30 Nov 2022

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Business Concepts: The Importance and Relevance of Leadership

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Academic level: University

Paper type: Essay (Any Type)

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Generally speaking, the most relevant course that I have taken in my program is business. Business is very interesting to study because it contains a number of concepts that can benefit an individual. For this reason, I have learned a variety of concepts that will benefit me in the future. First, the leadership concept, more importantly, leadership management is vital in improving the capacity of organizations and the employees within them to better attain their purpose. Good leadership management is effective I enhancing the productivity of an organization (Bolman & Deal, 2017). Further, employees are motivated to work and thus produce more if there is good leadership management. 

Second, the concept of focusing on customers is essential. Ideally, when an organization is customer-focused, all business activities are informed by the needs of customers thus improving customer experience. At the same time, a customer-focus organization has a competitive advantage in the business arena. This is because they align their systems, strategies, and individuals to deliver on the needs of customers; henceforth improving the effectiveness of service and marketing activities. 

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Third, decision-making is a crucial component of the success of a business. Notably, decisions based on knowledge and rational reasoning can result in the long-term success of an organization. On the other hand, decisions made from incomplete information, irrationality, emotionalism, and flawed logic can put a business out of market over time (Lunenberg, 2011). It is vital to note that effective decision-making has a significant impact on the flexibility of an organization to meet market demands. 

Ideally, the business concepts mentioned above can help with project management in the future. They can enable project managers to ensure the quality of project outcomes. First, learning about decision-making can aid me to make timely, informed, as well as effective decisions. Second, having gained knowledge of leadership can help me become a competent project manager. I will be in a better position to get the task accomplished by team members effectively and efficiently. 

In conclusion, studying business has helped me gain knowledge on many business concepts that can be beneficial to project management. Therefore, understanding the various business concepts is of essence in the future of project management. 

References 

Bolman, L. G., & Deal, T. E. (2017). Reframing organizations: Artistry, choice, and leadership . Hoboken, NJ: Jossey-Bass, a John Wiley and Sons, imprint. 

Lunenberg, F. C. (2011). Decision Making in Organizations. International Journal of Management, Business, and Administration, 646-662. 

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StudyBounty. (2023, September 16). Business Concepts: The Importance and Relevance of Leadership .
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