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Business Management

BENEFITS OF STUDYING BUSINESS MANAGEMENT

What is business management?

Business management focuses on the organising, planning and analysing of business activities that are required to efficiently manage and run a business.

Business administration or business management is a career field that focuses on the planning, analyzing, management, and organizing of various business activities and financial needs of an organization. Business administration is a very versatile field and obtaining a degree in business administration can be used on a professional level that is, as an employee or for independent and personal purposes that is, operating your own business too.

While studying business administration, you will learn what makes an organisation successful in a saturated global business environment and will gain the knowledge and skills required to work for businesses of all sizes – from multinational companies to start-ups.

Why Study Business Management?

For the aspiring entrepreneurs and business leaders, a business management degree is consistently a popular choice. It provides the academic knowledge and skills to pursue global career opportunities and helps you develop a broad understanding of businesses and specific areas such as finance and human resources. But if you’re still not 100% sure if a business management degree is for you, here are five reasons that will convince you.

i. Develop key management skills

One of the biggest highlights of studying a business management degree is the key management skills that will allow you to be a valuable asset to any organisation. You will build a skill set to respond to challenges and current developments in business and society, giving you the ability to make informed managerial decisions that consider ethical, economic and social implications. Some of these essential business management skills include:

critical and strategic thinking

communication

problem-solving

organisation

presenting

reporting

leadership

project management.

ii. Employability

Students who choose to study business management at university graduate with highly desirable transferable skills and strong business knowledge, two things that are sought after by potential employers. As you progress through your business management degree you will be able to shape the direction of your career, choosing a specialist area of business that interests you such as entrepreneurship or human resource management. Graduates of business management are presented with a variety of job opportunities in:

Management

Consultancy

Marketing and Advertising

Human Resources

Retail and Sales

Finance.

iii. An introduction to the business world

A business management degree will help you gain in-depth knowledge and understanding of the core elements of business and management. It’s also a great introduction into the world of business if you have no prior experience. It provides industry insights, such as market trends and industry reports, which can prove to be invaluable and you will be encouraged to apply academic theory to real-life business situations that will help you kick start your career once you graduate.

iv. Be your own boss

Not only will you have fantastic career opportunities after you graduate, but you will also have the core elements to start your own business – all you need is a business idea to get you started. Through developing your entrepreneurial skills and being able to test launch any business ideas you might have, a business management degree puts you on the path to be your own boss – you might even meet your future business partner at university.

Universities such as Lincoln College of Science and technology, offer specialist extracurricular activities to help keen entrepreneurs who want to start their own business. You can take advantage of inspirational guest speakers who run multi-million pound businesses and even pitch your business ideas to expert judges through the University’s annual Bright Ideas competition.

v. Learn about multiple disciplines

If you’re not 100% certain on what you want your future career to be, or you just want to have a broad knowledge, then a business management degree is an excellent choice. You will learn an overview of the main business functions that contribute to the success of a business and then often be able to specialise in an area of your choice. These typically include:

  • Human resource management
  • Entrepreneurship
  • Finance
  • Service operations.

written by: Adeniyi Sarafadeen