Business management is one of the most popular fields of study at university or college level in the world. This is true for both undergraduate and graduate programs. In response to this huge interest, educational establishments have developed unique programs spanning a broad range of different areas of business. Often, therefore, they have added possible specializations to their courses, such as marketing, economics, administration, finance, and accounting.
The gold standard of business management degrees is the MBA (Master of Business Administration), which is a graduate degree created for those who have gained a lot of professional experience in the world of business management. The MBA is an expensive degree, but it is also one with a tremendously high return on investment. The MBA is not the only graduate degree in the field of business management, however. Various other master’s programs exist that require a much lower investment and that do not require as many years of professional experience. These graduate degrees also allow students to become specialized in a certain area of business.
Why Study Business Management?
You may be interested in taking on a management position in a certain business. Alternatively, you may start your own business. Or you could be looking to work for federal or local government. Either way, studying business management can help you significantly improve your skills and knowledge, thereby increasing your career opportunities as well. Basically, if you are interested in any position that requires skills in business administration, studying business management can be beneficial.
Degrees exist at a variety of levels (certificate, diploma, associate’s degree, bachelor’s degree, master’s degree, doctoral degree), which is also reflective of the different levels of work. Entry level management positions generally require a bachelor’s degree, whereas graduate degrees are needed for senior and executive positions.
Whether a business succeeds or fails is down largely to how high the quality of management actually is. Whether you want to manage an entire business or head a specific department, you should be aware of the various fields of management that exist. Regardless of what level you study at, and whether you study towards the sciences or the liberal arts, you will be provided with the fundamental and foundational skills required to understand the different business processes. So what are the different types of business management degrees and what types of management degrees are available?
Business Administration
A bachelor’s degree in business administration will provide you with an overview of the different foundational management concepts. You will study elements such as marketing, finance, and accounting. Additionally, you will learn about different styles of management, and how these match to certain models in business. You will also learn how to lead and motivate staff through classes in organizational behavior and human resource management. Put together, this degree will show you how to be an integral part of the team.
Then, there is the MBA program. This goes more in depth into the field of business management. There are many different concentrations to choose from, including environmental management, entrepreneurship, and global leadership, and many others. You may also have to complete a thesis in order to graduate from the MBA. Most schools also require team projects, and some schools include a study abroad option to ensure you can gain real life experience.
E-Business Management
The field of e-business management tends to be a specialization within an existing bachelor’s or master’s business administration degree. With this particular major, you will learn how information systems can be used to maximize profits within a business. Some other areas of focus include programming concepts, like user-interface technology and control functions. Put together, this can help you to increase productivity.
Supply Chain Management
Both bachelor’s and master’s degrees in supply chain management give students the skills they require to take part in a range of different careers. You will be given various competencies such as inventory control supplier negotiations, product development, transportation management, and customer relations. You will learn about evaluating the quality of materials and the price, and how these relate to each other. Additionally, you will learn how to make sure the logistics of delivery of products is organized properly. If you study this at master’s degree level, you will be able to take on more senior positions, including directors, in different organizations.
The field of supply chain management is incredibly wide and includes positions, such as buyers, merchandise managers, and purchasing managers. They are often employed by manufacturers, who look for professionals who can help procure necessary raw materials. Others work in retail or wholesale.
General Business
General business is the mos popular concentration in business management, mainly because of its general nature, which means you can take it in any direction. It is generally offered at MBA or masters degree level, whereby you will be able to learn about every aspect of running a business. This degree is designed for those who want to become managers, and you will take courses in developing leadership qualities, employee management, and team building.
Construction Management
Construction management is also available at both undergraduate and graduate levels. If you complete an advanced, graduate degree, you will be ready to take on senior management positions in a large construction firm and other businesses. Your studies will start by looking at elements such as contracts, codes, laws, and construction methods. Then, you will learn about finance and business, such as calculus, macroeconomics, and accounting. At undergraduate level, you will focus on ordering materials, scheduling projects, and preparing work. You will also complete various communication courses, which enables you to understand areas such as contract negotiation and customer relations.
Finance
The field of finance is for those who are truly disciplined. You must have an eye for detail, like numbers, and be accurate with data. Your background should be strongly in finance if you hope to achieve a high position with institutions, such as banks, investment first, finance departments, and other financial institutions. Investment banking is particularly popular for those who have a masters degree in finance, and particularly at graduate level.
Marketing
One of the most important people in any business is the person who is responsible for marketing. While there is a strong focus on sales management, marketing is about a lot more than that as well. For instance, marketing managers coordinate sales, deal with public relations, and hold responsibility for the management of advertising. Essentially, they can be involved in any department within a business, for profit or nonprofit. The subject of marketing teaches students how to identify customer need and demand, using strong market research. Graduates will hold responsibility for increasing sales and for providing feedback on the market to each department within the organization.
Accounting
Accounting is a very popular field of business management studies. Very strict laws govern how a company can be financially managed. If they fail to comply with the generally accepted accounting principles (GAAP), then they can face severe punishments from government. If accounting practices are not followed properly, the entire company will become more inefficient. This is also why most people who study towards an accounting concentration already have an aptitude for the subject.
Information Technology
Information technology is all around us, and it is impossible to do without it anymore. All services and products are related in some way to information technology. If you hold a degree in business management with an IT concentration will leave you in very high demand, particularly with large organizations. Information technology systems are absolutely critical to the running of a business. IT professionals keep records of consumers, suppliers, and employees in a way that is completely secure and available for reports in real time. It is impossible to manage this system without someone who is qualified to understand both the principles of management and the principles of information technology.
Besides full degree programs, you can also choose to take part in bridging courses, graduate certificates, diplomas, and more that will improve your accessibility to certain employment opportunities. You can also decide to combine different elements of business management. For instance, some people study towards both finance and marketing.
Additional Resources
- Guide to a Master’s in Accounting
- Why Earn a Masters Degree in Management?
- 15+ Most In Demand Online Master’s Degrees
- 15+ Highest Paying Graduate Degrees
- Different Types of Business Degrees
- 10 Best Paying MBA in Accounting & Finance Careers
- Why Get a Masters in Business Degree? + No GRE Options!
- Online MBA Programs with No GMAT/GRE
