Skip to Main Content
HBS Online
  • Courses
    Open Courses Mega Menu
    • Business Essentials
      • Credential of Readiness (CORe)
      • Business Analytics
      • Economics for Managers
      • Financial Accounting
    • Leadership & Management
      • Leadership Principles
      • Management Essentials
      • Negotiation Mastery
      • Organizational Leadership
      • Strategy Execution
      • Power and Influence for Positive Impact
      • Leadership, Ethics, and Corporate Accountability
      • Leading Change and Organizational Renewal
      • Dynamic Teaming
      • Transforming Customer Experiences
    • Credential of Leadership, Impact, and Management in Business (CLIMB)
    • Credential of Digital Innovation and Strategy
    • Entrepreneurship & Innovation
      • Entrepreneurship Essentials
      • Disruptive Strategy
      • Negotiation Mastery
      • Design Thinking and Innovation
      • Launching Tech Ventures
      • Winning with Digital Platforms
      • Leading Change and Organizational Renewal
      • Entrepreneurial Marketing
      • Transforming Customer Experiences
    • Strategy
      • Strategy Execution
      • Business Strategy
      • Economics for Managers
      • Disruptive Strategy
      • Global Business
      • Sustainable Business Strategy
    • Marketing
      • Digital Marketing Strategy
      • Creating Brand Value
      • Entrepreneurial Marketing
    • Digital Transformation
      • Winning with Digital Platforms
      • AI Essentials for Business
    • Finance & Accounting
      • Financial Accounting
      • Leading with Finance
      • Alternative Investments
      • Sustainable Investing
      • Strategic Financial Analysis
    • Business in Society
      • Sustainable Business Strategy
      • Global Business
      • Sustainable Investing
      • Power and Influence for Positive Impact
      • Leadership, Ethics, and Corporate Accountability
      • Business and Climate Change
    • All Courses
  • For Organizations
    Open For Organizations Mega Menu
    • Corporate Learning
      Help your employees master essential business concepts, improve effectiveness, and expand leadership capabilities.
    • Academic Solutions
      Integrate HBS Online courses into your curriculum to support programs and create unique educational opportunities.
    • Need Help?
      • Frequently Asked Questions
      • Contact Us
    • Insights
      Open Insights Mega Menu
      • Business Insights Blog
        • Career Development
        • Communication
        • Decision-Making
        • Earning Your MBA
        • Entrepreneurship & Innovation
        • Finance
        • Leadership
        • Management
        • Negotiation
        • Strategy
      • All Topics
      • Learner on computer exploring HBS Online business lessons
        Sample Business Lessons and E-Books

        Gain new insights and knowledge from leading faculty and industry experts.

      • HBS Online Parlor Room podcast logo
        Podcast

        The Parlor Room: Where business concepts come to life. Listen now on your favorite podcast platform.

    • More Info
      Open More Info Mega Menu
      • Learning Experience
        Master real-world business skills with our immersive platform and engaged community.
      • Certificates, Credentials, & Credits
        Learn how completing courses can boost your resume and move your career forward.
      • Learning Tracks
        Take your career to the next level with this specialization.
      • Financing & Policies
        • Employer Reimbursement
        • Payment & Financial Aid
        • Policies
      • Connect
        • Student Stories
        • Community
      • Need Help?
        • Frequently Asked Questions
        • Request Information
        • Support Portal
      • Enroll Now
    Login
    My Courses
    Access your courses and engage with your peers
    My Account
    Manage your account, enrollment, and payments.
    HBS Home
    • About HBS
    • Academic Programs
    • Alumni
    • Faculty & Research
    • Baker Library
    • Giving
    • Harvard Business Review
    • Initiatives
    • News
    • Recruit
    • Map / Directions
    HBS Online
    • Courses
    • Business Essentials
    • Leadership & Management
    • Credential of Leadership, Impact, and Management in Business (CLIMB)
    • Credential of Digital Innovation and Strategy
    • Entrepreneurship & Innovation
    • Strategy
    • Marketing
    • Digital Transformation
    • Finance & Accounting
    • Business in Society
    • For Organizations
    • Insights
    • More Info
    • About
    • Support Portal
    • Media Coverage
    • Founding Donors
    • Leadership Team
    • Careers
    • My Courses
    • My Account
    • Enroll Now
    • …→
    • Harvard Business School→
    • HBS Online→
    • Business Insights→

    Business Insights

    Harvard Business School Online's Business Insights Blog provides the career insights you need to achieve your goals and gain confidence in your business skills.

     
    Filter Results Arrow Down Arrow Up

    Topics

    Topics

    • Accounting
    • Analytics
    • Business Essentials
    • Business in Society
    • Career Development
    • Communication
    • Community
    • ConneXt
    • Decision-Making
    • Digital Transformation
    • Earning Your MBA
    • Entrepreneurship & Innovation
    • Finance
    • For Organizations
    • Leadership
    • Management
    • Marketing
    • Negotiation
    • News & Events
    • Productivity
    • Staff Spotlight
    • Strategy
    • Student Profiles
    • Technology
    • Work-Life Balance

    Courses

    Courses

    • AI Essentials for Business
    • Alternative Investments
    • Business Analytics
    • Business Strategy
    • Business and Climate Change
    • CLIMB
    • CORe
    • Creating Brand Value
    • Credential of Digital Innovation and Strategy
    • Design Thinking and Innovation
    • Digital Marketing Strategy
    • Disruptive Strategy
    • Dynamic Teaming
    • Economics for Managers
    • Entrepreneurial Marketing
    • Entrepreneurship Essentials
    • Financial Accounting
    • Global Business
    • Launching Tech Ventures
    • Leadership Principles
    • Leadership, Ethics, and Corporate Accountability
    • Leading Change and Organizational Renewal
    • Leading with Finance
    • Management Essentials
    • Negotiation Mastery
    • Organizational Leadership
    • Power and Influence for Positive Impact
    • Strategic Financial Analysis
    • Strategy Execution
    • Sustainable Business Strategy
    • Sustainable Investing
    • Transforming Customer Experiences
    • Winning with Digital Platforms
    Subscribe to the Blog
    *
    Please complete this required field.
    Email must be formatted correctly.
    Please complete all required fields.
    RSS feed

    Filters

    Topics

    Topics

    • Accounting
    • Analytics
    • Business Essentials
    • Business in Society
    • Career Development
    • Communication
    • Community
    • ConneXt
    • Decision-Making
    • Digital Transformation
    • Earning Your MBA
    • Entrepreneurship & Innovation
    • Finance
    • For Organizations
    • Leadership
    • Management
    • Marketing
    • Negotiation
    • News & Events
    • Productivity
    • Staff Spotlight
    • Strategy
    • Student Profiles
    • Technology
    • Work-Life Balance

    Courses

    Courses

    • AI Essentials for Business
    • Alternative Investments
    • Business Analytics
    • Business Strategy
    • Business and Climate Change
    • CLIMB
    • CORe
    • Creating Brand Value
    • Credential of Digital Innovation and Strategy
    • Design Thinking and Innovation
    • Digital Marketing Strategy
    • Disruptive Strategy
    • Dynamic Teaming
    • Economics for Managers
    • Entrepreneurial Marketing
    • Entrepreneurship Essentials
    • Financial Accounting
    • Global Business
    • Launching Tech Ventures
    • Leadership Principles
    • Leadership, Ethics, and Corporate Accountability
    • Leading Change and Organizational Renewal
    • Leading with Finance
    • Management Essentials
    • Negotiation Mastery
    • Organizational Leadership
    • Power and Influence for Positive Impact
    • Strategic Financial Analysis
    • Strategy Execution
    • Sustainable Business Strategy
    • Sustainable Investing
    • Transforming Customer Experiences
    • Winning with Digital Platforms
    Subscribe to the Blog
    *
    Please complete this required field.
    Email must be formatted correctly.
    Please complete all required fields.
    RSS feed

    7 Business Fundamentals Professionals in Every Industry Should Know

    Business Team Meeting
    • 26 Sep 2019
    Matt Gavin Author Staff
    tag
    • Business Analytics
    • Business Essentials
    • CORe
    • Career Development
    • Economics for Managers
    • Financial Accounting
    • Leadership
    • Leadership Principles
    • Negotiation Mastery

    The workforce is rapidly evolving. According to research by McKinsey, automation and artificial intelligence will transform the workplace over the next 10 to 15 years, impacting the skills professionals need to stay competitive in their fields.

    Beyond an increasing demand for those with technological know-how, the changing job market is driving a need for workers who are adept at decision-making, complex information processing, critical thinking, communication, and leadership.

    For employees seeking to advance their careers, learning business fundamentals can be a way to acquire those skills and achieve professional growth.

    What Are Business Fundamentals?

    The basic skills and concepts needed to run an organization are referred to as business fundamentals.

    By fully comprehending how a business operates, you’ll have a better idea of how different business functions relate and how your decisions impact the organization as a whole.

    If you want to equip yourself with the skills needed to thrive in your present role—and future ones—here are seven business fundamentals you should know.


    Free E-Book: A Guide to Advancing Your Career with Essential Business Skills

    Access your free e-book today.

    DOWNLOAD NOW

    Business Fundamentals Every Professional Should Know

    1. Analytics

    The demand for professionals with a keen understanding of business analytics and data science is on the rise. A recent report by the Business-Higher Education Forum and PwC found that 69 percent of US executives will prefer job candidates with data skills by 2021.

    In addition, top companies, such as Uber, Microsoft, and Blue Apron, leverage data and analytics in their organizational processes to improve operations and drive performance.

    Knowing how to develop and test hypotheses, perform a cost-benefit analysis, and visualize data can not only bolster your resume but also lead to more informed decision-making that benefits your organization.

    2. Financial Accounting

    The value of accounting knowledge isn’t limited to just numbers-focused roles. No matter your profession, understanding the meaning behind the numbers on financial statements can be a boon to your career.

    For instance, learning how to prepare a balance sheet can help you unlock critical insights into your organization’s performance and become an indispensable member of your team.

    For Isha Khambra, an engineer and former participant in Harvard Business School Online’s Credential of Readiness (CORe) program, gaining fundamental accounting skills enabled her to add value to her company and make better decisions in the workplace.

    “Learning financial accounting helped me decipher the balance sheet and quarterly profit and loss statements of my assigned project and make more informed decisions that reduced its overall operational cost,” Khambra says.

    3. Economics

    Beyond an in-depth knowledge of your industry’s market demands, studying economics can equip you with the necessary skills to craft a successful business strategy and help your firm succeed against competitors.

    In the case of Pankaj Prashant, an engineer who took CORe to learn business fundamentals, the lessons he learned in Economics for Managers led to a deeper understanding of how pricing works in his field.

    “The mining industry experiences cyclical price fluctuation every few years, and now I understand the reasons and factors that dictate these changes and how supply and demand affect commodity pricing,” Prashant says.

    4. Leadership

    The ability to lead and mobilize others is vital for all professionals. According to a recent report by the World Economic Forum, leadership is projected to be among the top 10 most in-demand skills through 2022.

    Taking the time to develop your personal leadership style can cultivate greater emotional intelligence, enabling you to be a more effective collaborator and improve how you communicate and share feedback with colleagues.

    Research shows emotional intelligence can be more important than IQ and previous experience when it comes to workplace success, underscoring why it’s important for you to sharpen your ability to understand and manage your emotions while recognizing and influencing the feelings of those around you.

    5. Negotiation

    Developing negotiation skills can have a significant payoff in any field. Knowledge of effective bargaining tactics can help you resolve conflicts that are otherwise deadlocked and equip you with the skills needed to maximize value in agreements.

    In addition to benefiting your company, being a strong deal-maker can lead to greater success when negotiating a starting salary or asking for a raise.

    Whether you’re someone who jumps at the chance to engage in deals or shies away from the bargaining table, honing your negotiation skills can greatly benefit both your organization and career.

    6. Strategy

    According to a survey by Bridges Business Consultancy, only two-thirds of business leaders believe their organization is good at crafting strategy. While half believe their firm is good at strategy implementation, just seven percent of business leaders believe their organization is excellent at it.

    An understanding of strategy formulation and execution can help professionals across all industries, making it easier for their organizations to meet business goals and adapt to new challenges and opportunities.

    By developing your strategic thinking skills, you can learn how to use available information to solve complex problems and make more informed, strategic decisions.

    7. Global Business

    Global business impacts every organization, regardless of whether you conduct business internationally. Because of this, it’s important to understand how your organization affects the global market, and vice versa.

    Many of today’s largest and most successful organizations, such as Apple and Walmart, are multinational corporations conducting business worldwide. In an age of globalization, it’s highly beneficial for today’s professionals to broaden their knowledge of international business.

    Whether you’re employed by a small firm or a multinational corporation, becoming familiar with the global market and challenges of international business can help you better understand how your business decisions affect the global economy, community, and environment.

    Which HBS Online Business Essentials Course is Right for You? | Download Your Free Flowchart

    Learning Business Fundamentals

    Furthering your knowledge of business fundamentals can help you achieve career success, no matter your industry.

    Developing business skills through an online course, like CORe, can help you grow in your current role and prepare for the next step in your professional journey.

    Do you want to take your career to the next level? Explore our online business essentials courses to gain fluency in the language of business and gain a competitive edge in the job market.

    This post was updated on May 14, 2021. It was originally published on September 26, 2019.

    About the Author

    Matt Gavin is a member of the marketing team at Harvard Business School Online. Prior to returning to his home state of Massachusetts and joining HBS Online, he lived in North Carolina, where he held roles in news and content marketing. He has a background in video production and previously worked on several documentary films for Boston’s PBS station, WGBH. In his spare time, he enjoys running, exploring New England, and spending time with his family.
     
    All FAQs

    Top FAQs

    How are HBS Online courses delivered?

    +–

    We offer self-paced programs (with weekly deadlines) on the HBS Online course platform.

    Our platform features short, highly produced videos of HBS faculty and guest business experts, interactive graphs and exercises, cold calls to keep you engaged, and opportunities to contribute to a vibrant online community.

    Are HBS Online programs available in languages other than English?

    +–

    We expect to offer our courses in additional languages in the future but, at this time, HBS Online can only be provided in English.

    All course content is delivered in written English. Closed captioning in English is available for all videos. There are no live interactions during the course that requires the learner to speak English. Coursework must be completed in English.

    Do I need to come to campus to participate in HBS Online programs?

    +–

    No, all of our programs are 100 percent online, and available to participants regardless of their location.

    How do I enroll in a course?

    +–

    Certificate Programs

    HBS Online welcomes committed learners wherever they are—in the world and their careers—irrespective of their professional experience or academic background. To extend the reach of HBS Online, we no longer require an application for our certificate programs. (Applications are still required for our credential programs: CORe and CLIMB.) You can now immediately enroll and start taking the next step in your career.

    All programs require the completion of a brief online enrollment form before payment. If you are new to HBS Online, you will be required to set up an account before enrolling in the program of your choice.

    Our easy online enrollment form is free, and no special documentation is required. All participants must be at least 18 years of age, proficient in English, and committed to learning and engaging with fellow participants throughout the program.

    Updates to your enrollment status will be shown on your account page. HBS Online does not use race, gender, ethnicity, or any protected class as criteria for enrollment for any HBS Online program.

    Credential Programs

    HBS Online's CORe and CLIMB programs require the completion of a brief application. The applications vary slightly, but all ask for some personal background information. You can apply for and enroll in programs here. If you are new to HBS Online, you will be required to set up an account before starting an application for the program of your choice.

    Our easy online application is free, and no special documentation is required. All participants must be at least 18 years of age, proficient in English, and committed to learning and engaging with fellow participants throughout the program.

    Updates to your application and enrollment status will be shown on your account page. We confirm enrollment eligibility within one week of your application for CORe and three weeks for CLIMB. HBS Online does not use race, gender, ethnicity, or any protected class as criteria for admissions for any HBS Online program.

    Does Harvard Business School Online offer an online MBA?

    +–

    No, Harvard Business School Online offers business certificate programs.

    What are my payment options?

    +–

    We accept payments via credit card, wire transfer, Western Union, and (when available) bank loan. Some candidates may qualify for scholarships or financial aid, which will be credited against the Program Fee once eligibility is determined. Please refer to the Payment & Financial Aid page for further information.

    We also allow you to split your payment across 2 separate credit card transactions or send a payment link email to another person on your behalf. If splitting your payment into 2 transactions, a minimum payment of $350 is required for the first transaction.

    In all cases, net Program Fees must be paid in full (in US Dollars) to complete registration.

    What are the policies for refunds and deferrals?

    +–

    After enrolling in a program, you may request a withdrawal with refund (minus a $100 nonrefundable enrollment fee) up until 24 hours after the start of your program. Please review the Program Policies page for more details on refunds and deferrals. If your employer has contracted with HBS Online for participation in a program, or if you elect to enroll in the undergraduate credit option of the Credential of Readiness (CORe) program, note that policies for these options may differ.

     

    Sign up for News & Announcements


    • • Please complete this required field.
    • • Email must be formatted correctly.
    • • Please complete all required fields.

    Subject Areas

    • Business Essentials
    • Leadership & Management
    • Entrepreneurship & Innovation
    • Strategy
    • Marketing
    • Finance & Accounting
    • Business & Society
    • Digital Transformation

    Quick Links

    • FAQs
    • Contact Us
    • Request Info
    • Enroll Now
    • Support Portal

    About

    • About Us
    • Media Coverage
    • Founding Donors
    • Leadership Team
    • Careers @ HBS Online

    Legal

    • Legal
    • Policies
    Harvard Business School
    Copyright © President & Fellows of Harvard College
    • Site Map
    • Trademark Notice
    • Digital Accessibility