Business management or business administration degree programs are becoming more and more popular as the years pass. In a world ruled by the market, there are products and businesses popping up left, right and centre, and the need for individuals who will manage them is increasing as well.
According to businessdictionary.com, ‘business management’ is defined as ‘the activities associated with running a company.’ These include leading an organisation, monitoring performance, activities and employees and planning for the different aspects of a business.
Business management courses normally cover a wide range of topics such as finance, economics, accounting, organisational management, human resources and marketing. Focus on key business principles will be established during the course of the program, while also maintaining emphasis on communication and entrepreneurship.
Along with a general curriculum, the courses taken during a business management program will allow the students to be assessed through lectures, practical work and examinations. A significant number of these will be written, although business management degree programs usually include application of lessons through actual activities related to business management such as product development and proposal and execution of projects in the later years of the program.
Due to the wide topics covered during a business management degree program, students are also likely to be able to take a specialisation’s through electives or ‘tracks’ as offered by numerous institutions. Specialisations will be discussed later in the article.
Entrance into a business management degree program varies from institution to institution. Some universities require you to take an entrance exam, while some will take into consideration national or standard exams. For a complete list of requirements, you are advised to check out or contact the institution you are interested in applying to.
As mentioned earlier in the article, specialisations are available in a number of institutions. This may be a required part of the degree program for business management or it may be optional, depending on the institution. Below is a short list of common specialisations offered by universities:
The accreditation of a degree usually depends on the country where the degree is awarded. In most cases, countries have their own accrediting systems for universities, students and graduates. Please check with the institution you are interested in for their accreditation details.
A degree in business management can take anywhere from three to four years. The exact period of time would depend on the university of your choice and the country wherein it is located. It may also depend on what type of degree is being awarded.
Business management degrees can often be taken as a double degree with another focus, such as economics or finance. Typically, double degrees are expected to take longer, while associate degrees take a shorter amount of time to complete than a bachelor degree.
There are also various degrees available for those interested in business management at the master’s and doctorate level. In most cases, a master’s degree in business management is under the category of an MBA. Business managers who want to get an edge and more knowledge often pursue graduate studies.
All businesses need people to manage them. Whether you want to start a business of your own or learn the ropes of running a restaurant, a business management degree is guaranteed to teach you what you need to know.
Something that also contributes to the presence of business management graduates in numerous sectors is the amount of transferrable skills that are gained by a student of business management throughout the whole degree program.
Business management graduates are expected to have gained good communication and persuasion skills, research and market knowledge, and creativity. They are also known to have good presentation skills, strategic thinking and financial competency. An added skill is the ability to understand organisational behaviours and structures.
Because of this, there are many directions you can take if you choose to pursue a degree program in business management. Some non-managerial positions of business management graduates include human resources officer, consultant, analyst and banker. Business management graduates are present in all fields and sectors.
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