Welcome to the world of business! I know, before entering the big doors you didn’t even think about work-life balance and other things. But if you want to succeed in this field, it is important to get a grip on some important facts.
Know how does a company work: What it does and how to get in
A company is a separate legal entity formed by investors to engage in business activities. The primary goal of a company is to earn profit or create wealth, usually through the sale and/or exploitation of goods and/or services that generate revenue (the main source of which is known as “turnover”). Successful companies are able to sell their products for more than they cost to make (“create value”). But what about unsuccessful companies? They go out of business! So you can see why successful companies are so valuable.
There are lots of different types of business which you can join up with; all determined by what activity they focus on. For example, if you enjoy working with numbers and managing people or if you have mergers and acquisitions consulting experience, you might like to work in the management business. But if you would rather focus on the creative side of things and make great products, perhaps a technology company is right for you. So how do companies work then? It’s pretty simple really; businesses need somewhere to house their employees (i.e.: homes) and they need materials (more commonly known as raw material or assets such as money). They also need customers who buy these assets to make sure they still have money coming through the door! These are what are known as “the three P’s”: People (needed for jobs), Places (needed for houses, etc.), and Product (needed for customers to buy). The money that the business makes then goes into four main areas:
- To give to the government in taxes
- To pay/reward employees for their hard work
- To reinvest back into the business (to make it better)
- To be distributed amongst investors as profits
Getting ready for daily life ahead
If you are someone who has recently graduated from school and is anticipating the beginning of your career, here’s what you need to know about company functioning. People working in companies tend to fall into one of three main groups: Executives, Administrators, and Staff.
Executives are often owners or high-level managers (such as department heads) that make lots of important decisions that affect an entire company. Administrators usually work under executives, making concrete decisions that help further the mission of the company (such as hiring new staff.) And finally, Staff tends to take care of all the work-related tasks for each department (so if there is no Administrator in a particular department, then all responsibility falls onto the Staff).
What everyone is expected to do
As a new hire, you’ll likely be doing all sorts of different tasks each day. Executives and Administrators will have the most consistent work responsibilities, but staff may need to switch it up from time to time. No matter what your role is, everyone is expected to contribute as much as they can during their daily tasks and contribute even more when they are needed by coworkers or superiors.
Determine whether or not this path is really what you like:
In the modern world, it is no longer out of the ordinary to choose a path in life that you know isn’t exactly what you would like. In fact, many people go about their lives pretending they enjoy things they really do not, giving off a false exterior that everything is going well when in reality there are parts of their day that feel more awkward and forced than words could ever describe. The trick to surviving a job with which you’re uncomfortable is to identify precisely why this might be and how you can remedy it if possible. If your current role does not match up with what brought you into corporate culture in the first place or feels so foreign from your actual interests that it’s difficult to imagine staying with the company for a long period of time, it’s important to face up to this before you enter what may be a very lengthy commitment.
Change your mindset
This is probably the most important factor to take into account. If you don’t change your mindset, you’ll never be able to adapt yourself properly to the corporate world. You must understand that everything changes and things do not remain the same forever at work! Once you’ve got used to this idea–and it won’t be difficult for you to accept it because of the evidence provided by time itself–you can start thinking about how to cope with change.
The corporate world is complex and exciting. Hopefully, this article has given you the knowledge to understand how a company functions, what people are expected to do, and what you need to look out for when entering the corporate world. With this knowledge, you will be more confident navigating the corporate world and finding the right corporate career path.