Individual Report: Study Skills for Higher Education in Business

This report evaluates the study skills taught in a business foundation course for higher education, focusing on how these skills help students study more effectively and achieve better results. The course covers fundamentals in accounting, decision-making, marketing, and finance, enabling students to tackle real-world business issues. Key skills discussed include understanding economic fluctuations, marketing, accounting, positioning, customer satisfaction, decision-making, and effective time management. The report concludes that the business foundation course is essential for developing an understanding of business culture, communication, international business practices, and strategies for success, ultimately improving public speaking, management abilities, and overall communication skills. Desklib provides access to similar solved assignments for students.

Study skill for higher
education assessment
Individual Report

Abstract
Business foundation course allows students to learn basic dynamics of business competitiveness
and core business skills in marketing, finance, accounting and operations skills which can be
used to commence or improve the business. The dominant explanation for this course allow the
students to have a close understanding external factors, decision making skills and customer
satisfaction skills. It analysed from the report that some skills are needed to drive real results in
the leading businesses to enact real change and bring solutions to the challenges faced by the
organisation. Findings from the report indicates that foundation year assists in improving the
public speaking skills, communication skills and management abilities.

Table of Contents
INTRODUCTION .........................................................................................................................2
Analysis and discussion of questions...............................................................................................2
1. Seven key skills which are commonly taught and important for students ........................2
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
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·INTRODUCTION
This report is going to evaluate the study skills for higher education which are taught in the
course of business foundation to help the students to study more effectively and achieving higher
results. In business foundation course, the student will get to learn about the fundamentals of the
accounting, decision making, marketing, finance strategy to tackle the real business issues. Its
main focus is to help students to master the skills which are required to analyse the financial
statements. It will further explain that how an individual can develop basic literacy in this
course by taking the specialization, one can start a business or continue with the education which
will help in learning the fundamentals of accounting and marketing.
·Analysis and discussion of questions
·1. Seven key skills which are commonly taught and important for students
As a learner, students play an active role in the education. Business foundation course allow the
students to acquire versatile skills which considers academic knowledge, ethical values, language
skills and many others. Education plays a vital role in the overall development of students
because it plays a prominent role in the modern era of the global world for the betterment of
society. Seven key skills are explained below-
·A close understanding of economic fluctuations and external factors- External factors plays
a major role in the growth of business which leads to increase the profitability for firms and also
encourages firm to take risks and innovate. Ultimately, growth creates wealth which improves
overall well-being so that people can earn higher profits and spend more money to improve their
standard of living. With the help of the business foundation course students learn to ascertain the
various types of external factors which affects the business operations, revenue and personnel
( Rossi and et.al.,2020).
·Marketing skill- Under this skill, the students get to learn about the key principles of market
strategies to interpret the drivers that influence customers. Marketing is a key component to
make any business successful. Many businesses ignore this point which is a huge mistake as
marketing boosts the sales and profitability of the business. For example, digital advertising,
customer knowledge, problem solving, critical analysis, writing skills, SEO (search engine
optimization) and many others (Freeman, Parmar and Martin, 2020).
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·Accounting skill- Students learn about the various technical skills which are required to
evaluate the accounting standards. With the help of this course, the student get to learn about the
three most common financial statements that are the income statement, balance sheet and cash
flow statement (Nghia, 2018). It allows to examine the complex financial data as well as also
facilitates the same to communicate their finding to the concerned clients in a concise manner.
This further helps in elevating numerical skills to demonstrate the ability to understand the
numerical information and formulate and implement meaningful decisions (Jia, 2020).
·Positioning skill- The business foundation course helps the students to learn about the product
or service in the market place because the positioning skill aids to know about the product in
relation to the similar product of the marketplace. The good positioning technique makes the
product different from other brands and it allows flexibility to the company in order to bring
changes in adverting, distribution and extensions. Positioning is a necessary tool for effective
planning of the business activities because it creates the image of the product in the mind of the
consumers and highlights the benefits of their product as compared to other products. Marketers
should keep an eye on the market's competition while focusing on the positioning elements
which will convey the message to customers why this company's product are better and preferred
over the competitor's product (Beynon-Davies, 2019).
·Customer Satisfaction skill- Business foundation helps the students to understand about the
customer satisfaction skill which is a tool to measure how happy or unhappy the customers are
with the company's product, services, and experiences. In a business when the customers are
satisfied that will help in retaining more customers then it will enhance the sales and
sustainability ( Fonstad, and Mocker, 2020). It can be improved by listening to customers and
figuring out what's working out for them or not, various surveys can also be conducted to
improve the areas towards the common goal of improving the customer's satisfaction (Boone,
Kurtz and Berston 2019).
·Decision making Skill- In every business, decision-making process helps in taking the
decisions by individuals to choose the best option to meet the requirements of the desired goals.
It is a set of steps taken by the management to determine the best and specific path for the
initiatives. This skill is learnt in this course which helps the students to lead effective decision-
making practice in a workplace. Decision making Skill allows to take a well-informed decision
which will assist in becoming more productive which will save the time and help in making
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more productive (Beynon-Davies, 2019).Various skills which are considered for proper
decision-making are problem solving, flexibility, analytical thinking, investigation, active
listening , ability to adjust and time management (Heald, 2018).
·Effective time management and self-motivation- This skill allows the students to know how
to tick task off from the to-do list and manage the time. Time management is essential at work
which enhance the performance of an individual to achieve desired goals with less efforts and
more effective plans. Proper time management and self-motivation can result into improvement
in professional reputation, better relationship at work and less stress. Proper time management
and self-motivation can benefit to reduce procrastination, achieve goals faster, boosts the
confidence, overcome negative influences, overcome petty indecisiveness, gives more strength
overall, breaks the tasks into smaller, more efficiency and productivity ( Mayer, 2018).
·CONCLUSION
On the basis of above report, it has been concluded that business foundation course is an
essential program designed for students Students can develop their understanding towards
business culture and practices to learn academic environment. The business foundation course
will include the different aspects such as communication, international business practise and
strategies for business success. The students are required to acquire set of skills if they want to
work in the field of business. Foundation year helps in improving the public speaking skills,
management abilities and communication skills. Such skills and courses further helps the
students to develop a new level of understanding of advanced topics. It explained different skills
which can be gained with the help of business foundation course such as marketing strategy,
accounting, financial accounting and customer satisfaction.
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·REFERENCES
Books and Journals
Beynon-Davies, P., 2019. Business information systems. Red Globe Press.
Boone, L.E., Kurtz, D.L. and Berston, S., 2019. Contemporary business. John Wiley & Sons.
Freeman, R.E., Parmar, B.L. and Martin, K., 2020. BUSINESS AND ETHICS (pp. 129-140).
Columbia University Press.
Heald, M., 2018. The social responsibilities of business: Company and community, 1900-1960.
Routledge.
Jia, L.V., 2020. Discussion on the Teaching Mode of Innovative Entrepreneurship Course Based
on OBE Concept——Take the Course of Business Foundation and Practice as an
Example. The Theory and Practice of Innovation and Enntrepreneurship, 3(1), p.115.
Mayer, C., 2018. Prosperity: Better business makes the greater good. Oxford University Press.
Beynon-Davies, P., 2019. Business information systems. Red Globe Press.
Fonstad, N. and Mocker, M., 2020. Munich Re: Building a foundation for innovating digital
offerings (No. 445). MIT Center for Information Systems Research.
Nghia, T.L.H., 2018. External stakeholders’ roles and factors influencing their participation in
developing generic skills for students in Vietnamese universities. Journal of Education
and Work, 31(1), pp.72-86.
Rossi, E., Bertassini, A.C., dos Santos Ferreira, C., do Amaral, W.A.N. and Ometto, A.R., 2020.
Circular economy indicators for organizations considering sustainability and business
models: Plastic, textile and electro-electronic cases. Journal of Cleaner
Production, 247, p.119137.
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