Importance of Academic and Professional Skills for Business and Management

PERSONAL AND
ACADEMIC
DEVELOPMENT
PORTFOLIO

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Importance of academic and professional skills for your career in business and management. .3
Reflection on skills that you acquired from my module..............................................................5
Develop action plan.....................................................................................................................7
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Academic and professional skills are important at the workplace in order to deliver the
right organizational objectives. Academic and professional skills are helps the business in order
to bring out the best from the employees it have and coordinate these efforts in order to perform
the business function in accordance to the pre-determined manner. Thus, an individual need to
develop these the professional academic skills and knowledge in order to complete the assigned
business objectives in the most productive manners. In order to attain employments on the any
organisation as a future career goals, an individual must possess list of these skills achieve the
future career goals. Similarly, this report reflects the topics covered in the module, that involves
the importance of the academic and professional skills in business and management, reflection of
the that you developed while the module and the cation plan (Ahmed and Ward, 2016).
MAIN BODY
Importance of academic and professional skills for your career in business and management
Academic and professional skills are important in a workplace in order to conduct the
proper functioning of the organisation. employees in workplace to formulate, execute and
implement the planning and interpretation of the organizational objectives. The importance of
academic and professional skills in business management is determined below:
Understanding economics
Understanding economics including the market demand, the assets and liabilities of the business
and others in order to build proper decision from the organisation is important. The pricing
strategies, market demand analysis and others helps the management to implement proper
strategies that is required by developing the business and other business functions (Bhargava and
et.al.,2015).
Data analytics skills
In order to determining the market trend analysis, reasoning that develop the basis for developing
business objective and find the relevant solution of different business problems and decision
making for complex situation. Data analytic skills gives the range information about the business
profit margin and growth figures and determines the stability of the business in the marketplace.

Financial accounting skills
Financial skills are those technical skills which is required by the businesses in order to finance
the business functions and evaluate the fund required for each business functions. As finance is
the most important which involves identifying and allocating them to the business activities in
order to carry out the business objectives. Thus, an individual should ascertain basis finance
skills be it any department are business unit in order to improve the business analytical and
evaluation skills.
Business management skills
Business management skills are crucial for developing and management in the business function
the internal management of the organisation. These involves formulation of policies, strategies
for business growth and managing different business functions in order to accomplish the pre-
determined organizational objectives. These involves determining the favorable policies for
internal management and performance appraisals system in order to accomplish the productivity
at work (Brody and Hadar, 2015).
Leadership skills
Leadership skills are important in order to direct the employee efforts in a particular direction
towards accomplishment of organisation objectives. Leadership skills are important in order to
guide the internal workforce towards the mission and vision of the organisation. Wherein, the
effective leadership skills help in bringing the efficiency and deliver right business objectives.
Effective communication
It is no brainer that communication is required at the workplace but the how effectively one
should communicate in the organisation is important. Employer in the workplace must ensure
both formal and informal communication on the workplace in order to build employee
relationship and engagement towards the work they possess and develop smooth and transparent
flow of communication so that employees are able to rightly understand organizational
objectives (Clarke and Boud, 2018).
Emotional intelligence