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What is Business and Management?
Business and Management are the disciplines dedicated to organizing, analyzing, and planning various types of commercial operations. And if that sounds really general, it’s only because these fields cover a lot of ground!
Furthermore, these degree programs teach the fundamental skills that are required to efficiently manage or manage a business. That is why you will find specializations in Administration and Business in each industry, in a variety of different types of jobs.
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So, whether you want to work for a large corporation or a family store, you can be sure that a degree in Business and Management will teach you the skills and theory you need for a successful career.
Definition of Business Management
Business management is the act of organizing people to achieve the desired goals and objectives of a company. It requires the use of the entity’s resources in the most efficient way possible.
Business management includes organizing, planning, directing, staffing, or controlling and directing a commercial effort in order to achieve the objectives listed by the entity. In a for-profit business model, business management focuses on the satisfaction of a variety of stakeholders, including company officials, their employees, shareholders, and the general public (consumers). Therefore, the main function of business management is to ensure a benefit (for shareholders) to create valuable and innovative products at a reasonable cost (consumers) and to provide employment opportunities. Additionally, in a non-profit area, business management will focus on maintaining the faith of its supporters and donors.
Business Management Major Description
A specialization in business administration prepares students to administer and supervise business activities such as account administration, preparation of tax returns, and employee supervision. Job options for business administration students include work as a business development specialist, account executive, business analyst, and office manager.
When considering a specialization in business management, it is important to consider the curriculum and career opportunities for graduates.
Business Management Major- Overview
A specialization in business management can teach students how to manage, direct, plan, and control business operations, from the preparation of tax returns to the supervision of employees. Bachelor programs in business administration can be completed on campus, online, and in an accelerated format. Additionally, they can lead to a Bachelor of Science (BS), a Bachelor of Arts (BA), or a Bachelor of Business Administration (BBA).
Required skills
To excel as a business manager, you must have strong analytical skills. You must anticipate the demands that a company will face in the future. It is also important that you can work well with other people. You should be able to work with a variety of personalities. Employees will seek your leadership and motivation. You should be able to inspire employees to excel in their work during times of high pressure for the business. You may also need strong accounting skills if a company expects you to perform a budget analysis of its operations every month.
Responsibilities
In general, the responsibilities of business managers involve monitoring operations, reviewing contracts, and helping employees reach their highest levels of productivity. A business manager can also be called to supervise or train new employees. He or she may also need to help with planning certain events for a company. A business manager plays an important role in the operation of a company, and it is essential that he can deal with heavy loads of stress.
Types of Business Management Degrees
Students who are interested in business management should know the different business management specialties available. With the growth of so many online programs and universities, you can probably find an associate’s business degree, bachelor’s, or master’s degree online in one of these business specialties below:
1. Agricultural management degree:
Learn the management principles necessary to supervise an agricultural and/or livestock business with topics that include agricultural microeconomics, food and agriculture marketing, livestock biometrics, and agricultural research. At the master’s level, you can additionally focus on leadership in agriculture, statistics, education, and research methods.
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2. Applied management degree:
General management concepts can help students learn critical and analytical thinking skills, and how to apply those skills to the management of a company. Learn to communicate in a complex business environment, and apply human resources concepts. Additionally, typical courses may include global business, accounting, management strategies, marketing, commercial law, and finance.
3. Athletic Administration Degree:
prepares the student for a career managing and organizing various types of sports departments and sports teams. A common approach is sports leadership, where you study the concepts, theories, and skills that affect the leadership of sports organizations. Also study leadership styles, behaviors, and management techniques that allow you to lead and change a sports organization.
4. Degrees of Aviation Management:
prepares you for a variety of management careers related to commercial and military aircraft. Common approaches include avionics, airport management, and airway operations. At the bachelor’s level, expect courses in corporate aviation operations, flight school management, and airport planning. Additionally, at the master’s level, courses in systems analysis, personnel administration, and security protocols.
5. Biotechnology Management Degree:
Biotechnology work is based on tissue and cell techniques, diagnostic methods, and genetic engineering for many agricultural, medical, and environmental applications. The management degree in this field also deals with business management, marketing, economics, and leadership in biotechnology. Additionally, possible courses in bioinformatics, ethical and social issues, project management, and management accounting.
6. Business Administration Degree:
Multidisciplinary field that prepares students for business administration roles in nonprofit organizations, government agencies, and corporations. Typical courses include business law and ethics, marketing, accounting, finance, human resources, economics, and mathematics. Many offer specialties in accounting, marketing, finance, and supply chain management.
7. Business Intelligence Degree:
A good option for those interested in working with data and computers, as well as in administration and business. Business intelligence combines quantitative and analytical skills and management skills. Furthermore, some of the common courses in this program may include general information on business intelligence, database management systems, statistical learning, and business and language analysis.
8. Business Management Degree:
preparation for a business leadership position with typical courses that include finance, accounting, human resources, commercial law, communications, and marketing. Additionally, at the bachelor’s and master’s levels, other courses may include commercial law, entrepreneurship, marketing, diversity, and international business. Many graduates eventually work as business, sales, and finance managers.
9. Compliance Management Degree:
Identify possible problems related to ethics and legality in a company or other organization, and then correct these problems efficiently. Work with senior managers to ensure that there are strategies and rules to address financial, ethical, and legal issues before laws are violated. Compliance management generally involves working with the accounting and finance departments.
10. Degree in Construction Management:
Construction management theories, business strategies, and trends Acquire leadership skills in the financial and technological aspects of construction and management. Additionally, other topics may include important industry developments, the evaluation and approval of construction plans, legal problems in construction, and how to convert plans into buildings.
11. Degree in Corporate Finance:
Studies include investment banking, market regulations, cost management, accounting, fundamentals, international trade theories, and investment strategies. Furthermore, at the bachelor’s level, courses may include personal investments, performance evaluation, managerial finance, business finance, and/or income optimization.
12. Degree in crime and fraud management:
A degree in crime and/or fraud management will include courses in forensic accounting, internal audit, marketing, fraud examination, and organizational behavior. At the MBA level, expect courses in computer fraud, identity theft, financial fraud management, and financial statement fraud. Career options include audit specialists, loss prevention specialists, and fraud investigators.
13. Energy Management Degree:
Explore accounting and energy planning and understand various energy policies worldwide. You can also take business classes in administration and marketing for a career in land negotiation or financial analysis. Also expect to focus on lighting, renewable energy, non-renewable resources, and lighting.
14. Entertainment Management Degrees:
Provide students with skills and knowledge to work in management careers in the entertainment industry and also manage facilities that include sports event complexes, theme parks, theaters, cinemas, live music, art galleries, and streaming media companies. Furthermore, common courses include public speaking, entertainment business, law and ethics, event management, and space management.
15. E-Commerce:
Torn between business and technology? Combine the two. In the E-commerce program, you will learn about creating and maintaining businesses on the Internet. Whether your focus is on market research, product buying decisions, website design, financial security, or customer service, your role will constantly evolve and change because e-commerce is such a dynamic field.
16. Healthcare Management:
You don’t have to be a doctor or practice medicine to succeed and make money in the healthcare industry. A degree in Healthcare Management will prepare you for a leadership position in a hospital, nursing home, insurance company, nonprofit organization, or government agency. Additionally, you’ll learn to handle budgeting, scheduling, legal and ethical concerns, coordinating and supervising community programs, managing personnel, and improving patient care.
17. Marketing:
If friends would describe you as persuasive and captivating, Marketing might be a good fit for you. A degree in Marketing will cover online marketing as well as more traditional avenues such as print media, broadcast media, and direct mail. Additionallty, you will learn to collect and interpret data, follow trends, build brand awareness, and improve customer retention and satisfaction.
18. Project Management:
You could help your company operate faster and more efficiently. Through coursework in Project Management, you will collect and analyze data, prepare reports, develop project plans, procure resources, manage the budget, and assist with staffing decisions. Additionally, you will gain the experience necessary to handle all sorts of projects on time and within budget.
Benefits of studying business management
1. A good introduction to the realities of business
Quality business management study programs provide candidates with a useful overview of business realities. Particularly useful for those who have no previous experience, business studies provide the types of industry ideas that can be invaluable. Success in business management is based on a solid foundation of education and an understanding of how successful businesses are managed.
2. Become a more effective team player
The most successful business managers are those who fully understand the value and importance of teamwork. Contrary to popular belief, business management is not just about providing leadership as a “superior” member of the workforce. Instead, it is about doing what is necessary, even if that means getting your hands dirty, to do the job and optimize the performance of the organization. However, if he cannot function as an effective team player, he cannot and will not succeed in management.
3. Learn to manage people effectively
Of course, delegation and supervision represent two of the most important business management tasks of all. People management is not always as natural for some potential candidates as they expect. When you study business administration, you learn how to measure your expectations accordingly, build strong relationships with those you supervise, earn the respect of each member of the workforce and, in general, increase morale and productivity.
4. Work experience alone is not enough
In most business areas, work experience alone will take you to a certain extent. After which, employers expect and demand certain educational standards, in order to give candidates their consideration. Not only this but there are innumerable personal skills and competencies that you can only develop through specific business studies. As ambitious as your long-term career goals may be, you will find them much easier to achieve when studying business administration.
5. Get a competitive advantage
One of the most obvious advantages of studying business administration is to obtain an immediate and permanent advantage over the competition. Once again, employers and decision-makers increasingly show a preference for those who have demonstrated their commitment and potential in taking quality study programs.Â
A variety of career options
Last but not least, one of the greatest benefits of studying business administration is the wide variety of career options available. Once again, it is worth bearing in mind that all organizations in the world, both public and private, depend on capable and committed managers. When studying for a business management qualification, you immediately expand and improve your career prospects for life. Regardless of your current position and goals, nothing increases the value of a professional CV as a business management qualification.
Main business management requirements
To become a business manager, it is essential to have a four-year degree in administration, accounting, finance, or marketing. If you have a special certification, such as a CPA license, this can also be beneficial if you apply for a position as a business manager. Companies are now hiring people who can also help with financial operations. Therefore, you may need to perform compliance work for a company to ensure that it adheres to the recently approved financial regulations. Companies are also looking for people who now have a master’s degree in business or accounting. You should expect to get an MBA in administration or accounting at some point in your career.
Business management of the main universities
These are the best business management schools in the world:
1. Massachusetts Institute of Technology
The Sloan School of Management, also known as MIT Sloan, offers business programs at the university.
In addition to MBA courses, executive training programs, and other graduate degrees, the school also teaches undergraduate students through “Course 15”, which provides business skills to students with technical and quantitative backgrounds.
Classes present sets of problems that make use of real-world business cases and address them with scientific approaches. The course also provides opportunities to research and participate in entrepreneurship competitions.
Furthermore, business courses at MIT cover a variety of topics, including operations research, consulting, entrepreneurship, finance, information technology, product development, and marketing.
There is an emphasis on innovation in all these issues. Many new and influential ideas in business, including the field of systems dynamics, were born from work at Sloan School. Moreover, MIT is one of the most prestigious universities in the world. Based in Cambridge, Massachusetts, next to Harvard University, it is a center of innovation and entrepreneurship.
2. Stanford University
The Stanford Graduate Business School admits students for MBA, doctorate, master’s, and executive degrees. The dean of the school is Jonathan Levin, a recognized expert in industrial organization. In 2006, the school received what was then the largest donation granted to a business school: $ 105 million from Phil Knight, a former student and founder of Nike. Additionally, it is known that the Stanford Business School is the most selective in the US. According to the competition for acceptance in a course. Generally, less than 7 percent of applicants secure a place.
Graduate students can obtain joint degrees in other schools, combining business with subjects such as earth sciences, education, and law.
Although there is no specific administration and business program for university students, students may choose to specialize in economics, international relations, or science and engineering administration.
3. Oxford University
Undergraduate business students at the University of Oxford study economics and administration within the framework of traditional studies, and are taught primarily in small group tutorials. Additionally, Oxford’s academic business department is the Business School, which teaches business, management, and finance. The school is 20 years old, and quite new compared to other prestigious business schools around the world. The current dean, Peter Tufano, was at Harvard Business School before joining Oxford.
Furthermore, the graduate programs offered include the popular MBA program, an executive MBA program, a doctorate in management studies, and master’s degrees in financial economics, law and finance, and strategic management.
MBA students can also extend their one-year degree to combine the course with one of the specialized master’s programs.
Note that all business students are members of an Oxford University and participate in university life outside of business school. Although not all universities accept business students, most do.
4. Cambridge University
The University of Cambridge is composed of 29 separate colleges. The university also houses more than 100 libraries, which have a total of more than 15 million books. Additionally, business and economics degrees are usually taught at the Cambridge Judge Business School. The courses include an MBA, master’s in finance, Master’s in accounting, and a series of MPhil programs.
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5. University of California, Berkeley
The University of California Business School, Berkeley, is known as the Haas Business School. It is the second oldest business school in the United States, established in 1898.
Furthermore, Faculty members include two Nobel Prizes in economics. The school offers courses across the academic spectrum, including full-time MBA, evening and weekend MBA, executive MBA, master’s degree in financial education, and university degrees.
Additionally, it also organizes a summer program, which is a six-week intensive summer course that gives non-business students the opportunity to learn the fundamentals of business.
List of business management careers
Here is a closer look at the list of careers available to business managers. Or anyone with a degree in Business Administration
1. Business analyst
Business analysts spend their workdays collecting data on problems or procedures within a company. Then they analyze the information collected to conclude possible solutions or alterations. The new procedures are designed based on interviews with employees, on-site observation, and thorough study of company documents.
2. Account Manager
Account managers act as personal representatives of the organization to a client. They foster customer relationships, work with sales and marketing teams to find new customers, prepare presentations and sales arguments, and communicate customer agendas to the rest of the company.
Furthermore, depending on their employers, these professionals can work with individual clients or clients representing entire businesses. Monitoring budgets and explaining cost factors to customers are also part of this role.
3. Financial analyst
Financial analysts perform qualitative analyses of the finances and investments of a company. They compose charts, graphs, and spreadsheets; and forecast commercial, industrial, and economic conditions through the 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 its financial analysis.
4. Marketing Manager
Marketing managers estimate the demand for products and services offered by an organization and its competitors. They identify potential markets for the organization’s products and oversee a team that develops strategies to maximize profits.
5. Sales Manager
Sales managers are the professionals responsible for establishing the strategy behind sales initiatives and objectives. Additionally, they resolve customer complaints, prepare budgets, monitor customer preferences to determine the focus of sales efforts, and analyze sales statistics.
Furthermore, most sales managers direct the distribution of goods and services by allocating sales territories, setting sales targets, and establishing training programs for the organization’s sales representatives. This may also involve recruiting and hiring new sales staff and evaluating their performance.
Jobs that are directly related to your degree include:
- Actuarial analyst
- Arbitrator
- Business advisor
- Business analyst
- Business development manager
- Chartered Management Accountant
- Corporate Investment Banker
- Data analyst
- Data scientist
- Forensic Accountant
- Insurance insurer
- Administration Consultant
- Project manager
- Risk manager
- Stockbroker
- Purchasing manager
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Business Management degree Salary
According to the Bureau of Labor and Statistics, the average salary of a business manager is approximately $ 77,000 a year. The position is expected to grow at least 15 percent in the next ten years. Companies will face greater demands as they try to adapt to online commerce. Therefore, if you have a specialized knowledge of online sales, you may be able to easily find a position as a business manager. Companies will also look for people who have an accounting background and can reduce the costs a company faces.
Business and administration jobs with the highest salaries
1. C-Suite Executives
The workers at the top of the big organizations are the executives of the C-suite, named because their titles start with the letter C. That is C as CEO, CFO, and CIO, which means executive director, chief financial officer, and chief executive officer. of information, respectively.
There are also other possible c-suite titles: the ones you will find may vary depending on the field you are in. For example, you can find a nursing director, or CNO, in a large health system, or an accounting director (CAO) in a corporation with a large and complex accounting department.
These jobs may be among the most generously compensated titles in Business and Administration. For example, in 2015, the average annual compensation for C-suite executives at Fortune 100 companies was around $ 7.4 million, plus profits!
2. Sales managers
You may not be interested in fixing your view on a C-suite title, but you still want a job that is very well compensated. If you can see yourself successfully running the sales team of an organization, you could have a brilliant and lucrative career as a sales manager.
You will be qualified for this position with a degree in business law, administration, economics, accounting or other business-related specialty. The average annual salary of sales managers was $ 117,960 in 2016, and the highest-paid 10 percent earned more than $ 208,000.
If this is interesting, there is good news: the demand for sales managers is likely to remain stable over the next decade. The Bureau of Labor Statistics (BLS) predicts that demand will increase by approximately 7 percent by 2026.
High-demand businesses and management jobs
1. Management Analysts
If you can see yourself advising managers on how to increase profitability and efficiency, working as a management analyst could be an excellent option for you. The outlook for this work is strong, with a projected growth rate of around 12 percent by 2026.
And you would also earn a great salary. Management analysts (also known as management consultants) earned an average salary of $ 81,330 per year in 2016.
To enter this field, you will need a bachelor’s degree in a field such as business, administration, or economics. You could also increase your prospects for progress by obtaining the Certified Management Consultant (CMC) credential.
2. Market Research Analysts
Market research analysts work in one of the fastest-growing careers, according to the BLS, with a projected increase of 23 percent from 2016 to 2026. This rapid growth is due to the fact that most industries use market research to evaluate and develop marketing and business strategies.
A bachelor’s degree in market research or a related field such as business administration is the entry-level education required for these jobs. With that degree, market researchers generally earn the average annual salary of $ 62,560, while the highest 10 percent earn more than $ 121,720 per year.
List of short business management courses.
This is a comprehensive list of Short Business Management Courses for you to try out:
1. International Business
San Francisco State University
San Francisco, California, United States
12,091 EUR/full 9 months
Full-time
2. English for Professional Purposes – Business
Columbia University
Manhattan, New York, United States
4,160 EUR/full 3 weeks
English Course Full-time
3. Business English
University of California, San Diego
San Diego, California, United States
1,850 EUR/full 1 month
English Course Full-time or Part-time
4. ACP International Finance
UCI Continuing Education
Irvine, California, United States
7,128 EUR/full 3 months
Full-time
5. Supply chain management – Be global
Coursera
Online
2 months
Certificate
Part-time
6. Regulatory Compliance
Coursera – the University of Pennsylvania Online
1 month
Short Course
Part-time
7. Import Export (International Trade)
International Career Institute (ICI)Online
996 EUR/full ½ year
Short Course
Part-time
Featured
8. Business Transformation with Google Cloud
Coursera – Google Cloud
Online
1 week
Part-time
9. Digital Marketing
University of California, San Diego
San Diego, California, United States
5,414 EUR/full 3 months
Full-time
10. High Stakes Negotiations Master Business Course
Growth Institute
Online
2,518 EUR/full 3 months
Short Course
Full-time
11. Legal English for Business
University of California, San Diego
San Diego, California, United States
1,850 EUR/full 1 month
English Course Full-time or Part-time
12. Postgraduate Certificate in Financial Investments and Trading
London Academy of Trading
London, England, United Kingdom
5,278 EUR/3 full month
Short Course Full-time
13. Successful Negotiation – Essential Strategies and Skills
Coursera – University of Michigan
Online
2 months
Part-time
14. Entrepreneurship
Coventry University
Coventry, England, United Kingdom
2,340 EUR/full 3 weeks
Full-time
15. Business English
UCI Continuing Education
Irvine, California, United States
2,256 EUR/full 2 weeks
Full-time
16. Business Analytics
University of California, San Diego
San Diego, California, United States
6,316 EUR/full 3 months
Certificate Full-time
17. Global Challenges in Business
Coursera – University of Illinois
Online
8 months
Short Course
Part-time
18. Global Leadership Development
Coventry University
Coventry, England, United Kingdom
2,340 EUR/full 3 weeks
Full-time
19. Scaling Up Master Business Course
Growth Institute
Online
2,518 EUR/full 3 months
Short Course
Full-time
20. Digital Business Transformation
Frankfurt School of Finance and Management
Frankfurt am Main, Germany
4,300 EUR/full 5 days
Short Course
Full-time
21. Healthcare Trends for Business Professionals
Coursera – Northeastern University
Online
4 months
Short Course
Part-time
Application Link
22. Leadership and Management
University of California, San Diego
San Diego, California, United States
5,414 EUR/full 3 months
Full-time
23. intech – Foundations and Applications of Financial Technology
Coursera – University of Pennsylvania
Online
1 month
Short Course
Part-time
24. OuthinkThe Competition Master Business Course
Growth Institute
Online
2,518 EUR/full
Short Course Full-time
Business Management
University of California, San Diego
San Diego, California, United States
10,828 EUR/module ½ year
Full-time
Conclusion
Business management and administration is one of the world’s leading courses, it’s importance in our day-to-day activities cannot be over-emphasized. Therefore, you might want to consider studying business related course to be able to expand your horizons as well as become more relevant in today’s market. The short online courses here will help to cut the time for you, where you will be able to study business courses and obtain a printable certificate in a short time and in the comfort of your home.
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