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A basic understanding of the various tools and concepts of business can help professionals succeed in their careers. The basic understanding can also help them feel more comfortable in their work environment. Having the right business skills can make or break your success.  

Data Analysis

According to studies, many companies use analytics to improve their operations and grow their businesses. Some of these include Microsoft, Amazon, and Uber. LinkedIn says analytical thinking is a highly sought-after skill in today’s job market.

Through an analytical course, participants can develop a framework for addressing complex business problems. It can also help them make informed decisions and improve their performance.

According to Jan Hammond, a professor at Harvard Business School, using data analytics can help influence an organization. He said that if individuals have the necessary data to support their arguments and recommendations, they can significantly affect the discussion.

Economics

A basic understanding of economics can help professionals to help them develop a toolkit for their company. Nicholas Grecco, a former participant of CORe, said that the lessons in Economics for Managers helped his organization make an informed decision regarding the purchase of solar energy.

Although he knew that solar energy was a good investment, the WTS helped him understand the various factors that affect the decision-making process. According to him, the city’s group purchasing power and the incentives provided by the city program helped electrical contractors lower their prices and increase their consumer surplus.

Accounting 

Even if you’re not a numbers-focused individual, a basic understanding of accounting can benefit your career. It can additionally help you feel more comfortable working with money and numbers. 

Understanding profitability and cash flow concepts can help you understand an organization’s potential and performance. Having the necessary skills to interpret and interpret a balance sheet can also help you communicate financial results.

Engineer Pankaj Prashant, who took the CORe course, said that the lessons in Financial Accounting helped him develop his technical skills and improve his career. Through the course, Prashant could keep track of his company’s annual reports and has gained a deeper understanding of its future operations. He also started investing in multiple companies. 

Negotiation

Whether you’re starting your career or a senior-level professional, having the necessary skills to negotiate is very important. The World Economic Forum said this discipline is one of the top 10 skills employers need to develop in their workforce.

Having the necessary skills to negotiate can help you secure a better deal for your company and yourself. This skill can also help you advocate for a higher starting salary. One of the essential factors you should consider when negotiating is the type of strategy you want to adopt. According to Mike Wheeler, a professor of negotiation at HBS, the key to successful negotiation is to be open to new ideas and to think on your feet.

Although you may see yourself as a negotiator, Wheeler says that most people you deal with have varying styles. To succeed, however, you must be agile. This means developing different skills for each situation and the person you’re dealing with.