What is Business Management?

Highlights of Business Programs
The global business environment has become extremely dynamic. Specialized individuals are demanded by employers to manage different aspects of businesses. To enter this challenging field, you may choose to earn a bachelor's or master's degree in business management. An undergraduate degree usually takes four years to complete. The first two years include courses from general study areas. The remaining two years will focus on the area of concentration. A master's degree is more focused and rigorous. The program is usually takes two years to complete.

Business management degrees cover different aspects of business operation including finance, marketing, technology, operations management, leadership and organizational behavior, and human resources. You will have the chance to choose a concentration of your interest. You will study various management concepts including current capital markets, customer and product markets, analysis and development of wining strategies, and evolving geopolitical influences. Coursework will include case studies, FIELD (Field Immersion Experience for Leadership Development) projects, and multimedia simulations. As stated in the US Bureau of Labor Statistics (BLS) Occupational Outlook Handbook, business management majors should be detail oriented, analytical, decisive, and flexible. Most importantly they should possess excellent communication and leadership skills to handle real-life situations. Business programs specifically focus on developing these qualities.

Job Responsibilities
Their work responsibilities will depend upon their specific role in an organization. Generally speaking, they are hired to ensure smooth working of an organization. For this purpose they carry out the following tasks: 

  • Generate interest in the company's services or products
  • Coordinate and direct supportive services of an organization
  • Maintain facilities, plan budgets and supervise personnel
  • Ensure that the facilities comply with the state and federal regulations
  • Enhance employee productivity and satisfaction

Career Prospects
With an online business management degree, graduates could work in almost any industry. Some of the common roles are:

  • Compensation and benefits manager
  • Brand manager
  • Agricultural manager
  • Loan review Analyst
  • Marketing manger
  • Investment manger
  • Human resources manager

According to the BLS, most positions record employment growth rates that are as fast as the average of all occupations from 2010 to 2020. Graduates work in public, private and non-profit sectors.  Salaries will vary by industries; therefore, it is recommended that you research industry overviews and areas of opportunity before joining.

Online Program Facilities
Top business schools of the country have started offering online business courses and programs. This is an ideal way to strike a balance between your education and other commitments, as you will have the opportunity to take additional time to complete the degree. Online program coordinators are there to assist you with the admission process and coursework. You will be able to explore and discuss your values, skills, and interests with these coordinators. With the help of career counselors, you could get a career that is right for you. Your career coaches may give you useful tips on how to navigate a job search effectively. Financial aid options are also available. Just make sure that your chosen college is accredited, and the accrediting organization is recognized by the U.S. Department of Education.

Q:How and when do i choose electives for business management?

A:Choosing the right electives is important and should be in line with the career you wish to pursue. If you are in college, and plan to pursue a career in business management, it is wise to go for electives that are relevant to your goals. Often, a college will offer a range of electives to students. These may include majors such as marketing, communications, management, human resource, etc. In most undergraduate or bachelor programs, you will be required to pick a major when nearing the end of the program.

Q:What is average business management salary?

A:Business management is broad and comprises of many occupations. The income level will vary from job to job and will also be affected by other factors such as skill, specialization, and employer. According to the US Bureau of Labor Statistics, in 2012, administrative service managers made a median annual income of $81,080, marketing managers made $115,750, and finance managers made $109,740.

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