Mobile phones are expanding every year. Not only are more and more people getting connecting through mobile networks, but mobile devices are becoming more powerful. New apps allow for integration into every facet of life. This has hardly gone unnoticed in the business world. Many people with business degrees are becoming specialized in mobile marketing. Business administration is always becoming more complicated, but top business schools are keeping up to provide students with the knowledge they need to be competitive in today’s market.
Over 4 billion people worldwide now use mobile phones. Of those, 3.05 billion are sms-enabled and 1.08 billion are smartphones. It is predicted that by 2014, the number of mobile Internet users will top the number of desktop Internet users. In 2009, mobile Internet users numbered approximately 700 million and desktop users numbered about 1.3 billion. By 2015, desktop Internet users are estimated to grow to 1.7 billion while mobile Internet users will be over 1.9 billion.
Because mobile phones are so versatile, their use has drastically changed over the years. Nearly half of all local searches are now performed on mobile devices. Mobile tags are being scanned by mobile devices to provide users with much more information than can be obtained from traditional bar codes. Mobile tags can also give users instant coupons. Over 86 percent of mobile Internet users operate their devices while they are watching TV.
Overall mobile device use is always growing. It is estimated that the average American spends 2.7 hours every day socializing through their mobile devices. Of people who have mobile Internet, 91 percent use it for socializing while only 79 percent of desktop Internet users socialize online. Facebook is the top social network for mobile devices. Over one-third of all Facebook users access the site through their mobile phones.
What Business Administrators and Managers Should Learn
As smart as a given person and their coworkers might be, there is simply no way to make people infallible. The keys to success in dealing with failure, according to professors at business administration schools everywhere, lie in understanding the mistake itself and how it might be fixed.
From the first few moments after realization that a mistake has occurred, it is vital to avoid the so-called “blame game” at all costs. Those with a business degree know that one of the most inefficient ways to handle mistakes is to focus on who is at fault as opposed to the real cause of the mistake, and how it might be averted in the future. In fact, many business administration professionals put failure in a positive light, seeing it as an opportunity for employees to grow and evolve.
Also important in the process of analyzing and fixing mistakes is the responsiveness of management in a given business administration setting. It is up to both the individual employee who garnered the skills to mitigate potential problems through experience or schooling (particularly a business degree), and the manager, who must be reachable and proactive in identifying and solving potential problems.
In managing mistakes, it is helpful to remember that failures of almost all magnitudes – from a small contractual breach one might read about in a case study at business administration school to ones that could be potentially life threatening for employees – are solved through similar processes. By handling the small mistakes in a manner that encourages communication and improvement, one is better equipped to mitigate the failures that are larger in size and scope.
What Business Administrators and Managers Can Learn
Whether you want to start your own business or help grow an established one, you will need to become skilled in marketing techniques and sales. Marketing may sound boring to those who are not yet initiated into the business world, but it is actually one of the most important and exciting aspects of a business. Successful companies invest greatly in their marketing department. Most marketing professionals have a degree in business administration from an accredited business college. Those that don’t, have another type of business degree or a degree in marketing.
One man who used his business degree to get ahead in the world of marketing is Tim Cohn. Tim Cohn has been a professional marketing consultant since 1989. He has helped over 100 companies develop marketing strategies and more fully realize their business’ potential. Since 2007, Mr. Cohn has focused on Internet marketing. He is a Google Certified Partner who has generated almost 1 billion advertisement impressions that have drawn in 5 million visitors and 100,000 sales leads through Google alone.
Mr. Cohn now writes for his own blog and for national business magazines. He has written more than 1,500 articles for his blog. He has also been the subject of interviews for several important publications, including Forbes Magazine and Inc. Magazine. Cohn has a book that is widely distributed entitled For Sale By Google.
Cohn attributes much of his success in business to Peter Drucker, a prominent writer, business consultant and teacher. Drucker put forth the idea that all business owners and marketing professionals need to ask themselves 5 important questions. He expanded on all of the questions in his book The Five Most Important Questions You Will Ever Ask About Your Organization. Those 5 questions are as follows:
1. What is our business’ mission?
A company mission guides every aspect of a business and is important to every department, be it sales, marketing or executive administration.
2. Who is our customer?
Knowing your customer demographic allows you to bring them the specific products and services they require. It also allows you to market directly to them instead of to people who are never going to become customers.
3. What does the customer value?
This is an extension of question 2. Knowing what your customers value is part of knowing your customer.
4. What are our results?
You must be able to quantify the results of your efforts in order to improve on them.
5. What is our plan?
A mission is not enough. A company must have a plan on how they are going to succeed in their mission.
Although it may not seem like professional football has anything in common with the world of business administration, there are certain similarities that business leaders can look at in order to improve on the functioning of the business world. It doesn’t take a business degree to apply much of the common sense advice developed on the gridiron.
The connection between professional football and business administration and management can be seen in the relationship between businesses and investors. Although there are plenty of real statistics available for businesses based on output and profitability, investors often make their decisions on whether to fund a company based on where they see the company years down the road. This, in turn, drives stock prices. Similarly, while professional football players play real games with measurable outputs (i.e., goals), many people bet on professional football games based on their expectation of whether one team or another will beat the “spread,” the expected point difference between two teams.
What does this mean for business professionals and students of a business administration school? One point is that while professional football strictly divorces playing sports from betting on sports, there is no such equivalent in the business world. The reason for this separation in the sports world is that conflating betting and playing sports creates an incentive for players to play games only to beat the “spread,” or even to throw games. Similarly, stock options given to CEOs mean that there may be an incentive to keep the stock price artificially inflated, regardless of the effect on the overall health of the company.
What Business Administrators and Managers Can Learn
It is virtually impossible to get by in today’s modern world without taking out credit. Unfortunately, many people don’t fully understand how credit and interest rates work. Therefore, the creditors end up getting much more out of them than they should be paying. You don’t have to have a degree in business administration to understand interest rates, but it sure helps. Individuals who get a degree in business administration from an accredited college or school will not only be able to make a decent living from the knowledge they gained, but they will also be able to make their money go farther than those who do not understand how business and interest rates work.
One basic skill that can be learned while earning a business degree is how to calculate interest rates. If you know the principal amount, which is the amount borrowed, the interest rate and the time known, calculating the amount of interest you will end up paying is simple. All that has to be done is multiply the principal (P) by the annual interest rate (r), and multiply the product by the time in years (t). The equation for this is I=prt.
It is also helpful to be able to calculate interest on investments. This is a form of interest that is paid to you. The amount of interest you will earn can be calculated through the same formula used to calculate the total amount of interest you pay on money you borrow, I=prt.
Sometimes a monkey wrench gets thrown into the calculations when the numbers provided do not meet specifications. For instance, if the time is not given in years, it becomes necessary to enter a term for the time in years. For example, if the time is 300 days, you can enter the time as 300/365 of a year. If the time is 5 months, it can be entered as 5/12 year.
Using permutations of this formula will allow you to calculate any of the terms. If you want to know the principal but have only the interest, rate and time, the formula P = I/rt can be used. This formula is useful for being able to tell how much money you would have to invest to earn a specific amount in return.
Finally, it is also helpful to be able to determine the interest rate when you know the amount of interest, the time and the principal. The formula for this is r = I/pt.
Joe Knight, co-owner of the Business Literacy Institute and coauthor of the Financial Intelligence book series, shares his unique approach on teaching finance and shares valuable information for students pursuing a Business Administration and Management degree in this brief video course. His particular approach focuses on how to get information to the financial people who need to know how the numbers affect them without focusing on traditional “credit/debit” scenarios but rather in real world terms.
Business Management Approach
His comprehensive and digestible approach stems from his direct experience working with actual employees and manufacturing managers who might not possess the interest in the complete financial analysis but who receive a direct benefit in understanding concepts such as gross profit per hour.
Joe also offers an analysis on the many moving parts in a business and how cash and credit markets in current economic conditions continue to affect small business owners. Joe Knight’s unique perspective on current and future trends is especially beneficial for individuals studying business administration or attending a business administration college. Here individuals will also learn how financial transparency has become an important feature in the business and finance world, not only from an investor standpoint but from an ethical standpoint as well.
Social media is taking the business world by storm. While this is most prominently seen in the real estate trade, those in business administration have witnessed the same. Social media is now being taught to those seeking a business degree from a business administration college. The colleges who are not teaching the impact of social media will leave their students unprepared for what awaits them in the real world.
In real estate, 94 percent of home buyers begin their search online and 61 percent simply use Google. Thirty-two percent of new home buyers purchase a home they found during an online search. Real estate searchers not using Google or other standard search engines use websites with custom real estate listings. The most popular of these websites are Trulia and Zillow.
Real estate agents are just now seeing the importance of social networking in their business. Some have yet to see the importance of the Internet as a whole. Only 54 percent of agents see the Internet as very important in their business. Twenty-one percent see blogs as important to their business. Social networking sites have just overtaken blogs with 24 percent of agents seeing them as very important.
While real estate blogs were once the rage, today, 84 percent of real estate agents have a Facebook presence. This is up from 33 percent in 2008. Many real estate agents use only a free online website, at 20 percent. Many more find a quality paid website to be more helpful. Thirty-three percent of agents spend between $101 and $500 on their website, and 1 percent spends over $5,000.
Real estate agents invest very little time in their websites. Over 50 percent spend less than five hours per month updating their site. Agents who claim an excellent return on investment (ROI) for their websites is reported to be six percent.
Social networking has already been adopted by the business world and its administrators, but new apps are constantly evolving just how it is used. One new way to use social media is with check-in apps like Foursquare. Early adopters report enjoying using check-in apps, but at the Social-Loco Conference, new research was released showing that while these apps are highly hyped and widely talked about, not many people are using them as extensively as they claim and not as many people are using them as is suggested by the media.
The reality of how new social media applications are used by consumers and how they can be used by businesses is of great importance to those in business administration. A good business administration college teaches all of the latest media and research to its students. Graduates with a business administration degree from a top college will be well-prepared for the real world.
Early adopters mostly use the following check-in or social location apps:
• Facebook Places – 90 percent
• Twitter – 31 percent
• Groupon – 30 percent
• Foursquare – 22 percent
• Living Social – 22 percent
• Yelp Check-in – 10 percent
Early adopters report that they use these apps mostly to get discounts and coupons, at 54 percent. Thirty-three percent use them to meet friends, and nearly as many learn about new locations and promote locations with the apps.
As the economy remains stagnant, more people are choosing to return to school. Many nontraditional adult students returning to college are under the false impression that all scholarships are for younger students entering school for the first time. This is simply not true. Many sources exist that offer scholarship aid for those students over the age of 25. Scholarships tend to be competitive. There are many things an applicant can do to increase his or her chances of being selected to receive these scholarships.
First, the applicant should be prepared to apply early for scholarship offers. The providers tend to have strict deadlines and the offers open/close far in advance of their intended semesters. Starting far in advance also gives plenty of opportunity to take one’s time in making sure everything is complete, neat and free of errors. It also offers time to take care of any issues that may arise, such as lost documentation or the need for clarification.
When seeking a scholarship, an applicant must make sure that he or she meets the requirements. Some awards are very specific, and missing any of the parameters will knock an applicant out of consideration. Be sure to include all required samples, documents and other requested items. Forgetting anything could lead to delays or outright disqualification.
Scholarship applicants should be prepared to market themselves to the scholarship provider as a positive addition to the educational institution or profession. Excellent grades, high entry test scores and professional achievements are all important factors. Adults should have some sort of leadership or community service experience to showcase as well. This may be a good time to create a portfolio of projects for one’s profession and list any awards received. If there is anything that appears detrimental, such as a bad grade, be sure to offer an explanation. Leave nothing to the imagination of the application’s reviewer.
Part of marketing one’s self is preparation of an outstanding essay. The essay portion of the application is the equivalent of a face-to-face interview and should be taken just as seriously. This offers the chance to really explain one’s goals and why he or she is the best choice for the educational award. Keep in mind that the awarding institution wants to be certain it is making the best decision for giving away scarce resources.
It would be a good idea to seek the advice of people that have received scholarships. Better yet, applicants should use their network of mentors, past professors, supervisors and other professional acquaintances to guide them. Experience and another set of eyes goes a long way to polishing the application and revealing mistakes.
One of the newer tips to take to heart is checking personal Internet presence. Many people use social media sites such as Facebook and Twitter. Anyone that applies for scholarships should make sure that these sources of personal information show nothing detrimental. There have been cases in which decisions have been made or altered because of a person’s social information online.
This video interviewed two women, Maggie who was a grad of a vet technician school, and Ashley, a student at vet tech school. Both were excited about their work as a veterinary technician. In the interview, Maggie made a comment that many people say they want to become a veterinary technician because they love animals. While a love for animals is important, to do the job well Maggie stressed that you have to love people as well. In her daily work Maggie comes in contact with all different types of personalities, and she has had to learn how to interact with various types of people, as they are the ones who will be bringing their animals in and explaining what is wrong. Ashley rattled off several areas of study that she had completed in her training as a veterinary technician. Among the subjects she studied were animal care management, animal biology, clinical pathology, surgical nursing, veterinary office procedures, and animal diseases. Maggie added that the two-year program is a lot of work but that it is definitely worth it, and that you meet a lot of great people in the process. Ashley said that it is a very, very popular program.
While the interviews were playing the video showed several images of veterinary technicians in their jobs and in school. The video shows veterinary technicians in surgery, performing checkups on the animals, and holding the animals down to collect blood samples or administer intravenous medicine. The vet techs are also shown in the labs using microscopes, taking blood samples, examining eyes and using a stethoscope. In a classroom setting vet techs are seen working on an assignment and interacting in class.
Veterinary tech school usually lasts about two to three years. During that time the students learn in a classroom setting but perform many hours practicing what they have learned in a clinic setting, either as an employee or as a volunteer at the clinic. Upon completing their coursework, vet techs will take a certification exam. The requirements for vet techs will vary from state to state, as do what is covered on the certification.