For a nation’s economy, the growth of businesses is extremely important. However, the processes involved in a business are complex. It is the way in which administration of a business is handled, which governs the success parameters of a business. There are numerous factors to be kept in mind while handling a business. It is important that there is a person who has expertise
What is business management?
Businesses have a platter of activities that have to be kept in line for the proper functioning of the business so that it grows in all respects and achieves a name in the market space. In a country like India where many start-ups dwell but are never able to sustain in the market, one of the major reasons for the downfall of many companies can be a failure in the administration of the business and its activities.
The dynamics and success factors are extremely difficult to understand according to the different markets, where the frequency of the changing market demands is very high.
Business management deals with management and handling of all the business activities that include and pertain to customers, the supervision and administration of finance, accounting, and marketing aspects of a business.
Business management has emerged as one of the major career options against the mainstream career prospects like engineering and doctoring.
Many career guides have stated that business management is the next big career option for all students who have the interest and passion to study how businesses work in the real world and complex market scenarios.
Students, who have developed a curiosity for learning business administration and management, have started taking business management as a serious career opportunity.
A person holding a degree in business management would mean a person has a broad understanding of specific business-related aspects such as customers, marketing plans and strategies, account management and business plans and strategies. In terms of income as well, business management is a great option to explore.
Let us get into the understanding of the skills, degrees and jobs available for business management.
There are various concepts related to business management that are enlisted below:
Business operations are a set of activities that reoccur and enhance business operations, leading to a better value of investment for the stakeholders of the business. Business operations involve a set of business processes that aim to achieve a particular goal.
Business processes would mean a set of activities targeting a particular goal to deliver a service or product. There are separate business processes for operations, management and support.
Eligibility Criteria and Degrees in Business Management:
Undergraduate Business Management Courses
Entry Level: 10+2
- Bachelor of Business Management (BBM) – Deals with the management aspects of a business such as finance management, operation management, etc. It allows a student to acquire knowledge about managerial decisions.
- Bachelor of Business Administration (BBA) – Deals with the administration of a business.
- Bachelor of Business Studies (BBS) – Though similar to BBA, it deals with understanding the business management aspects with practical knowledge.
A person aspiring to undertake a course in business management should have the following skills/ interests:
- Leadership qualities
- Good communication skills
- An ability to be involved with the team
- Capability to sustain pressure and to handle people under stressful situations
There are a number of jobs where a business management degree is useful:
- Sales executive
- Logistics and distribution manager
- Human resource manager
Importance of choosing Business Management Studies:
Scope for improving business knowledge and skills
For a business, it is important to make sure that critical decisions can be taken correctly. Business management courses teach the skills required for handling such decisions that are best suited for the organization. Such courses also teach how to predict the future, based on the current situations.
Opportunities to meet peers and build a network:
Businesses often require you to meet some great experts of the industry as well as people who have knowledge of the fundamentals of business management. It is a great opportunity to meet such people, grasp what they have to say from their experience and knowledge and enhance one’s business management knowledge. Being acquainted with such people more than often leads to good opportunities.
Acquaintance with practical knowledge:
Studying business management involves getting a taste of practical exposure with respect to different aspects of business management in various fields like operations, economics, etc. This ensures that students can adapt to any situation at hand and take the best decisions under any circumstances.
An ample number of good job opportunities:
Having studied business management, one can attain a job opportunity in any sector of the market. Business management studies also provide jobs in mid-level and upper-level management positions in various sectors such as banking, fashion, medicine, media, etc.
For a business to work efficiently, teamwork is necessary. It is important that every team member co-ordinates with each other and contributes to the growth of the business. Such teamwork is necessary even when one is in a higher position. Thus, business management studies induce teamwork in an individual.
With business management studies, one learns to manage people with respect to understanding the problems, issues and grievances of the employees, motivating the employees to work better and what each employee can deliver. Such aspects help the business operations to work efficiently in order to achieve a common goal.
Without the knowledge of business management, it is difficult to fill higher-level positions in an organisation. Thus, business management studies help you to grow your career and create prospects to become future business leaders and become influential in the business management world.
Business management studies, hence, make individuals knowledgeable in various aspects of business handling, for example, finance, operations, etc.
All these factors make business management studies extremely important and a viable career option with bright job opportunities in the future.
The competition in the market is fierce, where everyone is finding courses that can pave way for a bright future with a good salary and one that creates an identity of an individual in an organization.
Qualities gained after doing Business Management Studies-
Business Management studies induce leadership qualities in students.
Understanding how to unite the team members and make them work together for achieving business-oriented goals.
Business management courses help students think about marketing strategies that are innovative and help businesses to grow rapidly.
Future Prospects for Business Management Studies:
Focusing on areas such as business and economics operations etc., graduates of business management studies are highly equipped with knowledge of handling business-managing employees and making them highly sought-after graduates in all sectors of the industry.
Graduates of business management studies have gained employment in a wide range of sectors in the business world such as marketing, sales, retail etc.
Business management studies provide career opportunities in public and private sectors such as teaching and media, marketing and those people who built up their own businesses.
According to a study conducted in 2009 graduates of business management studies, almost 65% gained full-time employment of those 65%, 22% are in commercial and public management sector while 14.8% worked as health professionals, 14.4% work in retail and 12.5% graduates work in the marketing sector.
Companies from all sectors look for graduates that have great leadership qualities and hold them in high regards, offering them great salaries.
Why should you choose Hughes Global Education for Business Management Studies?
Hughes Global Education is a training initiative to enable individuals from different horizons of the society to engage themselves in pieces of training that offer on-site lectures via the satellite-based learning program. This is a unique classroom-learning training program that has 155 classrooms across 75 cities.
Thus, learning business management studies with Hughes Global Education is an opportunity to study business management courses in an interactive way with one-on-one real time on site learning.
Consider business management as a career option:
Nowadays, even institutions provide special guidance to students so that they can build their businesses at an early stage of their careers.
Moreover, business management courses help to build the personality of an individual that make a mark in front of all the greats of the industry.
These courses not only help to develop leadership skills but also lend a competitive edge in front of future employers.
Business management courses help students to take up responsibilities and have an impact on your work. With team building skills, business management studies enhance the productivity of the business and provide stakeholders with profitable business. The marketing skills of such business management graduates are impeccable.
Thus, viewing business management as a prospective career for students who want to pursue out-of-the-box careers and have relevant passion and skills can enter business management and pave the way for their bright future.