The Basics of Business Education - What Business Students Should Study
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- Опубликовано: 26 июн 2024
- Presentation at Dong-A University that every business student in the world should watch. What a business education is about. What a business student should study and learn. Common problems and mistakes in business programs. Common mistakes that students make.
HI just want to share the notes I took, hopefully this helps.
What will be discussed:
1. Foundation courses you should study
2. Business core courses
3. Business specializations
4. Business extensions
5. Education problems [How and Why business programs fail]
6. Conclusion
There is a difference between Global Business and Global Studies.
- Global Business is a small field in global studies.
- Global Studies include:
- Politics
- Law
- Culture
- Anthropology
There are two areas you need in terms of understanding the basics of Business.
Quantitative methods:
1. Business Math
a. Statistics (Analyzing and Interpreting data)
e.g. Economics growth can be related to investment, consumption, export.
2. Economics
Economics is divided into 15 different fields.
Basic introduction to Economics includes two fields.
1. Micro-economics
Behavior of individuals:
- Consumers
- Families
How Individuals make economic discussions (spending money, making money.)
2. Macro-economics
Deals with general income.
General economics is an out production and output.
GDP-Gros domestic Production
- Labor
- Wage
- Interest Rates
- Coast of capital
- Inputs and Outputs
Most important price in the economy is the price of money.
The price of money is also called the exchange rate.
Four Main Fields of Business:
1. Accounting
2. Finances
3. Marketing
4. Management
1. Accounting:
Accounting helps us translate business activity into numbers.
There are two areas of accounting
- Financial accounting
- Managerial Accounting.
Financial Accounting:
Financial accounting is about how you make the accounts and how you report them.
You report them with financial statements.
People outside the company can understand how the company is doing by reading these financial statements.
The financial statements are standardized all around the world.
Managerial Accounting:
Accounting designed to serve the needs of management, so the management can make decisions.
There are the internal reports.
Decisions like how to price a product, how much to produce will be taken from these reports.
There include various budgets.
2. Finance:
Finance is about how you manage money.
Financial management is about how you manage assets, liabilities, and investments.
How you get money
- Borrowing
- Selling
- Bonds
- Selling stocks etc.
3. Marketing:
Marketing is about the customers.
What the customers want what they will be willing to pay.
What the costumers want in a product.
You need to think about competitors and customer service.
Advertising - making the customers like, want, and business the product.
4. Management:
Personal Management (Managing employees and people)
Planning, organizing (What departments do we need);
Leadership (How to manage and motivate people to do your work);
Control (how do you monitor and make sure that employees are going to do
their jobs)
After you are done with core courses, you will get to do;
1. Strategic management:
Requires understanding from all four core areas.
It deals with how you are going to compere in the market.
You can com[ere on the basis of:
- Efficiency
- Price
- Better product,
- Verity of products
- How you innovate the product
2. Business Specializations:
- Finances
- 1. Financial Investments
- 2. Financial Economics
- 3. Investments
- 4. Risk management (Insurance)
- 5. Financial Derivatives
- Amounting
- 1. Introductory Accounting
- 2. Intermediate Financial Accounting
- 3. Cost Accounting (Expenses only)
- 4. Auditing Accounting (Checking for any falsification)
- 5. Non-Profit Accounting (Institutions)
- 5. Government (Institution)
- Marketing
- 1. Advertising
- 2. Sales
- 3. Product Design
- 4. Marketing Management
- 5. Other Marketing
- Management
- 1. Personal Management
- 2. Inventory Management
- 3. Marketing Management
- 4. Supply Chain Management (Operation Management
- 5. Other Management
Alternative Specialization
- International Business/ Global Business
- 1. International Economics (Trade & Finance)
- 2. International Accounting
- 3. International Finance
- 4. International Marketing
- 5. International Management
- (OPTIONAL) 6. International Law
Business extensions:
1. Programming Language (Especially a statistical programming language)
2. Database Systems
3. Management Information Systems (MIS)
4. Web (Internet) Systems
5. Law Extension
- Business Law
- Contract Law
- International Law
6. General Language
- English
- Chinese
- Japanese
- Arabic
Conclusion:
International
- Quantitive (Business math) (Statistics)
- Statistical packages
- Statistical Programming
Economics
- Micro Economics
- Macro Economics
- International Economics (Finance &Trade)
Accounting
- Financial Accounting
- Managerial Accounting
- International Accounting
Finance
- Financial Management 1
- Investments
- International finance
Marketing
- Marketing 1
- Advertising/ Marketing 2
- International Marketing
Management
- Management 1
- Personnel Management / Management 2
- International Management
Other
- MIS
- Business Law
- International Law
Problems with Education
Problem with the Institution:
1. Week Foundation (Study to pass and then forget [Study Flush])
2. Manny fancy courses with not much content
3. Few course chapters
4. To many projects (learning dose not happen properly)
5. Heavy-Weighed projects
6. Poor/easy exams
7. Few failing students
Problems with students:
1. Memorizing
2. Study from Power Point
3. Not reading textbooks
4. Not enough practice exercise
5. Big group exercise
6. Group free-riding
7. Too much fun/party/internet/Social Media
8. Study for grades only
9. Study to make parent happy
My Summery:
For studying business you should:
*In Order*
- Math Basics of math is Core Value
1. Economics (Core)
2. Accounting (Core)
3. Marketing or management (Core)
4. Management or marketing (Core)
5. Strategic management (Most Important after core)
6. 1 OF 6 Specializations
7. Business Extension (OPTIONAL but helpful)
Business studies should not be easy.
*10 chapters should be thought per semester*
*15 chapters per semester are better*
THERE ARE PLENTY OF JOBS.
JOBS ARE ONLY AVAILABLE FOR THE SKILLED PEOPLE.
Thank you so much💪
Thank you!
Thanks
Dude literally just copied from another comment that was made 3 years ago
@@wizdom4206 but at least it is helping
Such a respectable teacher. I admire his passion for passing knowledge. He also explains everything so well, in a very comprehensive way 🥺🥺
Fr
Pls. Don't stop posting sir. Your videos are helping a lot of students around the world.
Thank you so much.
Thank You. I will continue posting as soon as I get a good teaching position somewhere. Right now I am looking.
Come to Mehran University Institute Of Science Technology and Development (MUISTD) for MBA program.
Contact Dr. Bhutto Professor at Mehran University Institute of Science Technoolgy and Development (MUISTD).
Yes really his way amazing.. 😍👍
I wantta study with him .. I like his way reaching the information.
I started two Businesses, one in the fashion industry and the other is in the logistics sector. Thank You for helping me sharpen and refine my business skills.
How’s logistics going today?
Im glad that professor Petrov can influence people all across the globe, please keep posting videos so we can learn from one of the last great teachers of the old generation Bulgarian professors
I'm a science student but, the prof has made it very clear with his wonderful skills and experiences!
Здравейте, господин Петров! Вашите лекции много ми помагат в ученето. В момента съм първа година с международен бизнес в Холандия. Благодаря Ви за подробните обяснения и ведрия тон, с който говорите!
One of the best professors
Thanks to youtube and Dr. Petrov I don't need MBA.
Thank you.
The only thing I understand in accounting is that I work, bills are paid kids are fed rent means a roof over you and your family's head, clothes on your back and now my checking account says I have $95.00 left! Did I forget the fuel??? Be right back.....
Very usefull, this channel was inspiration for our channel .
I currently studying business law and utilizing thirteenth edition Business Law text and cases.Great language.
I'm an engineer and a complete beginner in business studies but I understood this lecture very well. The way he explains, I don't think even a high school teacher can match his simple and clear explanation.. Thanks a lot professor..!!
Harish, you may be surprised but there are very few professors in the world who can explain like this. For high school teachers this is simply impossible.
One of the best professors
His lectures was fantastic
It is like I am learning subject in detail...Enough, best lecture I had ever heard
OMG! In 15 minutes I have learnt more than in 4 years at the University
Yes, this is perfectly normal. Most universities today do not mean and do not intend to educate, they just collect money from students and print diplomas, i.e. most universities today function as "diploma mills" quite well.
@@kmpetrov How can we tell which universities actually intend to educate? I heard you talk quite a bit about Thailand in this video, do you have any knowledge about the Int'l Business School program at Chulalongkorn Uni?
True
Can you tell me which universities offer BBA Finance in USA and UK.@@kmpetrov
So I’m getting ready to go to college for business so I decided to watch this video this guy is a great professor 😌 I’ve learn a lot from this video! 😇
Which universities offer BBA Finance in USA and UK
Absolutely brilliant class! Being from a non-business or non-enterprise background I too was able to understand his pace, and his teaching. 🎉🎉 kudos, we need more such Teachers in every field.
This for me is kind of important and useful video in order to make self-study. Thanks to this professor for his lecture
You are welcome.
Well one of the first times I’ve heard somebody actually say something that is accurate I love watching this video it opened up my eyes to so many things it’s so amazing
I'd give you an Oscar for your Teaching Skills Professor Petrov!!! Thank you for All The Content you've uploaded! You're clearly A Genius, and a well Presented One.
I was medical student and then I switched to study business but sadly I don’t even know basics of business but the sir has taught everything I need to learn he is brilliant teacher kudos to him 😊
how does it feel to switch majors tho? i am engineering graduate but i’m looking for business/management studies for postgrad studies
Absolutely the best
Since my school days I've had only 3 teachers who teaches with love and patience,now u are my number 4
Thanks so much for ur time I really enjoyed it and I am now interested in BUSINESS CLASS
you guys are lucky because of having a good professor. Then, every single information that he has spoken is valuable. He pointed out what is going on in most university. Then, explained the real way to become an eligible and well rounded students. Thanks you guys for uploading and sharing this video with us. I clicked like and subscribed.
Thanks you for sharing your thoughtful content for putting it out there with the passion that many of us need and strive for. I'm starting to listen to you almost every morning. Your voice and words are calming, clarifying, uplifting and motivating. It feels real and genuine. I am grateful to have your channels as a source for having a better relationship with myself and the world around me?
The power for creating a better future is contained in the present moment, you create a good future by creating a good present. The key to financial freedom and great wealth is a person's ability to convert earned income into passive income to build generational wealth, this trick has never failed
Some people are really ignorant of the profitability in Trading. And that has been the major issues limiting their investment?
@@rubylewis5179 Purchasing Bitcoin doesn't always assures winning, the ability to make profit off your capital is what makes you win... Stop relying on the market price to make profit choose trading.
@cindyconrad641 the wisest thing that should be on everyone's mind currently should be trading in different streams of income that doesn't depend on government, especially with the current economic crisis around the world?
@@Paulpoling I think trading is easier with proper guidance, especially from a professional. It really helps reduce the chance of running into losses. And it incurs profits also?
I graduated with a bachelor degree in Business Administration, and the project part is soo true, A LOT of grades on project and we actully only focused on finishing all the projects on time, but didn't learn a lot from it.
Thank youu❤
I prefer watching this channel youtube than I go to the university to learn this course. what amazing this course! thanks for sharing professor. warm regards from Indonesia
This is an amazing lecture. Professor most students do not learn because there is no such vibrant and informative introduction. I have learnt a lot to motivate students if I get a teaching Job.
i have really enjoy ur lecture. i am think of doing my masters in Administration and ur lecture has given a good heart to enter without panic, because my first degree was BA. THANKS SO MUCH
Thank You.
Hows the BA working out?
Best overview lecture on Business Education and Issues. Thanks a lot Sir. Keep creating and uploading more lectures like these. Thanks again.
my absolute favorite video on this world, all of my interests shown in one video, from core to business extensions, this would be the dream education for me.
Very informative... especially the section on problems with education. Converting knowledge into skill has always been a challenge for students and having taught myself, I have seen this is a common mistake students make... learn by rote, then as you say ‘flush it down the toilet’ Excellent lecture thank you
This is the only video which tells about the basics. I'm currently doing engineering and will be doing MBA after 2 years so i can prepare myself before stepping in this completely new field and be the best among the good. Thank You so much sir :)
Great
He was very specific at all given field of business eduction…Thanks for the lecture.
Thank you so much sir. I am doing another business work. I am Reading it now in the book of today business but your explanations is so understanding, expecially the one that you talked about global business. Another brave professor with sound explanations. The economy decision in my own understanding is howPeople make decision about how they will spend their money. God thank You so much to see this lovely video. I dont. Know how I see this video when i am tired to read my book.God just choose make me see this great explanation.
You're the best teacher in the world 🌍🔥. You make us acknowledgeable about business administration and give us the strength urge to become businessman .
God bless you for your great job
Speechless!!! He inspired me to continue my studies despite I’m very ill of fractured dislocated bones from mortal accident. I’m waiting my intense treatments , second surgeries. Good luck to all students. Be good students like Prof❤️❤️❤️
Online classes really help, if anything
hope to have this kind of Professor in my whole journey in college. I can surely say that he is so good at teaching, I have learned a lot from this lecture of him. He has a good and effective teaching skills .
Same here! Great teaching skills. He explains where I can fully understand.
I am studying BBA in one of the finest universities of India. i have learnt the most from this channel and the amazing videos thank you so much the nice and super useful lectures
Wow! The professor discussed the lesson very clearly. ♡ Excellent ! ♡♡♡
Thanks for posting this video. God bless you more. ♡
You deserve an award best professor, hope I will enjoy my business administration studies in few coming months I can't wait.
hi Lucky Moonga, when you start your BA studies, link with me for more help. nishyleah@gmail.com
@@isaacmweresa2093 actually added up doing biomedical science im in my first year now
One of the best teacher. He made me watch such big video with ease.
Sir, you are such an amazing teacher, and it hit the spot about Asian parents and Asian students not asking questions. I was that student. Wish I found you earlier in my learning life.
Muchas gracias por éste vídeo, lamento que los estudiantes no valoren a este señor, de verdad que admiré cada palabra, comprendí y claro que quiero ser esa estudiante excelente que tiene el potencial al momento de graduarse, y bueno ahora entiendo la educación financiera, thanks.
I love the ways you teach and appreciate your knowledge!!!
am convinced i should study business. thank you for the great video Professor Petrov,.
I am a business student from Pakistan. Thank you so much for this great talk.
express my deep thanks to this professor and the person sharing this valuable video.
This is phenomenal! I’m going to watch all his videos. Thank you!
Sir, u are amazing teacher
Thank u for dis wonderful
lecture
Thank you sir
Thank you so much! I wish I watched the video in 2015 before starting my Management degree... I've graduated this year and realize how ineffectively my time was used, my head is almost empty!!
I will fill the blank spots on my own now using you guidance. Wish you all the best!
Management degree is valuable assets
It's incredible how this accurately reflects the curriculum I've experienced at my university!
Professor is very good not only at teaching also at speaking clearly to understand the basic students 💙💙
Absolutely Loved The Video I Understand Deeply Of Basic Business #FutureEntrepreneur ‼️‼️
I appreciate the great teacher. What a strategy to deliver a clear basic knowledge! Being science student, I couldn't but learn about business. Thank you, sir.
Omg, i enjoyed the discussion,. Now i know understanding is more important than memorising.
Love you much Sir, don't stop posting lectures. You are inspiring!)
The Eastern European princip of teaching is absolutely not boring. Great job. Please keep uploading more lectures
I agree!
Totally.
What a Man!! Thanks very much professor!! Stunning!!
great video with extraordinary leading voice @Super_Teacher
One of the best teacher who i wondered ever. I understood every theme in that video thank you 👏👏.pls post more videos about economics and money
1.5x speed. thank me later
Thank you
I like 1.75 speed..lol
😊C 😊 v😊 😊 😊 😊 😊 😊 😊😊 😊 😊😊😊 😊😊 😊 😊😊 😊 😊 😊 😊 😊😊 😊 😊 😊😊😊 😊😊 😊😊 😊 😊 😊😊 😊 😊 😊😊 😊you. and. 😊😊 😊😊you 😊 😊😊 😊😊 😊 😊 😊😊😊 😊 😊 😊😊😊 😊 😊 😊😊 😊 😊😊 😊 😊 😊 your 😊😊😊 the. 😊 😊😊😊😊😊 😊 😊😊😊 😊😊 😊 😊 😊😊 😊 😊 😊😊 😊😊😊 your 😊country. 😊 😊 😊😊😊😊 😊 is 😊😊uuuu inuu. 😊 😊 😊 😊 😊😊 😊 😊😊 😊 has 😊😊to 😊😊 😊 😊 😊😊😊 😊in 😊 😊😊😊 😊la the . 😊😊 the 😊last 😊 😊😊 a 😊couple. 😊 😊 a 😊 😊 😊 😊😊 😊 uujuuu😊😊 😊 😊 😊😊😊😊😊is 😊u 😊😊😊 😊 u😊 us. 😊 😊 😊 😊 uuuuuuuu and. And
2x and thank you latee
Y’all hush
I was looking for that video from a very long time. Very concise and helpful.
I love the way he explained everything.
The voice modulation is fabulous, I'm definitely gonna practice this I'm my classes.
I really wish for his good health.
Namaste 🙏
Thanks Mr Proffesor for this great and clear way to explain and a so good thing you use is to mencion bad things we all have did just for study quikcly.
thank you so much for your share knowledge, it is incredible. thank for all.
I would love to have a business prof who explains like him. Mine explain like i already know what they are talking about. That's my first year and I'm scared because i haven't studied business before
May be I can come to teach at your university. Which one is it?
i am willing to help you shadykipp@gmail.com
Krassimir Petrov sir, would you consider to come to Australia and teach at my school? (The University of Melbourne, bachelor of commerce programme)
@@kmpetrov come to Hungary and teach us in University of Debrecen
same for me i changed my studies from sience and technology to business and now im so scard its like a new world to me
That explained me better what business studies are than my 3 years actual business studies.
Thanks for explaining ,I'm just 14 yrs old but I can't wait to go to college..I hope I have a professor like you when I go to college
Great video! This should be a orientation for all schools. So that new students get an idea of what they want to do.
Really appreciate your teaching Sir. Help me a lot in my Masteral.
Wow!! Very informative... Thanks for sharing.
found a interest in business, wanted to learn more about the major so I can prepare, definitely found alot of useful tips/ explanations here. Thank You!
I learned the birds-eye view of the business for free because of this video. Thanks
wish the camera person would show the whole screen# please
Cameraman can't always think like the typical user.
Krassimir Petrov Cameramen must be a wedding photographer, he focused more on person than the content.
We didn’t pay for the class, be kind this man gave us this free information.
@@kmpetrov Sign of a bad cameraman then
Camera wont let us learn propely
I haven't learned about business before. I learned a lot from your lecture.
Thank you, Dr. Krassimir Petrov.
The way of the introducing is perfect and you’ve an excellent explanation, slow , quiet and clear
Very fascinating presentation. My sincere congratulations to Professor Krassimir. I am from the Democratic Republic of Congo. Let me tell you that we need such professors as we are from countries where English is a foreign language. I would like to know whether Professor Krassimir will be one of my professor at the University of the People. Excellent Professor!
It would be great if you could upload the principles of Marketing and some other Marketing related content, it's the only missing field in your channel. You're really a good teacher!
Sir, you're doing more than you needed & i love the fact that you've taken the initiative to spread the rich knowledge to everyone for free. Huge respect sir 🖤
I'm learning alot with your videos recently and i hope you keep doing the same. Loves the way you teach, it's simple to understand and fun 😌
Kudos 💫 👍
Thank you so much professor. You look much different than in few years
I have never absorbed information from someone so well!
Camera person: *ignores slides* 🥲
Yes,
It's sad how little the students value his experience and knowledge by not bothering to ask questions.
Depending on the lecturer, some of them they don't allow you as a student to ask questions during the presentation on their videos, thanks.
yes
He's very thorough.
Talented lecturer. Inspiration. Thanks
Love it the teacher is great so much information taken from here more posts please 👍🏽🙏🏽
Thank you so much I'm getting ready to start self teaching myself about business. This helped me to know where to start. I wanted to self teach until I can afford to go to college.
I am glad that I can help.
so what
How is your self-teaching going?
What a professor! Well educated Prof. Thanks for your smooth course Prof.
I think you are the best lecturer that i have seen yet..
Many many thanks Dr. Petrov, your courses are too helpful to me
This lecture wasn’t boring at all...amazing lecture! Thank you!
Dear Mr Lee 😸❤️😘😘😘 the best place to live with the ml5 however
I would love to see a discussion/interview from this teacher on the Labor theory of Value.
Thank you so much for your kindly help and support.
You are really unique lecturer.
I adore you really.
You are really great at teaching.
Hopefully, you will make a lot more videos online inthe upcoming episodes.
Inshallah.
I found you in accidentally, I adore you all at once
He is so good, basically everything he said is real, factual and true
Sir it was really informative and easy to understand and you know the art of teaching incredibly good
Very useful overview -- thank you! It would also be interesting to hear a little about cultural considerations, particularly with respect to Management. Given your experience of teaching in several diverse cultures, I would be very interested in your insights.
You earned a subscriber.
Good sir I am a new student undecided major
I was told to start in basics of finance which then
another counselor said its better if I start in Business Administration
and so far it has what I am interested in--you are a BIG help!
I am glad that I was helpful. You can find in my channel over 500 lecture in business and finance in over 15 different courses.
Excellent roadmap for business education, thank you sir
As a Business Student I really like to read my finance books😁
ruclips.net/channel/UCo2G4PlmYkRrrAP7wqEZZ3g
Business studies - class 12 commerce videos
Damn! This man gave me what I have been looking for months
Thank you , your great Prof for Business Studies
Such an amazing professor ..please keep going
Best lecture and sir would you plz upload your lecture on International Financial Management..
+love S and I I have not yet taught this course. I will upload it when I teach it and record it.
He is the best professor in business management course. When I tried to do minor in business about 2 years ago, I could not understand anything, and could not seek help. I quitted that minor and stayed in liberal arts major. But, after watching this video, I got little bit motivated to study business again.
you're joking right?
10:34 "NEXT! if you study or when you study business, you study four main areas, we can also call them four main fields, or four main subjects". Literally more than half of what comes out of his mouth is redundant and does not serve anything to the premise, its such a pain to listen to a professor like this, and I'm currently listening to him with x1.5 playback speed.
@@roye6961 With the kind of comment you made, I suspect that you have a difficult time retaining information, useful or otherwise.
@@difficulttofindauniqueusername I have a difficult time listening to mumblers, or people who repeat the same sentence over and over again
@@difficulttofindauniqueusername you really call this information? I feel sorry for you. What hes "teaching" here is common knowldedge, hes just twisting it and stretching it to make it academic, total waste of time
I am a student at the University of Houston studying Marketing in C.T Bauer College of Business and this is exactly how they have their classes set up!
He explains so clear, it's easy to understand.