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Contemporary Topics In Business And Management (BUS601) Assignment Sample SUSS Singapore

BUS601 is a series of workshops offered by the School for Business for twelve months. These workshops provide contemporary knowledge in business management and innovative models to support growth, as well as help participants keep pace with future economic developments that will impact their businesses or company strategy plans – providing them with relevant information about how best to prepare themselves so they can strategize successfully against potential competition while managing costs at all stages. The workshops culminate in a final BUS601 Strategic Management and Planning retreat where participants get to learn how to develop and implement an evidence-based strategic plan for their business.

The first BUS601 workshop series is focused on developing Business Models and takes participants through the process of identifying, evaluating and selecting the right business model for their company or venture. They will learn how to assess the risks and opportunities associated with different business models, and how to select the one that best suits their company’s strengths, weaknesses, resources and objectives. The workshop series also provides an introduction to the principles of Business Process Management, and how to use these principles to improve efficiency and effectiveness within the company.

The second BUS601 workshop series is focused on Strategic Planning and helps participants develop the skills and knowledge necessary to create an effective strategic plan for their business. They will learn how to conduct a SWOT Analysis, how to set business goals and objectives, and how to select and implement the right strategies to achieve these goals. They will also learn how to monitor and evaluate their progress, and make necessary adjustments to their plan as required.

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BUS601 Get solutions for your contemporary topics in business management. You can get answers to your questions with our help. Our online tutors are available 24/7 to provide you with assignment help services. Business management is the process through which a company gets its employees to produce the desired results.

It includes planning, organizing, directing, and controlling the company’s resources to achieve the objectives set by management. Business management is a very broad field that can be divided into several smaller sub-fields, such as human resources management, financial management, marketing management, and production management.

Assignment Task 1: Develop an understanding of contemporary knowledge in management

To understand contemporary knowledge in management, one must first understand what management is. Management is the process of planning, directing, and coordinating the work of an organization or group to achieve a common goal. It involves setting goals and objectives, developing plans to achieve those goals, and then implementing and monitoring progress towards those goals.

There are essentially two types of contemporary knowledge in management: academic theory and practitioner experience. Academic theory comes from researchers who study management principles and practices and try to develop models or concepts that explain how they work. This type of knowledge is important because it helps us to understand the general principles underlying successful management practices. However, it can be difficult to translate this theoretical knowledge into real-world applications.

Practitioner experience, on the other hand, comes from people who have worked in management positions and have firsthand knowledge of what does and doesn’t work in real-world organizations. This type of knowledge is important because it can help us to apply theoretical concepts to real-world situations.

Assignment Task 2: Appraise the implementation of marketing strategies on the digital platform

Marketing strategies on the digital platform have become increasingly important in recent years. With so many people using the internet for everything from news and entertainment to buying products and services, businesses need to have a strong online presence.

That said, marketing on the digital platform can be tricky. There are a lot of different platforms and channels to choose from, and each one requires a different approach. businesses need to make sure they’re using the right channels to reach their target audience, and that they’re creating content that is relevant and engaging.

Marketing on the digital platform can be very successful if done correctly, but it takes time and effort to get it right. businesses need to be patient and experiment with different strategies to see what works best for them. With a little trial and error, they can find the perfect formula for reaching and engaging their target audience.

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Assignment Task 3: Identify opportunities and leverage the shared economy

The sharing economy is a great way to find new opportunities and leverage the resources of others. By collaborating with others, you can get access to things that you wouldn’t be able to get access to on your own. You can also save money and time by using the resources of others.

There are many different ways to take advantage of the sharing economy. Here are a few examples:

  • Share your car: Some many websites and apps allow you to share your car with others. This is a great way to make money and to reduce your carbon footprint.
  • Share your home: Some many websites and apps allow you to share your home with others. This is a great way to save money on rent and to meet new people.
  • Share your skills: Some many websites and apps allow you to share your skills with others. This is a great way to make money and help others.

Assignment Task 4: Critique how data analytics can be employed in businesses

Data analytics can be employed in businesses in several ways. For example, analysts can use data to identify trends and customer needs, optimize marketing campaigns, track sales performance, monitor website traffic, and more. In addition, analysts may also help businesses make better decisions by providing unbiased insights based on data.

There are a few things to keep in mind when employing data analytics within a business. 

First, it is important to ensure that the data being used is of high quality. This means that the data should be accurate, error-free, and relevant to the business’s goals.

Second, analysts should have a strong understanding of statistical methods and modelling techniques to properly interpret the data.

Finally, businesses should establish clear goals and objectives for their data analytics initiatives to ensure that the effort is focused and effective.

When used correctly, data analytics can be a powerful tool for businesses of all sizes. By leveraging data, businesses can gain valuable insights into their customers, operations, and more. When employed properly, data analytics can help businesses optimize their marketing campaigns, track their sales performance, monitor their website traffic, and make better decisions.

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Assignment Task 5: Evaluate innovative business models for application in businesses

Several innovative business models could be applied to businesses. Some of these models include the sharing economy, which encourages people to share resources instead of owning them; the experience economy, which focuses on providing unique and memorable experiences for customers; and the subscription economy, which allows customers to pay for access to products or services rather than purchasing them outright.

Each of these business models has its advantages and disadvantages, and it’s important to evaluate each one carefully before deciding whether or not it would be a good fit for your company. For example, the sharing economy can be a great way to save money on resources like office space or equipment, but it can also be difficult to manage and may not be suitable for all businesses.

The experience economy can be a great way to create loyalty among customers, but it can be expensive to implement and may not be suitable for all businesses. The subscription economy can be a great way to provide customers with flexible access to products and services, but it can also be difficult to manage and may not be suitable for all businesses.

Assignment Task 6: Examine the impact of the Fourth Industrial Revolution on businesses

The Fourth Industrial Revolution is already having a huge impact on businesses, and it’s only going to become more pervasive in the coming years. Here are some of the ways that businesses are being affected:

  1. The rise of automation and artificial intelligence is causing many jobs to be replaced by machines, which is significantly changing the workforce landscape.
  2. The internet of things is giving businesses the ability to track and monitor their products and operations in real-time, which is resulting in increased efficiency and accuracy.
  3. Cloud computing is making it easier for businesses to access data and software from anywhere in the world, facilitating collaboration between teams located around the globe.
  4. Social media is providing businesses with new channels through which to reach and engage with their customers.

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