What is business management?
A Business Management degree builds people on the art of organizing, planning, and analyzing business activities that will be needed to efficiently run a business. If you are determined to cultivate leadership skills and you want to become a business executive, then a degree in business management is for you. You will cultivate a lot of skills which include communication, precision thinking, sharp intuition, meticulousness, charisma, and others.
Why study business management?
For aspiring entrepreneurs and business leaders, a business management degree is consistently a popular choice. It provides the academic knowledge and skills to pursue global career opportunities and helps you develop a broad understanding of businesses and specific areas such as finance and human resources. But if you’re still not 100% sure if a business management degree is for you, here are five reasons that will convince you. Business management is a favorite choice of study for aspiring and existing business owners. This is because reports have shown that those who are in business and studied this course have been able to scale their business to a higher level. This is because the degree will develop your skillset in the following ways: Read: How much does a business management degree cost
1. Essential management skills
Studying business management enables you to develop your key management skills. This will not only improve you as a person; it will increase your productivity and enable your enterprise to scale upwards. You will build a skill set to respond to challenges and current developments in business and society, giving you the ability to make informed managerial decisions that consider ethical, economic, and social implications. Some of these key business management skills include:
2. Employability
Businesses want candidates who have undergone training or studied business management courses because of their strong skill set and business knowledge. Business managers have the opportunity to function in several niches and it is left to individuals to determine where they want to work. However, places like the following are open to them:
ConsultancyHuman resourcesSales and retailsManagementFinanceAdvertising and marketing
3. Business world Knowledge
It will introduce and reintroduce you to the world of business where you will get access to industry insights, market trends, and industry reports. You will gain in-depth knowledge and understanding of the core of business and management.
What can I do with a business management degree?
As a business manager, you do have unlimited opportunities in the business space and how far you can go is determined by how deep your learning and training go. For this reason, I have grouped this section into two based on the popular types of business management degree out there.
Business management associate degree
This is a pre-degree program taken just before the degree. You can get a job with it even if you did not go for your degrees afterward. In business management, an associate degree has access to jobs like:
Bookkeeping, accounting, and auditing clerks
The job description includes filing and coding documents, recording, and summarizing numerical data for the company, and reconciling financial discrepancies found while bookkeeping.
Administrative assistant
Administrative assistants answer phone calls, schedule meetings, update database information, prepare invoices and manage incoming and outgoing mail. They must be organized and detail-oriented, as they are responsible for a variety of clerical tasks that keep businesses running smoothly.
Sales associate
These workers can be found in a wide range of industries—if there’s a product or service, businesses need someone to help sell it. They offer expertise on merchandise, answer customer questions, and process transactions. Many of these positions have the potential to earn a commission, which can give you a nice boost to your earning potential if you find the right situation and pay structure.
Customer service associate
Customer service associates are all about serving the customer. Whether it’s listening to a customer’s questions or concerns, placing orders, providing information about products and services, or recording details of customer contact information, these business professionals make sure customers and clients are seen to. Patience and understanding go far in this position because customer service associates are often listening to customer complaints and working to solve them.
Personal banker
A personal banker handles a client’s entire relationship with a retail bank. From loans and personal accounts to trust funds and investments, these bankers have a wide range of knowledge about the products and services a bank offers. They can provide great customer service by answering clients’ questions and helping them make the right decision for their finances. They are the central point of contact for clients.
Business Management degree jobs:
These are jobs available to individuals with a degree certificate in Business management. The role is higher and more specialized than associate degree jobs and of course, they pay more. The jobs include: Read: How Can I Get A Diploma In Arts In 2022? Schools, Cost, Salary, Career
Marketing manager
They develop new marketing strategies for a business, by estimating the demand for products and services that a company and its competitors offer. They also identify potential markets for a company’s products.
Sales manager
Sales managers are the professionals responsible for setting the strategy behind sales initiatives and goals. They resolve customer complaints, prepare budgets, monitor customer preferences to determine the focus of sales efforts, and analyze sales statistics. Sales managers direct the distribution of goods and services by assigning sales territories, setting sales goals, and establishing training programs for the organization’s sales representatives.
Business analyst
Business analysts spend their workdays gathering data concerning problems or procedures within a company. They then analyze the collected information to conclude possible solutions or alterations.
Financial analyst
Financial analysts conduct qualitative analyses concerning a company’s finances and investments. They compose charts, graphs, and spreadsheets; forecasting business, industry, and economic conditions through analysis of financial information. They also determine the prices at which a company should offer its product to the public market and prepare investment plans that capitalize on their financial analysis.
Account manager
Account managers act as the organization’s representatives to a client. They foster client relationships, work with sales and marketing teams to find new clients, prepare presentations and sales pitches and communicate client agendas to the rest of the company.
How long does it take to get a degree in business management?
Generally, it takes about 4 years to complete a degree in business management while a master’s degree or MBA requires one to two years depending on the institution. Read: HOW CAN I GET A DIPLOMA IN PROJECT MANAGEMENT IN 2022? SCHOOLS, SALARY, CAREER
How much does it cost to get a degree in Business Management?
Credit costs for an associate degree in business management whether online or on-campus typically range from $90 to $435 per credit unit. But students should expect to pay between $6,000 and $26,000 in total tuition. While, the average annual out-of-state cost for a bachelor program in Business Management and Administration, is $33,896 with an estimated average four-year degree total cost of $135,584. And also, the average cost of an MBA is $40,000 a year, and most programs run two years, for a total bill of $80,000.
What colleges offer a business management degree?
Here are the best business management colleges. Visit their home page by click on each one of the
University of Michigan–Ann Arbor.The University of Pennsylvania.University of Virginia.The University of Texas at Austin.University of California–Berkeley.New York University.University of North Carolina–Chapel Hill.Indiana University–Bloomington.
Frequently asked questions about Business management
An Associate’s degree in Business Management can provide you with the foundational knowledge on which to build a career, and you can earn it in as few as 18 months. You can even complete the entire program online in your own time. Roughly four years Typically, earning a Bachelor of Business Management degree takes roughly four years to finish. If you’re looking to fast-track your way into obtaining your Bachelor’s in Business Management, you can opt to study online. There are two types of two-year business degrees: associate of applied business and associate of business administration. Additionally, some programs for an associate of general studies degree may include business coursework Yes, an Associates’s Degree in Business is worth it for many professionals. According to the Bureau of Labor Statistics, business and financial jobs are set to grow at 5% over the next decade, faster than the average for all occupations. Management Salary Degree: Average Range the average yearly salary for someone with a bachelor’s degree in business management is $60,000, $75,000 with a master’s degree, and $122,000 with a doctorate in business management. 9 Careers to Pursue with an Associate’s Degree in Business: Project Manager Administrative Assistant Accountant Sales Manager Office Manager Specialist in Human Resources Supervisor. Yes, business administration is a good major because it dominates the list of most in-demand majors. Majoring in business administration may also prepare you for a wide range of high-paying careers with above-average growth prospects (U.S. Bureau of Labor Statistics)
Conclusion
A business management degree provides the platform by which individuals can improve their business skills as well as increase their employability chances. You get to scale your business or net a bigger paycheck from the company of your dreams. The degree is worth all the cost and time because all organizations will rank a candidate higher if they have taken a business management course at a point in time. Take a business management course today!
References
Kingstonics: Benefits of studying business managementUs news: What can you do with a business management degreeRasmussen: What can you do with a business management degreeTop management degrees: what is business management
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