Financial Management
Financial management is one of the vital skills that anyone who wants to start or run a business should possess. It is a type of management that involves planning, directing, delegating, and controlling the financial operations of an organization. It also deals with the application of financial principles in fiscal management and the firm’s assets. Financial managers strive to create secure investment opportunities, maintain efficient and effective use of funds, and making sure that stakeholders get a positive return on investment.
Customer Relationship Management (CRM)
Customer relationship management is the strategies and practices that firms use to evaluate and study their interaction with their customers. Companies can only develop a solid relationship with their customers if they learn more about their needs and requirements. CRM is a strategy employed by organizations to help them deal with customers effectively and efficiently. However, it is the technology that makes CRM successful.
Marketing Research
Marketing research is the analysis and evaluation of the viability of a new product before it is introduced in a market. This research is often carried out on customers and prospects. A great marketing research strategy helps an organization to know and understand its target market, collect useful feedback from clients, and make the right decisions. Some agencies specialize in marketing research. As a result, an organization can choose to outsource this service or conduct it directly. Marketing research is often done through surveys, interviews, sampling, etc.
Operations Management
Operations management is the supervision of all the operations of the business including production, service delivery, and manufacturing. It involves planning and making sure that the firm successfully and efficiently converts raw materials into useful outputs. Operations management covers procurement and other processes that improve the sustainability of the company.