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Career

Unpaid Leave: Understanding what it’s All About

Last Updated on March 13, 2023 By Ifama Leave a Comment

Unpaid leave offers workers an opportunity to care for their family members and loved ones, grow professionally by attending various training programs, as well as a chance to explore their creative side. As an international employer, it’s vital to have a solid understanding of the types of unpaid leave regulations between jurisdictions in order to ensure compliance.

Although paid sick leave and other forms of annual leave are usually discussed with staff members, unpaid leave tends to be a topic that’s not covered in as much detail. But it’s still imperative to understand it if you are planning to operate in a compliant manner and provide the most extensive worker benefits.

Table of Contents

  • Unpaid Leave is a Requirement Protected by Legal Frameworks
  • Taking Unpaid Leave to Welcome a Newborn
  • US has no set Legal Requirement for Maternity Leave
  • Medical and Parental Leave
  • Concluding Remarks

Unpaid Leave is a Requirement Protected by Legal Frameworks

It’s worth noting that unpaid job leave is actually a requirement protected by law in most jurisdictions. That’s why it is vital that firms are in a position to offer it should their workers need it. Notably, unpaid leave that is not compulsory by law may actually be an effective way for enhancing retention and improving worker productivity. It could also go a long way when it comes to enhancing worker morale, because it enables professionals to take additional leave along with their paid company allowance.

Unpaid leave is simply a leave of absence during which a worker is able to take considerable time away from their job duties without being paid. During this time-period, the worker is able to maintain their position at their place of work and may continue to claim standard benefits. This type of package is referred to as job-protected leave.

It should be noted that unpaid leave is provided to workers who want to take additional days off from their jobs, which could be above their actual paid time-off allowance. This may be available as a standard worker benefits package or even as a special perk. A worker could, for instance, request unpaid leave so they can care for their children, or may take extended leave due to an illness, and/or because they are planning to go on a long family vacation.‍

Taking Unpaid Leave to Welcome a Newborn

In the same manner that your firm could differentiate between various forms of paid leave, it’s vital to fully understand the key distinctions between unpaid leave options as well.

For example, parents may choose to take time off (in the form of unpaid leave of absence) from their jobs when they’ve got a newborn child. This may be taken via standard maternity leave, and/or paternity leave, or some other kind of parental leave. In many jurisdictions across the globe, this leave is paid or sometimes just partially paid for a predetermined time frame.

But regulatory guidelines for making payments or the absence thereof could vary significantly by jurisdiction. That’s why it’s a good idea to discuss these options with qualified professionals or even team up with an international employment company such as Omnipresent to ensure compliance.

Nations that do require paid parental leave for a specific time-period tend to provide the opportunity to further extend the leave-period, but without receiving pay beyond that set time. In the United Kingdom, workers typically receive around 39 weeks of paid maternity leave. However, there might be an option to extend this leave for another 13 weeks, but without pay should they decide to do so.

US has no set Legal Requirement for Maternity Leave

Meanwhile, the United States does not have a set legal requirement for maternity leave. However, the country’s Family Medical Leave Act (FMLA) offers qualified team members with around 12 weeks of unpaid leave every year should they have a newborn or choose to adopt a child. This type of option is somewhat similar to getting unpaid maternity leave.

It’s worth noting that unpaid medical leave is another common type of sick leave. It’s actually the most frequently used option in the United States because there are no federal guidelines for offering paid sick leave.

Girl signature on the paper

US-based professional teams could avail unpaid leave of absence (sick leave) or medical leave via the FMLA if they care for a critically-ill family member. They might also be eligible if they’re personally dealing with a major health problem. In addition to these scenarios, there could be unpaid sick leave given to those who need to make special arrangements for military exigencies, like when a family member goes into active military duty. During unpaid sick leave, US members are able to retain their standard worker and health benefit packages.

Medical and Parental Leave

Notably, medical and parental leave is consistently ranked among the top reasons that a worker may choose to take additional time away from their job. But there are various other reasons that staff members could go on unpaid leave, like for continuing education, sabbatical leave, moving house, bereavement leave, or even a long family vacation.

These types of voluntary leaves are not typically supported by standard labor laws. Instead, it is normally viewed as a special perk or benefit, providing staff the chance to attend to their personal issues. Supporting voluntary unpaid leave could prove to be a good way to retain valuable team members while also being able to accommodate their lives and offering them the chance to focus on personal goals.

Concluding Remarks

It’s vital for every business to be well-versed in the types of unpaid leave options that should be offered to workers. When company staff has a wide range of options to choose from, their job overall satisfaction should improve. Senior management professionals should carefully consider unpaid leave packages that would suit the needs of their dynamic workforce.

Ifama

Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.

Filed Under: Career

Tips for Filipino Women to Find Career Opportunities

Last Updated on February 28, 2023 By Ayesha Saeed Leave a Comment

As a Filipino woman, finding the right career opportunity can be difficult. However, with these tips, you are sure to find a career path that fits your talents and interests. Whether you’re looking for something local or abroad, these tips can help you find a job that will benefit you and your family.

Table of Contents

  • Leverage your Network
  • Take Time to Improve your Skills
    • Take Classes or Partake in Workshops
    • Find a Mentor
    • Look for Projects
    • Read up on Industry Trends
  • Look Abroad
  • Research Companies thoroughly Before Applying
  • Utilize Job Boards and Recruitment Agencies

Leverage your Network

Networking is essential in any job search. Reach out to friends, family members, former colleagues, and other contacts who may know of any current job openings or opportunities within their own organizations. You never know who may have information that could help you land your dream job! Make sure to cultivate relationships within the industry of your choice as well – attending industry events or joining trade organizations can help you build professional connections and increase your chances of getting hired.

Take Time to Improve your Skills

Taking time to improve your skillset is essential in any job search. Having a well-rounded, impressive skill set makes you more attractive to potential employers. Here are steps you can take to improve your skills:

Take Classes or Partake in Workshops

Taking classes or partaking in workshops can give you the knowledge necessary to compete for top jobs. Many classes are available online, allowing you to work and learn at your own pace.

Find a Mentor

Finding a mentor who can help you develop new skills and offer valuable advice is an asset. A mentor can provide guidance, technical assistance, and support on your job search journey.

Look for Projects

Taking on freelance or volunteer projects is a great way to gain experience and build your skill set. Projects can also help you create a portfolio, which will be beneficial when applying for jobs.

Read up on Industry Trends

Industry trends are always changing, so it’s important to stay up to date on what’s going on. Reading industry publications and blogs is a great way to become knowledgeable about the latest developments in your field.

By taking time to improve your skills, you can increase your chances of finding that perfect job.

Look Abroad

Consider expanding your search beyond the Philippines. There are countless opportunities available in countries like Singapore, Hong Kong, Taiwan, Japan, and Korea – just to name a few! Many of these countries offer competitive salaries and excellent benefits packages that may be hard to come by in the Philippines. Researching these opportunities is relatively easy. Most countries have dedicated websites specifically for foreign workers seeking employment abroad, so make sure to check them out!

Girl hand holding airplane

And if you finally make it abroad and land a job there, you should look for ways to send money back to your loved ones. Look for a reliable money remittance center in the Philippines. This service will allow you to transfer money back home with ease. This way, you’ll be able to support your family and friends even when you’re not physically with them.

Research Companies thoroughly Before Applying

Researching potential companies before applying is essential when searching for a new job. It’s important to understand what kind of organization they are in so that you can tailor your resume and cover letter accordingly. This will also give you insight into whether or not it’s the right fit for you! Additionally, researching company culture can help determine how happy you might be working there. Look into employee reviews online or ask around people who have previously worked at the same organization before making any decisions.

Utilize Job Boards and Recruitment Agencies

Job boards like indeed are great resources when searching for jobs – they often list hundreds of open positions from all over the world! Similarly, recruitment agencies are also beneficial when trying to find work. Many agencies specialize in specific industries, so look for one that specializes in yours! Additionally, many agencies provide additional services such as resume critiques or interview coaching – so it definitely pays off to invest some time looking into them too!

Finding the right career opportunity as a Filipino woman can be challenging. However, with these tips in mind, you are sure to find a job that fits your talents and interests – whether it’s local or abroad. Leveraging your network and taking time to improve your skillset will increase your chances of success when searching for jobs. Additionally, researching companies thoroughly before applying and utilizing job boards/recruitment agencies is essential during any job search journey. With dedication and hard work, you’ll surely land that dream job!

ayesha saeed
Ayesha Saeed

A happy mom, professional article writer, SEO practitioner, blogger, guest blogger & freelancer. She’s been in digital marketing since 2018. She loves reading books and spending time with her family.

Filed Under: Career

6 Actionable Tips for Women to Ace Wealth Planning

Last Updated on February 10, 2023 By Ifama Leave a Comment

Women are not just nurturers, but also providers. They play an important role in molding society and contribute equally to a country’s economic success.

As a woman, you may be a co-worker or the sole breadwinner in your household. This necessitates careful financial planning in order to realize your dreams while remaining financially prepared for any eventuality. Here are some financial planning strategies to consider in order to reach your goals, celebrate life’s milestones, and be prepared for any financial emergency.

Table of Contents

  • Establish Your Financial Objectives
  • Begin Investing Now
  • Reduce Your Borrowings
    • It is Simpler to Obtain Proof of Income and Apply for Credit Loans
  • Make and Stick to a Budget
    • Paystubs make it Easier for Everyone to keep Financial Documents Organized
  • Strive for Balance Rather than Perfection
  • Rather than Striving for Perfection, Aim for Balance

Establish Your Financial Objectives

The first step in good financial planning for women is to identify their objectives.

A goal tells you just how much money you’ll need to reach it. This can assist you in remaining focused and spending appropriately. Your objectives can be dependent on many milestones, such as:

  • Your advanced education
  • Your relationship
  • Vacation/travel
  • Childbirth
  • Education/marriage of a child
  • Purchasing a Home

Women tend to aspire high and deliver, whether combining job and family commitments, making a difference in their communities, or all of the above. However, while doing so, women frequently prioritize the interests and aspirations of others over their own. Redesign your relationship with money by concentrating on yourself and your needs.

Begin Investing Now

After you’ve identified your objectives, you may determine how much money you’ll need to achieve them. Consider inflation while determining the amount. Invest in a financial plan that can offer you good returns and assist you in reaching your objectives.

Consider investing in a plan, which gives you the added benefit of both money growth and life insurance. It allows you to invest in equities, debt, balanced, or a combination of these funds based on your risk tolerance. You can swap between funds as you see fit. This allows you to capitalize on changing market conditions for a larger return.

Reduce Your Borrowings

Borrowing money or taking out loans may appear to be a simple choice when you are in need of funds. Fulfilling your financial demands by borrowing money, on the other hand, may tempt you to borrow more. This might place a considerable strain on your finances. The interest imposed on borrowed funds might add to this burden.

Borrowing money should be utilized as a last resort. Instead of utilizing a credit card to make purchases, look for anything within your budget and pay with cash or a debit card. Try to keep your costs to a minimum and pay off your debts as quickly as feasible.

It is Simpler to Obtain Proof of Income and Apply for Credit Loans

One issue that freelancers have is proving their income when applying for credit loans. In many circumstances, companies will not accept your PayPal balance as proof of income. Paystub generators are one of the simplest ways to demonstrate that you are being paid on a regular basis and that your income is stable and consistent.

When creating a paystub, you can include information such as the date, amount, time spent, and more. This will assist you in demonstrating that you worked for a client and that the payment you received was for work done.

man hand holding credit cards

Make and Stick to a Budget

A budget allows you to stay in charge of your finances and keep track of your expenses. This tracking assists you in identifying and limiting wasteful expenditures so that you can save enough for your long-term goals. It is critical to keep to your budget in order to effectively manage your finances.

Paystubs make it Easier for Everyone to keep Financial Documents Organized

If a client pays you an hourly rate for a specific project, you can generate a paystub to help organize and track financial activities. You’ll still have bills to deal with, but paystub generators are a fantastic way to keep track of the hours you spend on certain tasks.

Paystubs are one of the simplest types of paperwork for freelancing work. Using an online paystub generator, they normally take approximately five minutes to create.

Strive for Balance Rather than Perfection

Being balanced should not require deprivation or simply postponing enjoyment. It is about balancing current consumption with predicted future consumption. While planning for the future is sensible, we must all live in the present now. Buying that tea or cappuccino from a coffee shop, for example, may appear excessive at times, but if it brings peace to your early mornings and hectic days and is not financially burdensome, you should do it.

Rather than Striving for Perfection, Aim for Balance

Balance does not have to imply deprivation or merely deferring delight. It is a matter of balancing current consumption with anticipated future demand. While it is prudent to plan for the future, we must all live in the current now. Purchasing a tea or cappuccino from a coffee shop, for example, may sound extravagant at times, but if it offers tranquility to your early mornings and hectic days and is not financially stressful, you should do it.

Keeping these suggestions in mind will allow you to concentrate on your wants and worries while properly managing your financial future.

Ifama

Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.

Filed Under: Career

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.

Table of Contents

  • 1. Supply Chain Executive
  • 2. Procurement Specialist
  • 3. Chief Operating Officer
  • 4. Production Manager
  • 5. Facilities Manager
  • 6. International Trade Coordinator
  • 7. Supply Chain Analyst
  • 8. Vendor Relationship Manager
  • Conclusion

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

Cargo container ship

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.

ayesha saeed
Ayesha Saeed

A happy mom, professional article writer, SEO practitioner, blogger, guest blogger & freelancer. She’s been in digital marketing since 2018. She loves reading books and spending time with her family.

Filed Under: Career

Why you should Invest your Time in an Alternative Teaching Career

Last Updated on December 7, 2022 By Ifama Leave a Comment

According to Job Outlook, employment for high-school teachers is expected to grow by 5% from 2021 to 2031. While there are still many promising opportunities for those pursuing a traditional teaching career, those looking for more flexibility and unique prospects may want to consider alternative teaching jobs.

Alternative teaching careers provide variety and offer higher pay than traditional teaching jobs. Its positions can range from tutoring, special education instruction, art/music instruction, technology instruction, and more. These jobs can also be part-time, allowing educators to work as much or as little as they desire while making a meaningful impact on students’ lives.

However, opting for an alternative certification program[1] is necessary to be eligible for these jobs.

Table of Contents

  • The Benefits of Alternative Teaching Careers
    • Ability to Make a Real Impact
    • Offers Creative Liberty in the Classroom
    • Opportunity to Work across the Globe
    • Flexible Job Options for Teachers
  • Questions to Ask Before Opting for Teaching
  • Wrapping Up

The Benefits of Alternative Teaching Careers

Teaching can be one of the most challenging professions. For those who are looking for an alternative teaching career, there are many benefits to consider.

Ability to Make a Real Impact

Through positive reinforcement, early childhood teachers can inspire their students to strive for excellence and make a difference in the world.

By providing an engaging learning environment, they are able to nurture creativity, encourage critical thinking, build confidence, teach problem-solving skills, and do much more. These qualities will ultimately stay with the student throughout their educational journey and into adulthood.

This allows teachers to create meaningful relationships with each student that last far beyond graduation day. With these positive experiences in mind, students will be more likely to make lasting positive changes in the world.

Offers Creative Liberty in the Classroom

The field of education also offers a platform for creativity, as teachers can often choose their own style of instruction or develop novel approaches to help students learn. This enables educators to find their niche in the profession, creating an individualized approach that works best for them and their students. In addition, it allows educators to use different technologies and tools to aid in lesson delivery. All in all, teaching provides scope for personalization, which is important when looking for a career with some degree of freedom and autonomy.

For example, literature teachers can design their own syllabi to include novels, plays, and other works of their choosing. Math teachers can create activities that challenge learners while providing an enjoyable learning experience. Science instructors can integrate lab experiments with open-ended questions to promote critical thinking and problem-solving skills.

Opportunity to Work across the Globe

Teaching offers the opportunity to travel and explore different cultures while working abroad. With an in-demand skill set, teachers can find jobs in many countries worldwide. Even if they are not fluent in the language of their new country, most educational institutions will provide language courses or other assistance to help them succeed.

Teaching abroad is a great way to gain valuable international experience and knowledge about different ways of life. It also allows teachers to make a meaningful contribution by helping students learn and grow. Working abroad gives teachers a unique perspective on global issues that can inform their professional lives for years to come.

What’s more, it provides an exciting adventure and cultural immersion, unlike any other job. Teachers may learn more from their students and colleagues. They also gain insights into different ways of teaching, which can help them become better practitioners.

Flexible Job Options for Teachers

Teaching is a job that offers flexibility in its approach and can be tailored to suit the needs of the individual teacher. It allows educators to work around their schedule while still providing students with quality instruction. Teachers can choose to work part-time or full-time and adjust their hours according to personal commitments or other obligations.

teacher and students in class room

Moreover, teaching is an occupation that provides opportunities for professional development and growth – making it an attractive option for those looking for a career with some degree of autonomy.

Questions to Ask Before Opting for Teaching

Becoming a teacher requires dedication and patience. Therefore, people must ask themselves if teaching is the right path for them. Some questions include:

  • Are there certain topics where students can be provided with greater knowledge or expertise?
  • Is learning and helping others learn a passion of theirs?
  • Can an individual stay patient when faced with challenging situations involving students?
  • Will this profession offer stability, growth opportunities, and satisfaction that aligns with the person’s goals?

Answering these questions can help potential educators to reflect on whether teaching is truly the right fit for their career aspirations. Taking the time to reflect on these points will better prepare them for a successful journey in the field of education.

With teaching, it’s essential to have an unwavering commitment and passion for helping others learn and grow. Once all these considerations are taken into account, then people can make an informed decision about pursuing a career as a teacher.

For those looking to start a career in teaching, obtaining an alternative certification for teachers is essential for success. Obtaining this kind of education will provide them with the necessary knowledge and qualifications needed to be successful in the classroom. Additionally, gaining experience through internships or other opportunities can provide valuable insight into what it takes to become an effective teacher.

Wrapping Up

Teachers are the heart of the educational process, and their work is essential for a functioning society. If individuals are thinking about making a change, an alternative teaching career may be the perfect choice for them.

With so many different options available, there’s sure to be something that might fit their skills and interests. People may find that they love working with students in a new way and decide to make teaching their long-term career.

Ifama

Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.

Filed Under: Career, Education

4 Ways MBA can Help Entrepreneurs Achieve Business Goals

Last Updated on December 10, 2022 By Jason Obrien Leave a Comment

To start and grow a business, you need more than just an idea. It doesn’t matter whether you run a traditional business, an innovative startup, or an NGO; your success depends on how you execute your plans. A Master’s in Business Administration (MBA) can help you develop the skills necessary to turn your ideas and goal into a successful business.

However, MBAs may not be the right choice for everyone. The degree is a valuable tool to meet specific career goals only if you know how to take advantage of its perks.

Table of Contents

  • Is an MBA Worth it for Entrepreneurs?
  • Develop Financial Literacy
  • Develop Interpersonal and Negotiation Skills
  • Learn Operations
  • Establish a Network
  • Final Word

Is an MBA Worth it for Entrepreneurs?

MBA programs for budding entrepreneurs can teach them how to start a business, manage it effectively, and turn it into a profitable enterprise. The degree offers many benefits, including skills development, theoretical knowledge, and network building (after graduation, these contacts serve as a resource for the rest of your career).

Being a business owner, you may have asked yourself if an MBA is necessary. If you’re committed and persistent enough to stay with your business for a long time, then the answer is “yes”. 

This business world is full of challenges and financial difficulties. You will always have to overcome hardships. With an MBA, you will be equipped to use the skills and abilities to solve problems and stay persistent.

If you are interested in becoming a successful entrepreneur or have already started your own business, consider getting a Master’s degree in Business Administration. But, if you find yourself constrained by your current business needs, you can also consider taking online MBA accreditation. Throughout the curriculum, students will learn everything a successful business owner needs to know about finance, management, marketing, and operations.

Still, if you aren’t sure whether an MBA will help you reach your business goals, consider the following four broad categories of skills and advantages an MBA can offer.

Develop Financial Literacy

An important contributing factor to the high failure rate of new businesses resides in entrepreneurs’ lack of financial literacy. They may have a great idea but lack marketing skills and budgeting knowledge. In addition, many make the mistake of over-investing, clinging too tightly to the belief that spending money makes money. Others try to grow too fast, expanding their equipment and staff at the first sign of success without considering long-term sustainability.

An MBA provides the foundation for making solid financial decisions in the early stages of a business. Taking classes in entrepreneurship, business finance, and accounting teaches you how to assess risks and opportunities, maximize shareholder value, finance startups, and set prices that maintain profits.

As part of your education, you can also learn how to read financial reports. The accounting course in your curriculum prepares you to produce and analyze income statements, cash flow statements, and balance sheets, allowing you to see the financial health of your business.

Also, you will be able to review famous case studies, gaining valuable insights into successful business methods. It will teach you what works, what doesn’t, and which warning signs to monitor if your company is in trouble.

Although obtaining a general master’s degree is an expensive endeavor, you might save millions by avoiding costly mistakes. And if you’re considering on-campus learning, the school offers a safe environment for testing ideas, allowing you to experiment with different concepts and assess startup costs. You can also ask teachers and peers for feedback, then use it to improve your business plan. Access to these resources is one of the biggest advantages of an MBA program.

Develop Interpersonal and Negotiation Skills

Even if a business is technically profitable, it may fail due to financial reasons. In most cases, failure is not caused by a lack of payments but rather by the failure to push their clients to pay them before expenses are due. To be cooperative business partners, most entrepreneurs accept payment terms that serve their customers’ needs and not those that serve their financial interests. Thus, despite pricing its products for a profit at the end of the year, the company is unable to pay its suppliers in the middle of the year and shuts down.

Inexperienced entrepreneurs tend to accept long payment collection periods because they think they don’t have any other options. The initial years are crucial for a new business, and many entrepreneurs do not want to alienate their customers by setting strict payment terms. However, new ventures cannot survive without timely payments.

MBA

During graduate school, you will learn how important it is to monitor your cash flow and manage your expenses consistently. You will learn how to handle client meetings and communicate your business terms. As opposed to common belief, MBA education combines hard skills with soft skills, enhancing your abilities as a leader, negotiator, and all-around business professional.

Learn Operations

An MBA is an asset for entrepreneurs since it teaches how to run different aspects of a business. Through courses in operations management, logistics, and data analytics, you will gain the knowledge and skills to run your business effectively from the beginning. In the long run, this may impress potential business partners and investors and motivate them to work with you instead of your competitors.

You can start an efficient business right away once you acquire the necessary knowledge from graduate school.

Establish a Network

The graduate school offers many benefits, including the opportunity to make professional connections. Even if you study for your MBA online, it will allow you to build a valuable network of peers, professors, alumni, and invited speakers. Following graduation, these people can be valuable allies, either joining your company or setting you up with clients and investors.

Business networking cannot be overstated. As senior executives aren’t necessarily afraid of risk, they are interested in investing in new ideas and want to collaborate with people who possess sharp minds and determination. Moreover, they will be more inclined to partner with you as they are already aware of your dedication.

Additionally, companies might be more likely to work with you if you went to school with one of their employees, and connections that you made in graduate school may make investing easier.

Alternatively, you might become lifelong business partners with some of your graduate school peers. Countless major companies have grown out of college friendships. Starbucks is the most prominent example, as the coffee chain was founded by college friends. 

As you approach your education with an eye towards networking, you’re sure to graduate with either a business partner or a list of potential clients and colleagues, or even both.

Final Word

Having an MBA opens doors to financial success and social advancement. For those who don’t have the time or money to go to full-time MBA programs, other options exist. For example, a Management Certificate, or accelerated or specialized programs like MBA in leadership and management, are all tailored to the needs of busy executives and professionals who wish to continue business and studies simultaneously.

In conclusion, an MBA helps you optimize your business operations, giving you the insights and tools for long-term success.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Business, Career

Top 5 Reasons to Raise your Children in the City

Last Updated on November 18, 2022 By Ayesha Saeed Leave a Comment

With the birth rate reaching 11 per 1,000 people in the United States, parenting has become one of the most popular trends. Especially during the pandemic, the birth surge has increased the demand for parenting advice.

And among the most advice-sought-after topics is determining where to raise a family. If you’re a parent considering raising your children in the city, you’re not alone. It’s a big decision with many factors to consider, but ultimately it comes down to what you value most. Here are a few advantages of being a parent in the big city.

Table of Contents

  • There are More Opportunities for your Children in the City
  • The City is a Great Place to Meet Other Families
  • The City Offers a Diverse Range of Experiences
  • Cities often have Better Resources for Parents
  • Living in the City can be Convenient for Parents

There are More Opportunities for your Children in the City

No matter what your child is interested in, there are bound to be more opportunities for them to pursue their interests in the city. With the competitive edge of city living, your children will have access to better schools, more extracurricular activities, and a more diverse range of people to interact with.

Cities offer a wealth of options for children to explore their passions, from education and athletics to the arts and beyond. There are also more opportunities for children to get involved in their community and learn about different cultures. The myriad of options can be overwhelming, but that means there’s something for everyone.

And with so many opportunities at their fingertips, your children will find their niche and develop their talents. As a result, they’ll be better-rounded and prepared for the future.

The City is a Great Place to Meet Other Families

If you’re looking for a supportive community of other parents, you’ll find it in the city. Raising children is a big job, and it’s easier to do with the help of others.

The city offers countless opportunities to meet other families through your child’s school, sports teams, extracurricular activities, and more. You can also take advantage of city-specific resources like mother groups, playgroups, and classes designed specifically for parents and their children.

Interaction with other parents is crucial for your mental health and your child’s development. It provides a support system and allows you to share the joys and challenges of parenting with others who understand what you’re going through. This way, you can lean on each other for advice, help, and friendship.

The City Offers a Diverse Range of Experiences

One of the best things about raising your children in the city is that they will have the opportunity to experience various cultures and lifestyles. These are crucial for your child’s development.

Cities are melting pots of different cultures, and your children will have the chance to learn about and experience them first-hand. They’ll also see how people from different backgrounds live and interact with each other. Exposure to this early on will help them develop a more well-rounded world perspective.

Children must learn about and experience different cultures to develop empathy and respect for others. Doing so will prepare them for an increasingly connected world and help them succeed in a global economy.

Cities often have Better Resources for Parents

Cities often have more comprehensive resources for parents than smaller towns or suburbs. Modern living comes with modern benefits, and cities offer a wealth of support for parents. From professional development classes to parenting groups and more, you can find what you need to be the best parent you can be.

family

You’ll also have access to better medical care in the city. With more hospitals and specialists, you can rest assured that you and your children will be well-cared for. The city also offers a wealth of resources for parents who work outside the home. Whether you need daycare, after-school care, or summer camp options, you can find what you’re looking for in the city.

Living in the City can be Convenient for Parents

Having everything you need within proximity can be a significant perk for parents living in the city. From groceries and childcare to entertainment and nightlife, there’s no shortage of conveniences that can make life as a parent easier.

Especially today, many living spaces in the city are well-designed with families in mind. In the Philippines, you can find apartments and condominiums with plenty of room to grow and kid-friendly amenities like playgrounds and pools. What’s more, it’s budget-friendly too. Suppose you’re looking for a living space with proximity to conveniences. In that case, you can look for an affordable condo near C5 for sale that will put you in the city’s scene while still being budget-friendly.

This way, you can have the best of both worlds: a spacious and comfortable home for you and your family, plus the convenience of city living.

So there you have it-five reasons why raising your children in the city can be advantageous for your family. Of course, every family is different, and there is no single answer when choosing where to live. Ultimately, it would be best if you determined what’s best for your family based on your unique needs and preferences. Hopefully, this blog post has given you some food for thought as you weigh your options.

ayesha saeed
Ayesha Saeed

A happy mom, professional article writer, SEO practitioner, blogger, guest blogger & freelancer. She’s been in digital marketing since 2018. She loves reading books and spending time with her family.

Filed Under: Career

Dual Citizenship: A Powerful Tool Leveraged by Wealthy Individuals

Last Updated on September 27, 2022 By Ifama Leave a Comment

There are many benefits to being wealthy. Not only does research suggest that wealthy individuals have a higher quality of life and better health, but they also have access to more excellent opportunities. One such opportunity that many wealthy individuals choose to apply for is dual citizenship. If you want to learn all about dual citizenship and why it is so popular with wealthy individuals, then keep reading below:

Table of Contents

  • What is Dual Citizenship?
  • How Do You Obtain Dual Citizenship?
  • Do All Countries Accept Dual Citizenship?
  • What are the Advantages of Having Dual Citizenship?
  • Are There Any Disadvantages of Having Dual Citizenship?

What is Dual Citizenship?

Most people in the UK have single citizenship status. This means that they reside and have rights in only one country. Dual or multiple citizenship is when a person is accepted in law as a citizen of two or more countries. They have rights in both countries, and they must also fulfil the obligations of both countries.

How Do You Obtain Dual Citizenship?

There are several ways you can obtain dual citizenship. These include:

  • Naturalisation – citizenship is granted to individuals after they have met specific residency requirements. This usually means an individual has to live in a country as a permanent resident for several years.
  • By investment – many countries offer dual citizenship investment schemes. One example of this is the Malta citizenship by investment scheme. This scheme allows you to obtain dual citizenship by investing in Malta.
  • By marriage – while this option isn’t available in all countries, many countries have started offering dual citizenship to people who marry a local citizen.
seats-

Do All Countries Accept Dual Citizenship?

Before applying for dual citizenship, it’s essential to research the country you’re interested in becoming a citizen of. This is because, at present, not all countries allow dual citizenship. Once you have identified a country that accepts dual citizenship, you must determine what requirements you must meet to become a dual citizen. All countries have their own requirements.

What are the Advantages of Having Dual Citizenship?

There are many benefits to having dual nationality. Here are some of the main benefits you can look forward to once you’ve gained dual citizenship:

  • Mobility – one of the main benefits of having dual citizenship is that it allows you to travel visa-free to this destination. This not only saves time and hassle, but it can also save money too.
  • Tax benefits – there are many tax benefits to becoming a dual citizen.  
  • Expand your wealth – in some countries, the income tax burden is so significant that it can be a massive drain on your wealth. Dual citizenship can help reduce your tax, meaning you can expand your wealth.
  • Education – having dual citizenship can help you to create a more prosperous future for your children. This is because it gives you more options over where your children go to school. Having dual citizenship can give them access to the best schools and universities in the world.
  • Improve your quality of life – another great benefit of dual citizenship is that it can help to improve your quality of life. Not only does it give you easy access to other countries around the world, but it also gives you access to world-class healthcare.
  • Safety – many wealthy individuals face negative attitudes toward them because of their high net worth. Having dual citizenship allows you to move yourself and your family to a safe country.
  • Security – one of the best reasons to have dual citizenship is it gives you a safe place to live during instability in a country, for example, if there is war or political unrest in your home country.
moblie-mug-and-papers

Are There Any Disadvantages of Having Dual Citizenship?

While there are many advantages of having dual citizenship, there are also a couple of disadvantages people need to be aware of. These include:

  • Double taxation – you may have to pay taxes in both countries. This depends on which country you choose to become a citizen of.
  • Dual obligations – you will be bound to the laws of both countries

As you can see, dual citizenship is an incredible privilege to have. Not only does it allow you to live abroad, but it also allows you to access certain countries without applying for a visa. These reasons alone make applying for dual citizenship worthwhile. The good news for wealthy individuals is that dual citizenship isn’t challenging to get, as long as you are willing to invest in the country you want to become a citizen of.

Ifama

Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.

Filed Under: Career

Is an MBA in Business Management Worthwhile?

Last Updated on September 17, 2022 By Ifama Leave a Comment

If you have aspirations to be a business professional, you might have considered going back to school for an MBA. In some cases, the company you work for may pay for it. In other cases, you might be considering taking out student loans or paying for it yourself.

MBA programs are typically expensive, but they can offer a lot of value depending on how you use them. The average cost of an MBA program is $66,300. In this guide to graduate diploma in business management, we will explore how it can help your career, and whether or not it’s worth the investment.

Table of Contents

  • What is an MBA Program?
  • Why Get an MBA?
  • The Drawbacks of Getting an MBA
  • Different Types of MBA Programs
  • Endnote

What is an MBA Program?

An MBA is a Master of Business Administration. The degree is typically earned after completing two years of full-time study. During those two years, you’ll take classes on topics like accounting, finance, marketing, and business strategy.

MBA programs often allow students to specialize in a particular area of business. For example, you might choose to specialize in marketing or finance. Some MBA programs take place online, while others require you to attend classes on campus.

These programs typically culminate in a capstone project, which is a research-based project that allows students to apply what they’ve learned in the program to a real-world business problem. In many cases, this capstone project is completed with a team of other students.

Why Get an MBA?

There are a few reasons why people decide to get an MBA. The first reason is that it can give you the opportunity to earn a higher salary. The median base salary for MBA graduates is $105,000, which is significantly higher than the median salary for all workers, which is $47,060.

The second reason people get an MBA is that it can help you get promoted. In many organizations, an MBA is seen as a sign that you’re committed to your career and that you have the skills to be a leader. In some of these cases, your employer may pay for some or all of your MBA program.

chairs-tables-and-persons

If you want to change careers, an MBA program is a good way to do that as well. The degree can help you transition into a new industry or field, such as data analytics, consulting, or healthcare administration. The last reason to get an MBA is that the degree can allow you to start your own business. Many MBA programs include coursework in entrepreneurship and small business management.

The Drawbacks of Getting an MBA

The price is a clear drawback to starting a graduate degree in business management. Especially if your undergraduate student loan debt still burdens you, the last thing you want to do is take on more debt. While there are online education loans available to most students, it is still a significant investment.

The opportunity cost is another potential drawback of getting an MBA. If you’re not careful, it can take you away from your career for two years. That’s two years that you could have been working and earning a salary. Even though the earning potential is higher for MBA graduates, it is certainly possible to make a good salary without an MBA, particularly in sales, marketing, and business operations roles.

Different Types of MBA Programs

There are a few different types of MBA programs to choose from. The first is a full-time program, which requires you to take classes during the day and attend school for two years.

The second type of MBA program is an executive MBA, which is designed for working professionals who want to earn their degree while continuing to work full time. These kinds of programs are great for people who want to earn their MBA but can’t take two years off from work.

students

The third type of MBA program is an online MBA, which allows you to complete your coursework remotely. These programs are more convenient and flexible, but they typically don’t offer the same opportunities to network as on-campus programs.

Endnote

If you’re looking to earn a higher salary, an MBA is certainly worth considering, but if you’re looking to change careers or start your own business, there are other programs or career choices that may be better suited for you.

Additionally, an MBA will certainly give you business management experience, but there are many other ways to gain experience that are more valuable, such as working in management, starting your own business, or working as a consultant.

The bottom line is that you should carefully consider your goals and what you hope to achieve before making the decision to get an MBA in business management. It’s a significant investment, both in terms of time and money, so you want to be sure it’s the right choice for you.

Do your research and talk to people who have gone through the program to get their perspectives. If you’re still not sure, there’s nothing wrong with taking a few classes before committing to the whole degree. That way, you can test the waters and see if an MBA in business management is right for you.

Ifama

Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.

Filed Under: Career, Education

5 Important Aspects Your Resume Should Cover

Last Updated on August 17, 2022 By Jason Obrien Leave a Comment

Including essential resume, sections are crucial to offering prospective employers an in-depth summary of your education, experience, and qualifications. The commonly recommended parts to cover in your resume include a resume profile, contact information, education, skills, and experience. Your resume may stick out against your competitors if you also cover optional sections describing your accomplishments and hobbies.

Every part of the resume plays a vital role and may impact your chances of being considered for an interview. Remember that leaving out crucial aspects in your resume might prevent prospective employers from discovering why you would be the right person for the job. So, if you are searching for job opportunities, here are the top resume aspects you should cover.

Table of Contents

  • Contact Information
  • Resume Summary
  • Professional Experience
  • Skills
  • Education
  • Optional Resume Aspects
  • The Final Say

Contact Information

This section contains your first and last names, email addresses, physical addresses, and phone numbers. Always ensure it’s at the top of your resume. Its objective is to help the hiring manager or recruiting agency quickly know you and how to contact you. If possible, use a bolder and larger font for the contact information section to catch potential employers’ eyes.

Resume Summary

resume

Based on your goals and preference, you might consider including your resume summary, profile, and objectives after the contact information part. Usually, this section helps if you want to define your immediate employment objectives. You can think of a resume summary as an elevator pitch that details your relevant skills, experience, and other essential qualifications.

Professional Experience

Your resume must have the experience section that sum-ups your specific work and experience that applies to the position you are applying for. In this section, include the companies you have worked for, the particular duties you did in that position, and the title you held at every company.

Also, you can include major awards and achievements in previous positions you have held. However, you should only include what you have done in the last 10 to 15 years if you have held several positions. As a recent graduate, you can consist of summer jobs and internships. Also, utilize free resume templates so that you can come up with a professional-looking resume.

Skills

In this part, you should cover specific skills that apply to the job you are applying for. Irrespective of your experience, always remember to include this section in your curriculum vitae. Include a mix of soft and hard skills and marketable abilities to show your prospective employers that you are a well-rounded and dynamic candidate.

Hard skills often comprise the technical skills acquired through education, training, and hands-on experience. On the other hand, soft skills usually contain people skills and personality traits.

Education

This section is also crucial for your resume, as it outlines your academic achievements, educational background, and any awards you have received. The information you add to this section depends on your experience and the degrees you have acquired. For instance, if you have just graduated from the university, this section should be comprehensive and have all the relevant information that applies to the job you need.

Optional Resume Aspects

Now that you know the essential parts of your resume, it’s worth knowing the optional components to include to stand out against worthy candidates. These additional parts to add to your resume have awards/ achievements, language skills, community service, hobbies, and interests.

The Final Say

A resume informs the hiring company about your skills, experiences, and work history. Thus, use it to highlight details that show you are qualified for the position, are a good employee, and have the necessary skills to progress in the company.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Career

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