Challenges and Importance of Skill Development in Business Management

This report discusses the challenges faced by individuals in learning business management, the importance of academic and professional skill development, personal SWOT analysis, and action plan to overcome weaknesses. It emphasizes the significance of effective time management, team coordination, communication, and adjustment in a new environment. It also highlights the importance of developing self-confidence, reducing stress, expanding knowledge base, and boosting confidence in professional skill development. The report concludes with the significance of personal SWOT analysis in identifying strengths and weaknesses and exploring new opportunities.

1

Contents
Introduction.................................................................................................................................................3
Main body...................................................................................................................................................3
Challenges in study of business management..........................................................................................3
Importance of effective skill development...............................................................................................4
Importance of effective professional skill development..........................................................................4
Personal SWOT analysis.........................................................................................................................5
Action plan to overcome weakness..........................................................................................................6
Conclusion...................................................................................................................................................7
REFERENCES............................................................................................................................................7

Introduction
Business management is that process in which controlling or managing the various
functions of the organization. It helps to achieve the different business purpose set by the top
executive authorities. Employees of an organization regularly perform a variety of the business
in a highly and organized way that helps them to run the company in an effective and efficient
manner (Håkansson and Snehota, 2017). This report addresses a wide rang of the challenges that
are faced by an individual in learning the business management. In this report it will include the
importance of educational ability and the professionalism in improving the health of an
individual by the personal SWOT analysis and their applications.
Main body
Challenges in study of business management
 Time management- It is one of the biggest challenges facing an individual while learning
business management. It’s very difficult to them manage all other tasks due to their busy
schedule of classes once and for all other works.
 Learn to manage a team- If somebody learn any professional work or the management
lessons are therefore very significant foe them to learn the group work. There are
different types of peoples in a group or team, so in the absence of proper team
coordination and the performance it is very difficult for the team to achieve the set goals.
 Balance life, work and the learning- It is very difficult for a trained person to do that
manage their studies through work and their personal health. Responsibilities of their
family members as well workload comes as a challenge to the student’s life. It has been
very difficult to manage everything (Meissner and Shmatko, 2019).
 Learn to communicate- The communication is an important challenge for an individual.
There are different types of peoples live in a society with different ideas, language,
behavior and attitude. It is very hard to them to meet new peoples and communicate with
them because of the communication gap. So it directly affects their success, which has a
bad impact on their profession.

 Adjust in new environment- Sometimes students have to go outside to study the business
management; there they have to adjust with new peoples in new environment. They enter
into a new world and meet new peoples. It may be a little bit difficult for them to adjust
into new surroundings (Tsyganov, 2019).
Importance of effective skill development
 Proper time management- Academic skills development benefits the individual to divide
their work by the number of hours. Effective reduction of the professional work and
management course not only improve concentration but also help the, to perform some
things in a very effective way.
 Develop self- confidence- Educational skills that help an individual to achieve their
goals. This not only improves a person’s self- confidence but also make them feel better
and confident. This builds confidence in them and makes them a more direct person.
 Reduce stress- Development of effective educational skills helps a person in removing
stress from their personal life. The development of these skills in a student or works helps
them to face the upcoming challenges.
 Lead to success- The individuals get small achievements in their study or professional
work with the help of effective academic skill development. These small achievements
help an individual to accomplish a higher position in their life (Brondoni, 2018).
 Reading skills- Academic skills development helps a student to make a good reader by
improving their reading skills. Because an individual has read a lots of figures and facts
from different links and sources. This helps them in developing their reading skills which
improves their understanding power and the capacity to learn.
Importance of effective professional skill development
 Provide networking opportunity- The development of the professional skills is helpful for
each employee in developing their network within the same industry. The ability of to
meet different types of peoples in the same filed makes an effective network. This
network helps them to manage the opportunity at the moment when they want to change
or move.
 Expanding the knowledge base- Developing the skills of practical professional is helpful
for an individual to expand their knowledge base. The general readings from various
sources explore additional opportunities for each person and strengthen their foundation.

 Boost the confidence- the development of these skills help an employees of a worker to
become more confident in their work performance and their personal life. Opportunities
of different types of the professional courses explore more areas for the continuous
reading and education which boost the confidence of an individual. It also improves the
ability to acquire new skills within employees (Raut and et. al., 2019).
 Increase retention- Developing professional skills in a person helps the organization to
increase the storage capacity. If an organization offers different types of opportunities to
the employee, then the workers feel that the organization want to keep them for longer
time. Thus, the professional development helps to the business in increasing their
staffing.
 Improved performance- Development of an individual’s skill set offer different types of
opportunities to them and they also get a lot of information. This helps a person to
generate new ideas and also improve the human productivity (Santoro and et. al., 2019).
Personal SWOT analysis
Personal SWOT analysis is very essential for an individual because it enhance personal
strength through victory by overcoming the weakness. This analysis also helps to generate
different types of opportunity and help an individual to reduce the impact of threats.
Strength Weakness
 I am very good in problem solving as I
focus on solution and bring out the best
solution to it. I have ability to solve
issues effectively and efficiently.
 I am very talented person with a good
time management expertise as I
priorities my work and achieve my
deadlines on time.
 Information and technology is very
difficult for me, because I am not able
to make efficient use of technology. It
makes my work delay and I suffer a lot
due to this.
 Decision making is very difficult for
me because I am unable to make
quickly which fix the issues. It is very
hard to me take an appropriate
decisions.
Opportunities Threat

 The best opportunity for me is to
become efficient in leading teams.
Team work is essential nowadays and
guiding and leading them can help me
to take competitive edge.
 Another opportunity for me can be to
become efficient in innovation and
creativity skills as nowadays,
uniqueness and innovation is key to
success
 Competition is my biggest threat as
there are many competitors in market
and this can hamper my growth and
success professionally.
 There are different types of
professions as well as management
studies have been present in the modern
era for the personal development. I
cannot apply these lessons because of
my financial situation that I have to pay
this time, so I cannot develop these sets
of new skills within me.
Action plan to overcome weakness.
Skills Level Strategies Judging criteria Time period
Decision making High I will take a lot
of decisions on
the daily basis
and also join an
online
communication
with the purpose
of improving my
decision making
skills. Thus, I
will resolve this
weakness.
This strategy
should be
measured on the
basis of the result
That I take on
regular basis.
6 month
Information
technology
High I will develop
this ability by
undergoing
diploma course
The result from
my diploma will
be judging
criteria as it will
6 month

so that I can
become
proficient in
making use of
the technology.
calculate my
success rate in
the development
of this skill.
Conclusion
From the above report it is concluded that to get a successful position in life, it is very
important to have the academic and professional skills in an individual. A student become more
confident and allows taking the responsibilities by the development of effective academic skills.
On the other hand, the productivity of an employee can be improved by the professional skill
development. It helps them to achieve their sets goals in an effective manner. The personal
SWOT analysis is very important for an individual to help in identifying their strength and
weakness. It helps them in exploring new opportunities by the impact of threat the help an
individual in becoming more successful.
REFERENCES
Brondoni, S.M., 2018. Competitive Business Management and Global Competition. An
Introduction. In Competitive Business Management (pp. 21-42). Routledge
Håkansson, H. and Snehota, I. eds., 2017. No business is an island: Making sense of the
interactive business world. Emerald Group Publishing.
Meissner, D. and Shmatko, N., 2019. Integrating professional and academic knowledge: the link
between researchers skills and innovation culture. The Journal of Technology
Transfer, 44(4), pp.1273-1289.
Raut, R.D., and et. al., 2019. Linking big data analytics and operational sustainability practices
for sustainable business management. Journal of cleaner production, 224, pp.10-24.
Santoro, G., and et. al., 2019. Big data for business management in the retail
industry. Management Decision.
Tsyganov, V., 2019, July. Tutoring mechanisms of business management. In 2019 IEEE 21st
Conference on Business Informatics (CBI) (Vol. 2, pp. 60-67). IEEE.