Why Get a PhD in Business Management?
Before you get to earn your Business Management PhD, you have to spend a lot of years doing research and hard work. Dedication in your field is also needed in order for you to earn your doctorate degree. Unfortunately, not everyone can get a PhD especially in Management. Some do not have enough time while others lack financial support. Thus, they prefer to be employed rather than gaining more understanding on their field and get a PhD.There is a vast range of work-related benefits if a person holds a Business Management PhD title. One of the main reasons why some people are so determine to be a PhD degree holder is because they want to land on the job that they have been dreaming of. There are a lot of companies that prefer people with PhD to work for them. You can have numerous employment options such as a business researcher and a college professor as well.Without a doubt, those who have PhD in Business Management can also have a better start once employed. Compared to those who only have bachelor’s degree, they can immediately get higher pay even if this is their first job. And although a master’s degree can also put you a step ahead of the other job seekers related to business administration and management, you have bigger chances of being employed in the company of your dreams if you have PhD.It may consume a lot of your time and money. But once you have earned your Business Management PhD, everything will be all worth it especially when cash starts to come in because you landed a good position in a company. If you have the brains, the determination, and the money to continue a doctorate degree then don’t hesitate to gain more knowledge and understanding in your chosen field.
7 Ways to Expand Your Online Business
So you just started your online business, congratulations! But you’re not yet sure of how to expand them. Here are 7 ways to help you. Read and be motivated!1. Consider opening another location. This may not be a great choice for expanding internet business. But according to business consultant and writer Frances McGukin, opening another location for your online business is just the same thing as traditional business. Moreover, McGukin recommends online-based business owners to:
Look closely at the trends (both consumer and economic-based) to indicate the staying power of your business.
Ensure that the management team (including its administrative systems) is extraordinary in setting a location before keeping it running.
Maintain the “bottom-line” profits that have been steady for the first 2 – 3 years of the business.
Determine how and where you’ll obtain your finances.
Set up a separate business plan for the new location.
2. License your offers. This may be a low-cost medium for many online businesses. According to Larry Bennett, head director of the International Center for Entrepreneurship Studies at Johnson & Wales University, these businesses can receive upfront royalties and dues from consistent sales or software use through licensing. This helps control the risks of losing product or service control.3. Sign a government contract. Rep. Nydia Velazquez of the Democratic Party wrote in her August 2003 article the importance of getting the approval of the federal government in expanding an online-based business. Coordinate with your local SDBC and SBA offices before signing a government contract. The US Chamber of Commerce offers a special matchmaking program for small or online-based entrepreneurs.4. Target other people. Your present market is serving you well, and that’s understandable. But McGukin suggests that having multiple markets is an advantage in expanding your business online. Think about it! If your market ranges from young adults to professionals, chances are you’ll be able to earn over hundreds (or even thousands) of bucks and make a name in the online business realm. Sponsor speaking events, entrepreneurship programs and other offerings that can generate a multitude of revenue streams to your business.5. Place your business website in search engines. According to SEO expert Sally Falkow, 85% of traffic comes from Google and Yahoo. Falkow adds that as of June 2011, about five billion business and traffic doubles every 200 days, making the visibility of these sites crucial to the needs of people.6. Expand your business globally. FatWire is among the few online-based businesses that successfully expanded its services to over 60 countries. Since then, the company has already established offices in Italy, France, Holland, Spain, United Kingdom, Singapore, Japan and China. To expand the business outside of your country, you need a foreign distributor who will carry the inventory of your product or service to resell them in your target domestic markets.7. Merge with other online businesses. It’s an advantage if the business you chose to join forces with is also up for expansion.