Building Your Business Profile Is Easier Than You Think

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05 October 2018

Business

Business Profile

Many people working in the business are pursuing an MBA as the next step in their professional development so they can increase their future job prospects. MBA programs located in major cities are drawing talented and inventive people from around the world who want to learn and network with the best of the best.

Nowadays, an MBA is essential to your professional resume if you want it to stand out to recruiters because it’s a designation that shows leadership, teamwork skills and adaptability. The fact that many schools require students to have a few years of work experience before they dive into their MBA helps increase job prospects for students because they already have practical knowledge to do with their field. The requirement for work experience helps students understand what they may want to pursue as a specialization in order to improve their knowledge and performance in certain areas of business.

It’s a good idea to pay attention to the location of your school’s campus and its proximity to the city’s thriving business community in order for you to get the maximum amount of opportunities to network. Many people working in the business sector are pursuing a part-time MBA in Toronto while they work full time and choosing specific specializations that can help them increase their profile with greater specificity. Building your business profile is easier in Toronto because it is Canada’s economic capital.

The Lazaridis School of Business & Economics is a globally recognized AASCB accredited school that offers a part-time MBA program located in the Sun Life building in the heart of Toronto. The school’s reputation for distinguished faculty members and a variety of specialization options allows the institution to draw talent from around the world. You can complete your degree in 2.3 years or spread it out over 4 years on an evening and alternate weekend schedule (Friday evenings and Saturday daytime). There are nine different specialization options that will help your resume stand out to employers such as Marketing, Entrepreneurship, Financial Management, International Business Management, Operations Management, Accounting, Organizational Behavior & Human Resources Management, Strategic Management and Human Resources Management.

It is important for students to achieve a prestigious degree that centers on a textbook education but also allows them to bond with some of the brightest minds in their field. A school’s proximity to major social events and business functions makes the networking aspect of your degree easier, allowing you to make connections that could lead to better job prospects. Schools like these put on social events like GMAT, math and verbal refresher courses as well as the Laurier Finance Meetup, an event that brings together students and leading business figures.

Attending a school located near Bay Street in Toronto is essential to students who value a dynamic learning experience. An MBA in the city is the next step for those who want to visualize their own success, as they blend in with industry leaders while learning skills that will up the value of their business profile.

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I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Your Business

Why Correctly Valuing Your Business Is Essential

Knowing your business's accurate value can be helpful if you plan on selling your brand someday. However, the fear sellers have in getting the best possible price is understandable.Selling your business is one of the most significant events in your professional life. While this brings some caution, it should also be exciting as you move on to your next adventure. Before you start the process, it's a good idea to use a valuation calculator to get an idea of how much your business is worth.Gathering as much information as possible about your business is essential. Preparation is key. With that in mind, here are 6 key tips to help you value your business correctly.Tips To Help You Value Your BusinessHere are some ideas that can help you understand the valuation of your company:1. Understand Price-To-Earning Ratio (P/E)It is typical for businesses to use the price-to-earnings ratio to understand their value. This tip works best for companies that have an established profit track. The P/E will be higher if the business has high-profit growth.Let us take an example — if your company makes $500,000 profit after taxes and you utilize the P/E ratio of 4, it means your business will be valued at $2,000,000. The P/E ratio will depend on the growth ratio of your company. For instance, start-ups will have a higher ratio because they are high-growth businesses. On the other hand, high-street companies, like real-estate companies, will have a lower P/E ratio.Since P/E ratios can differ extensively, no standard ratio can be used to value all types of businesses. In most cases, the valuation between 4 and 10 is used as the standard.2. Cost Of EntryThis tip is quite simple — this is the total cost of setting up a business similar to the one being valued. In this case, you will have to consider every factor that helped the business get to where it is today. This involves all the costs, tangible assets, building a customer base, recruitment, etc.Next, you need to think about all the money you can save while setting up the business. For instance, the costs you save by using cheaper material alternatives or setting up the business elsewhere.To get the entry cost, you need to subtract the latter (saved money) from the former (the cost of setting up the business). This is your valuation.3. Valuing The Business AssetsIn the case of established and stable businesses, these companies often have a lot of tangible assets that can be valued. Some great examples, in this case, include those in the manufacturing and property businesses.You will have to start working out the company's NBV (Net Book Value) to start its asset valuation. In most cases, these assets will be recorded in the accounts of the business. Next, you simply need to make a few other adjustments like depreciation, etc., to determine the assets' actual value.4. Discounted Cash FlowThis is a complex way of determining the value of a company – it is all about making reliable assumptions about the future of a business. In most cases, this particular method is used by companies with more predictable and stable cash flows. For example, utility companies.As you can guess, this tip will help you understand the value of the business by estimating the worth of the future cash flow today. Adding the dividends forecast will help you figure out a valuation for the next decade or so.5. The Rule Of The ThumbThere are a handful of companies that deal with the buying and selling of businesses. Therefore, it only makes sense that these businesses utilize certain standard methods to determine the value of their companies. 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If the buyer does not have a stable team to grow your company, you can also add a strong management team for additional value.ConclusionWith the help of these tips mentioned in this article, you should be able to approximately evaluate your company. To further help with your valuations, there are useful business valuation tools online.For an online business valuation tool, you will usually need to provide some basic data about your company, which will then be measured against the standardized benchmark to provide you with an accurate company valuation.Additionals:Master’s In Business Analytics: Is It Worth The Effort?Your Business Needs Marketing To Survive – Here’s WhyContent Marketing Campaign Strategy For Small BusinessHow Business Owners Can Protect Themselves if Their Business Fails

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Intrapreneur

Who Is An Intrapreneur? Definition, Characteristics, Pros/Cons, More

Intrapreneurs and Entrepreneurs - they sound similar right?Yeah, they do, but their definition, meaning, and characteristics are totally different from one another. Here is what we know about entrepreneurship.Read the guide till the end to grab some rich insights.Who Is An Intrapreneur?Here is a concise definition.An intrapreneur is the one who is responsible for developing an innovative project or idea within an organization.He/she doesn’t face the outsized risks that an entrepreneur doesn’t. However, he possesses the major access to all the capabilities and resources of an established company. To be very specific, the intrapreneur gets the autonomy to work on projects having a considerable impact on organizational development.The term intrapreneur is an amalgamation of two words like “internal” and “entrepreneur.” In 1978, it was first coined by Elizabeth S. 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They Are ResilientIntrapreneurs starting a business simply have an idea which they have to work super hard to give a shape. That’s why they need to be highly resilient since it’s likely they would come across a plethora of obstacles throughout their journey.Pros And Cons Of IntrapreneurshipHere is a critical analysis of Intrapreneurship I have explained through an evaluation of its pros and cons. Take a look at the table below:Pros Of IntrapreneurshipCons of IntrapreneurshipIt decreases the financial risk on the innovatorThe glory you enjoy is not for you only, it’s shared.Makes use of all the organizational talent and resourcesThere is high potential for conflicts with the other members.Increases the delivery of better services, products, or support.Returns are generally less in comparison to the entrepreneurs.Enlarges your reputation and develops your network.There are a myriad of risks pertaining to failureIt’s a stepping stone to entrepreneurshipYou will still have a boss monitoring youCompanies Around The World Having IntrapreneursHere are some leading tech giants around the world who support Intrapreneurship just like different types of entrepreneurs:GoogleMicrosoftShutterstockIntelFacebookAppleGeneral MotorsVirgin Frequently Asked Questions (FAQs):Q1. What Does Intrapreneur Mean? An Intrapreneur is an employee who is given the support and authority to create a new service or product. Unlike entrepreneurs, they have no concern about whether or not the product would become a revenue source for the company. Q2. What Is Intrapreneur Example? One of the greatest examples of Intrapreneurship is Dreamworks Animation. It’s a media behemoth that gave classic works like Madagascar and Kung Fu Panda. They also offer classes on script writing to the animators. Q3. What Are The Types Of Intrapreneurs? The 3 types of Intrapreneur are as follows:1. Advocate, coming from a customer-facing role 2. The creator coming from an internal-facing role3. The change maker coming from an external-business-facing role.  Q4. What Is The Difference Between Intrapreneurs And Entrepreneurs? The main difference between Intrapreneur and Entrepreneur is that an entrepreneur is a ground-up-and-go person when it comes to their own money. On the other hand, an intrapreneur is someone who starts steaming from inside a large company. That’s all about Entrepreneur Vs Intrapreneur.The Bottom LineThat’s all we had to say about Intrapreneurs. They are overlooked often in the realm of entrepreneurship. However, with the world-changing innovation coming up, established corporations are prioritizing them. Wanna learn how to become an intrapreneur and Intrapreneur Vs Entrepreneur in more detail? Then keep an eye out on our website as we will be coming up with a guide to that.Read More:What is an Airsoft Gun?How Gun and Security Gear Advanced through the YearsParts of a Gun: All You Need to Know About the Components of Your Firearm

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Corporate Hackathon

Corporate Hackathon: Benefits To The Employees

Hackathons are becoming a growing hit in the business world as a tool to encourage employee innovation and collaboration.A hackathon is an event where employees from different departments come together to work on specific projects. It is usually a time-bound event, ranging from a few hours to several days.The objective is to come up with creative solutions that businesses may use and leverage.Hackathon events offer various advantages to workers. In this post, we'll talk about a few of these benefits and how they might raise an organization's general productivity and efficacy.Virtual Hackathon PlatformAn online platform that allows businesses to hold hackathons remotely. 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One of which is corporate hackathons. With a virtual hackathon platform, businesses can use the power of cooperation and creativity to advance their operations.How to Host a Hackathon at Your Organization?Set specific goals and objectives for your hackathon.Decide on a theme or problem statement to focus on.Invite participants from across your organization. Think about opening up participation to outside parties as well.Choose the right hackathon software to facilitate the event. Consider from idea submission and team formation to project management and presentation.Provide appropriate resources and support, such as access to technology, mentors, and refreshments.Encourage teamwork and communication amongst participants.Set realistic deadlines for the hackathon. Ensure that teams have enough time to develop their ideas.Plan for a post-hackathon review and feedback. Determine future steps to be taken.Benefits of Corporate Hackathons to EmployeesAdvancement in the WorkplaceCorporate hackathons are an essential tool for the professional development of employees. Through hackathons, employees can acquire new skills and approaches that can help them advance in their careers.Here are some of the ways that corporate hackathons can promote professional growth:Exposure to new technologies: Participants can learn about new technologies and hackathon software, which can broaden their skillset and improve their problem-solving abilities.Project management: Hackathons often have tight deadlines, which can help employees learn to deal with pressure and improve their resilience and adaptability.Leadership development: Leading a project during a hackathon allows participants to develop their leadership abilities and hone their decision-making skills.Encourages Creativity and InnovationIn today's fast-paced corporate world, it's easy for employees to get bogged down with daily tasks and lose sight of their creative potential. 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For example, a developer may learn about the user experience from a designer, whereas a marketing employee may work with a software engineer and learn to code.The team-building component of a hackathon enables staff members to train in resolution techniques, enhancing interpersonal competencies.Employees can leverage their individual strengths to achieve a common goal. This saves time, considering the pressure of time constraints and the need to produce a functional prototype.Employees feel good that their ideas and contributions are acknowledged. They will likely have a positive attitude toward their work and the company.Favors inclusion and diversity. By encouraging participation, hackathons can help break down barriers and promote a more inclusive work environment.Boosts Morale and MotivationParticipating in a hackathon can be a great morale booster for employees. They feel satisfaction in their work and a sense of success. Staff members are motivated to put in more effort and advance the company.Hackathons also provide employees with a break from their routine work. Staff members get to work on something different and exciting. This is helpful in reducing boredom and burnout. Increased job fulfillment and employee retention may also follow from this.Hosting a corporate hackathon demonstrates the organization cares about its employees' growth and creative potential. Creating a fun and exciting work atmosphere can increase employee engagement.Safe Space: Hackathons give workers a place to try out novel ideas and take chances without worrying about failing. Employees from discriminated groups who might be reluctant to speak up in traditional workplaces may find this beneficial.Summing UpCorporate hackathons are a remarkable resource for professional development overall. Corporate hackathons are a fantastic method to promote innovation and creativity among employees. 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