. Today, it is common to hear people refer to the world as ‘a global village’. This has been a result of the process of globalization. This process has opened up and improved trade across regional and national borders. Not only has globalization enhanced economic interactions across nations but also improved access to information and uplifted the fight for human rights, among other benefits. Recent technological and communication developments along with improved road networks have been the key drivers of globalization. However, critics of globalization say that these benefits have been realized at a very high price: that of surrendering regional and national cultural values, mainly, for Western morals (Kwame, 2007).

Regarding this debate, two key schools of thought emerge. From one angle critics argue that globalization spreads out any and every culture all over the realm, leading to cultural heterogeneity and deeper understanding between diverse groups. This is mainly defined through the global production and distribution of commodities such that people in different parts of the world have access to commodities they would otherwise have never seen. A case in point is the cultural interaction between the United States and Japan. Teens in the U.S interact with the Japanese culture through their comic books, animations and video games, while teens in Japan interact with the American culture through watching TV shows and Hollywood movies produced in the U.S (Kwame, 2007).

On the flip side, critics argue that globalization erodes the regional and national cultural identity through cultural homogeneity. This leads to a cohesive global culture constituting diluted varieties of regional and national cultural nuances. For instance, French pastries, ‘American’ fried chicken, and Japanese sushi can be eaten in almost any part of the world. Restraint chains such as MacDonald’s and Starbucks have influenced traditions and behaviors in different countries. Even though champions of globalization claim that this merely affects consumer goods and media broadcasting, critics contend that it deteriorates customary culture ((Kwame, 2007; Czinkota, 2003).

Culture is a prevalent aspect in business whether it is in marketing, production, or human resource management. It is a key variable in the function of success in new markets (Czinkota, 2003). People’s purchasing decisions are based on a product’s design, style or color that supports their religious beliefs and practices. Empirical evidence shows that the success or failure of a company, especially, in a foreign market is reliant upon the effective managerial exercise of local religious beliefs and practices. Therefore, managers ought to be on familiar terms with their market’s religious differences given that religion influences people’s attitudes. For instance, Asians have a different attitude toward authority and women that differs from Western beliefs and practices. Whereas many parts of the world, including Asia, South America, and Africa, value collectivism very much, Americans are more individualistic. Chinese, Latin Americans and Koreans take time casually even as Americans are more proactive.

Failing to appreciate the religious beliefs and practices of the market will often lead to lots of inadvertent mistakes, such as being socially violent, cultural mix-ups, tarnished interpersonal relations, poor negotiations. As a consequence, the company’s future performance dwindles as profits decline. Lack of religious competence, or religious dogmatism, can easily put at risk millions of dollars through fruitless negotiations, lost purchases or sales, and pitiable customer relationships (Czinkota, 2003).

Cultural Literacy

Culture is a broad system that includes traditions, beliefs, attitudes, values, institutions and social interactions. This system reflects the global crunch facing the human race, and so it is a cultural catastrophe (UNESCO 1997). Dealing with such a cultural diversity calls for an important skill referred to as cultural competence. Chrisman (2007) defines cultural competence as ‘attitudes, practice skills, and system savvy for cross-cultural conditions’. The key force in work involving cultural competence is the people’s flexibility and ability to appropriately consider and treat the general public politely and in a proper way fitting their culture. Cultural literacy takes account of cultural competence plus the capacity to analytically mirror, and if needed institute change in, one’s a specific culture. Cultural literacy also comprises the capacity to examine the actions of central cultures measured against other cultures. This becomes very much useful in business. A case in point is the understanding of the effect of globalization or cross-cultural businesses on indigenous cultures all over the world.

Cultural literacy has been likened to an iceberg, through the iceberg model of culture. This is due to the expanse contextual material one requires to understand the culture. Cultural literacy often involves much more than the information essentially spoken. In other words, to understand the meaning of a cultural term, one has got to have much information that is not revealed by the bare meaning of that term. The clear cultural meaning of the term is like the ‘tip of an iceberg’ meaning that the deeper understanding lies below the casual meaning of the term and it constitutes a person’s own applicable information. It is known that 15 per cent or less of an iceberg can be seen above the water surface, 85 per cent or more of the iceberg is submerged below the water surface. This means that there is quite a different picture depicted shallowly from that which is the actual translation in the literature, giving the imprint that implied information comprises relatively tiny bits and pieces of information, left out by the correspondent due to dismissal or suitability (Hawkes, 2001).

Figure 1: Iceberg Model of Culture

It has been stated earlier that culture is a broad system that among other aspects involves religion. The world is very diverse in terms of culture as well as religion. Each culture embodies a creation in itself and yet it is not closed. Cultures give religious convictions semantics, and religions provide decisive connotation to each culture. Religion is a way of life for numerous cultures saturating every one human action. In other cultures, it characterizes the utmost ambitions of human life, and for others, religion is an institution that claims to convey a meaning of deliverance (Hawkes, 2001).

The paper “The Different Communications ” is an outstanding example of a management assignment. Phone: 23 rd August: the communication was made to remind that the bill for the mobile phone is outstanding and if not paid within the date will have a fine imposed on it. The communication was successful as it helped to fulfill my need and acted as a reminder. Further, the call also ensured that it was complete and all the details like outstanding amount, due date, late fine, and other details were provided. The call was complete and highlighted the important aspect which if ignored could have an impact on my usage.

Radio: 24 th August: The communication was made regarding the areas which are having huge traffic and showed the roads which should be avoided. The communication was successful as it helped to fulfill my requirements by highlighting the different roads which need to be avoided and which need to be used. The communication was further clear and loud regarding the different roads and path which should be avoided. This method acted as one where proper guidance was provided and acting in the correct way was highlighted so those correct decisions can be taken.

Communications that were unsuccessful

Television: 24 th August: The communication was made regarding the sale of women’s garments. The communication was ineffective because in the first instance it didn’t meet my needs and requirements as I was not looking to shop. Secondly, the message was not constructed properly as it didn’t speak about the brands which were available on sale, the different garments which were available, and also didn’t highlight the date when the sale would end.

Phone: 25 th August: The communication was made regarding the mobile bill payment which has already been made. The call was ineffective because it was not required as the payment has been made and I had the required receipt. The call was instead a wastage of time. In addition to it, the call was not constructed properly and required to focus on areas through which a message would have been enough as a source of communication to ensure that the payment was correctly entered.

Reasons for communication not to be successful

The communication process can be improved in the following ways

Firstly, ensuring that the communication which is made is required and is addressed properly so that the person who receives the communication gains from it (Nicholas, 2013)

Secondly, providing complete information is essential as it will serve as a benchmark to evaluate the manner in which different information is passed (Anne & Bochner, 2007). It will also help to understand the important matter which has been spoken and will help to highlight the manner in which changes can make so that proper communication and message is passed

Thirdly, the targeted audience was wrong and it is important to correct the audience (Mehrabian and Susan, 2007). This will help to improve the validity and reliability of the communication and will ensure that the process of communication becomes effective and is directed towards the correct person

Fourthly, the process of communication needs to be improved and changed so that the message is correctly interpreted and passed with the same intention (Imahori & Lanigan, 2012). This will help the listeners to evaluate the message in the correct form and will help to ensure maximum response.

Fifthly, the media which are used needs to be chosen wisely as the usage of a message instead of a phone call for bill paid confirmation would have been more helpful and could have caught the attention of the audience in a better way. This would have multiplied the effectiveness of communication and would have helped to understand the important points and issues.

The process of communication thereby requires working on the smaller and important aspect so that the overall process of communication improves and helps to provide the required dimensions through which effectiveness can be gained in the manner messages are passed.

The paper “Why Did Telefonica Initially Focus on Latin America” is a perfect example of a business assignment. Based on Telefonica’s objectives of rapidly increasing shareholder value, profits and achieving growth, it had to take advantage of location economies. Hence, the company initially focused on Latin America, as it must have perceived FDI to be a means for circumnavigating trade barriers. Indeed, the reasons why Telefonica initially focused on Latin America are perceivable through the lens of the Uppsala Model Theory.

According to the theory, the internalisation of a company across many foreign markets is correlated to psychic distance, where the first entry is to foreign markets that are familiar and closer in regards to the psychic distance of the host country, before making subsequent entries in foreign markets with greater psychic distance. Psychic distance comprises the differences in culture, language and political systems (Falvo & Parshad 2005).

Within the perspective of Uppsala Model Theory, it should be argued that companies tend to gradually increase their activities in international markets through a series of incremental stages, where the succeeding steps are anchored in learning and adapting to foreign markets (Pandian & Sim 2002).

This implies that the firms fast gain experience from the markets, where they have closer cultural ties before expanding to foreign markets. For instance, Telefonica had to first gain experience as a telecoms operator in Latin America, since the region has deep cultural ties with Spain, where it is headquartered.

Strategic competitive advantages

The company’s decision to slowly expand to Europe appeared opportunistic as well as strategic. Europe had initially possessed trade barriers that lowered the chances of successful entries. Essentially, there is a correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers, in terms of competition are bypassed in preference to those that are less competitive (Enu & Attah-Obeng 2010). This argument is based on Dunning’s Eclectic Theory, which hypothesises that a company will always seek to leverage their specific advantages, including marketing, knowledge, skilled personnel, technology and information (Dunning 2001).

In this case, the Latin American markets were growing rapidly. They also experienced an increased high adoption rate and usage of mobile phones and internet connections. Additionally, after the Spanish government privatised Telefonica and deregulated the Spanish telecommunications market, the company’s core objective became increasing shareholder value, profits and achieving growth.

This implies that profit maximisation is a major drive to foreign direct development; through the use of particular advantages the company has (Glesem et al. 1990). It, therefore, had to select a region that would enable it to achieve higher profits. The company selected Latin America over Europe. Latin America had few entry barriers, such as competition and government regulations, while Europe had greater barriers due to more competitors. This implies that imperfect competition within the marketplace is a key incentive for expanding abroad. Besides, European mobile telecommunications operators had agreed they would not invade each other’s markets. However, after the entry of America Movil into Latin America, Telefonica faced a stronger competitor, forcing it to expand to Europe.

Commenting on other student’s post:

Why did Telefonica initially focus on Latin America?  Why was it slower to expand in Europe, even though Spain is a member of the European Union?

While the student hinted at the growth of multinational enterprises, a brief outline detailing why the company expanded and reasons for expansion could have provided a more relevant backdrop. Additionally, the reference to the Socialist Party by Popular Part in the general election of 1996 was irrelevant and out of context. The student’s decision to link the factors for the European Union to the opening of the telecommunications sector was misplaced. Rather, the student should have selected reasons why Telefonica selected to begin operating in Latin America before making headway to Europe. However, reference to high competition in the sector in Europe was justified.

Accordingly, the student should have explored the close cultural ties between Spain and Latin America, as the major drivers that triggered Telefonica to first launch in the region before expanding to Europe. In supporting the argument, a reference to a relevant theory, such as the Uppsala Model Theory could have pointed to the reasons why internationalisation of a company across many foreign markets is correlated to psychic distance (Uhasselt. be 2005). This includes why the initial entry is mostly made in foreign markets that are familiar and closer in regards to the psychic distance of the host country. Afterward, an explanation of what this meant to Telefonica based on the theory could have been appropriate (Gustafsson & Zasada 2011). For instance, the student should have stated that firms get to fast gain experience from the markets where they have closer cultural ties before expanding to foreign markets.

The student should have based his arguments on Dunning’s Eclectic Theory, which proposes that firms tend to use their peculiar advantages such as marketing, knowledge, skilled personnel, technology and information (Rugman 2010). Further, he should have stated that companies view FDI as a means to circumnavigate trade barriers before going forth to describe the correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers in terms of competition are bypassed in preference to those that are less competitive.

While the student was also justified in arguing that the company sought to maximise profitability and to increase shareholder value, no basis was provided to support the argument, based on the case study. At this stage, the student should have suggested a theory to support his argument (Morgan & Katsikeas 1999). Later, the student should have provided examples from the case study to defend the choice of the theory he selected. However, the student provided examples outside the case study, such as “Telefonica has been able to establish footprints in 24 countries and having an average of 120,000 professionals with consolidated revenues of 24,957 million euros in January-June 2014 and more than 315.7 million customers at June 2014”

Additionally, the reasons the student outlined as the likely motivators for Telefonica to launch first in Latin America before making entries in Europe cannot be justified, as they have not been argued appropriately. For instance, in suggesting political developments, taking policy advantage and the fact that the markets shared a common language, the student should have discussed the concept of psychic distance and the related theory, such as the Uppsala Model Theory.

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How to Write Successful Business and Management Essays

• Patrick Tissington - University of Warwick, UK
• Markus Hasel - Management Consultant, Paris
• Description

A systematic guide to successfully producing written work for business and management degrees. The authors address the all-too-common pitfalls of essay assignments, as well as providing readers with a step-by-step programme to approach essay questions, both in coursework and exam contexts.

New to the Second Edition:

• Relevance of writing skills to employability highlighted throughout
• Additional content on researching a topic
• New content on adapting writing for different audiences
• New content on academic writing tips
• Addition of useful websites
• Additional coverage of plagiarism
• More on critical evaluation
• More on changing requirements through different levels of study.

Suitable for all business and management students looking to improve their essay writing skills.

Student Success  is a series of essential guides for students of all levels. From how to think critically and write great essays to boosting your employability and managing your wellbeing, the  Student Success  series helps you study smarter and get the best from your time at university. 

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Visit our hub for free academic skills, wellbeing and employability resources from our new and bestselling guides, designed to support you from day one all the way through to graduation and beyond.

This resource is a must for teachers and students alike. It is relevant and up-to-date on curriculum change and on disruptive technology impacting learning and teaching delivery. It will enable mastery of essay writing for life.

This book presents a much needed, well structured and extremely accessible opportunity to those seeking further guidance on writing essays.

This book is a must for students in higher education, not only those studying business and management but across the social sciences. It demystifies essay-writing by providing a practical and accessible yet rigorous guide to writing excellent essays.  It offers students a route to develop their own informed voice, a critical skill both in higher education and in the wider world of work.

A concise book to support this essential skill, step by step process to complete an essay in an easy read format.

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Assignment on Business Management: Quick Guide

What is Business Management Assignment

College curriculums are loaded with unfamiliar subjects, and students often feel lost. The first assignments are usually the hardest to get done, and a little help would be nice. If you are a beginner facing this challenge and are asking all around 'what is business management' or how it differs from business administration, you have come to the right place. This quick guide will explain the basics of the management of business and will provide topics of business management essays.

To put it simply, business management is a process of planning, organizing, directing, and controlling the organizational resources to achieve the company's objectives. While business administration concentrates on the organization's day-to-day operations, business management focuses on the overall process.

Business management is vital for a successful business. A business manager's job is to make strategic decisions, allocate resources, hire the best employees, and ensure the company meets its business objectives.

A business management assignment helps students demonstrate their ability to apply theoretical knowledge to real scenarios and prepare them for future challenges. While the structure of the assignment is not foreign to experienced students, it covers a wide range of topics. It could involve operations management, financial and human resources management, organizational behavior, etc.

In the following chapters, you will find useful tips, a formal structure, and a general outline of a business management essay. Down below, there is a list of essay topics you could write a magnificent essay about. To clarify things, here is a business assignment sample essay. Our college essay writing services will provide a business essay crafted to meet the highest standards of your university.

How to Write a Business Assignment: Helpful Tips

Even though every essay structure and general outline resembles one another for each type, there are still many intricate details that you should consider when writing a business management assignment.

Let's move on to discuss constructing an impressive business paper without wasting time making mistakes. The following guide will save you the trouble of extensive research on how to polish an academic paper and help you reach the academic success you deserve.

If you don't have much free time on your hands, our exceptional custom essay writing service is also a great option. Let us know what is due, and we will deliver unforgettable reports on business management.

Choose Relevant Business Management Topics

Start by implementing a general to a specific approach. Think about the areas of your expertise and how it links with the business assignment. A topic you feel comfortable writing will help you construct a high-quality and meaningful research paper.

Writing about the topics of business you feel passionate about will make the process more engaging and enjoyable. Consider your audience, and make the topic meet their needs. This will help you write an informative and engaging paper. Be relevant. Stay up to date with trending topics of business management. Choose a topic about an important issue and provide new perspectives or even a solution. Filling in the existing gaps will help your essay stand out.

Narrowing down the scope is always a good idea. The specific topic will make your work more manageable and keep you focused. A broad topic is always difficult to cover, but narrowing it down too much can limit your research options. Thus, balance is the key!

Maintain Your Management Assignment Structure

Maintaining the structure of the assignment is crucial. Make sure to keep your ideas coherent and your essay easy to follow. Whether you are writing about international business management or organizational structure, the most important thing is simply communicating your ideas to the readers.

Start by following the course guideline. Make sure you understand every component. Usually, professors give out this kind of map to determine the structure, format, and length of the management of business assignments.

Before you start writing, create an outline. Organize your thoughts and ideas and stay on track. Use headings and subheadings to break up your assignment into sections. Start with a strong introduction and an easy-to-digest thesis statement. Follow it with comprehensive body paragraphs. Here you can provide your arguments, show other people's work, and communicate with the audience about the problems you've discovered. Use transitional sentences to connect your ideas and eventually to the bigger picture. Finally, write a powerful conclusion that ties everything up. Showcase your ability to link various arguments to one another.

Following our guidelines will bring clarity and coherence to your writing. Well-structured and easy-to-follow essays always get positive feedback from their readers.

Analyze Topics of Business, Don't Repeat

Analyzing business paper topics can get tricky, especially for beginners who have to develop their writing style. Chances are you will repeat the same argument several times to make it look more convincing. But answering the question 'what is business management' several times with different words will only make your paper look unprofessional.

It's tricky, but there are ways to avoid repeating the arguments. Do the prior research. Acquiring knowledge will expand your horizon, and you won't feel the need to repeat the same sentence couple of times. Create the general outline. Knowing the order of your essay elements will help you avoid restating the same information twice.

Besides the general outline, it's a good idea to list all the key points and prioritize them. This way, you will cover every important detail in your essay. Last but not least, consider alternative perspectives. If you incorporate opposing viewpoints, you will enrich the paper and show off your writing skill level.

Provide Rationale for Your Business Assignment

It is trivial, but for safety reasons, let's point out: an argument without supporting evidence is not valid. The same goes for the topics of business management essay. You must provide a rationale for every stage of the essay.

Being able to provide supporting evidence demonstrates strong research abilities. Writing a well-reasoned essay requires thorough research. Providing rationale and citing sources in the assignment shows that the writer has done their best. Besides looking professional, it will be easier to convince the reader about the credibility of your argument if they can see the reasoning behind it. If you can explain why you think what you think, it shows that you have considered opposing viewpoints. Critical thinking is one of the most important aspects of the writing process.

Writing essays about the management of business takes extensive research. If the deadline is too close and there is not enough time to master the art of writing, you can go to the website and check out our custom research papers writing service . Our team of professional writers is always here to help you.

Use Formal Language in Your Business Assignment

In business, academia, or any other professional setting, we use formal language. It strictly adheres to the rules of grammar, tone, and vocabulary.

Formal language helps to establish a professional tone in A management assignment which supports creating a positive impression on the reader. Using formal language also increases the clarity of the arguments. Formal language is more precise, which can help avoid ambiguity and confusion.

No matter which business management topic assignment you write, having a respectful relationship with your audience is crucial. Formal language and correctly chosen vocabulary can take you a long way. It shows respect to the reader and the topic also.

Thus, you must avoid using slang, vocabulary unsuitable for the audience, contractions, and other unprofessional language or tone forms. And if you are reading all these, you are thinking, 'why can't somebody else write an essay for me ,' visit our website, and your wish will become a reality in no time. Get top-notch essays tailored to your specific requirements.

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Business Management Topics

Mastering the art of constructing an impressive essay is only one-half of the job. First of all, you need an engaging topic. Our team has prepared a comprehensive list of business management topics to write about. From operations to business process management, explore a list of topics covering a wide range of fields, choose the one that excites you the most, and start implementing the freshly acquired knowledge.

International Business Management Topics

Our experienced writers have gathered the 20 most engaging topics about international business management. Explore the list and find the most attractive one:

• Exploring management concepts in international business
• Cross-cultural challenges in achieving Organizational goals
• The challenges of the first line managers in international organizations
• Key strategies for managing international business operations in an efficient and effective manner
• Maximizing international business success through effective human resource management strategies
• Navigating global business challenges through effective management of cultural intelligence
• Effective leadership strategies for international business management
• Cross-cultural communication as an essential part of international business management
• The link between happy employees and successful international business management
• Maximizing global business performance through effective staff managers
• Leveraging various resources for competitive advantage
• Understanding the universal phenomenon of cross-cultural communication challenges
• Foreign direct investment and risks for international businesses
• Sustainability in international business
• Challenges of corporate governance in international businesses
• The role of ethical leadership as an essential part of international business management
• Developing a high degree of cross-cultural competence
• Managing global value chains: integrating all the activities in international business management
• The importance of cultural awareness in international business management
• The role of self-confidence in international business management

Operations Management Assignment Topics

Below you will find the most relevant and moderns operations management assignment topics:

• Enhancing Organizational Performance through Effective Operations Management and Managerial Skills
• The role of organizational chart in effective operations management
• The impact of executive functions on operations management
• The role of operations management in achieving success at a shareholder meeting
• The importance of understanding human behavior in operations management
• Leveraging consumer insights based on market research
• Optimizing group dynamics in operations management
• Leadership and strategies of general managers in operations management
• Planning effectively: best practices for operations management
• Tools, techniques, and approaches for a good knowledge base in operations management
• How to manage an organization effectively: operations management strategies
• The role of operations management in organizational development
• Achieving efficiency and productivity through simple form and process
• The role of independent decision-making in operations management
• Management theories: How to plan effectively toward organizational success
• Optimizing human activities for the entire organization's success
• Streamlining operations management for a particular job: important strategies for effectiveness
• From plans decided to action implemented: the importance of effective operations management
• Provide guidance for upper management: strategies for leadership and direction
• Balancing technology and human beings for global success

Business Process Management Topics

Explore 20 more topics about business process management:

• Strategies for implementing effective business process management principles across the entire organization
• The role of human effort and organizational structure in achieving operational excellence
• How successful managers utilize basic principles for achieving operational excellence
• Interplay between management principles and executive function in driving business process
• Achieving synergy between top management and other employees for improved operational efficiency
• The crucial role of company leadership in aligning objectives and strengthening decision making
• A critical analysis of management theories: exploring the role of functional managers in achieving goals
• Optimizing the management process to achieve organizational goals
• Effective business process management consists of strategic allocation for company growth
• How to manage challenges created by leadership and top management
• Optimizing business process management through collaborative efforts between top managers and the best employees
• Crucial managerial skills: Optimizing processes through nurturing talent and celebrating human efforts
• The role of the functional manager in talent acquisition and optimizing human resource management
• Why business process management involves determining the journey, not just the destination
• Aligning employee decision-making with business objectives
• How process-centered leadership empowers organizations to manage change
• Process improvement through agile methodologies
• The evolution of process management thought
• The role of information technology in business process management
• The impact of business process management on customer satisfaction and retention

Additional Interesting Topics of Business

If you can choose from a wide range of topics, this list is for you. Impress your professor with an intriguing topic assignment:

• Measuring the ROI: Key metrics and techniques for demonstrating value to stakeholders
• Effective change management: how to implement and adapt
• Digital transformation in business management
• Strategies for handling and overcoming business crises
• Strategies for reducing environmental impact and promoting social responsibility
• Best practices and emerging trends for effective online branding
• Strategies for driving innovation and creating a culture of creativity
• Managing human resources in small business
• Strategies for managing cash flow, budgets, and investments
• The importance of market research and analysis for effective business management
• Using game mechanics to improve employee performance and engagement
• Strategies for effective time management and priorities in a busy workplace
• Strategies and tactics for successful business deals
• Emerging trends in remote work, automation, and AI
• Benefits and best practices for reducing stress and improving productivity
• Creating a workplace culture that fosters happy employees
• How understanding human behavior can inform business decision making
• Is servant leadership a new paradigm for effective business management?
• Techniques for handling uncertainty and complexity in an organization
• The role of entrepreneurial mindset and creativity in business success

Business Assignment Sample Essay

In the next section of the article, you will find a sample business management essay to help you understand how to structure and write a successful business assignment. Read through it carefully and take notes on the techniques used.

Further Academic Help

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Learn how to write a business essay in 7 simple steps, october 07, 2021.

Creating business-oriented content which is compelling, persuasive, insightful and well-structured, is not a cakewalk. Moreover, you need to use the appropriate language, present the essay as per the requirement, and offer significant content backed by data-driven ideas. 

A step-by-step guide to teach you how to write a business essay

You may need to write a business essay for your admission to the business school or an essay about time management or you may have to present a detailed report based on a business idea in your company. In any case, the task requires hard work and dedication.

If you don’t have time to learn how to write a business essay, you can always delegate it to a research paper writing service and let professional academic writers take care of it. However, we’ve made the following step-by-step guide to prepare you if you decide to do it yourself.

Start with a thorough analysis of the essay prompt

Now, this can indeed be a tricky one. Be attentive enough to understand what the essay prompt is about. It can either be a discuss-type essay or a case study. Analyze the topic carefully because your entire essay depends on this information. Be mindful of the keywords such as illustrate, compare, criticize, or explain. Decide your approach based on such keywords. 

Your thesis, choice of vocabulary, the structure of the essay, and the concluding thoughts should be in synchroneity with the essay prompt. Do not start composing your essay until and unless you are 100% sure about the given topic. 

Come up with a strong thesis statement

Your thesis decides the fate of the rest of the content. It needs to be powerful and effective. It is the foundation of your essay, and you don’t want to develop your essay on shaky ground, right? 

A thesis statement is a statement that comprises the main theme of your argument and an idea about what your readers can expect from the essay. Remember that a thesis statement acts as the “make or break” point for the essay. 

Come up with an impactful thesis statement, and define it using descriptive words. Be unambiguous. Use your resources, or ask a professional essay writer to do my assignment online if you need some help in writing a compelling thesis statement for your business essay. 

Create a well-structured outline for your essay

Depending on whether it is a case study or a discussion-type essay, you need to write an outline first. Once you are done with the outline, connecting the dots will be much easier. Hence, when learning how to write a business essay, the outline rules are imperative.

For a case-study type essay, you can use the following outline:

• Introduction
• Body/Main content
• Concluding thoughts
• Bibliography

For a discuss-type essay, the following outline can be effective:

• List of references

Research, study, repeat

A business essay should not sound like storytelling. You cannot use your fancy and refined vocabulary to increase the word count. Rather, you will need stats, data, and intricate business information to write your business essay. 

So, before you start working on it, make sure you research a lot. Jot down every relevant point, bookmark necessary pages, and spend time studying the topic. Once you are confident enough about the topic, proceed with the essay. You can also speedup your work by using services that write papers for money . It’s a quick and effective way to get things done.

Prepare the first draft

Do not take a risk with your business essay. Because the majority of the time, it is an important determiner of your grades. Adorn your thinking hat, and start writing the essay as thoughts come pouring in. 

Corrections, editing, and omissions can be done later during the proofreading stage. Right now, focus on the first draft. Go with the flow and do not stop, as this is the time you will get the best inputs and ideas for your essay.

Edit and proofread recklessly

And, before adding a conclusion, how to write a business essay guide, as well as any kind of writings, requires proofreading. Now that you have the first draft of your business essay ready, start proofreading. Double-check every word. Read between the lines. Add anything that you feel is relevant and remove everything unnecessary.

Use tools and software to polish the content. Avoid leaving any grammatical errors in the text. Also, remember that plagiarized content can have serious consequences.

Finalize your draft and add a conclusion

After the editing, you can get a printed copy of the draft. Try reading the essay aloud, and pay attention to all the minute details such as language, date, spellings, and punctuations. You should also notice if the flow of the essay is proper. If the flow breaks at any point during the reading aloud session, it should be improved. If everything sounds well, go ahead with it. 

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Business Essay Format: Types, Examples, & a Writing Guide

Business essay format implies many details that are equally important to consider. Start with defining a business research paper type and then go deeper into the details of the work.

We offer to follow this proven algorithm. Take simple steps to make business management essay writing easier:

• First, let’s figure out the main challenges of business essay
• Second, get familiar with the methods you can use for your essay about business.
• Then, follow the steps necessary for writing a good quality paper.
• Finally, check out the real business essay examples we picked for you.

⬇️ Don’t waste time – all of this is below! ⬇️

🏁 Business Paper Format

• 📑 Business Paper Types
• ✍️ How to Write a Good Paper
• ⏲️ After You Wrote Your Paper

✨ Business Essay Examples

The Business essay format requires an analytical description of a specific situation in the market. Depending on the assignment, a student shall provide a way to explain, improve, or stabilize the situation.

During your studies, you will be asked to write essays about business many times. Even if management and finance are not your key subjects.

Students intending to link their careers with ventures and management are assigned more specific research papers about business (business plans, marketing analysis, and description of the business environment). In such a way, they can train their strategy-planning skills and global vision.

Research Paper about Business. Main Challenges

• Undefinable focus group size. If business research does not consider a vast target audience, its results may be inaccurate. Meanwhile, only budget and time determines how many people will be surveyed. Nobody knows how many is enough or too few.
• Biased population. The people surveyed in the course of business research may have the same background and income level. The researcher shall address different groups of people to see the whole picture.
• High cost. Some business research requires much investment. In particular, this statement is valid for long-term analysis that explores business cycles. But there are many NGOs and international organizations that offer grants to projects with a feasible business proposal.
• The research quickly outlives its usefulness. The modern world evolves exponentially. For business ideas, two-year-old research data is desperately outdated.
• Low precision of findings. Research papers about business are based on assumptions. It is possible to study the current situation, but no predictions are 100% accurate.

📑 Business Research Paper Types

Business research is a valuable source of detailed information on all business levels. Its findings are crucial for the development of an enterprise and its return on investments. The research helps establish the goals, find the weak points, and test a venture’s opportunities. There are multiple types of research in business.

Let’s dive in!

Business Research Paper. Quantitative Methods

Survey-based research.

Survey-based research involves asking questions through online polls, surveys, or questionnaires. Companies use this method to collect market data and make correct business decisions. Previously, marketing specialists surveyed people in person. Now they question the population online via mailout or social media.

There are four types of survey research. The first two of them focus on the time frame. The last two differ by the purpose and do not emphasize statistical accuracy.

• Cross-sectional surveys gather data from the audience at a selected point in time.
• Longitudinal surveys collect data from the audience across a long period to understand how the respondents’ behavior changes throughout the given period.
• Explanatory surveys collect ideas and insights for business challenges.
• Descriptive surveys explore the public opinion, typical behavior, or attitude of a group of people.

Correlation Analysis

Correlation analysis is done to understand the co-dependence between two or several entities. In methodology, it is similar to a cause-effect study. But the results of correlation analysis are not conclusive. They require qualitative research or descriptive conclusions. The main features of correlation analysis are:

• It establishes the relationship strength between two numerical variables.
• The result is formulated as a positive (strong or weak), a negative, or no relationship.
• It is usually calculated in percentage.

Experimental Research

Experimental research intends to prove a theory. It is useful in exploring the consumer’s behavioral traits and finding out the possible ways to increase revenue. The researchers watch a focus group that undergoes the predesigned scenarios. Later they analyze the audience’s typical and divergent behavior to use the knowledge in improving their business.

• It consists of a hypothesis, a variable that the researcher manipulates, and a set of evaluated variables.
• Experimental research is done in a controlled environment.
• The results can be used in a cause-effect study.

Cause-Effect Study

Cause-effect study shows which factors are the cause and which are the consequences. It is planned and structured, which makes its findings conclusive. The researchers select a set of variables and apply mathematical analysis to their evolution in time.

More than often, this study is the next step to experimental research. Having determined the relationships between the variables, researchers can predict their future development. These are the most typical features of a cause-effect study:

• It is quasi-experimental research.
• It uses experimentation to find if a relationship between factors is causal or they are not related.
• There are always dependent and independent variables, so the main challenge is to consider all the elements.

Business Research Paper. Qualitative Methods

Case study: research papers about business.

Case studies are the most wide-spread practice in marketing research. They provide insights into the client’s behavior and preferences. It is also the best way to explore the possibilities of a given product in the market.

A case study usually describes and explains the success or effectiveness of a product or activity. As well as allows analyzing their negative aspects.

• The researchers need to explain why they selected such or another case.
• The right selection of the point of view on the subject defines the efficiency of the study.
• Many companies publish their case studies on their websites to boast of their success and attract new clients.
• A case study investigates a fact in a real-life context to find trends.

Online Research Paper about Business

Researchers find literature sources online, analyze their relevance to the given problem, and compare it. This comparison makes online research a semi-qualitative method as it requires ranging the materials by their importance. Still, it is a collection of secondary data, and one shall be very selective about the resources.

• Online research consists of analyzing available materials at libraries, annual reports, company listings, etc.
• The advancement of online databases has made this method the quickest and simplest one.
• It can be used at the initial stages of more in-depth investigations, like cause-effect or experimental studies.

Website Visitor Profiling

The method is also called website intercept surveys. It has emerged in recent years as thousands of new companies appear on the market.

Enterprises need to find out which of their website visitors are potential clients. They place client surveys right on their websites to collect direct feedback. Another source of visitor profiling is website analytical information. It shows the number and frequency of visits, returning clients, and which data they consume the most.

These are the main features of the profiling:

• It provides companies with extensive comprehension of who visits their website and why. No business can succeed without knowing their clientele!
• Most survey questions are about client satisfaction, path, and intentions.
• The demographical profiling follows all the statistical laws. That is why the more people answer the survey questions, the more accurate the results become.
• The researchers can explore user experience with the website and analyze questions and answers on more global client-related issues.

Interviews are similar to surveys, with the only difference in the depth of answers. Interviews allow clients to give open-ended responses, express themselves, and share their experience of dealing with the company.

Interviews are perfect for finding a solution to a question that could not be answered through quantitative research. For example, why a particular group of clients avoids purchasing certain goods.

• Extensive answers are a benefit, as they provide more accurate and personal information than standardized questionaries. But they are also a drawback, making feedback analysis a lengthy and resource-consuming task.
• The method is highly effective in collecting in-depth information on personal opinions, preferences, and experiences.
• For business research purposes, interviews contain the same set of questions for all the clients. It facilitates processing the answers.

✍️ How to Write a Good Business Research Paper

Conduct a primary research.

It is the broadest stage that encompasses all the possible sources, including social media posts and blogs. Not only research materials contain the information that is essential for a business.

Go beyond the boundaries!

Sometimes, unexpected insights wait in the most unexpected places. If your subject area involves the human factor, ask your friends and relatives what they think about the topic. It happens that people who are distant from your research issues show the most realistic view of things.

Literature for Your Business Essay Writing

This step is required to generate ideas and decide which information you are going to use. The latter will help you when choosing a topic and outlining the structure.

Review the books, guidelines, reports, and journals on the subject matter. Soon you will learn that not all its aspects are equally covered in the literature. Make a note of the most and the least accessible and reliable literature.

Most research, including business one, starts with a literature review part. To write something new, you should know what has been written by others and build your paper.

Choose Your Business Essay Topic

Avoid selecting topics that are insufficiently discussed in the literature (you have noted them in the previous step). Still, if you have much to write on the poorly covered topics, it is your advantage, and you will meet less competition.

If you have too few options, conduct brainstorming. Write down everything that comes to your mind, then cross out the weakest versions until the best one is left.

You can as well use the list of topics on the most perspective spheres in business .

Outline Your Business Essay Structure

The structure of all essays about business varies enormously according to the subject field, expected length, writer’s qualification, and research purpose. Still, some sections remain in all of them. The following paragraphs are the crucial parts that you can use as a template.

• Introduction. If you doubt how to write a business essay introduction, write it after the background information. Summarize the critical idea and comment on how you will address it. You can add definitions of terms you will use in the essay. Conclude the introduction with a thesis statement. It should consist of a sentence or two that concisely represent the purposes and scope of your paper.
• Literature review. This section describes any available background information you consider relevant to the title of your essay.
• Findings or analysis. If you write a research paper, this part discusses the results of your research. For a business essay, dedicate this section to analyzing the literature from the previous paragraph or the given business situation.
• Conclusion. Start with reiterating the main points of your findings. Then draw a logical conclusion of these points. Make your point of view transparent to the reader. Finally, give some recommendations for further study of the subject matter.
• Bibliography. The citation style determines the rules of this part.
• Appendices . Insert here the supporting materials (graphs or charts) that are too large to be included in the main body.

⏲️ After You Wrote a Business Paper

Edit & proofread.

The difference between proofreading and editing is the level of text taken into account for each check and correction. You edit words (spelling) and sentences (grammar, punctuation, and syntaxis). Meanwhile, you proofread the entire paper, verifying its logical flow, overall focus, and organization.

For this reason, put your work aside for a day or two before you start proofreading it. Try to read it as if it was for the first time. If you have to read something several times to understand, change that part or delete it. Eliminate all the unnecessary filler words.

Use Our Business Paper Checklist

Here’s a very helpful checklist with the aspects necessary for a good research paper. Go through the questions below and make notes on what needs to be revised.

• Does the title of your paper match the thesis statement and conclusion?
• Does your business essay follow a logical order?
• Are all the numerical examples taken from reliable sources, and are they up-to-date?
• Is the topical sentence at the beginning of each main body paragraph supported by what follows it?
• Are there references to all the used sources?
• Are there sources in your bibliography that you never referenced? (If yes, delete them)
• Is the language academic and easy to understand?
• Is the spelling, grammar, syntaxis, and punctuation correct?

And the last thing we prepared for you! Ready-made business essays you can use for inspiration.

Check it out!

Although the possible business essay topics are endless, some are used more often for study purposes. Below you can find a list of the most popular issues with essay examples. Their format is valid for most universities.

International Business Essay

International business is a topical sphere of economic activity nowadays. Overseas environment, culture, and particular features of doing business are the issues that define success.

• Etihad Airways and Business Internationalization
• Company Internationalisation, Its Ways and Reasons
• Coca-Cola Company: International Marketing
• Apple Company’s Penetration Strategy in the Russian Market
• Internet Influence on International Marketing
• Cultural Differences’ Impacts on International Business
• Samsung Group’s Entry Modes into Global Market

Business Law Essay

Business or commercial law is a branch of civil law that deals with personal and public issues. Like any other human activity, this sphere is subject to strict rules and regulations. Their violation entails problems for both sides of a contract.

• Corporate Governance Models in the UK and the US
• Transparency in Kuwaiti Corporate Governance and Stock Market
• Apple Inc’s Supply Chain, Ethics, and Governance
• Corporate Governance Concept and Its Implications

Business Management Essay

Management is a technical task that requires logic, time-management, efficiency, leadership, and global vision. Managers do not produce any product of their own. Without them, no product will be created and sold as they function as the link between employees, suppliers, and clients.

• Product Development Life Cycle Phases
• Kitchen Fashionable Furniture Company’s Marketing Plan
• Unilever Company: “Dove” Brand Evolution
• BlackBerry Brand Management and Competition
• Alibaba Group: New Brand Strategy
• Business Transformation: Innovation, Creativity, and Design
• Business Research Methods
• Management Philosophies and Corporate Performance
• Global Business Management and Strategies

Business Ethics Essay

Business ethics is a traditional way of behavior that facilitates the implementation of business law. It establishes the acceptable forms of action in corporations and the market. It also promotes integrity within a company, facilitating its interaction with investors and consumers.

• Facebook’s Information Ethics and Privacy Issues
• Business Ethics, Corporate Social Responsibility, and Moral
• Enron Company’s Business Ethics
• Corporate Social Responsibility on Customers
• Ethics Program Development for Company
• Louis Vuitton Company Business Ethics
• Work Ethics Application and Protection
• Business Ethics and Ethical Decision Making
• Ethical and Moral Issues Influence on Business

We sincerely hope that this guide improved your understanding of how to write a research paper about business.

If something is still not fully clear, go through it again, try to find another angle of perception.

Remember that creativity is always welcome in any kind of writing, though be careful – don’t overdo it.

Below you can find additional sources that we recommend to read.

Breathe out and just do it!

🔗 References

• Business Research: Definition, Methods, Types, and Examples
• Guide for Writing in Business; Southwestern University
• Academic Writing in the Business School: The Genre of a Business Case Report
• Qualitative and Quantitative Research for Small Business
• HARVARD BUSINESS SCHOOL WORKING PAPERS COLLECTION
• Recent Papers in Business Management; Academia.edu

Research Paper Analysis: How to Analyze a Research Article + Example

Film analysis: example, format, and outline + topics & prompts.

17.01.2021  in  Essay

7 Best Tips to Write a Great Business Management Essay

7 sure shot tips for students to write an impressive business management essay.

Business management has become a popular degree to pursue. It helps you get high-paying jobs and create a wonderful career. You can develop as a leader and even take on roles like CEOs and COOs. There is no dearth of jobs, as countless industries will offer employment in your expertise. Check out the potential of studying business management.

Studying business management can be rewarding. However, doing your coursework may turn out quite challenging. For example, students need to write business management essays as part of their course. The job is not easy and can land many students in a fix. 

To help you out, I will provide the top tips on how to write a business management essay. You will learn everything you need to impress your professors and get a good grade. 

So, let us start with the most fundamental step.

1. Understand Your Topic

Topics for essays on business management can cover a wide spectrum. You should have a clear understanding of your topic and what it demands. Ask your professor what they expect from you if you are unable to understand your topic. You can also discuss with your friends and develop a better grasp on what you should write.

Additionally, note down any instruction and business essay format your teacher gives. You will need to follow them closely if you want to write a good essay. Also, ask how many words your professor is expecting from your assignment.

2. Research Heavily

The next thing to do is to research for the topic you got. You will have to find materials and resources to build up and write your essay. Plus, you will need evidence to support your arguments and prove your point. You can try the following methods to do your research.

Review Class Materials

Your business management essay topic will relate to what you learn in your class. So, the best place to start is the materials provided by your college and professors. Collect all the material you think you will need and sort them accordingly. 

You can also ask your friends to send you resources that you may have missed in class.

Books can be a great place to expand your research. You can use books you got or rent more from the library. However, choose books that are relevant to your topic. 

Research on the Internet

Internet is a perfect place to gather the materials and resources you need. A simple Google search can lead you to the appropriate resources you need to write your business essay. You can look for.

• Journals and studies that relate to your topic
• Publications from leading media houses
• Essays from authoritative sources
• News articles and releases

Bookmark or download the materials from the internet for easy access.

3. Brainstorm like Crazy

Now you will have to come up with what you want to write in your essay. You will have to prove your thesis or create an argument to support or disprove your topic. So, you should have an idea of what to include in your management essay. 

Read the materials you collected to form an idea of what to write. Look for resources that support or provide evidence to your arguments and logic. You can also consult with your professor if it is possible to do so.

Create an Outline

Having a fixed structure of what to write is recommended even for expert writers. It helps you stay in line and not digress from your topic. Your research and brainstorming will help you develop an outline for business essay writing.  Let us say your topic is “how to boost employee motivation.” So, your outline can look something like.

a. Introduction

  Talk about how the loss of motivation can hamper the productivity and profitability of the business. (You can include statistics to prove your point)

b. Main Body

You can now start with ways to boost employee motivation. 

• Make every employee feel valued
• Introduce incentives schemes to reward good performance
• Involve employees in decision-making
• Help employees maintain work-life balance
• Set realistic goals and show appreciation for good work

c. Conclusion

Sum up your points and conclude with your take on the topic. 

Now, you can use your outline to write your essay and cover all points. You can also divide the total word count and dedicate a limit for each section. For example, let us say you need to write a 500-word essay.

So, your introduction can cover 100 words. You can then divide 350 words between the five ways to boost employee motivation. The remaining 50 words will be sufficient for writing your conclusion. 

4. Read Business Essay Examples

Not everyone has the talent to write proficiently. You may be new to the area and not know what it demands. As a result, you should familiarize yourself with some examples before you write your essay.

You will find ample examples on the internet to help you out. Pick out a good one and see what a good essay entails. You should check out how the author introduces the arguments and provides evidence. Plus, also focus on how essays use sources to back up facts and opinions.

Your essay will most probably need to follow a certain format. It can be APA, MLA, Harvard, or something else your college follows. You will have to include citations and also provide a bibliography.

Keep an eye for things you need to implement for your assignment. You can learn a lot just by going over examples of professionally-written essays.

5. Start Your Writing

By now, you are familiar with writing essays for your business management course. You also have your outline and the resources you need. So, it is time to start typing your business essay.

Follow the word count you decided during your outline. Writing more or less than what you need may take a toll on your grades. So, it is better to stick to your recommended word limit. You can also use the following tips for the best results-

• Write formally with correct grammar and spellings
• Do not include casual words or use short forms of verbs
• Maintain an authoritative voice 
• Present your arguments confidently
• Provide facts or evidence for your arguments
• Use proper paragraphing and spacing
• Include in-text citations if you are asked to
• Create a bibliography for resources you used

6. Check, Proofread, Edit

Don’t turn in your assignment before giving it a final check. You should read and reread your essay at least 2 – 3 times to make sure it is perfect. Some online proofreading tools can also help you weed out errors. You can also request a friend to give your essay a read and highlight any mistakes.

You should also

• Check the flow of your ideas
• Ensure your arguments are consistent
• Check if all citations are present
• Ensure you followed the format and instructions
• Delete any unnecessary parts that do not add value
• Limit your essay within your word limit

7. Seek Professional Help

Some business management essay topics can be too difficult to handle. Additionally, not all of us have the gift of writing naturally. However, that does not mean you should miss out on your grades. 

Several business essay writing agencies are now available to handle your assignments. You can hire expert writers for excellent results and professional service. There is no need to worry anymore, as you have the right talent to write your essays. 

Remember to do a bit of research and choose the  best essay writing company . You should not make any compromise when it comes to academics. 

Final Thoughts

I hope you are now fully confident to tackle your business management assignment. Use the tips I provided to write a professional essay that wins your teacher’s appreciation. Good grades will naturally follow when you do everything perfectly. Students who are not proficient in writing can obviously hire professional services. You don’t need to suffer for the skills you don’t have. Choose a reliable writing agency for the best experience.

What format do I need to follow for my business essay?

Your teacher will tell you the format to follow for your assignment. The standard formats include APA, MLA, and Harvard.

Should I write an outline for my business management paper?

Creating an outline will help you cover all your points and write conveniently. So, making an outline is a good move.

Can I include news articles as sources for my essay?

You can add any credible source to your essay. Just don't forget to mention it in your citations and references.

How to Write a Business Management Essay

Photo by  mali maeder  from  pexels.

Many people are interested in pursuing a degree in business management. Are you one of these people? Such a degree opens wide your options because there are dozens of  career opportunities, including owning your own business.

RELATED ARTICLE: AFFORDABLE WAYS TO START A SUCCESSFUL BUSINESS

The field of business management has evolved in spectacular fashion over recent decades. This is largely due to the role technology now plays. Moreover, it is safe to say that the practice of business management will continue to evolve. Therefore, now is an exciting time to pursue a course of studies in the field of business management. Although sometimes you may resort to the services of EssayHub to buy essay online , you will still need to know how the basics of essay writing.

What Does It Take to Write a Good Business Management Essay?

In your studies, you will soon learn that there are four essential aspects to the proper management of any business. These are planning, organizing, leading, and controlling.

The good news is that a course of studies in the field of business management will teach you these core skills.

Another of the many things that business management students must learn is how to write a proper essay. The skills you acquire by writing such papers will help you tackle the bigger challenges you will face after you finish school.

When you need to write an essay for one of your business management classes, follow the steps below.

1. Conduct Thorough Analysis of the Research Question

Most likely, your professor assigned a research question for you to write about in your essay, so begin here. Carry out comprehensive research about this question. Take notes as you go, and continue until you thoroughly understand the subject you’re to write about.

Then analyze the results of your research. Organize your notes in a fashion that makes sense to you.

2. Write a Clear Summary of Your Essay Plan

Your analysis of your research should provide you with clarity about your subject. Having an overview of the matter, regardless of the specific area of business management you’re writing about, helps you to organize your ideas.

At this point, write a summary of your essay plan. This will help you to spot flaws in your thinking and identify gaps in your research.

This a simple practice that can help you to write a better business management essay. However, most students fail to realize the importance of writing a brief summary beforehand. Make sure you don’t ignore it.

3. Craft Your Business Management Essay

Now, it’s time to sit down with your laptop and begin writing the first draft of your business management report. If you prefer, grab a pen and paper instead.

Of course, a good business management essay must begin with a powerful introduction. Therefore, carefully craft an introduction that will capture the reader’s attention and make them want to read your paper.

Once you have written your introduction, move on to the body of your report. This is where you’re going to convey your main point. Follow up with any background information that is pertinent to the subject at hand.

Finish with a conclusion that summarizes your report. The conclusion should be short, clear, and simple.

4. Include and Verify All References

In the citations section of your essay, be sure to include references to everything you read in the research phase of preparing your essay.

Using whatever format your professor requires , give credit where credit is due. In other words, don’t quote an expert without citing that person.

Nor should you take someone else’s idea for a business management approach and claim it for your own. That’s just wrong. Instead, reference the article you took the idea from in the citations section of your essay.

5. Proofread and Reevaluate Your Entire Business Management Essay

Once you have reached this point, you’re almost finished, but don’t grow complacent yet.

Carefully reread your report and make changes where necessary. During this phase of the process, you will likely notice errors of one kind or another. Perhaps it’s only a few spelling or grammatical errors. Hopefully, it’s not in your premise, in which case you might need to rework your entire essay.

If you reach a point with your essay where you have done everything you know how to do and it is still not developed in the way you had hoped, you might want to visit a site such as https://writepaperfor.me/complete-coursework-for-me . This is a powerful academic helper that provides assistance on all sorts of writing coursework. According to top essay writing service reviews , this academic helper is considered one of the best for students.

Make Your Business Management Essays Better Than Ever

Writing an essay is never an easy task. However, in the process of writing it, you will learn more about your field of business management.

Moreover, you will develop valuable skills that will help you in the long run. And once you have written it, you will feel fulfilled and satisfied. So get started writing now.

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• Writing Guides

How To Write Essay on Management?

Contrary to the common stereotypical belief that management is a skill that is needed by leaders only, everyone is in need of it. Management concepts such as organizing, coordinating, and planning are essential within the confines of an organization. It is hence fitting for all employees to equip themselves with management skills regardless of the position they holds. In theory, management skills might seem easy and management students are often at the fault for thinking that they can use books to master the different concepts involved. However, as a skill, management is developed outside the confines of a classroom and often requires numerous practical scenarios for one to comprehend its importance. Interpersonal relations, goal-setting, as well as achievement of common goals and targets, are all dependent on management. It is thus an important ingredient when talking about success and high-profit margins.

Table of Contents

Content of this article

• How to write essay on management?
• Introduction
• Body paragraphs
• Tips on introduction writing
• Tips on body paragraphs writing
• Tips on conclusion writing
• Sources for essay choice
• Finalizing essay
• Example of writing

1. How to write an essay on management?

Management essay writing is a key test that instructors use to assess their students. However, unlike other tests and essays, management essays seek to determine whether students are conversant with some of the concepts and practical skills within the management course. Management papers seek more than just how much students can remember and calls for critical thinking. They seek to test how much information students can execute or apply when faced with different management issues. Many college essays often test students’ capability to discern what the instructor is asking of them and then apply the standard methods to answer. Conversely, management papers do ask of these things but also tend to go further and seek to understand a student’s application skills as well as their ability to execute practically what they learned in theory. An essay on management can be difficult to handle if a student is used to straightforward questions and book-like answers. Memorization is important when learning but when one is handling papers on management, memorization, as well as deep comprehension of concepts, is essential.

2. Management essay structure

2.1 outline.

All essays are structured and thus need a format to act as a guide to writers. Management essays use the standard essay format, that is, they have an introduction with a thesis statement, a body that has supporting arguments, and finally, a conclusion that reiterates the writer’s stance or argument. Structuring a management essay outline is thus a simple task, and that needs to be adhered to at all times. If an essay lacks one of the above parts, it is hence termed incomplete, and a student can get penalized or be asked to redo the work.

Below is an example of a universal outline for a management essay that can be of help to students:

2.1.1 Introduction

• Introduce the topic selected or understudy.
•  A brief discussion of the topic.
• The article’s main argument or thesis statement declares the writer’s stance.
• Discussion of the first argument.
• Supporting argument or statement or example.

2.1.3 Conclusion

• Reiteration of the thesis argument or statement.
• A summary of the main arguments.

3. Tips on writing

3.1 introductory paragraph.

Writing an introduction for a management essay can be a problem for some students. The above is especially true for students who are used to memorizing answers and never consider the option of gaining a deeper comprehension of the concepts being taught. The basic tips for writing a management essay begin with the introduction. How one starts the essay says a lot about their mastery of the language and the extent of the imagination. It is hence essential to have a good introduction that will entice the readers.

In the introduction, a writer is expected to provide a brief overview of the topic at hand. Regardless of the topic chosen, the writer is expected to either develop an argument and support it or provide knowledge on some concepts that are prevalent in society. Readers lose interest fast and it is thus essential to outline the paper’s main argument in the introduction. An introduction should help arouse a reader’s interest and ensure that they are fascinated enough to want to read the whole essay.

3.2 Body Paragraphs

The body paragraphs of a management essay support the writer’s argument or provide more information on the knowledge being discussed. Like other essays, management essay paragraphs often have five to six sentences while the number of paragraphs included is dependent on the task assigned. A look at many management writing guides will reveal that each paragraph often has its point or argument. Topic sentences are indeed essential here, and each needs to stand out and have supporting sentences that reinforce its main point. The use of transition words is also encouraged, but writers need to be wary of the number they include in their essays.

3.3 Concluding Paragraph

How conclude a management essay is not as hard as starting. Like all other essays, the conclusion restates the thesis statement and the main arguments. Therefore, a management essay conclusion should not be a problem, but all the above is dependent on how much research one did. While some of the parts discussed might seem easy when reading the tips, if thorough research is not done on a topic, the result will indeed be disastrous.

4. Sources for Essay Choice

Online sources where students can find good essays exist but it is essential to enquire about the reliability of the sources first. Apart from the online sources, one can also analyze the various management issues in society today and easily get an essay. Examples of some sources include:

–    http://openvocabs.org/top-five-interesting-management-essay-research-paper-topics

5. Finalizing Essay

When reviewing the tips for management essay writing, two things will always emerge. They include essay revision and proofreading. Once the writer is through with their essay, it is important first to give it to close friends or family members who can help one to identify some of the mistakes and misconceptions within the paper. Essay revision is of the essence and helps writers to submit essays that are factual and free of obvious mistakes. Proofreading is also as important as revision, and it mainly helps one to avoid some obvious grammatical errors. Everyone makes mistakes, and once the essay is complete, there will certainly be one or two punctuation, sentence structure, or grammar mistakes. Submitting an essay with such mistakes will unquestionably lead to a poor grade. It is, therefore, necessary to proofread an essay before submitting it and ensure that it is free of obvious and trivial mistakes.

Bonus. Management essay example

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IB Business Management Extended Essay: The Complete Guide

by  Antony W

April 12, 2024

The extended essay in business management requires you to demonstrate your ability to analyze commercial activities at different economy levels.

A business management extended essay requires you to choose a topic, develop a research question, conduct in-depth research, and write a critically analyzed argument with credible data and evidence.

In this guide, we look at the research question, structure, assessment criteria, grade descriptors, and tips you can use to write a high quality EE report in business management.

Research Question

An extended essay research question is important because the entire business management report hinges on it.

A good RQ for this report should align with the scope, concepts and techniques, research materials, usefulness and application, and engagement in the subject.

1. Focus on the Scope of the Topic

Scope refers to the breadth of the topic you choose.

Don’t select a topic that lacks sufficient materials to cover the 4,000 words limit. Instead, select a highly specific business management EE topic , one for which you can find sufficient information to write a more comprehensive report.

Then come up with a research question that aligns with it.

2. Apply Business Concepts and Techniques

Develop a research question for which you can apply business analysis methods, terminologies, and techniques you’ve learned in the classroom.

Ensure the question has a tight link to the syllabus while allowing you to draw direct link to theoretical concepts taught in the business management course.

Your task here isn’t to show off your knowledge. Your teacher expects you to prove you understand and can apply what you’ve learned. 

3. Ensure Availability of Research Materials

Ignore a research question that lacks depth of materials and knowledge base to warrant a 4,000-word treatment.

If you can’t access highly relevant records or useful research data for the question, look for a different one.

4. Make Your RQ Useful and Applicable

Ensure your RQ, or issue, is relevant and applicable to the current business environment.

You must draw your inspiration only from journals and newspapers that give you current ideas.

5. Make Your Research Question Engaging

Don’t develop a research issue based only on the merit of ease and personal interest.

Focus on something you’ve actually investigated or have always wanted to research. By doing so, you’ll have an easy time fulfilling the engagement part of the grading criteria.

IB Business Management Extended Essay Structure

The structure of a business management extended essay features a title page, table of contents, introduction, methodology, body, conclusion, and bibliography.

The title page doesn’t contribute to the overall world count of the EE. However, the title page is an import part of the structure because it includes the following significant information:

• Title: It should not be a question but a clear, summarized statement of the research question.
• Research Question: Write the RQ in this part.
• Subject: The subject should be “Business Management”.
• Word Count: Indicate the number of words in your essay.

Don’t write your name, candidate name, date, or school name on the title page, as they’re no longer part of the new structure.

Table of Content

Table of contents is also not part of the word count, but it’s an essential part of the assignment. Include all the parts of your business management EE in this section with their respective page numbers.

Introduction (About 250 Words)

Your introduction should provide a clear context for your research question.

• Describe why your research is interesting, as well as why it’s important to your audience.
• Ensure your audience understands what you’ll be exploring, how you intend to explore your research question, and how valuable your research is to them.

Methodology (About 350 Words)

Divide the methodology in two parts, one for the source and one the other one for the tools. Also, ensure you mention the limitations and drawbacks of these sources and tools.

• Sources: State and explain the primary and secondary sources of your research. The sources can include news articles, company annual reports, magazine articles, and encyclopedia. Include the benefits and drawback of each source, keeping in mind that a majority of your research should come from secondary sources.
• Tools: State the tools you’ll use for analysis, discussion, and evaluation. Explain why you’re going to use these tools and how relevant they’re to your business management assignment. Mention any changes to your toolset should there be any, along with an explanation on why such changes were necessary.

Main Body (About 2800 Words)

The main body of the business management extended essay is at most 2,800 words long. It’s in this section that you share your research, analysis, discussion, and evaluation.

Divide the main body into two sections, one for the tools and the other for your research:

• Tools: Show your teacher you know how to do what you’ve learned in a business management class.
• Research: Make an impression with your research, even if it goes beyond what you’ve learned in the classroom.

Each paragraph should relate to the research question. Therefore, the analysis, discussion, and evaluation have to include relevant tools and research.

The conclusion ties everything together to show what you’ve done to answer your research question. Mention the limitation of your research and explain any other unresolved question.

However, the conclusion of your EE shouldn’t introduce new ideas (ideas you haven’t addressed in the body parts of the essay. 

Bibliography

Aim for 3 or 4 pages of sources for the bibliography. However, keep in mind that the bibliography isn’t part of your word count.

Business Management EE Rubric

IB evaluates business management extended essays based on the following 5 criteria:

• Focus and method 
• Knowledge and understanding
• Critical thinking
• Presentation

The grades range from A to E, with the top grade having a maximum of 34 points and anything worse than a C being a fail.

While the professional judgment of selected instructors can affect your grades, these descriptors used to determine the actual grade that you get in the end.

Criterion A: Focus and Method 

Criterion A examines how unique, focused, intelligent, and analytical you’re when using techniques learned in the course and outside the classroom.

Evaluators expect you to demonstrate your scholastic ability to apply theories in practical situations, come up with answers to you research issue, and offer a possible solution to the problem at hand.

To score a 6 for focus and method:

• Develop a clear, focused research question.
• Use secondary sources for topic research.
• Support your arguments with relevant, recent, and credible evidence or data.
• Develop a well-organized, logical methodology leading up to your conclusions. 

Criteria B: Knowledge and Understanding

Knowledge and understanding focuses on not only how much you’ve learned in the course but also how well you can apply the concepts taught in class to the real world.

To show a business-oriented thinking, use business terminologies.

You can use abstract concepts in the paper, but you should also add thorough explanation your process using a simple language that readers can understand.

Diagrams and charts can help explain concepts that would be hard to explain in words, but it’s important to explain each so that your ideas are clear.

As you explain business trends linked to your research topic, ensure your ideas follow an analytical process while remaining grounded in the case you’re exploring.

Criteria C: Critical Thinking

To score high on this criterion, show a unique application of business concepts, technique, theories, and methods to analyze the problem under investigation.

• Back your argument with in-depth, credible research.
• Be self-critical, making sure you evaluate the accuracy and reliability of your sources.
• Comment on the gaps or weaknesses your arguments don’t solve and suggest what you think researchers can do to solve these issues.
• Use the analytical techniques learned in the course to follow up every point you make in your business management extended essay.

Criterion D: Presentation

The presentation criterion looks at how well you organize and communicate your ideas. The common academic standards evaluated include:

• A clear and easy to understand language
• Clearly labeled charts, graphs, figures, and images
• A well-structured essay with headings and subheadings

Criterion E: Engagement

Criterion E evaluates how you engage with the research topic based on the subject’s intersection in your life.

Avoid using a third-person perspective because doing so will earn you few points.

Quite instances of personal interactions instead, and show that the research question you choose is relevant to you and others.

Extended Essay Grade Descriptors

The following are the grade descriptors used for IB Business Management Extended Essay:

Descriptor A

To get an A, you must have a clear research question, conduct relevant research, and demonstrate expert knowledge and understanding of the materials taught in the classroom.

Also, show a comprehensive engagement to and explanation of the problem.

Your extended essay in business management should feature a logical, structural layout, include key reflections, and have relevant, accurate conclusions.

Descriptor B

To score a B, you need to demonstrate good knowledge of research, appropriate research skill, and a reasonable application of the business concepts and techniques learned in the classroom.

Also, offer a synthesis of an effective research question, a satisfactory presentation, and conclusion supported by evidence presented in the IB business management extended essay.

Descriptor C

Students who score a C for their extended essay in business management are those who display some knowledge and understanding of the key concepts involved, including reasonable application of the topic.

However, the essay fails to synthesize the research question, it offers descriptive instead of an evaluative discussion, there are errors in the arguments use, and structure used is poor.

Descriptor D

Business management extended essays that score a D reflect poor research that lead to a general focus.

Although the essay shows some relevant knowledge of the topic, the content is full of discrepancies and inaccuracies.

In addition to the lack of a logical structure and coherent readability, the essay lacks a critical evaluation of the topic and the conclusions are inconsistent.

Descriptor E

An E is the grade awarded to an unclear essay with an unsystematic approach. The essay lacks a clear focus because it portrays limited knowledge of key concept, not to mention it has an inconsistent analysis and an inaccurate conclusion.

Tips to Write a Compelling IB Business Management Extended Essay

1.  Choose Your Research Question

The research question for your IB Business Management Extended essay should not be practical or actionable.

This is applicable only in the Internal Assessment.

Also, make your research question focused, not too broad and not to narrow. While you should be asking relatively simple questions, make sure they aren’t too obvious.

2.  Formatting Your Work

Your IB teacher will also look into how you format your work. So it’s important to make sure you get this right from the start.

Use the Times New Roman font type and 12-point font size. Double space your work and make sure every page has a number.

3.  Citing Sources

You need to cite all the sources you use in writing your IB Business Management Extended Essay. You can use any citation format, but it’s preferable to MLA.

And don’t worry if you find citing sources somewhat confusing. Our  guide on sources and citation   should be enough to point you in the right direction.

4. Sticking to the Word Count

Your piece of research should not exceed  4,000 words.

Even if you feel like you have a lot to write to  make your ideas clear ,  you should trim down during revision if your work is more than 4,000 words already.

5. Write a Great Reflection

The   reflection   for your IB Business Management Extended essay is not only important as the other parts of the assignment.

It’s also about 18% of the total grade. So you should give it your best shot.

6. Edit Your Work Thoroughly

Reading a 4,000-word IB Business Management Extended Essay after spending so many hours writing it can be rather boring and much less time consuming.

But doing so is the only way to make sure your essay is good enough for submission and ready for marking.

• Look out for grammar and spelling mistakes and fix them. Use a tool such as Grammarly to make your work easier
• Rewrite longer sentences, making them short and concise.
• Don’t hesitate to trim down word count in a sentence if you can say the same thing but in fewer words
• Do parts of your essay sound redundant? Delete them, regardless of where they appear in the essay
• Have you used a source you haven’t cited? Go back and fix the error

Editing your work thoroughly isn’t the fun part of working on an IB Business Management Extended Essay. However, it goes a long way to make your essay read better.

Can I Buy a Business Management Extended Essay Online?

You can buy an extended essay on Help for Assessment and one of our top writers will work on it from start to finish. We focus on in-depth research, proper structure, custom writing, in-depth editing, and timely submission.

Our writing services are affordable, and it’s not an exception for the extended essay in this subject. You pay as low as $12.99 to $40 per page depending on the urgency. There’s even a 10% discount for customers new to Help for Assessment.

About the author 

Antony W is a professional writer and coach at Help for Assessment. He spends countless hours every day researching and writing great content filled with expert advice on how to write engaging essays, research papers, and assignments.

Business Essay Examples

13 Business Essay Examples for Students

14 min read

Published on: May 1, 2023

Last updated on: Jan 30, 2024

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Are you struggling to figure out the structure, research, or data required to make your essay stand out? Or frustrated by the lack of inspiration and ideas for your essay?

But don't give up yet! We have a powerful solution that will make your essay writing a breeze. Our list of business essay examples is here to help! 

We have compiled expertly written business essay examples that will illustrate how to write a striking business essay.

With our examples, you'll be able to see how to structure your essay and generate creative ideas for your topic. And our tips will help you make the most of these examples.

So, let's dive in and get ready to learn!

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What is a Business Essay?

A business essay is a type of academic writing that focuses on business-related topics and issues. These essays can cover a wide range of topics such as marketing, finance, management, entrepreneurship, and more.

The importance of business essay lies in presenting a well-researched and informed analysis. To do this effectively, writers need to conduct extensive research and analysis on the topic at hand.

Referring to examples of business essays can help you gain insight into the structure, tone, and content of a well-written essay.

Business Essay Examples For Students

Here is a list of business writing examples

Business Essay Examples Pdf

Business Essay Example Grade 10

Business Essay Example Grade 11

A Level Business Essay Examples

University Business Essay Examples

International Business Essay Examples

Short Essay About Business

College Essay About Starting A Business

Types of Business Essay with Examples

When it comes to business essay writing, there are several different types that you might encounter. 

Here's a brief overview of each type, including their characteristics and an example of each.

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Case Studies

A case study is an in-depth analysis of a specific business situation or problem. It involves extensive research and data analysis to provide recommendations.

Case studies often showcase the application of theory to real-world business scenarios.

Research Papers

Research papers involve a more academic approach to business writing. They typically require an extensive literature review, data analysis, and original research. 

Business research papers aim to contribute new knowledge to the field of business. These often involve a hypothesis or research question.

Argumentative Essays

Argumentative business essays aim to persuade the reader to adopt a particular point of view or take a specific action. They present an argument and use evidence and logic to support their claims. 

Argumentative essays can address various business topics such as management practices, ethical issues, or market trends.

White Papers

A white paper is a document that provides a detailed explanation of a particular issue or problem, often with recommendations or solutions. 

White papers are typically used to educate stakeholders about a specific topic. These are often used in the business-to-business (B2B) context.

Comparative Essays 

Comparative business essays compare and contrast two or more topics or ideas. They typically analyze the similarities and differences between the topics to evaluate their pros and cons. 

Comparative essays can focus on various aspects such as products, companies, markets, or strategies.

How to Structure Your Business Essays

As you begin writing your business essay, it's important to structure it in a clear and organized way. 

Here's a step-by-step guide with business essay samples to help you do just that:

Executive Summary

The executive summary is a brief overview of your entire essay. It should summarize your main points and highlight your recommendations. 

This section should be written after completing the essay, as it gives a clear picture of what the essay covers. 

Here is how you start a business essay sample:

Introduction

The introduction sets the stage for the rest of the essay. It should introduce the topic, provide background information, and explain the purpose of the essay. 

Here is a business essay introduction example:

Industry Analysis

In this section, you'll conduct a thorough analysis of the industry in which the business operates. You should examine factors such as competition, market trends, and customer behavior. 

Here is a sample industry analysis

Key Issues or Problems

This section should identify the main issues or problems faced by the business. You should provide evidence to support your claims and analyze the impact of these issues. 

Here is an example paragraph:

Solutions or Recommendation

Here, you'll provide solutions or recommendations to address the issues identified in the previous section. Your solutions should be well-supported and feasible. 

For instance:

Implementation Plan

For this part, you'll outline a plan for implementing the solutions or recommendations you've proposed. This is sort of a description of the business model you suggest. 

This section should be detailed and include specific action steps. 

For example:

Finally, you'll wrap up your essay by summarizing your main points and reiterating your recommendations. 

This section should be clear, concise, and impactful. 

By following this structure, your business essay will be well-organized, coherent, and easy to follow for your readers.

Tips for Using Business Essay Examples Effectively

Now that you have quite a few business essay examples at hand, you should know how to use them effectively:

• Use them as a guide, not a template : While it's great to learn from examples, you should never copy them outright. Instead, use them as a starting point for your own research and writing.
• Analyze the strengths and weaknesses of the essay : Take note of what works well in the example essay, as well as any areas that could be improved. This will help you understand how to make your own essay even better.
• Use them to inform your own research and writing : Pay attention to the research methods, sources, and evidence used in the example essay. This can give you ideas for your own research and help you strengthen your arguments.
• Avoid plagiarism and ensure proper citation: Whenever you use ideas or information from an example, make sure to cite your sources. This will help you avoid plagiarism and maintain academic integrity.

You now have a plenty of business essay examples on different topics to help you get started!

By following our tips and studying the sample essays, you can confidently write your own essays that are clear, concise, and impactful. 

However, if you still find yourself struggling with your business essays, just reach out to our professional business essay writing service . 

We have the best online essay writing service and are ready to provide you a high-quality business. Our writing service has subject specialist writers who can tackle any business essay topic.  

So why wait? Contact us today and let our AI essay writer take your business essays to the next level!

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Four Functions of Management

Introduction, controlling.

Every organization, in spite of its enormity, has fully developed and implemented management concepts that enable smooth running of activities aimed at realising the projected vision, goals and objectives.

The functions of management break down into four areas that take care of strategic, tactical and operational pronouncements of an organization. Thus, management in an organization is a creative tool of solving problems through planning, organizing, leading and controlling. In essence, the functions of management solve a particular problem facing an organization.

Consequently, the results will provide an avenue of accomplishing the goals, objectives and mission of the organization. The functions of management in an organization is to provide a framework of focussing both short and long term views hence, foster it towards success.

Additionally, management as a decision-making process entails a premeditated vision, fixed goals, a crafted plan, all which if executed and implemented properly, will see an organization achieve its mission.

From in-house operations to industry, the functions of management serve to address issues affecting a certain organization for example, effective utilization of resources, appraisal of core competencies, evaluation of the present and prospect participants, and strategic control among others (Himanshu, 2009, p.1).

Nevertheless, the four function of management cannot bring success into an organization minus sound leadership from the mangers. In most cases, the manager’s style of leadership affects the operation of an organization, positively or negatively. Thus, good managers should exhibit certain traits and skills, which will enable an organization, achieve its mission, goals and objectives.

For example, an organization with highly skilled workers makes managers to be allowing, while an organization with less skilled workforce mandates the manager to take a closer look on production.

Thus, god managers are the ones who flex their style, train and inspire employees to work towards the realization of vision, goals and objectives. The paper will examine the four functions of management namely: planning, organizing, directing and controlling within an organization (Haridimos, 2004, pp. 289-301).

This is the first contrivance of the four function of an organization’s management process. Primarily, the success of an organization depends on the planning procedure. The planning procedure is the one that determines whether a manager is successful or not. Planning provides logical understanding on how to make decisions, which will drive an organization towards the path of attaining its objectives.

Good managers use a planning process to plan for expectations, and as a blueprint to predict quandaries, which might hinder an organization form achieving its objectives.

In addition, the planning process provides measures for prevaricating intricate issues and a framework of beating competition. Thus, planning is an essential tool of management in that it facilitates control, which is a valuable strategy in decision-making hence averting business ravage.

A good planned business example is GlaxoSmithKline. This is an international pharmaceutical company with a vision of providing superior healthcare services. Both the mangers and employees of this company commit themselves to excellence in line with its mission and vision statement.

The planning process of GlaxoSmithKline entails how to attain quality results, respecting others, and teamwork in order to achieve goals. Since the commencement of this plan, GlaxoSmithKline has grown into an international pharmaceutical company with branches all over the world and a healthcare leader (Bateman &Snell, 2007, p. 16).

Organizing helps managers to attain all objectives as delineated in the planning procedure. Primarily, organisation involves appointing of individuals to perform certain assignments, which are paramount in developing a uniform rationale of accomplishing goals.

Thus, this calls upon the manger to exercise personal traits and skills in order to choose competent subordinates who are capable of organising the valuable resources of the organisation to produce results.

A good organisation is the one characterised by management staffing, several trainings among employees, inflow of resources and a prolific workforce. Managers also ought to discuss the developed plans with the subordinates, and break the assignments into smaller segments manageable by one person. In so going, the organisation will have well-structured and manageable units working towards achieving objectives.

For example, the organisation of Microsoft presents one of the best business examples. Characterised by flexibility, changeability and new products, Microsoft has achieved its goals and objectives through its planning process and organisation. Moreover, the managers of Microsoft offers direction for staff that is paramount to personal success hence, organizational success.

Based on experience and personal traits, the managers use communication as a tool of solving any arising issues. In fact, Microsoft would not be a world leader in IT had it not been its exceptional organisation (Bretti, 2009, pp. 15-18).

The third function of management is direction or leading. This aspect of management helps managers to supervise the actions of the workforce and set the path of achieving goals and objectives of the company. Leading also promotes incentive, good communication, leadership and unit dynamics necessary in attaining goals and objectives.

Many people understand the role of leadership to an organisation as it is the one, which inspires actions in the direction of goals and objectives. Thus, good mangers are those who motivate employees to an eminent aspiration and assign them responsibilities as stated in the planning process. In addition, managers must also maintain a close contact with the employees in order to realise the vision, goals and objectives of the company.

For instance, managers at GlaxoSmithKline motivate employees to work towards achieving the goals and objectives of the corporation and surpass their market competitors. The managers have a daily contact with the staff either individually or as a team.

Thus, the management team plays an important role in the management process by unearthing innovative mechanisms, which solve problems that might hinder the process of achieving goals (Gomez, Luis, Balkin, & Robert, 2008, pp. 18-21).

The final stage of a management process is controlling, which involves the implementation of the developed plan. This process involves the establishment of recital standards pedestal to the company’s vision, goals and objectives. In addition, it engrosses evaluating and reporting of all actions within the company and gauging whether they lime with the goals and objectives.

A good control process within a management system is the one that eases the delegation of duties and holds each skilled worker responsible. For example, in GlaxoSmithKline, managers hold departmental meetings on a daily basis. Thus, they are in apposition to review the daily schedule, evaluate any emanating problem, and solve it before it becomes too late.

In GlaxoSmithKline, control sets the standards for performance of the workforce thus, mandating workers to work towards goals and objectives.

It also ensures that workers take and complete assignments within a given duration while following the laid guidelines. Otherwise, workers are liable for disciplinary measures should they fail to comply. In most cases, managers employ work performance evaluations as a form of control aimed at attaining the set goals (Blue, 2007, 135-136).

For any business to achieve its vision, goals and objectives, planning, organizing, leading and controlling are necessary. These four functions of management provide a framework of achieving the company’s objectives. Nevertheless, without guidance from the management team and individual contribution from employees, success is cannot be a reality.

Bateman, T. & Snell, S., 2007. Management: Leading and collaborating in a Competitive World. (7th ed.). New York: McGraw – Hill.

Blue, R., 2007. Functions of management. Journal of the American Society for Information Science, 40(2), 135-136.

Bretti, A., 2009. Four Functions of management, Journal of Physical Distribution & Logistics, 1(1), 15-18.

Gomez, M., Luis, R., Balkin, B. & Robert L., 2008. Management: People, Performance, Change . (3rd ed.). New York: McGraw-Hill.

Haridimos, T., 2004. What is Management? An Outline of a Metatheory. British Journal of Management, 5(9), 289-301.

Himanshu, J. 2009. Functions of Management Web.

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IvyPanda. (2023, October 29). Four Functions of Management. https://ivypanda.com/essays/four-functions-of-management/

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IvyPanda . 2023. "Four Functions of Management." October 29, 2023. https://ivypanda.com/essays/four-functions-of-management/.

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Bibliography

IvyPanda . "Four Functions of Management." October 29, 2023. https://ivypanda.com/essays/four-functions-of-management/.

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How To Start A Business In 11 Steps (2024 Guide)

Updated: Apr 7, 2024, 1:44pm

Table of Contents

Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).

Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business.

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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.

Consistency Is Key

New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.

Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.

If you don’t have a firm idea of what your business will entail, ask yourself the following questions:

• What do you love to do?
• What do you hate to do?
• Can you think of something that would make those things easier?
• What are you good at?
• What do others come to you for advice about?
• If you were given ten minutes to give a five-minute speech on any topic, what would it be?
• What’s something you’ve always wanted to do, but lacked resources for?

These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things to consider:

• What type of funding do you have?
• How much time do you have to invest in your business?
• Do you prefer to work from home or at an office or workshop?
• What interests and passions do you have?
• Can you sell information (such as a course), rather than a product?
• What skills or expertise do you have?
• How fast do you need to scale your business?
• What kind of support do you have to start your business?
• Are you partnering with someone else?
• Does the franchise model make more sense to you?

Consider Popular Business Ideas

Not sure what business to start? Consider one of these popular business ideas:

• Start a Franchise
• Start a Blog
• Start an Online Store
• Start a Dropshipping Business
• Start a Cleaning Business
• Start a Bookkeeping Business
• Start a Clothing Business
• Start a Landscaping Business
• Start a Consulting Business
• Start a Photography Business
• Start a Vending Machine Business

Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.

Primary Research

The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.

Secondary Research

Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.

Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.

A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:

• Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
• Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
• Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
• Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
• Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
• Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
• Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
• Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
• Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.

Learn more: Download our free simple business plan template .

Come Up With an Exit Strategy

An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.

The most common exit strategies are:

• Selling the business to another party
• Passing the business down to family members
• Liquidating the business assets
• Closing the doors and walking away

Develop a Scalable Business Model

As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.

Some common scalable business models are:

• Subscription-based businesses
• Businesses that sell digital products
• Franchise businesses
• Network marketing businesses

Start Planning for Taxes

One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.

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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.

An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.

• LLCs offer liability protection for the owners
• They’re one of the easiest business entities to set up
• You can have a single-member LLC
• You may be required to file additional paperwork with your state on a regular basis
• LLCs can’t issue stock
• You’ll need to pay annual filing fees to your state

Limited Liability Partnership (LLP)

An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.

• Partners have limited liability for the debts and actions of the LLP
• LLPs are easy to form and don’t require much paperwork
• There’s no limit to the number of partners in an LLP
• Partners are required to actively take part in the business
• LLPs can’t issue stock
• All partners are personally liable for any malpractice claims against the business

Sole Proprietorship

If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.

• Sole proprietorships are easy to form
• There’s no need to file additional paperwork with your state
• You’re in complete control of the business
• You’re personally liable for all business debts
• It can be difficult to raise money for a sole proprietorship
• The business may have a limited lifespan

Corporation

A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.

• Corporations offer liability protection for the owners
• The life span of a corporation is not limited
• A corporation can have an unlimited number of shareholders
• Corporations are subject to double taxation
• They’re more expensive and complicated to set up than other business structures
• The shareholders may have limited liability

Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.

Helpful Resources

• How To Set Up an LLC in 7 Steps
• How To Start a Sole Proprietorship
• How To Start a Corporation
• How To Start a Nonprofit
• How To Start a 501(c)(3)

There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:

Choose Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).

Business Name vs. DBA

There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.

You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:

• It can help you open a business bank account under your business name
• A DBA can be used as a “trade name” to brand your products or services
• A DBA can be used to get a business license

Register Your Business and Obtain an EIN

You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.

Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.

Get Appropriate Licenses and Permits

Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.

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Open a Business Bank Account

Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.

Hire a Bookkeeper or Get Accounting Software

If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.

Determine Your Break-Even Point

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.

When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.

In contrast, the contribution margin = total sales revenue – cost to make product

For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

This means that you need to sell at least 456 units just to cover your costs. If you can sell more than 456 units in your first month, you will make a profit.

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There are many different ways to fund your business—some require considerable effort, while others are easier to obtain. Two categories of funding exist: internal and external.

Internal funding includes:

• Personal savings
• Credit cards
• Funds from friends and family

If you finance the business with your own funds or with credit cards, you have to pay the debt on the credit cards and you’ve lost a chunk of your wealth if the business fails. By allowing your family members or friends to invest in your business, you are risking hard feelings and strained relationships if the company goes under. Business owners who want to minimize these risks may consider external funding.

External funding includes:

• Small business loans
• Small business grants
• Angel investors
• Venture capital
• Crowdfunding

Small businesses may have to use a combination of several sources of capital. Consider how much money is needed, how long it will take before the company can repay it and how risk-tolerant you are. No matter which source you use, plan for profit. It’s far better to take home six figures than make seven figures and only keep $80,000 of it.

Funding ideas include:

• Invoice factoring: With invoice factoring , you can sell your unpaid invoices to a third party at a discount.
• Business lines of credit: Apply for a business line of credit , which is similar to a personal line of credit. The credit limit and interest rate will be based on your business’s revenue, credit score and financial history.
• Equipment financing: If you need to purchase expensive equipment for your business, you can finance it with a loan or lease.
• Small Business Administration (SBA) microloans: Microloans are up to $50,000 loans that can be used for working capital, inventory or supplies and machinery or equipment.
• Grants: The federal government offers grants for businesses that promote innovation, export growth or are located in historically disadvantaged areas. You can also find grants through local and regional organizations.
• Crowdfunding: With crowdfunding , you can raise money from a large group of people by soliciting donations or selling equity in your company.

Choose the right funding source for your business by considering the amount of money you need, the time frame for repayment and your tolerance for risk.

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You need to have insurance for your business , even if it’s a home-based business or you don’t have any employees. The type of insurance you need depends on your business model and what risks you face. You might need more than one type of policy, and you might need additional coverage as your business grows. In most states, workers’ compensation insurance is required by law if you have employees.

Work With an Agent To Get Insured

An insurance agent can help determine what coverages are appropriate for your business and find policies from insurers that offer the best rates. An independent insurance agent represents several different insurers, so they can shop around for the best rates and coverage options.

Basic Types of Business Insurance Coverage

• Liability insurance protects your business against third-party claims of bodily injury, property damage and personal injury such as defamation or false advertising.
• Property insurance covers the physical assets of your business, including your office space, equipment and inventory.
• Business interruption insurance pays for the loss of income if your business is forced to close temporarily due to a covered event such as a natural disaster.
• Product liability insurance protects against claims that your products caused bodily injury or property damage.
• Employee practices liability insurance covers claims from employees alleging discrimination, sexual harassment or other wrongful termination.
• Workers’ compensation insurance covers medical expenses and income replacement for employees who are injured on the job.
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Business tools can help make your life easier and make your business run more smoothly. The right tools can help you save time, automate tasks and make better decisions.

Consider the following tools in your arsenal:

• Accounting software : Track your business income and expenses, prepare financial statements and file taxes. Examples include QuickBooks and FreshBooks.
• Customer relationship management (CRM) software : This will help you manage your customer relationships, track sales and marketing data and automate tasks like customer service and follow-ups. Examples include Zoho CRM and monday.com.
• Project management software : Plan, execute and track projects. It can also be used to manage employee tasks and allocate resources. Examples include Airtable and ClickUp.
• Credit card processor : This will allow you to accept credit card payments from customers. Examples include Stripe and PayPal.
• Point of sale (POS) : A system that allows you to process customer payments. Some accounting software and CRM software have POS features built-in. Examples include Clover and Lightspeed.
• Virtual private network (VPN) : Provides a secure, private connection between your computer and the internet. This is important for businesses that handle sensitive data. Examples include NordVPN and ExpressVPN.
• Merchant services : When customers make a purchase, the money is deposited into your business account. You can also use merchant services to set up recurring billing or subscription payments. Examples include Square and Stripe.
• Email hosting : This allows you to create a professional email address with your own domain name. Examples include G Suite and Microsoft Office 365.

Many business owners spend so much money creating their products that there isn’t a marketing budget by the time they’ve launched. Alternatively, they’ve spent so much time developing the product that marketing is an afterthought.

Create a Website

Even if you’re a brick-and-mortar business, a web presence is essential. Creating a website doesn’t take long, either—you can have one done in as little as a weekend. You can make a standard informational website or an e-commerce site where you sell products online. If you sell products or services offline, include a page on your site where customers can find your locations and hours. Other pages to add include an “About Us” page, product or service pages, frequently asked questions (FAQs), a blog and contact information.

Optimize Your Site for SEO

After getting a website or e-commerce store, focus on optimizing it for search engines (SEO). This way, when a potential customer searches for specific keywords for your products, the search engine can point them to your site. SEO is a long-term strategy, so don’t expect a ton of traffic from search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions. Content marketing ideas include videos, customer testimonials, blog posts and demos. Consider content marketing one of the most critical tasks on your daily to-do list. This is used in conjunction with posting on social media.

Get Listed in Online Directories

Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. Some city halls and chambers of commerce have business directories too. Include your business in as many relevant directories as possible. You can also create listings for your business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be there too. Post content that’s interesting and relevant to your audience. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts. Both of these platforms have free ad training to help you market your business.

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To scale your business, you need to grow your customer base and revenue. This can be done by expanding your marketing efforts, improving your product or service, collaborating with other creators or adding new products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can focus on scaling the business. For example, if social media marketing is taking up too much of your time, consider using a platform such as Hootsuite to help you manage your accounts more efficiently. You can also consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes, including accounting, email marketing and lead generation. Doing this will give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances and make sure you’re still profitable. If you’re not making enough money to cover your costs, you need to either reduce your expenses or find ways to increase your revenue.

Build a Team

As your business grows, you’ll need to delegate tasks and put together a team of people who can help you run the day-to-day operations. This might include hiring additional staff, contractors or freelancers.

Resources for building a team include:

• Hiring platforms: To find the right candidates, hiring platforms, such as Indeed and Glassdoor, can help you post job descriptions, screen résumés and conduct video interviews.
• Job boards: Job boards such as Craigslist and Indeed allow you to post open positions for free.
• Social media: You can also use social media platforms such as LinkedIn and Facebook to find potential employees.
• Freelance platforms: Using Upwork, Freelancer and Fiverr can help you find talented freelancers for one-time or short-term projects. You can also outsource certain tasks, such as customer service, social media marketing or bookkeeping.

You might also consider partnering with other businesses in your industry. For example, if you’re a wedding planner, you could partner with a florist, photographer, catering company or venue. This way, you can offer your customers a one-stop shop for all their wedding needs. Another example is an e-commerce store that partners with a fulfillment center. This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster.

To find potential partnerships, search for businesses in your industry that complement what you do. For example, if you’re a web designer, you could partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewelry store or a hair salon.

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To rank the best states to start a business in 2024, Forbes Advisor analyzed 18 key metrics across five categories to determine which states are the best and worst to start a business in. Our ranking takes into consideration factors that impact businesses and their ability to succeed, such as business costs, business climate, economy, workforce and financial accessibility in each state. Check out the full report .

Starting a small business takes time, effort and perseverance. But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business.

How do I start a small business with no money?

There are several funding sources for brand-new businesses and most require a business plan to secure it. These include the SBA , private grants, angel investors, crowdfunding and venture capital.

What is the best business structure?

The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.

Do I need a business credit card?

You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit. Additionally, business credit cards often come with rewards and perks that can save you money on business expenses.

Do I need a special license or permit to start a small business?

The answer to this question will depend on the type of business you want to start and where you’re located. Some businesses, such as restaurants, will require a special permit or license to operate. Others, such as home daycare providers, may need to register with the state.

How much does it cost to create a business?

The cost of starting a business will vary depending on the size and type of company you want to create. For example, a home-based business will be less expensive to start than a brick-and-mortar store. Additionally, the cost of starting a business will increase if you need to rent or buy commercial space, hire employees or purchase inventory. You could potentially get started for free by dropshipping or selling digital goods.

How do I get a loan for a new business?

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history. You can also look into government-backed loans, such as those offered by the SBA. Startups may also be able to get loans from alternative lenders, including online platforms such as Kiva.

Do I need a business degree to start a business?

No, you don’t need a business degree to start a business. However, acquiring a degree in business or a related field can provide you with the understanding and ability to run an effective company. Additionally, you may want to consider taking some business courses if you don’t have a degree to learn more about starting and running a business. You can find these online and at your local Small Business Administration office.

What are some easy businesses to start?

One of the easiest businesses to start also has the lowest overhead: selling digital goods. This can include items such as e-books, online courses, audio files or software. If you have expertise in a particular area or niche, this is a great option for you. Dropshipping is also a great option because you don’t have to keep inventory. You could also buy wholesale products or create your own. Once you create your product, you can sell it through your own website or third-party platforms such as Amazon or Etsy.

What is the most profitable type of business?

There is no one answer to this question because the most profitable type of business will vary depending on a number of factors, such as your industry, location, target market and business model. However, some businesses tend to be more profitable than others, such as luxury goods, high-end services, business-to-business companies and subscription-based businesses. If you’re not sure what type of business to start, consider your strengths and interests, as well as the needs of your target market, to help you choose a profitable business idea.

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Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.

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Properly Write Your Degree

The correct way to communicate your degree to employers and others is by using the following formats:

Degree - This is the academic degree you are receiving. Your major is in addition to the degree; it can be added to the phrase or written separately.  Include the full name of your degree, major(s), minor(s), emphases, and certificates on your resume.

Double Majors - You will not be receiving two bachelor's degrees if you double major. Your primary major determines the degree (Bachelor of Arts or Bachelor of Science). If you're not fully sure which of your majors is primary, check CheckMarq or call the registrar's office.

Example: Primary Major: Psychology ; Secondary Major: Marketing

• Bachelor of Arts Degree in Psychology & Marketing

Primary Major: Marketing ; Secondary Major: Psychology

• Bachelor of Science Degree in Marketing & Psychology

In a letter, you may shorten your degree by writing it this way:

• In May 20XX, I will graduate with my Bachelor's degree in International Affairs.
• In December 20XX, I will graduate with my Master's degree in Counseling Education.

Not sure which degree you are graduating with? Here is a list of Undergraduate Majors and corresponding degrees:

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Small Business Trends

How to start a virtual assistant business.

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Starting a virtual assistant business is a great option for those wanting to start their own business. Having your own VA business enables you to set your own hours, work with different clients, and generate income. If you’re considering a virtual assistant business but aren’t sure what is a virtual assistant , how much do virtual assistants make when starting their own business? We’ll answer all those questions and more in this article.

What is a Virtual Assistant Business?

The virtual assistant industry has seen a boom over the last few years as more people have taken up the profession. A virtual assistant business offers specialized skills and services to business owners, ranging from general administrative tasks like scheduling appointments to customer relationship management and other services to busy professionals.

Is a Virtual Assistant Business Profitable?

Virtual assistants can generate significant income for themselves, but it depends on several factors such as hourly rate, working hours, number of clients, and more. In the US, the average salary for a virtual assistant is up to $20 an hour, but professionals can charge more or less depending on experience and availability.

Why You Should Start a Virtual Assistant Business

There are many reasons to start your own virtual assistant business. If you’re not sure how to start a virtual assistant business or why you should do it, here are just a few reasons why you should consider it:

• Low start-up costs.  You can start a virtual assistant business with very little money. All you need is a computer, an internet connection, and some basic office supplies.
• Flexibility.  You can work from anywhere in the world, and you can set your own hours. This is a great option for people who want to be their own boss and have a flexible work schedule.
• Variety of services.  Virtual assistants can offer a wide variety of services, from administrative tasks to marketing and social media management. This means that you can find a niche that you are passionate about and that you are good at.
• High demand.  The demand for virtual assistants is growing rapidly. This is because businesses are increasingly looking for ways to outsource non-core tasks to save money and time.
• Potential for high income.  Virtual assistants can earn a good living. The average hourly rate for a virtual assistant is around $20. However, some virtual assistants can earn much more than that, depending on their skills and experience.

Starting a virtual assistant business is a great way to be your own boss and have a flexible work schedule. If you are interested in starting a virtual assistant business, do your research and take the necessary steps to get started.

Here are some additional tips for starting a successful virtual assistant business:

• Build a strong online presence.  This includes having a professional website, being active on social media, and being listed in online directories.
• Network with other virtual assistants and business owners.  This is a great way to learn from others and to find new clients.
• Offer high-quality services. This means being reliable, and efficient, and providing excellent customer service.
• Be organized and efficient.  This will help you to manage your time effectively and to deliver high-quality work.
• Be patient and persistent. It takes time to build a successful virtual assistant business. Don’t get discouraged if you don’t see results immediately. Keep working hard and eventually, you will achieve your goals.

Starting a Virtual Assistant Business in 21 Simple Steps

Once you’re ready to be a virtual assistant, keep up the momentum and start setting up your business. We’ll walk you through how to create a successful virtual assistant business and how to become a virtual assistant for clients.

1. Choose a Niche

The first step to becoming a virtual assistant is to pick a niche for yourself. For example, some VA businesses only focus on administrative tasks, while others offer services like maintaining social media accounts, scheduling, and other ad-hoc tasks that a personal assistant might offer. Think about your skills and where you think you can offer the most value, and go from there.

2. Know Your Target Market

Once you’ve identified your niche, think about who your target market is. Are you going for a busy professional, such as a solopreneur or a real estate agent? Or would you instead offer VA services to a small business or company?

Many virtual assistants work as a personal assistant or as a virtual receptionist for businesses, while others work with multiple clients.

3. Create Business Plan

Developing a business plan involves more than just outlining services. It should include a detailed analysis of the potential market, a clear definition of your unique selling proposition, and an in-depth operational plan.

This plan should detail how you’ll manage daily operations, client communications, and service delivery. It’s also crucial to include a financial plan with a break-even analysis, cash flow projections, and a pricing strategy that balances competitiveness with profitability.

Your business becomes more official once you make a business plan, which consists of several elements:

• A business name, business license, and legal entity, if needed
• Information about who you’re targeting as your market
• How you plan on gaining new clients
• Marketing materials for your business
• Operating expenses
• Income targets

4. Set Up a Business Bank Account and Credit Card

Once you’ve come up with a business plan and a brand for your VA business, your next step is organizing income. A business bank account and credit card help separate your work money from your personal money and make filing taxes easier.

5. Consider Taking Our Business Insurance

Business insurance is an essential step because it protects you from liabilities and gives your business more security. It’s a cost-effective way to keep your business operating. It makes you look credible to potential clients, and it can help with marketing efforts.

6. Invest in the Relevant Tech

VA businesses need the right tech to offer their services to busy clients, which can vary depending on the type of tasks being completed. Some important equipment to consider includes:

• A second monitor/screen
• Good quality headphones
• Office chair

7. Sort Out Your Business Structure and Register

There are different business registration options and legal entities you can use to structure your business and pay for taxes.

• You can work as a sole/independent contractor and report your earnings to the IRS. For this option, you should work with a tax professional to understand how much state and federal taxes you’ll need to withhold
• You can register as an LLC and pay yourself a salary
• Another option is to register your business as a corporation, but that may have different tax implications depending on the state you are in

8. Plan a Marketing Strategy

Now that your business is up and running, it’s time to think about marketing yourself to small business owners and online businesses.

Make sure to highlight how virtual savvy you are, how you can offer value to business owners, and be clear about the services you offer. Look at elements of your business plan to define your marketing strategy and what channels will be best suited for your services.

9. Price Your Services

When hiring virtual assistants, most businesses tend to worry about costs – especially small businesses. Being upfront and competitive with your pricing will set you apart from other VA businesses.

Before pricing yourself, look at what others in your area are charging, especially those with a similar experience level. Some VA businesses start with a low hourly rate such as $15-20 an hour to entice small businesses and then raise prices once they gain an established client base. You can also charge flat fees and retainers for different services, and create pricing packages to appeal to different clients.

10. Create a Business Website

As a new business, establishing yourself is key – a website helps make that happen, and it can make the difference in landing your first client. You can create a sleek and simple website that showcases your services, and it can serve as your business card.

11. Market Your Business and Find Clients

Market your business through a variety of channels such as social media, paid ads, and local newspapers to reach as many people as possible. You can find virtual assistant jobs and apply to them on job sites as well to broaden your search for clients. Dedicate at least some time in the month to market to your current network and find new clients to build your business.

Marketing for a virtual assistant business should not only cover the basics like social media and local ads but also include networking strategies, building a referral system, and establishing partnerships with complementary businesses.

Utilize digital marketing tools such as SEO, content marketing, and email campaigns to reach a broader audience. Attend industry events and webinars to network with potential clients and peers.

Crafting a unique brand story and consistently sharing it across all platforms can significantly increase your visibility and appeal to your target market.

12. Search for Virtual Assistants

You can find virtual assistants to grow your network and extend your service offerings through third-party websites and LinkedIn. This way, you’ll have a strong connection with virtual assistants in different locations and areas to increase your coverage for clients and expand.

13. Invest in a Time Tracking Tool

Most virtual assistants start with hourly contracts, which is why time tracking tools are so useful. You’ll be able to bill clients with transparency, and also keep an eye on working hours, output, and how you can grow your business.

Some great time tracking tools include:

14. Ask for Reviews

Reviews are everything! Once you build up a solid base of customers and have regular work coming in, make sure to ask them for reviews! Glowing reviews can really make a difference in building your client base, so make sure to periodically ask. You can post reviews as testimonials on your website, on professional profiles for networking, and other channels as a marketing strategy.

15. Develop a Scalable Service Portfolio

As your virtual assistant business grows, consider diversifying your services. This can involve upskilling in areas like digital marketing, bookkeeping, or specialized administrative tasks. Offering a range of services not only attracts a broader client base but also provides opportunities for upselling to existing clients.

16. Implement Efficient Workflow Systems

Use project management and collaboration tools like Asana, Trello, or Slack to streamline workflows. Efficient systems save time and improve client satisfaction. Automating routine tasks with tools like Zapier can also increase productivity, allowing you to focus on more critical aspects of your business.

17. Focus on Client Relationship Management

Building strong relationships with clients is key to a successful virtual assistant business. Regular check-ins, personalized services, and understanding each client’s unique business needs can lead to long-term partnerships. Consider using CRM tools to manage client interactions and ensure a personalized approach to service delivery.

18. Continuous Professional Development

Stay updated with the latest trends and tools in the virtual assistant field. Regularly invest in training and certifications to enhance your skill set. This ongoing learning not only keeps you competitive but also allows you to offer more advanced services to clients.

19. Build a Strong Online Community

Create a community around your brand by engaging with followers on social media, starting a blog, or creating a newsletter. Share tips, industry insights, and personal experiences to establish yourself as a thought leader in the virtual assistant space.

20. Explore Collaboration Opportunities

Partner with other virtual assistants or freelancers to offer a wider range of services. Collaborations can lead to new client referrals and allow you to take on larger projects that require a diverse skill set.

21. Scale Your Business

As you build your services and grow your business, think about how you want to expand. Do you want to offer more personal assistants to businesses to increase coverage? Or do you want to grow your current client base and try to offer more services to entice them?

Scaling your business is about balancing capabilities with resources, and looking at what your clients are asking for and how you can provide them more value.

Virtual Assistant Services

There are many specialized services that virtual assistants offer, and different kinds of virtual assistant tasks depending on business needs. Here are some of the key virtual assistant services your business should be offering:

• Social media management and maintaining a social media presence: Handling and curating content across social media platforms to engage with the audience and promote brand visibility.
• Freelance writing: Providing writing services on a contract basis for various clients, publications, or businesses.
• Data entry: Entering, organizing, and managing data into databases, spreadsheets, or systems.
• Administrative support: Assisting with general office tasks, organizing files, scheduling appointments, and coordinating administrative duties.
• Answering and taking phone calls: Responding to incoming calls, providing information, and handling inquiries.
• Scheduling: Managing calendars, and appointments, and coordinating meetings for individuals or teams.
• Email management: Organizing, filtering, and responding to emails efficiently.
• Travel arrangements: Planning and coordinating travel logistics, including flights, accommodations, and transportation.
• Customer support: Assisting customers with inquiries, and issues, and providing solutions to ensure satisfaction.
• Community management: Engaging and interacting with online communities on behalf of a brand or organization.
• Digital marketing: Promoting products or services through various digital channels, such as social media, SEO, and email marketing.
• Project management: Overseeing and coordinating projects from planning to execution, ensuring successful completion within set timelines and budget.

What skills and qualifications do I need to become a virtual assistant?

To become a virtual assistant, you should possess strong organizational, communication, and time management skills. Familiarity with various software and online tools is also beneficial.

How do I determine my services and target market as a virtual assistant?

Assess your strengths, interests, and expertise to define the services you can offer. Identify your target market based on industries or professionals that align with your skills.

What equipment and software are necessary to start a virtual assistant business?

You’ll need a reliable computer, high-speed internet connection, and essential office software such as word processors, email clients, and project management tools.

How do I set my pricing and payment terms as a virtual assistant?

Research industry rates and consider your experience when setting prices. Define clear payment terms, including payment methods, due dates, and any upfront fees.

How can I market and promote my virtual assistant services?

Utilize social media platforms, create a professional website, and network within your target market. Offer free resources and showcase your expertise to attract potential clients.

What legal and financial aspects should I consider when starting a virtual assistant business?

Register your business, obtain necessary licenses, and review tax requirements for your location. Consider liability insurance to protect yourself from potential risks.

How do I establish strong client relationships and maintain professionalism?

Communicate promptly and effectively with clients. Be reliable, meet deadlines, and provide high-quality work. Respect confidentiality and handle client information with care.

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Opinion | An NPR editor is now a former NPR editor after his resignation

Uri Berliner, an NPR business editor who wrote a scathing essay about his organization in another publication, no longer works at NPR.

This is how I led my newsletter on Tuesday:

When a senior editor at NPR recently wrote a 3,500-word essay for another outlet, blasting where he works and saying that NPR had “lost America’s trust,” my first thought, quite frankly, was, “ … and he still works there?”

We now have an answer to that question. No, Uri Berliner, the business editor who wrote the scathing essay, no longer works at NPR.

But he wasn’t fired. He quit.

On Wednesday, one day after it was learned he was serving a five-day suspension, Berliner released this statement : “I am resigning from NPR, a great American institution where I have worked for 25 years. I don’t support calls to defund NPR. I respect the integrity of my colleagues and wish for NPR to thrive and do important journalism. But I cannot work in a newsroom where I am disparaged by a new CEO whose divisive views confirm the very problems at NPR that I cite in my Free Press essay.”

Berliner is talking about Katherine Maher, a former tech executive who took over as NPR’s CEO in January. In the past, well before she joined NPR, Maher criticized Donald Trump and embraced what could be viewed as progressive causes on social media. It should be noted that the CEO at NPR is not involved in editorial decisions at the network.

Last week, after Berliner’s essay appeared in The Free Press, Maher wrote to staff (in a memo that was then published online ), “Asking a question about whether we’re living up to our mission should always be fair game: after all, journalism is nothing if not hard questions. Questioning whether our people are serving our mission with integrity, based on little more than the recognition of their identity, is profoundly disrespectful, hurtful, and demeaning.”

After Berliner’s essay appeared, NPR chief news executive Edith Chapin responded by telling staff, “We’re proud to stand behind the exceptional work that our desks and shows do to cover a wide range of challenging stories. We believe that inclusion — among our staff, with our sourcing, and in our overall coverage — is critical to telling the nuanced stories of this country and our world.”

Berliner’s essay is being embraced and amplified by many on the right, including former President Donald Trump and conservative activist Christopher Rufo. Meanwhile, much of NPR’s staff was outraged by their colleague’s essay.

The New York Times’ Benjamin Mullin wrote , “Mr. Berliner’s essay stirred up a hornet’s nest of criticism of NPR and made Mr. Berliner something of a pariah within the network. Several employees told The New York Times that they no longer wished to work with him, and his essay was denounced by Edith Chapin, the network’s top editor.”

Steve Inskeep, co-host of NPR’s “Morning Edition,” wrote on Substack , “This article needed a better editor. I don’t know who, if anyone, edited Uri’s story, but they let him publish an article that discredited itself. … A careful read of the article shows many sweeping statements for which the writer is unable to offer evidence.”

“Morning Edition” host Leila Fadel told The Washington Post’s Elahe Izadi , “Many feel this was a bad faith effort to undermine and endanger our reporters around the country and the world, rather than make us a stronger and more powerful news organization. He wrote what I think was a factually inaccurate take on our work that was filled with omissions to back his arguments.”

Mullin reported that “about 50” NPR employees signed a letter written to Maher and Chapin calling for a public rebuke of the “factual inaccuracies and elisions” in Berliner’s essay.

Then came Berliner’s resignation.

Mullin wrote, “In an interview, Mr. Berliner said his decision to resign from NPR coalesced early this week after an email exchange with Ms. Maher. He said in the interview that he could infer from one of her emails that a memo she had sent to employees last week about workplace integrity was referring to him even though he had not been mentioned by name. In the email, which was sent to Mr. Berliner on Monday, Ms. Maher said her memo ‘stands for itself in reflecting my perspective on our organization.’”

Berliner told Mullin, “Everything completely changed for me on Monday afternoon.”

Actually, it seemed as if everything changed when he wrote his essay for The Free Press.

Remembering a great journalist

Kim Christensen, a former Los Angeles Times investigative reporter who was a part of three Pulitzer Prize-winning projects, has died from cancer. He was 71.

Christensen was a part of two teams that won Pulitzers in the prestigious Public Service category while at the Los Angeles Times in 2011 and The Oregonian in 2001. He helped The Orange County Register win a 1996 Pulitzer for Investigative Reporting.

The Los Angeles Times’ Doug Smith described Christensen as a “dogged reporter beloved by colleagues for his wry humor, collegiality, graceful writing and incisive mind, but above all his humility.”

Tampa Bay Times executive editor Mark Katches told me, “Anyone who worked with him knew that he was incredibly gifted. I worked with Kim at the OC Register and teaming with him as a reporter was among the highlights of my career. He was funny, smart and as talented as they come.”

Katches told me he worked with Christensen on a project that ended with some shady charity players going to prison. Katches added, “He made everything and everyone around him better.”

Check out Smith’s story for more details on Christensen’s life and career.

The Academy Awards were more than a month ago and former President Donald Trump is still riled up over host Jimmy Kimmel. You might recall that Kimmel closed the Oscars ceremony by reading a post that Trump wrote about him. It got a big laugh from the celebrity crowd, especially when Kimmel said, “Well, thank you, President Trump. Thank you for watching, I’m surprised you’re still — isn’t it past your jail time?”

On his late-night show on ABC, Kimmel has continued to roast Trump over his legal issues and did so again Tuesday night. That led Trump to unleash a rant on Truth Social at 8:18 a.m. Wednesday.

Trump called him “Stupid Jimmy Kimmel” and criticized his performance as the Oscars host. Trump then bizarrely wrote, “… he stumbled through announcing the biggest award of all, ‘Picture of the Year.’ It was a CLASSIC CHOKE, one of the biggest ever in show business, and to top it off, he forgot to say the famous and mandatory line, ‘AND THE WINNER IS.’ Instead he stammered around as he opened the envelope.”

Actually, it wasn’t Kimmel who did that. It was actor Al Pacino who didn’t list the nominees and went straight to announcing “Oppenheimer” as Best Picture. Clearly, Trump was confused.

Although again, Kimmel got the last laugh, retweeting Trump’s rant and writing , “In fairness to our former President, many stable geniuses confuse me with Al Pacino….”

Hugh Grant agrees to settlement

Actor Hugh Grant, shown here last December. (Richard Shotwell/Invision/AP, File)

Actor Hugh Grant says he has settled his lawsuit against the U.K. tabloid The Sun for what he calls “an enormous sum of money.” Grant accused The Sun, which is part of Rupert Murdoch’s News Group Newspapers, of snooping on him by unlawfully tapping his phone, bugging his car and breaking into his home.

Grant wrote on X that he didn’t want to settle, saying, “I would love to see all the allegations that they deny tested in court. But the rules around civil litigation mean that if I proceed to trial and the court awards me damages that are even a penny less than the settlement offer, I would have to pay the legal costs of both sides. My lawyers tell me that that is exactly what would most likely happen here. Rupert Murdoch’s lawyers are very expensive. So even if every allegation is proven in court, I would still be liable for something approaching £10 million in costs. I’m afraid I am shying at that fence.”

The Associated Press reported , “Grant is among several celebrities, including actress Sienna Miller, soccer star Paul Gascoigne and Spice Girl Melanie Chisholm who have settled claims against the publisher.”

Media tidbits

• My Poynter colleague Kelly McBride, who is NPR’s public editor, with “The relentless focus on Gaza.”
• The Associated Press’ David Bauder with “Trump trial: Why can’t Americans see or hear what is going on inside the courtroom?”
• The New York Times’ Steven Kurutz with “From a Tiny Island in Maine, He Serves Up Fresh Media Gossip.”
• Los Angeles Times business columnist Michael Hiltzik with “With his Truth Social stock, Trump may be laughing all the way to the bank — but his investors have reason to weep.”
• Bloomberg’s Jamie Tarabay with “A Mansion, Two Dogs and a Wall: Inside The Conflict Between a Utah Billionaire And His Neighbors.”
• Los Angeles Times columnist Gustavo Arellano with “L.A.’s ultimate heartbreak industry isn’t Hollywood. It’s local journalism.”
• In an op-ed for the San Francisco Chronicle, Matt Pearce with “A new bill could help save California journalism. Google wants it dead.”
• Noah Eagle, one of the bright young sports broadcasters in the business, has been tapped by NBC to be the play-by-play voice for Team USA men’s and women’s basketball games, as well as the medal round, at this summer’s Paris Olympics. Eagle, 26, is the son of Ian Eagle, a prolific announcer who calls NFL, NBA and college basketball for CBS and Turner Sports. Ian Eagle recently called the men’s Final Four. Noah is already an announcing veteran with his most high-profile work being the play-by-play announcer on NBC’s Big Ten college football broadcasts.
• Some of ESPN’s very best — Don Van Natta Jr., Seth Wickersham and Jeremy Fowler — with “’Voted off the island’: Inside Bill Belichick’s failed job hunt.”

More resources for journalists

• Webinar today: Covering transgender issues with authority and accuracy .
• Applications for Poynter Producer Project close tomorrow!
• Editorial Integrity and Leadership Initiative is a fellowship for public media journalists. Applications due April 22.
• Delve more deeply into your editing skills with Poynter ACES Intermediate Certificate in Editing .

Have feedback or a tip? Email Poynter senior media writer Tom Jones at [email protected] .

The Poynter Report is our daily media newsletter. To have it delivered to your inbox Monday-Friday, sign up here .

How a longtime film critic’s death represents the great dissolve of local film criticism

Bryan VanCampen of The Ithaca Times was an institution in the central New York college town of 32,000. He might have been the last of his kind.

No, Stormy Daniels didn’t ‘exonerate’ Donald Trump

The adult film actor denied she had an affair with Trump in a 2018 statement. She has since recanted that statement.

Opinion | NPR suspends an editor for his essay blasting … NPR

The firestorm caused by Uri Berliner’s critical essay in The Free Press continues to rage

Taylor Swift has not endorsed Joe Biden for president

As of mid-April 2024, Swift has not issued a public endorsement for the 2024 presidential election, despite social posts claiming otherwise

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Bespoke wealth management solutions: Here's what is driving the surge

• Byline: Ashish Rukhaiyar
• Producer: Arnav Das Sharma

As India sees a rise in the number of billionaires, the demand for bespoke wealth management solutions for high net-worth individuals—in the form of portfolio management services—has also gone up

Did you know   that the billionaire capital of Asia also minted the highest number of new billionaires last year? And, according to the 2024 Hurun Global Rich List, it’s not Beijing, Shanghai, Dubai, or Hong Kong. It is, in fact, Mumbai. For the first time in recent history, Mumbai has pipped Beijing to the top spot—India’s financial capital is home to 92 billionaires with 27 new entrants, higher than Beijing’s 91 billionaires, with six new additions. More importantly, India added a record 84 billionaires—in sharp contrast to China, which saw the number dip by 155—in a single year. Only the US, with 109 new additions, minted more billionaires last year.

With the number of wealthy individuals rising in the country, it comes as no surprise that the demand for professional money managers for the well-heeled has also gone up. While mutual funds (MFs) have become the go-to investment product for retail investors, for wealthy investors—known as high net-worth individuals or HNIs in market parlance—have found their panacea in portfolio management services or PMS.

Simply put, PMS refers to a fund management firm where a fund manager manages a portfolio of stocks—typically between 20 and 30—as part of a scheme that could be designed around themes like value investing, growth stocks or entrepreneurship, among other things. The minimum ticket size for a PMS scheme is Rs 50 lakh.

The growing demand for PMS is corroborated by the fact that the total assets under management (AUM) of the sector has more than doubled in the last five years, growing to Rs 32.22 lakh crore as of January 2024 from Rs 15.40 lakh crore in January 2019. In fact, the number of portfolio managers has more than doubled in the last seven to eight years to 400-plus.

“ The industry has demonstrated its capabilities with continuous alpha generation by well reputed and professional managers ” SUNIL ROHOKALE MD & CEO ASK Investment Managers

“The portfolio management industry has demonstrated its capabilities with continuous alpha generation by well reputed and professional managers, thus increasing the inflows and AUM in the industry. This coupled with new entrants has led to strong growth,” says Sunil Rohokale, MD & CEO of ASK Asset & Wealth Management Group, one of the largest PMS firms of the country.

Further, data from the Association of Portfolio Managers of India (APMI), the industry body of PMS firms, shows that of the more than 400 Securities and Exchange Board of India (Sebi)-registered entities offering PMS services in India, around 20 have an AUM in excess of Rs 10,000 crore each. Another 60-odd firms are each managing AUM between Rs 1,000 crore and Rs 10,000 crore.

All of this has been possible because of regulatory changes that have enhanced the level of disclosures and transparency in the PMS arena, once known to be fraught with opaque fees and performance metrics. In 2020, markets regulator Sebi amended the PMS regulations that were first formulated in 1994. The regulator increased the minimum investment ticket size from the then existing Rs 25 lakh to Rs 50 lakh—clearly signalling to the industry that PMS had to be sold only to HNIs and not retail investors, who have the option of MFs.

“While increasing the ticket size would have initially reduced the addressable market size, the uniformity in performance disclosure standards and the setting up of APMI, a self-regulatory association of PMS players, has helped in enhancing the confidence of investors,” says Hiren Ved, Director & CIO of Alchemy Capital Management, a PMS provider with AUM in excess of Rs 7,000 crore.

Thereafter, disclosure norms were enhanced, performance measurement was standardised and loopholes or grey areas that encouraged mis-selling were plugged. For instance, upfront commissions—which typically incentivise distributors to push their clients for regular but unnecessary churning of schemes—were banned, akin to what was mandated for MFs earlier.

“Regulations right from operational aspects such as POA (power of attorney), pool account, minimisation of in-house brokerage related conflict of interests have all gone to institutionalise the business and have provided an added layer of safety to client assets,” says Nitin Raheja, Executive Director, Julius Baer India, a wealth management firm catering to HNIs and ultra-HNIs.

The choice between PMS and MFs assumes significance in the realm of wealth management. While both .offer growth opportunities, their approaches diverge. PMS, tailored for HNIs and ultra-HNIs, provide a bespoke investment experience with higher customisation and flexibility, while MFs adopt a standardised approach managed by fund managers, catering to a broader audience with pre-determined objectives. Also, PMS portfolios, characterised by concentrated holdings, offer direct ownership for clients over their stocks, while MFs offer investors units of schemes that have invested in the stocks.

Akhil Chaturvedi, Chief Business Officer of Motilal Oswal Mutual Fund, believes that PMS offers multiple opportunities to investors to participate in the Indian stock markets for long-term wealth creation.

“With the rise of HNIs/UHNIs (ultra-HNIs) over the last 10 years, there has been growing interest in investing in boutique portfolios through the PMS platform,” says Chaturvedi, whose firm is among the largest players in the space.

“ The relatively smaller fund sizes enable flexibility, nimbleness, and an ability to provide concentrated portfolios to provide alpha ” NITIN RAHEJA Executive Director Julius Baer India

But how does one pick the right PMS? Selecting the right one involves assessing the firm’s experience, investment philosophy and performance history, as well as reviewing the fee structure. A good PMS helps investors diversify portfolios, manage risks, navigate complex investment landscapes, and avoid erratic investing decisions. Choosing a reputable PMS can bring professionalism to investments and assist in achieving financial goals. So, it is important that potential investors make time and effort to choose the right service. This assumes significance as PMS is all about the perennial search for alpha—or return over and above that of the underlying benchmark—and this throws up interesting statistics.

Data shows that not a single portfolio manager catering to affluent investors witnessed a fall in their portfolios in the last 12 months till February 2024. And, the Top 5 alpha generators recorded gains of more than 100% even as fund managers believe that the robust Indian economy and the government’s thrust on capital expenditure, which is providing buoyancy to the equity markets, will continue to present similar opportunities in the long run.

Going ahead, the scope of growth for PMS as an industry is huge as India is expected to see a strong uptrend in the number of wealthy individuals, who typically look at bespoke investment solutions that a mutual fund cannot offer. PMS is the best option for such HNIs and ultra-HNIs.

“I see tremendous growth for the PMS industry. The number of HNIs is growing in India, and they need sophisticated and boutique managers to manage their wealth. Digital distribution, direct pricing, greater transparency, and innovative strategies are expected to drive AUM as well as client growth in excess of 20% annually in my view,” says Ved of Alchemy Capital Management.

This desire for a differentiated strategy has led to the emergence of boutique PMS firms—mostly launched by well-known and marquee fund managers who chose to embark on their own entrepreneurial journey after having worked under the shadow of a big firm for many years.

Chaturvedi of Motilal Oswal Mutual Fund believes that competition is always healthy and leads the industry to grow, while investors are offered choices, and fund managers will be more competitive to deliver consistent returns.

In the pages that follow, find out all about PMS schemes and the strategies that worked best.

UI Developer : Pankaj Negi Creative Producer : Raj Verma

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Music Catalog Giant Hipgnosis Agrees to $1.4 Billion Sale to Concord

Hipgnosis, which owns the rights to songs by Justin Bieber and Neil Young, helped kick-start a rush on catalog sales. But its future has been in doubt.

By Ben Sisario

Hipgnosis Songs Fund, the British company that helped kick-start the music industry’s rush for catalog deals — acquiring tens of thousands of songs by Justin Bieber, Neil Young, Shakira and others — but that has seen its share price plummet has reached a tentative deal to sell itself to Concord, a major independent music company, for $1.4 billion.

Hipgnosis, which trades on the London Stock Exchange, said on Thursday that its board had given unanimous approval. But the deal still faces what could be a significant hurdle in the form of a contractual option held by an affiliated company to buy the catalog at a set price.

Robert Naylor, the chairman of Hipgnosis, said in a statement: “The acquisition represents an attractive opportunity for our shareholders to immediately realize their holding at a premium, mitigating the risks we see ahead to achieving a material improvement in the share price.”

Bob Valentine, the chief executive of Concord, which has a portfolio of labels like Stax and Craft, and large holdings in music publishing, added: “We believe we can integrate Hipgnosis’ catalogs into our wider portfolio of 1.2 million songs in a way that will deliver benefits for composers, performers and all our stakeholders.”

Concord’s cash offer, of $1.16 per share, represents a 32 percent premium over Hipgnosis’ last closing share price, though it is still down almost 28 percent from the stock’s peak in November 2021.

The Concord acquisition, if it goes through, would end one of the most tumultuous stories in the recent history of the music business. Hipgnosis, founded by Merck Mercuriadis , a longtime music executive who once managed superstar acts like Beyoncé, Guns N’ Roses and Elton John, went public in 2018, with a splashy pitch to investors — and artists — that the royalties from the copyrights of popular songs could be “ more valuable than gold or oil. ”

The company spent about $2.2 billion on catalog acquisitions, with top artists like Bieber receiving up to $200 million for rights to their songs. As recently as September, the value of the Hipgnosis catalog was estimated at $2.6 billion by an independent financial firm.

In the process, Mercuriadis became something of a celebrity on the business side of music. Always appearing in a black Prada jacket, he presented himself as a sympathetic advocate for artists and a vociferous critic of the major music conglomerates. Mercuriadis also spoke of using Hipgnosis’ leverage in the marketplace to push for better financial deals for songwriters overall.

“People look at songs as being inanimate objects; I don’t,” he told The New York Times in an interview in 2020. “I think that they’re the great energy that makes the world go ’round, and I think that they deserve to be managed with the same level of responsibility that human beings do.”

In the company’s complicated structure, Hipgnosis Songs Fund, the listed entity, is an “investment trust” that owns the song rights, while a separate company, Hipgnosis Song Management — owned by Mercuriadis and the giant investment firm Blackstone — is its “investment adviser,” doing much of the work of acquiring those assets.

Over the last couple of years, as interest rates rose, the company’s share price plunged. In October, after the company suspended its dividend, shareholders voted against maintaining the company’s structure as an investment trust, which set in motion a strategic review and an evaluation of its assets by a new financial adviser.

That evaluation, announced in March, reduced the value of Hipgnosis’ assets by 26 percent, to just under $2 billion, and offered a harsh review of its business practices. Hipgnosis Song Management, according to the review, had overpaid for the majority of its catalog and overstated the fund’s revenue and earnings; and Hipgnosis Songs Fund had overstated the ownership stakes that it had in many songs.

In announcing its agreement with Concord, Hipgnosis said it would “encourage” the investment adviser to terminate its so-called call option, which gives it the right to match any third-party offer. Hipgnosis Song Management did not immediately respond to request for comment.

Ben Sisario covers the music industry. He has been writing for The Times since 1998. More about Ben Sisario

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