Introduction to Diploma in Business Management
A large section of students today opt for business management as their study discipline to become relevant in the global business environment. Imagine starting an entrepreneurial endeavour with little or no knowledge of business functions and operations. Stepping into a business venture without adequate knowledge can prove to be unsettling for your endeavour. Hence, to ensure the continued success of a business model, organisations need to effectively implement management principles and ensure that the end-goals are met within the stipulated time. Without a well-structured business model in place, the risk of countering unprecedented challenges is high. A diploma in business management equips students with skills that allow them to take on the challenges of the present-day business setting. Furthermore, students get the opportunity to explore new avenues, wherein they can hone their business skills and enhance their business acumen.
  • This is a full-time diploma programme that is offered through day-time as well as evening classes, over the course of 78 weeks. The 78 weeks include 48 weeks of academic classes and scheduled breaks. During the course of this programme, students will learn the fundamentals of business management through 16 core modules. There are no elective modules included in the Diploma in Business Management course.
  • To get admitted into the diploma in business management programme offered by the Toronto School of Management (TSOM), applicants must meet the following minimum requirements:

    • The applicant must have acquired an Ontario Secondary School Diploma or equivalent or must have passed the Wonderlic Scholastic Level Exam;

    • The minimum age for enrolling into this programme is 18 years;

    • The applicants who are not native English speakers must have passed the English proficiency test of IELTS with a score of 5.5 or equivalent.

  • The 16 core modules of the diploma programme include:

    • Fundamentals of Business Communication: Effective business communication is a crucial management technique and is this module’s focal point. Students will learn effective ways of conveying ideas and messages through written and verbal communication and presentation techniques. Furthermore, students will gather better insights into how they can enhance their productivity at the workplace using effective time management skills. They will also understand how to use tools such as MS Office to assist business communication.

    • Bookkeeping, Computerised and Financial Acct with Simply Accounting: This module is focused on helping students become acquainted with important financial accounting software like Simply Accounting. In addition, students are familiarised with techniques such as analysis of business transactions and recording them using double-entry bookkeeping rules and adjustment of journal entries. Students also acquire hands-on experience in computerised accounting and its practical implementation. The module also focuses on helping students develop skills that allow them to convert a manual accounting system into a computerised version. They will use a range of business simulations that are applicable to general financial transactions, payables and receivable ledgers.

    • Business Environment: With the focus on gaining insights into different business settings, this module helps students develop an acquaintance with the factors that influence the functioning of an organisation. This includes understanding the relationship of businesses with the local, national and global marketplace and environment and the impact of stakeholders on businesses. Apart from this, students will get a better understanding of how different marketplaces affect business decisions of pricing and production.

    • Managing Financial Resources: Effective use of financial resources goes a long way in ensuring the longevity of businesses. The emphasis of this module is on aiding students with information about how and where businesses can get access to financial resources. They will also develop skills that will help them learn how to use financial information to assist in decision making.

    • Organisations and Behaviour: Companies and their stakeholders must have a strong hold over organisational behaviour and how they affect the business environment. In this module, students will learn in-depth about individual and group behaviour in a work setting. Furthermore, students will be taught how to assess and manage behaviour in the workplace.

    • Marketing Principles: In this module, students will garner a broad understanding of basic marketing concepts and principles that are critical to the progress of a business. Students will also develop crucial skills pertaining to marketing techniques and their implementation.

    • Business Decision Making: This module teaches students how to use data and analysis results to assist in business decision making. This includes techniques for gathering data and tools used to create, analyse and present useful information, which ensures effective decision making.

    • Research Project: The research project module focuses on helping students develop practical business skills by undertaking a sustained research investigation that will have a direct impact on their education programme. Furthermore, students will acquire skills pertaining to critical analysis and independent enquiry.

    • Financial Accounting and Reporting: Financial reporting is an important aspect of all businesses as it ensures that the financial health of organisations is intact and well-maintained. This module aims at assisting students in learning how to prepare financial statements for different business types, with a special focus on the need for financial reports to be compliant with legal, regulatory and basic accounting standards. Students will also learn how to use tools that are instrumental in interpreting financial statements.

    • Personal and Professional Development: With this module, students will understand how they can use their strengths and channel their weaknesses to attain their professional goals and enhance their personality.

    • Working with and Leading People: Businesses run through the efforts and productivity of employees. However, it requires teamwork and dedication to make the efforts count. This module will help students to develop team working abilities, leadership skills and techniques to recruit the right people for the right job.

    • Managing Business Activities to Achieve Results: This module helps students achieve advanced knowledge about varied business environments. Students can use this knowledge to strengthen their business acumen and achieve end-goals for their business. Broad knowledge over market trends and practices can put students ahead of the competition.

    • Managing Communications: In this module, students will understand how to use IT systems and communications to the advantage of the organisation. In addition, students will garner deep knowledge about communication systems and their influence and importance within a business setting.

    • Operations Management in Business: A wide range of operations makes up the foundational bricks of a business. Hence, in order to drive an organisation towards success, it is important to have exceptional operations management skills. This module focuses on teaching students how to effectively and efficiently produce goods and services.

    • Business Work Experience: It is important to have adequate and broad knowledge about business practices before students start their professional journey as business management professionals. The Business Work Experience model helps students to understand the intricacies of work practices by conducting an interview with an organisation with a work-based issue as the focal point. This not only will allow them to learn the tricks of the trade but will equip them with skills to prepare management reports and interpret them comprehensively.

    • Business Work Ethics: In this module, students will learn the significance of business ethics in a work setting. In addition, they will become familiar with its relevance in the context of business goals and objectives.

  • The course fee for this programme is $19,000 CAD. For the November 2019 intake, TSOM is offering a special promotional price of $11,000 CAD for international students and $6,080 CAD for domestic students. Students who want to opt for evening classes will be eligible for a 15% introductory offer if they enrol for the course in the September 2019 intake.

Why opt for a Diploma in Business Management?

The diploma programme in business management can help students garner broad knowledge over business management practices and can prepare them to become job-ready for a global business setting. Furthermore, students can explore various career opportunities in sectors such as finance, management, human resource and marketing. This diploma programme will also act as the foundation for a successful professional journey in the field of management.

Who should apply for a Diploma in Business Management?

Students who want to strengthen their knowledge about business management practices and the range of operations involved in the functioning of an organisation can opt for this programme. The programme will help them develop professional and management skills that are relevant to the present-day business sphere.

Scope and future of Diploma in Business Management

Business management graduates are experiencing a rise in demand as more and more organisations are crossing geographical boundaries to take their business to a global platform. This has, in turn, given way to a large number of exciting opportunities for students to explore. Globalisation has proved to be a blessing in disguise for business management professionals as it has widened the horizon for them, in terms of work placement and career progression.

Career prospects after pursuing a Diploma in Business Management

  • Project Coordinator: Your primary responsibility as a project coordinator would be to ensure that projects are following the set plan and framework to achieve the end goals of the project. Other responsibilities include ensuring that the project documentation is maintained properly, assessing the risks that might arise in a project, implementing risk management to counter the risks, monitoring the project and supervising the project team. In order to be effective as a project coordinator, you must have excellent communication skills, negotiation skills, effective project management skills and in-depth knowledge of project management techniques.

  • Retail Manager: As a retail manager, you will be required to supervise the day-to-day activities of retail outlets. This would include managing the staff, sales, stock and resources. To excel as a retail manager, you must have good people and commercial skills. Furthermore, you should be dependable, self-motivated and adopt a problem-solving approach to work issues.

  • Marketing Manager: The job responsibilities of a marketing manager include the development of marketing strategies and campaigns and their implementation. These marketing efforts are used to broaden the customer base by attracting new customers and retaining the existing ones. To be a successful marketing manager, you must be goal-oriented and flexible. In addition, you must have excellent creativity and communication skills.

  • Office Manager: An office manager’s job responsibilities include maintaining the office services, budget and stock management, organising office operations, preparing payroll, designing filing systems and monitoring clerical functions. Efficient office managers should be optimistic and proactive. Furthermore, they should have good communication skills and an active interest in the well-being of the organisation.

If you are interested in catalysing your career progression, taking up a diploma in business management in Canada can make your study abroad endeavour a success. Sign up for the course today to secure your entry into the business world.