00-00 Title 1Front CUTM Career Guide - Centurion University

JOIN THE FAMILY BUSINESSAPPENDIX B - CAREER PATHWAYAs an entrepreneur successor, in joining the family business you will need to explore new markets andtrends, exercise leadership bring specialized qualities such as Human Resource, Marketing and Financeskills. Young entrepreneurs should bring innovation, passion, commitment and initiative along with hardwork and perseverance to ensure the future success of the family company.Entering the family business and steering it to success can feel like an enormous responsibility. Workingwith family members can be rewarding but may also cause tension and negative emotions. It is importantthat when considering working in the family business that you can clearly define your career dreams andhow they relate to the strategic vision of the company.The key to ongoing business success is to plan for the future, keep up to date with market trends, embracechange, improve on existing ideas or create new ones. Through, ongoing training, work experience andcontinuing education you can develop the skills and qualities necessary to ensure the longevity of thecompany for generations to come.Before deciding to join the family business you should consider:1. Conducting a self-assessment and asking yourself the following questions.• Will I be happy working for in the family business?• What are my strengths and weaknesses?• Do I have the skills required to perform in the business?• Do I have sufficient leadership qualities?• What areas of the business do I need to learn about?• Do I require further education, training or mentoring?Knowing more about self and what you believe and what you think you should be doing will help youmake better decisions for yourself and the family business.2. Work ExperienceGaining work experience in an organization for a few years before you enter the family business is anopportunity to observe management styles, work ethics and practices and allows you to make andlearn from your mistakes without family members watching your every move. You will enter thefamily business with more knowledge and confidence and be able to bring best practice learnt fromyour work experience.3. Continuing Education – Masters of Business Administration (MBA)Mastering the study of business is only an MBA away. By completing the CUTM MBA, you will equipyourself with the necessary knowledge to tackle real world business issues. It is a postgraduatedegree that is suited to all industries and sectors. You will cover core topics that will enhance yourgeneral management skills such as economics, finance, marketing, operations and accounting.Through completing assignments, group projects and making presentations you will developleadership qualities, teamwork and communication skills. Broaden your horizons; meet and studywith `like minded' people, create friendships and networking opportunities. A strong businessacumen, people management, knowledge and confidence are the qualities that are needed bybusiness leaders and that can be acquired in completing an MBA.For more information: www.cutm.ac.in/academics/mba.phpwww.cutm.ac.in21