Search Results for: job opportunities

Looking for Better Job Opportunities: What Should You Consider?

Last Updated on October 29, 2021 By Ayesha Saeed Leave a Comment

There are millions of professional individuals around the world that are always actively working hard to provide necessities for their families. A good percentage of the professional market has a stable working job to earn a steady income to provide for their needs and wants.

However, the past year has caused many disruptions to the job market. The recent COVID-19 pandemic has caused a myriad of changes to the way that we live. This has affected how we handle finances, how we socialize with others, and most importantly, how we work every day.

While many businesses can transition to digital platforms, some companies don’t have the luxury of migrating to other platforms. In many cases, these are traditional business models where employees need to be present to perform tasks. Given the nature of the pandemic, working in crowded areas can pose health risks for many employees.

This has led to the plummet of demand for many essential businesses during the beginning of the pandemic. That said, organizations are forced to cut down their workforce to maintain business continuity.

But for many recently furloughed employees, having a stable job is a crucial aspect in paying for necessities. The good news here is that there are many opportunities for many workers, even during tumultuous times.

So what are some ways of earning more for you and your family? What can you do that can help steadily increase your financial power? Here are some important things that you need to consider.

Looking for Work Overseas

First and foremost, one of the most crucial ways of getting a better opportunity for earning is by looking for better opportunities outside your country. Even before the pandemic, many prospective employees are already looking for work in other countries. This is especially true for many workers that are working low-paying jobs in 3rd world countries.

However, working overseas has become tricky for many individuals in the past few years. The COVID-19 crisis has caused many safety concerns. Restrictions have made it harder for many would-be overseas workers to travel to other countries for work. But many aspiring overseas workers also need to take into account precautions when applying for visas or passports.

Fortunately, the recent rollout of COVID-19 vaccines has caused many countries to reopen international flights and travel. Do you want to get your necessary documents and passports for employment or travel? Well, you won’t have to look far since DFA passport delivery services are a great way of procuring your documents without placing yourself in harm’s way.

Remote Work Is Taking Off

Probably one of the most major changes since the pandemic’s beginning comes in the form of remote work. Although some businesses rely on workers coming to the workplace, many industries also won’t necessarily need their workers to come to the workplace. Since last year, many companies have been transitioning to remote work since this can streamline business processes while also keeping everyone safe.

But what makes remote work so popular? Most would say that it can help give people a much-needed work-life balance. Recent statistics have shown that half of the workforce that is currently doing remote work would rather stay in a work-from-home setup than have to travel and operate at work every day.

Setting Up Your Own Business

Last but not least, one of the best ways of increasing your chances of getting opportunities while also earning a large sum of funds is by setting up your own business. What makes many entrepreneurs successful? Setting up your passive income is an excellent way of having more than one stream of income.

But before you set up your own business, you need to do some research on the ebb and flow of the market. The recent public health crisis has made many industries unpredictable than usual. But even though the market might seem tumultuous, you still see some pattern in the chaos.

When you’re looking for better opportunities for your life and career, you need to start thinking outside the box. Although it might seem like the opportunities in your area are limited, there are always ways to find a worthwhile option. It’s essential to keep in mind that the market is constantly changing. What might be in high demand now might not necessarily be in demand a few weeks from now.

It’s also vital to remember that looking for work and finding a lifestyle that suits you takes some time and resources. There might be times when you might not find the desired career or position you’re looking for. But whatever the situation may be, being patient is key to getting to your long-term goals.

How to Land Jobs in ESG-Relevant Positions

Last Updated on May 8, 2023 By Ifama Leave a Comment

You’ve come to the right place if you’re looking for a career in Environmental, Social, and Governance (ESG) relevant positions. The world is changing fast, and companies are looking for professionals who can navigate the ESG world and make positive contributions at work.

ESG has become an essential part of the modern business landscape, and clients, stakeholders, and regulators increasingly demand that companies address their social and environmental impacts.

So, how do you land jobs in ESG-relevant positions? Here are some ways to help you get started.

Do your Research

Before applying for any ESG-related job, it’s essential to research the company’s ESG goals, strategies, and initiatives. Start by reviewing their sustainability report, which will give you an idea of the company’s current ESG practices.

Ensure you understand what the company does, its clients, and the relevant ESG regulations they must comply with. The research will help you tailor your application to the company’s needs.

Network

Building connections is essential to landing a job in any field, and ESG is no exception. Attend industry events, webinars, and conferences to meet like-minded professionals and learn more about the industry. Joining relevant LinkedIn groups and engaging on ESG-related topics can also be a great way to expand your network and gain visibility in the industry.

Take Online Courses

Platforms offer a variety of ESG courses, ranging from sustainability fundamentals to sustainable finance and ESG investing. While a degree in a related field can be helpful, it’s only necessary sometimes. Many ESG-related roles value practical experience, and online courses can be a great way to gain relevant knowledge, skills, and credentials.

Volunteer

Volunteering with an ESG-oriented organization can be a great way to gain practical experience and expand your network. Look for organizations that align with your values and interests, and offer opportunities to work on sustainability-related projects, social impact, and governance. This experience can be valuable in your personal development and job search.

Learn to Quantify the Impact

ESG is about measuring business practices’ impact on society and the environment. Quantifying this impact can be a valuable asset in any ESG-related job. Familiarize yourself with tools such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB), which provide frameworks for measuring and reporting ESG performance.

Stay Informed

The ESG landscape constantly changes, and staying current on the latest trends, regulations, and best practices is essential. Follow industry publications, and read up on the latest ESG reports and rankings. This will help you prepare for interviews and show hiring managers that you’re passionate about the industry and committed to learning and growing.

How to Land Jobs in ESG-Relevant Positions – In Conclusion

Landing jobs in an ESG-related position can be challenging but rewarding. By researching, networking, taking online courses, volunteering, learning to quantify the impact, and staying informed, you’ll be well on your way to a fulfilling career in a field that positively impacts the world. So, go ahead and take the first step; the ESG world is waiting for you.

Joining the Medical Field: High Demand Healthcare Jobs Hiring Now

Last Updated on November 17, 2021 By Tristan D. Porter Leave a Comment

It is no secret that since the pandemic, healthcare occupations have been in demand like never before. COVID-19 coupled with an aging population is causing the healthcare industry to skyrocket. If you are looking for a rewarding career path that is both lucrative and flexible, you may want to consider taking a job in healthcare.

The past two years, and the rapidly spreading COVID-19 pandemic, have caused significant damage to many different occupations and job markets. However, according to the Bureau of Labor Statistics, healthcare industries are projected to grow much faster than the average occupation. Healthcare jobs are expected to rise at least 16% from 2016 to 2026. If you are serious about finding consistent work with high potential for growth consider the following healthcare occupations.

Physician Assistants

Just like doctors, physician assistants are medical professionals that treat and diagnose illnesses in patients. Responsibilities include prescribing medications, managing treatments, and therapies, and acting as a primary healthcare provider. Since COVID-19 caused hospitals to fill up in record-setting numbers, patients have been advised to seek medical treatment outside of hospitals. This has increased the demand for private practices, minute clinics, and physician assistants.

Physical Therapist Assistants

If you are looking for a career path that is constantly growing and always in demand, you may want to consider a job as a physical therapist assistant. As a physical therapist assistant, your primary role is to help improve the physical capabilities of your patients. As one of the most rewarding occupations in healthcare, you will be able to witness your patients grow from the start of an injury or illness to the end of a full recovery. While assisting the physical therapist, you will help your patients perform specific tasks to improve their mobility, strength, and other physical attributes.

Respiratory Therapist

Respiratory therapists are in high demand, especially with the damage COVID-19 can do to the respiratory system. As a respiratory therapist, you would be responsible for working with patients who have difficulty breathing. Some causes of respiratory issues stem from asthma, emphysema, cystic fibrosis, and various sleep disorders. Respiratory therapists also have the freedom to work in many different professional settings. You could find work in emergency rooms at a hospital, private medical offices, asthma clinics, and more.

Medical Secretary

With the growing need for medical practices, medical secretaries are becoming more and more in demand. While not entirely correlated with patient care, medical secretaries are the backbones of the doctor’s office. Tasks include everything from greeting patients to managing records, collecting insurance information, and processing payments. Medical secretaries also schedule patient visits, oversee the medical supply inventory, and arrange hospital visits.

Healthcare Manager

Healthcare managers play an essential role in the day to functions of any healthcare industry. Responsibilities include overseeing various departments such as physical therapy, doctors, offices, hospitals, nursing departments, and more. Healthcare managers, also known as medical managers, coordinate and direct healthcare providers’ everyday business operations and tasks. You would do everything from hiring new employees to managing billing operations and creating work schedules.

Registered Nurse

While one of the most popular careers in healthcare, nursing is also the most flexible. There are limitless amounts of nursing career paths to take, resulting in high-demand jobs in every department. Registered nurses can find work at hospitals, private clinics, nursing homes, schools, and more.

Responsibilities include observing and analyzing patients, treating patients, recording medical data, operating medical equipment, and communicating with doctors, patients, and families. Nurses can also work anywhere in the country and even travel from state to state working in different hospitals.

Job Security and Higher-Than-Average Pay

As the healthcare industry continues to grow, more and more career paths arise every day. You can now find consistent work in every aspect of healthcare, from technology, administrative work, services, and more. If you’re looking for a new career path, now would be a great time to discover what the healthcare industry can provide for you.

9 Tax-Saving Opportunities For Businesses To Make The Most Of

Last Updated on November 10, 2021 By Tristan D. Porter Leave a Comment

Individuals and businesses have to prepare during the annual tax filing period, whether with the help of a tax expert or by themselves. However, many may not be fully aware of how they can avail of tax-reduction solutions such as tax credits and deductions.

Before the year ends, it pays to review your business expenses and financial statement for proper tax planning. Read this article to find out about the tax-reduction opportunities that your business may be missing out on.

How Businesses Can Save Tax On Tax Payments

Tax laws in most countries can be complicated. Hence, it’s best to hire tax experts like the ones from HKMP’s business accounting services or similar specialists near you. Generally speaking, there are two ways that your business can save on taxes: through tax deductions and tax credits. These two concepts work differently and impact your tax costs in distinct ways.

Business tax credits reduce the tax you owe by the dollar. For instance, if your business is eligible for USD$1,000 and your final tax liability amount is USD$4,000, your tax burden will only be USD$3,000.

On the other hand, business tax deductions reduce a taxpayer’s taxable income. They’re directly dependent on the tax bracket in which the business belongs. For example, if an entity’s tax burden is at USD$10,000 and the company belongs in the 20% bracket, the deduction is only worth USD$2,000.

Business Tax Credits And Deductions Your Business May Qualify For

For centuries, tax collection is often used to fuel government expenses that provide better services to taxpayers. However, governments of different levels offer tax credits and deductions to stimulate more economic activities. In the US, businesses can avail of tax savings through the following:

1. Tax Deductions on Business Expenses

Most business expenses may qualify you for specific tax deductions. For instance, advertising and promotion costs are 100% deductible. In addition, some food and beverage expenses may lower your tax liabilities under this category by half, except for office event meal expenses, which are wholly deductible.

Other business expenses that may qualify for business tax deductions include:

Insurance and permit costs
Use of vehicles for business purposes
Hiring contractual employees and consultants
Depreciation costs for business assets
Employee training
Education expenses

Home-based business owners may also claim these deductions as long as personal and company expenses are clearly defined and accounted for.

2. Research and Development Tax Credit

Research and development take a considerable chunk of a business’s capital expenses, including countless staffing hours. To encourage companies to make their products more globally competitive, the government offers tax credits for companies that improve products, processes, and software.

The Internal Revenue Service (IRS) lists all qualified business expenses and requirements in the Internal Revenue Code Section 41. Businesses may have to present financial records and documents to avail of this tax incentive.

3. Work Opportunity Tax Credit (WOTC)

Another federal tax credit program, the Work Opportunity Tax Credit (WOTC) is available to businesses that employ individuals from target groups such as veterans, former felons, and cash-strapped individuals. There’s no limit to the number of employees a company can hire, and any type of job arrangement, whether full-time, part-time, or on-call is eligible.

The business has to apply for and receive certification before being qualified to claim. Both the employee and employer may qualify for business and personal tax credits under WOTC.

4. Fuel Tax Credit

This program allows particular businesses to save on their tax liabilities if they’re engaged in eco-friendly practices in transporting goods and services. Examples include using electric vehicles and alternative fuel for farming, commercial fishing, and other business purposes. Some businesses that may operate pieces of industrial machinery may qualify for this tax-reducing program. The Department of Energy (DoE) spearheads the Fuel Tax Credit program.

5. Investment Tax Credits

Big-ticket investments for new business property such as vehicles, buildings, pieces of industrial equipment, or major office renovations may qualify your business for a tax credit. This government tax benefit allows companies to get a rebate from these high costs.

Tax rebates are also applicable in some solar panel installations for buildings, also called Solar Tax Credit. Investments in economically-challenged communities may also qualify companies to avail of the New Markets Tax Credit. This program allows entities to claim five percent of the total investment amount for the first three years, increasing to six percent from the fourth to seventh year.

6. Health Insurance Tax Credits

There are two ways that businesses can save on a health insurance tax credit. Also known as a premium tax credit, companies may claim discounts every month through reduced insurance premiums or a federal income tax refund. This tax credit is only available if businesses purchase a federal or state-backed insurance plan. By getting a Health Savings Account, a highly deductible health plan, employers and employees can reduce tax costs and medical fees.

7. Childcare Facilities And Services Expenses Tax Credit

Businesses that pay for their staff’s childcare expenses are eligible for this tax-saving program that offers a 25% refund on child care expenses, alongside a 10% reimbursement for childcare resource and referral costs, granting that the state accredits these facilities. Availing of this tax incentive can reduce your business liabilities by up to USD$150,000 annually.

8. Disabled Access Tax Credit

The Americans with Disabilities Act (ADA) requires businesses with at least 15 workers to make their premises more accommodating to differently-abled employees. Doing this will undoubtedly entail costs, but your company can apply for tax relief. This program allows small organizations with total earnings not exceeding USD$1,000,000 to apply for a 50% rebate for their ADA-related expenditures with an annual cap of USD$5,000.

9. Carryforward Tax Deductions

Sometimes, businesses may have deductions, losses, and credits that they can’t fully claim during the current year. This happens when your business tax claim exceeds the amount set by the IRS and the state. In these cases, companies may file these refunds over the next year. Such tax provision is otherwise known as a carryforward.

With the help of your accountant, take note of these tax-deductible claims so you can claim them the following year. You’ll also need a tax expert to qualify which tax credits and deductions are allowed under the carryforward provision in your state.

Final Thoughts

Tax filing can be a highly stressful activity, particularly for small business owners. Without knowing these tax-saving opportunities, a business that qualifies for tax credits and deductions may end up paying more than it’s supposed to. With the help of an accountant or a tax specialist to do the heavy lifting, you’ll be able to breeze through the filing process and enjoy lower tax liabilities.

Career Opportunities with Masters of Business Administration Degree

Last Updated on July 30, 2021 By Jason Obrien Leave a Comment

Do you wonder how the world around you is evolving? How has humankind managed to transit itself from living in caves to a global village? The traits of adaptability, management, rapid growth, thinking out of the box, business mindset, and administration have the most outstanding shares in this evolution. You may find unmatchable illustrations of these traits around the globe and witness wonders coming into existence due to them.

The fruitful manifestation of these traits began during the 18^th century in Britain. Humankind started to move from an agricultural and handicraft-based economy to one dominated by machines. During this transition, capitalism began to bloom its flowers in the form of capitalist firms. The first product of these capitalist firms was a Factory. Since then, human history witnessed industrial revolutions, and the acceptance of these attributes kept on increasing. Finance, communication, risk management, organizational behaviors, and many management subsidiaries persisted in high demand.

In 1908, Harvard university scientifically approached management and began a new educational program named master’s in business administration (MBA). This feat helped in standardizing the training for business administrators and managers of distinct fields. Master’s in business administration is a well-defined training that equips people with operational and economic understandings. Managerial processes, administration, leadership roles, mindset enhancement, and unconventional thinking are the key focuses of this program. Once an individual gets acquainted with all these abilities, he gets to be highly eligible for a starring career.

Opportunities in the Education sector

Business studies have gained ample weightage in the education sector and get promoted worldwide. Therefore, the demand for an MBA program has never been higher. Since the pandemic, numerous incentives are getting provided to professionals for enrolling in MBA. Versions like Online MBA, Executive MBA, and evening programs are abundantly available.

The only challenge you may face is clearing examinations like GMAT, SAT, and GRE, etc. But wait! you can sigh relief because many institutions have waived the requirement of these prior exams. Imagine a candidate’s motivation if he hears an institution saying AACSB online MBA no GMAT accredited programs. What else would be there to stop him from doing an MBA!

Such strong demand creates a plethora of educational employment choices. For example, you can work as an educational policy manager, a technology manager, a faculty recruiter, a curriculum manager, an educational consultant, or even a mentor in the field of education. It’s always a golden opportunity to serve an educational institution due to its diverse nature. Pursuing a career in the education sector ensures you a comfortable working environment, high salary, and broad spectrum of scope.

Opportunities in the Corporate sector

Have you heard of not laying all your eggs in one basket? MBA is a practical solution for it. It has such a rich diversity in opportunities that you would never get short of career options. MBA holders are often found in leading positions almost everywhere in the Global market. In addition, the diverse nature of an MBA encourages students to have specializations in multiple fields, especially related to finance, accounts and administration.

You can attain skills in numerous sub-categories of business administration. Certifications and training courses are always there to offer their services. This quality of MBA proves it to be one of the most suitable educational choices. You can acquire accounting, finance, marketing, risk management, human resource management, project management, and operations management skills.

There is nothing to worry about if you don’t find the prior mentioned field suitable for you. You can fit yourself in many other options like accounting, corporate strategy, decision sciences, entrepreneurship, information systems, international business, management sciences, organizational behavior, etc.

Be your boss

Are you not comfortable working for stubborn bosses? Opportunities in the education & corporate sector do not satisfy you? Don’t worry because you can always step into the market as an entrepreneur. Many students study MBA for the sake of entrepreneurship. Your MBA degree offers you full support if you want to grow your career as an entrepreneur with or without investment.

Faculty employed for MBA programs are mainly well-experienced as an entrepreneur. They have a lot to offer in the shape of their real-life experiences and the challenges that you may face while starting your own business. Not only faculty, but you can find your colleagues are working in related fields. As your professional network grows, you get more people to take guidance from about the problems.

The graduate management admission council (GMAC) interviewed over 6000 alumni of MBA programs. It concluded that 86% of alumni who were entrepreneurs founded their own companies and the rest of the established business consulting or service industries.

Career security

You can always hope for job security and a positive mar ket response for MBAs. The corporate market is well-driven by people who have backgrounds in Business administration. As an MBA, your demand would not depend on the market sector. Regardless of which sector it belongs to, every industry needs an adequate administrative framework.

A survey by Statista confers that 92% of employers declared that they plan to hire MBA graduates in the year 2020. Even after the Covid-19 pandemic, where the whole world faced the dilemma of unemployment, this demand decreased to 83% only. What else do you need to observe the market demand of MBA graduates?

You will not only enjoy job security in your career but a handsome salary as well. QS jobs and salary report declares the average salary of MBA holders in the United States to be around 102,100 USD per year. Such a secure career and handsome salaries certainly make MBA an excellent opportunity for individuals.

Final thoughts

Master’s in Business administration has shown tremendous growth as an educational course in the past few years. Yet its demand is expected to increase only. However, it does offer you not only a hamper full of opportunities but also polishes your personality. As an MBA student, your growth as an individual is equally prevalent with your growth as a professional.

An MBA degree is not just a piece of paper. Instead, it is an anecdote of a professional experience and networking. The addition of new skills and valuable information offers career leverage in the long term. In addition, these skills and personality enhancement contribute to your success throughout your lifetime.

10 Reasons Why You Fail in Getting a Dream Job

Last Updated on April 1, 2020 By Ali Husnain Leave a Comment

It’s time to talk about the “F” word. (No, not that “F” word.) Failure. Everyone wants to avoid failure but a few try to figure out why they fail over and over again. No matter who you are, what you do, the laws of failure are rarely prejudiced.

It goes without saying, we all experience setbacks. This truly makes sense in terms of your career. But it shouldn’t come at the expense of sacrificing your dream.

There are many factors which direct your job prospects and one needs to be aware of them. The time when you’re unemployed it’s not only hard on your wallet, but it’s also hard on your self-esteem.

Top 10 reasons why you may not get hired

You’ve spent dozens of weeks in the hope of HR emails and interviews, it’s unsurprising to get discouraged. You may fall into an inertia bubble or start to demonize your circumstances. The sad part is; it’s not the cure. But, the good part is; you can work on these to increase probability.

1. You’re Not Being Proactive

The sooner you understand that the perfect job doesn’t fall into your lap especially when you’re binge-watching Netflix (not intentionally demonizing). However, successful job seekers take responsibility for their life and proactively pursue jobs and keep on auditing their hunt until they make it.

Whereas other people keep blaming external factors that it wasn’t their fault, that they couldn’t have done anything to help it, you see how it generally rolls. By the way, it’s known as having-an-excuse-for-everything disorder.

What makes the difference?

Realize that in order to change it, you have to own it first. The belief that you have the power and ability to change your life remarkably surge your odds to achieve your dream job. That being said, Proactivity makes the difference. Many people wait for something to happen or someone to care for them.

One of the traits of proactive people is that they are ones who are the solutions to problems, not problems themselves. They seize the opportunity to do whatever is required to get the job done. You chose do you want to act or be acted upon. In simple words, what matters most is how we respond to what we experience in life.

2. Talent is Overrated

What it takes to be great? Well, If we look at the top performers from Winston Churchill to Warren Buffett and Oprah Winfrey are not determined by their inborn talents but from hard work and consistency honed over decades. Most of us tend to think if someone’s good at something it’s because their greatness was given to them. When it is just plain hard work.

Be it career or relationship, if you want to achieve success it’s essential to perform at the edge of your current level of ability. Relatively, a dream job can’t be fabricated out of thin air, hustle and grind are always part of the equation. The unfamiliar experience of success borns out of practice, deliberate practice to be exact.

That means when you put in work and practice while meticulously assessing your mistakes and wiping them out, you are destined to succeed.

3. Your Non-Verbal Cues Betrayed You

Body language speaks a volume about your personality. A famous research mentioned that; “human communication is only 7 percent verbal and 93 percent non-verbal The non-verbal component was made up of body language (55 percent) and tone of voice (38 percent)”.

The inability to communicate effectively determines your success rate in a career.

The average interviewer will talk to a lot of candidates, that’s obvious, right? It gets crucial for you to set yourself apart and stand out from the crowd to win the job.

Thus, behaviors like fidgeting or verbal tics “Ums” and “Ahs” can be a deal-breaker. Suppose you landed yourself a one-on-one interview. Congratulations! With so many candidates applying to get their name out you have made it by crossing all the obligatory filters. Now, all you have to do is crack the interview. In order to successfully land the job make sure that your non-verbal cues don’t betray you. Ensure a firm handshake, strong eye contact, good posture and leave with a gentle smile. Confidence is the key, my friend, even if you have to fake it.

4. You Quit too Early

“You are not defeated when you lost You are defeated when you quit”
Paulo Coelho.

Life can be tough, it can break you down, make you suffer but if you just manage to show up, you made all the difference. By doing so, you already surpassed the people who gave up. Rationally, the odds of your success have dramatically increased.

People who have risen to the top of their fields and are making a large contribution to their organization have worked for many years to climb up to this level. They have put in countless hours to refine their craft, learned more skills and bridged their gaps. Crave for better results, a better career, and a better life; that’s only possible when you don’t fall in the trap of instant gratification. Remember the consistency advice that’s been hammered in our heads since childhood? It’s actually Real.

5. You are Unprepared

Little things can make a big difference when you only have 30 minutes to leave an impression. Appearance counts, make sure to have the outfit that makes you feel powerful and appropriate for the company you will be applying for.

Managers pay close attention to details like hairstyle, body odor, and clothes. Lack of Polish conveys the message of your unseriousness. However, buying a new set of clothes is a wise bet. Even if you get rejected, you have a good outfit to put on for future opportunities.

Being prepared not only accounts for appearance but mindset as well. The mindset that “Either I win or lose I will learn something out of this experience” helps you cope with the uncertainty of the situation.

6. Failure Is The Part of Process

Failure completes the equation. If you fear failure, you fear success. Success often sits on the other side of the struggle, after every storm, there’s a rainbow. It brings us to the fact that Screwups are inevitable.

As humans, when our hard work doesn’t bring fruits, demotivation gets in our way. For a fact, your struggles are not getting wasted but keep storing up, layering up on the top of each other until it reaches a certain threshold. There’s a specific amount of effort you require to overcome that threshold and unlock the reward.

Follow the simple rule of thumb; that the most anticipated rewards are delayed. Albeit, failure is far better than the regret of not trying. The ability to play the long-game can make the odds of your success quite evident.

7. Reverse Engineer Your Failure

Reverse engineering can be an incredibly useful way to look back on your history of failures and reflect what caused it so. This way, you can walk into that moment and figure out what precisely happened and squeeze as many learnings out of that experience.

Putting your rejection into context enables you to systematically plan your future steps by looking through the lens of data. It equips you with the essential idea of Dos and Don’ts. Experience only turns into insights when we reflect on it. Otherwise, you’ll see tens of retired guys with little or no success. If you haven’t learned something out of your previous loss, you’re anticipating a new one.

8. You Lack the Skill to Sell Yourself

You’re always selling yourself, be it’s your products, thoughts or ideas it’s something you naturally do. When you’re interviewing for a job, your job is to sell the hiring manager on why you are the right candidate for the position. Firstly, you’ve to know what value you can bring, what are your strengths and weaknesses? What makes you different? With this awareness, you get a better sense of who you are and what you can do.

It’s important to clearly articulate your skills or abilities and back it up with results from your past work. It puts you on the map of success.

There’s a fine line between being corny and confident, so make sure to maintain it. Avoid touching both extremes.

9. You Don’t Have the Right Network

Networking is the bedrock of your professional success.

A strong network keeps you updated about the current trends and job openings within the organization. These days social media makes it easier than ever to connect with new people and expand your professional network.

A majority of employers tend to hire someone they already know and search among their current list of connections. If you aren’t already in their sphere of connections; make sure to chip in.

The best ways to grow your network includes attending conferences, local meetups, and industry events. Let me remind of the amazing quote:

“It’s not what you know, it’s who you know.”

10. You Haven’t Researched the Job

Probably, the most common reason why you fail in getting your dream job. If you haven’t done your homework, you’ll never get the chance to impress the employer. Research not only equips you with the crucial information that’s essential to land a lasting impression but also helps you compose questions about the job itself.

Thus, grasp as much information as possible about the company you aim to work with. Well, good research prepares you to answer the tricky questions such as why should we hire you or Tell me a little about yourself Etc.

Hope this article helped you get a clear idea of why people fail in getting a dream job. If you found it valuable, do consider sharing it in your network.

Everything You Need to Start a Career in Accounting

Last Updated on May 22, 2023 By Jason Obrien Leave a Comment

Accounting is a field with vast opportunities and flexibility, ranging from traditional financial management to emerging roles in data analytics and financial technology. But before you can start to climb the corporate ladder, you need the right foundation of education, skills, a professional network, certifications, and tools. This article will provide you with essential information to ease your entry into the accounting profession. Keep reading to learn how to set yourself up for success.

Skills and Qualifications

Beyond formal education, accountants should develop a diverse set of skills and qualifications required by employers. At the forefront are strong technical skills in accounting software, such as QuickBooks or Microsoft Dynamics, as well as advanced proficiency in Microsoft Excel.

If you are searching for remote accounting jobs, being proficient in cloud accounting software like Xero or Wave will be particularly valuable. It’s also crucial to stay up-to-date with accounting regulations and standards, such as the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP).

In addition to technical expertise, accountants must also exhibit strong interpersonal and communication skills. Accountants frequently collaborate with colleagues across multiple departments and must be able to communicate complex financial concepts and data to non-finance professionals, both verbally and in writing.

Furthermore, developing problem-solving and analytical skills is crucial for accountants, as they play a central role in identifying inefficiencies, evaluating financial data, and making data-driven decisions that can impact an organization’s bottom line.

Professional Certifications and Tools

Obtaining professional certifications can significantly enhance your accounting career prospects. Globally recognized certifications such as the Certified Public Accountant (CPA), Chartered Accountant (CA), or Certified Management Accountant (CMA) can set you apart from the competition and demonstrate your commitment to the profession. Moreover, certifications can open up opportunities for higher salaries and specialized roles in the accounting industry, such as tax planning or financial consulting.

You also need the right tools and office supplies for accountants. In addition to accounting software, consider investing in secure and efficient cloud storage systems, project management tools, and document scanning apps to streamline your workflow and ensure the security of financial documents. Furthermore, maintaining a well-organized workspace with essential accounting offices supplies, such as calculators, file and tax folders, and notebooks, is crucial to managing your daily duties efficiently.

Education and Degree Programs

Starting a career in accounting begins with acquiring the right educational background. This often means earning a bachelor’s degree in accounting or a closely related field, such as finance or business administration. Those who desire to be accountants should be prepared to take courses in financial accounting, managerial accounting, taxation, and auditing, as well as other relevant courses in business, economics, and information systems. A solid understanding of core accounting concepts and best practices during this stage will help lay the groundwork for your professional growth in the field.

While a bachelor’s degree can be sufficient to start your accounting journey, many professionals choose to pursue advanced degrees, such as a master’s in accountancy or a master’s in business administration (MBA) with a concentration in accounting. Advanced degrees can unlock better job opportunities and higher earning potential. Those who aspire to top managerial positions or want to work in specialized fields within accounting, such as forensic accounting, international tax, or data analysis, may find a master’s degree particularly beneficial.

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Professional Networking and Building Connections

Like any reputable profession, networking is essential for success in accounting. Connecting with other accounting professionals, attending industry events, and joining professional organizations can provide invaluable networking opportunities. These gatherings can help you build relationships with potential employers and colleagues and mentors and peers who can provide guidance, encouragement, and insights as you navigate your accounting career.

Use social media, especially LinkedIn, to establish a professional online presence and showcase your skills and experience. LinkedIn is an excellent platform to connect with other accounting professionals, follow industry news, and search for job opportunities in the field.

Starting a career in accounting requires a combination of education, skills development, networking, certifications, and access to the right tools. By strategically building your knowledge and experiences, you will be well-equipped to excel in the accounting profession and achieve a successful and rewarding career.

Advantages and Disadvantages of Functional Organizational Structure

Last Updated on April 26, 2023 By Methew Harbor Leave a Comment

A functional organizational structure is the most common among different organizational structures. It ensures every function in the company is carried out properly without any hindrances. The employees and managers in a functional system are experienced in their fields. Each person has a specific role that contributes to the overall operation of the organization. This article has everything, including the advantages and disadvantages of functional organizational structure.

What is a Functional Organizational Structure?

A functional organization may also be called a departmentalized approach organization.

The functional organization structure comprises different departments based on their function.

Each department has a leader known as the functional or department manager. They are specialized in the relevant field and are usually experienced for decades. The expertise of the functional manager enables them to analyze their team and ensure goal completion. The department manager may follow a leadership style of his choice. Most functional leaders follow autocratic leadership, while now many opt for laissez-faire leadership.

A functional structure example includes different departments in a pharmaceutical company. Each department performs a specific set of tasks and reports to its manager. A pharma company is departmentalized into production, quality control, validation, regulatory affairs, marketing, etc.

Some organizations may follow other structures besides functional organization. Opposed to a functional organizational structure, a project structure constitutes a project manager/leader. A matrix system is a dual-management system where the team members report to a functional and a project manager.

Advantages of Functional Organizational Structure

Better Productivity

Employees who work in a department that matches their skill set understand the work more quickly. They perform better than someone with a different educational or experiential background. They do not require all-time supervision and can drive better results. The confidence of people skilled and experienced in a particular domain, enables them to do their best over a short period.

Improved Skills

It is no lie that any manager who believes in growth helps you improve your skills. But, do you know who can help more? A manager who has a similar field of work to you will be able to teach you more than someone with different expertise.

Many people with similar knowledge and skills work together in a functional department. However, some have a better skill set and in-depth knowledge of operational aspects that you might not know. Working with such people provides a better opportunity for newcomers to benefit from the seniors’ experience. It not only improves their technical skills but also helps develop soft skills.

Saves Time

A functional system is quite quick as everyone performs specific tasks assigned to them without ambiguity. Every department in the company is associated with a particular set of tasks. The processes are smooth and run swiftly.

When a person in the marketing department needs to talk about his salary issue, he knows who to approach (the finance department). Similarly, when the salespeople from the sales department want to know why production was not up to the projected numbers, they may contact the production officer or manager. This kind of system brings clarity of roles within a company and saves time.

Expansion

It is easier to expand operations in a functional organizational structure. When growing a functional structure, you only need to add more departments or sub-departments within the system to distribute the workload. Like line and staff organization, it is convenient to expand the functional system. However, an added benefit is that you do not have to worry about more line managers. You can begin by recruiting a manager with the required skill set and build the team gradually.

Better Control

Managers find it more convenient to manage a team of individuals with a familiar skill set. It lets them analyze the performance of their team members better and control their actions. When a manager is not adept at the work they supervise, they might not be able to judge their teammates’ abilities fully. Departmentalization gives better control to the managers over the functioning of the workers.

Cooperation

Members of a department are more likely to work in place of each other when needed than in project organizational structures. As everyone in that functional unit understands each other’s work, they may replace another member when required. It improves coordination among the team and promotes harmony (especially under an affiliate leader).

Less Operational Costs

A functional organizational system also helps businesses save money besides enabling the team to improve their skills and enhance production. Improved efficiency of the employees leads to a lesser need for supervisors. They save time and enhance production because of their expertise in their field. The functional organizational structure can fit any organization but is more suited to larger enterprises. Small companies usually do not have many employees to group them into different departments.

Job Security

Being a part of a functional organization system provides job security to the workers. They are difficult to replace as they improve their skills and become experts in their domain. Contrarily, they might not get the right opportunities to focus on their professional growth in a different organizational structure. The sense of job security boosts motivation and heightens their morale. The employee works harder to be the best at their craft.

Promotions

A functional organizational structure offers better chances at promotions. As people gain more skills, they perform more efficiently. Efficient work and confidence in their skills make them eligible for promotions.

Disadvantages of Functional Organizational Structure

Slowed Decisions

Unlike laissez-faire, which enables the employees to make decisions, a manager makes the final decision in a functional organizational structure. Sometimes, the decisions may require the approval of the higher hierarchy, including the CEO or board members. The absence of any of the decision-makers causes a delay in functioning. It may also lead to a delayed output of crucial matters.

Inter-Departmental Competition

It is no news that the departments of a company often compete with each other. Mostly it is based on performance where one department wants to take the credit for all the hard work. Different departments might build a mindset when incentives are involved in achieving goals. The inter-departmental competition ranges from the worker level to the managerial level. Sometimes, the departments also blame each other for operational issues. For example, the development team might blame the quality assurance department for bugs in software.

Limited Growth

As we mentioned, people in a functional organizational system improve their skills through guidance from the leadership. You can benefit from a functional system if your manager is interested in teaching you. However, it is subjective to your team members and managers. When your manager follows a coercive leadership style, they expect you to only focus on the work given.

Communication Issues

Besides competition, communication issues may arise between departments. Sometimes a team member expects the other to convey a message to another department. In case they forget, the task remains undone until they inquire about it. This interdepartmental miscommunication and conflict may harm the business. It often leads to major problems as the managers think the other department did it intentionally. This can be improved with proper methodologies.

Boredom

Monotony can sometimes lead to boredom and reduce enthusiasm among employees. When workers first join a department, they enjoy tasks matching their skills and expertise. Yet, over months or years, they get tired of working in the same environment. A functional organization may not be able to provide a different role as they require specialized persons.

Rigid

Managers make decisions that they find suitable without considering the impact of their decisions on different departments. Working in one department may lead to a lack of information about other departments if you do not communicate well. It can cause rigidity within the company where changes and flexibility are not welcome.

Isolation

Some departments in an organization are isolated from others because of their functions. For example, the manufacturing plants of many companies are in distant industrial areas. They do not get to interact with several departments. Sometimes the employees may get tired of working in an isolated place and expect the company to change their role.

Autocratic Leadership

Often autocratic leadership rises in functional organizational setups. Today, employees do not appreciate coercive, authoritative leadership that lacks innovation. Some workers might also leave when they think that the environment is too dictating. Employees must be dealt with in a non-dictating way to instill ownership in them.

Employee Retention Costs

Employees sometimes look for better opportunities when they are more skilled. They understand their value in the market and apply to better places for jobs. If you depend highly on them, you must increase their salary and benefits. This eventually leads to added costs in the recruitment process.

The Bottom Line

The advantages and disadvantages of a functional organizational structure go hand in hand. While it improves the employees’ skills, it enables them to look for better job opportunities. It enhances coordination within the departments but also increases interdepartmental competition. It also boosts productivity, offers better control, and eases expansion. However, functional organization disadvantages include monotony, rigidity, interdepartmental communication issues, and employee retention costs.

What Role do Entrepreneurs Play in Economics

Last Updated on April 16, 2023 By Methew Harbor Leave a Comment

Entrepreneurship has become a common term in the past years, which was not much known previously. Entrepreneurship is another word for a start-up or a business. Entrepreneurs typically do not start with huge capital, and only 1 – 2% of entrepreneurs emerge yearly. However, innovative and dedicated entrepreneurs play a vital role in economic growth. Let’s tell you about the role of entrepreneurs in economics.

What is Entrepreneurship?

Harvard Business School defines entrepreneurship as the “pursuit of opportunity beyond resources controlled.”

Entrepreneurs and solopreneurs are different in their organizational manner. An entrepreneur is a business leader who brings new ideas or creates a business with existing ideas. A solopreneur is a one-man army. On the contrary, an entrepreneur might not have an extensive set of managers. Yet, they have a few team members working for them.

Entrepreneurs bring more job opportunities to the masses and contribute to the overall economy of a country. Here’s how:

Job Opportunities

Entrepreneurs need people on their teams to manage business activities like production, packaging, finance, and customer care. It enables them to recruit more people and provide employment opportunities. It can help solve unemployment locally as start-ups usually take people from nearby areas.

Wealth Sharing

As entrepreneurs do not have a lot of money, they connect to investors. Investors often invest in their businesses in the form of debt or equity. Eventually, the entrepreneurs earn from the invested money and give the decided share to the investors. Wealth sharing through investments also enables entrepreneurs to pay better to their employees. It leads to wealth creation and sharing within a population to help everyone grow together. It is one of the fundamental goals of economic development.

Living Standard

Improving the standard of living is the primary goal of economic development. Entrepreneurs play a major role in the economy by elevating the living standards in a community. It is not made possible only by the addition of more job roles. Instead, the related factors impact those living and working in those areas. Many companies provide better facilities to their workers to ensure they do not get tired of the job. These facilities keep them connected to your company and drive them to do better.

Regional Development Balance

The addition of new businesses to backward and rural areas helps regional balance development by providing opportunities. When more people set up their production units in rural areas, it allows them to work to earn better. It also comes with other benefits like improved water supply, stable electricity, better roads, etc., due to the industry’s needs. Entrepreneurs support the regional public by recruiting them for their facility directly and involving them in related tasks. The government also encourages setting up businesses in less privileged areas to reduce economic disparity among different socioeconomic classes.

GDP

Adding more businesses helps boost the overall economy in one way or another. These businesses also bring foreign exchange as a result of product export. Entrepreneurs become a major part of the economy in countries with high entrepreneurship rates. Small-scale industries like cottage industries may also be categorized as entrepreneurs. You might be surprised to know that the cottage industries contribute to more than 60% of the total economy in India. The utilization of local labor and resources increases per capita income, contributing to the GDP. It is among the most critical goals of economic development in any country.

Capital Optimization

Entrepreneurs are all about money once they are stable. They want to produce a significant investment return to keep the investors engaged for a long time. It leads to capital optimization by offering high employment and a high capitalization ratio. The locals receive more money due to better jobs, and the investors get better returns.

A win-win situation for the workers, investment, and the government!

Reaching Consumer Demands

Every company works to produce many products that cater to the market demand. However, most entrepreneurs come with innovative products that add value. They take care of the consumer’s demands ensuring a steady supply.

Development of Trader

Entrepreneurs are an essential factor in promoting domestic and foreign trade. They take assistance from different financial institutions. Money in the form of trade credit, cash credit, loans, and overdrafts develops trade in the country and eventually helps improve the economy.

Reduce the Concentration of Economic Power

It is common in several countries worldwide that major businesses have economic power. However, this may face disruption when more entrepreneurs enter the stream. The addition of more entrepreneurs will help divide economic power and prevent autonomy.

Backward and Forward Linkages

Entrepreneurs do not work on traditional standards. Instead, they try to bring new technology to make more money without investing a lot. Implementing innovation and complying with the changing technology induces backward and forward linkages. They play a pivotal role in the economic development of a country.

Exports

While entrepreneurs do not export products initially, many eventually move toward them. This expansion of businesses globally contributes to the economy by adding developed foreign markets. It enables enterprises to reach bigger markets, sell a larger volume, better understand and adapt technology and leads to an inflow of currency.

Overall Development

Entrepreneurs do not only provide jobs to a specific number of people. Setting up a manufacturing plant may lead to the need for more units and more people to operate new machinery gradually. It will also open doors for training centers in the area to promote skills. More people will learn and adapt those skills to improve their standard of living. This leads to overall development in that region besides your business goal.

The Bottom Line

Entrepreneurs play a major role in the economy of a country. They provide better job opportunities and improve living standards by increasing per capita income. They also contribute to regional development balance by setting up their units in less-privileged and rural areas. It contributes to backward and forward linkages significantly. Entrepreneurs also boost foreign trade through export to facilitate the inflow of foreign cash.

Eight Lucrative Career Options in MBA Supply Chain

Last Updated on December 24, 2022 By Ayesha Saeed Leave a Comment

Supply chain management is one of the most critical components of modern economies and markets globally. A supply chain manager, on the other hand, is responsible for ensuring the needs of consumers are met in an efficient and timely fashion.

A breakdown in the supply chain of goods can cause disastrous effects on economies and human life.

Due to the nature of the role, supply chain management offers diverse job opportunities in almost every sector of business. You can select any industry in the world, and you will find a suitable position for a supply chain manager.

A supply chain manager is responsible for keeping track of a company’s logistics and regularly updating the inventory. Moreover, supply chain managers collaborate with vendors worldwide to ensure smooth business operations.

Furthermore, supply chain managers are also responsible for predicting the growing needs of consumers for specific products while ensuring there is always enough stock in production, proper distribution, and the products meet quality and safety standards.

If you’re planning on pursuing an MBA in the supply chain, here are eight lucrative career options for you to look into.

1. Supply Chain Executive

Supply chain executives manage various aspects of the supply chain and are the problem-solvers of the management chain.

They monitor and control the entire process from procurement to distribution of the goods. Their jobs entail overseeing and managing purchasing costs, production, and logistics of prompt delivery to the customers.

Supply chain executives are in demand in every industry. As a supply chain executive, you can find a lucrative hotel management position, hospital administrator, or automotive dealer.

However, it is pertinent to acquire a master’s degree to prepare for a fast-paced industry. Earning an online supply chain MBA degree from the ease of your home is an excellent idea to equip yourself with the skills and experience needed to understand the vast scope of supply chain management.

Earning a master’s degree will also increase your chances of landing a rewarding job.

2. Procurement Specialist

Procurement specialists are keys to a smooth and cost-effective manufacturing process. They manage inventories, purchase raw materials, negotiate with sellers, and manage client expectations. Their primary role is to ensure a steady flow of raw materials for production.

Procurement specialists make a production unit profitable. Their job also requires them to lower the materials’ costs while maintaining the products’ quality. You would need pronounced negotiation skills and leadership qualities for this job.

3. Chief Operating Officer

Chief operating officers (COO) are the management leaders and planners of the supply chain. COOs take strategic and policy initiatives for the overall improvement of the organization. They provide in-depth analysis and optimize the existing processes within the organization.

COOs are the go-to for the employees and the management. This role also requires them to ensure the employees are satisfied and well-connected with the organization. COOs are also responsible for the legal matters of the organization.

They work with local and international regulatory bodies and establish a good legal standing for the organization.

4. Production Manager

Production Managers are the doers of the organization. They are responsible for the timed production and manufacturing of goods. They also manage production schedules, monitor raw material stock availability, and the cost-effective production rates.

Product managers also maintain product quality control. They monitor the assembly lines for consistent output and install quality assurance procedures. Moreover, product managers are also responsible for the safety of employees in the workplace. They are also required to formulate and establish safety protocols for the workforce in case of accidents or emergencies.

5. Facilities Manager

Every safe and well-maintained workplace requires facility managers. These managers oversee the infrastructure of the organization is functional and well-kept. They conduct frequent maintenance checks for the workforce’s safety and the unit’s optimal functioning. They select and maintain the equipment on the ground and ensure the proper upgradation of the unit.

Facility managers also manage the stock and product warehouses. They ensure the materials and the products are stored according to the safety guidelines.

6. International Trade Coordinator

Trade coordinators deal with the logistics of products. Their primary role involves establishing effective communication between the organization and the customers.

In addition, an International Trade Coordinator books and ships the cargo negotiates the freight for cost-effective supply and provides customer service till the final delivery. Since international trade coordinators work with customers in different territories, they must be well-versed in international trade and laws.

7. Supply Chain Analyst

Supply chain analysts are tasked with ensuring the seamless operation of all the supply chain units. They provide detailed workings of every process step and determine the drawbacks or insufficiencies.

They provide customized solutions to improve the failings in the system. Supply chain analysts also collaborate with all the departments in the organization and ensure prompt initiatives are taken for workplace complications. They generally report to the COOs.

8. Vendor Relationship Manager

Vendor Relationship managers are the communication link between the organization and various suppliers. These managers work in tandem with vendors to manage the demand and supply of the products. They negotiate and oversee the prompt supply and the quality of the delivered products.

In addition, vendor relationship managers communicate any misgivings from the customers to the vendors about their products. This feedback is vital for the improvement of the products.

Vendor relationship managers collaborate with different vendors to acquire cost-effective quality products for the organization. Effective communication and critical negotiating skills are a must for this job.

Conclusion

Smooth and efficient supply chain management is essential for the survival of humanity. Frequent natural disasters across the globe are the major factors in disrupting the important items’ supply chain. However, with appropriate supply chain management, many calamities can be managed.

With the advent of a swift and high-paced global market, supply chain management has become the touchstone for the success or failure of an organization. Organizations must invest and plan coherent and systematic supply chains to cater to customers’ needs.

An efficient supply chain management system will make the organizations profitable in return.

Graduates with master’s in business administration with specialization in supply chain management will find lucrative career opportunities in various industries and job opportunities.