A degree in business management can open many doors to you after graduation. Graduates who hold a bachelor’s degree in business administration or management can pursue entry-level job openings, such as sales manager, production manager or administrative manager. If you want to continue climbing the corporate ladder, you may wish to earn your master’s degree in the field. With a master’s degree, you may be qualified to pursue high-level positions, such as executive roles in the C-suite.
Definition of Business Management
Business management has a broad definition. Essentially, it involves organizing the company’s people, resources and activities with the goal of accomplishing the company’s long-term objectives in a manner that is aligned with the organization’s mission and values. The goals of a company are generally to create a profit for the business and its shareholders, if applicable, and to develop innovative products or services for consumers.
Note that many business management professionals work for nonprofit groups. In a nonprofit, the goal is to connect a particular population to needed resources in a fiscally responsible manner. Nonprofits are beholden to their supporters and donors, and they must use their financial resources in a highly ethical manner, reducing overhead whenever possible so that more resources can be used to serve the target population.
Types of Business Management
Since business management is such a broad field, it’s not uncommon for professionals to specialize. There are many specializations to choose from, including the following:
- Strategic management: Typically performed by higher-level executives, strategic management involves planning and implementing strategies designed to enhance the company’s competitive advantage
- Sales management: The management of sales teams, accounts and territories
- Marketing management: The management of campaigns, brands and promotional initiatives
- Operations management: The management of the production of goods or execution of services
- Supply chain management: The management of the logistics of supply lines and sales (i.e., bringing raw materials to a factory, and then bringing the finished products to the consumer)
- Project management: The planning, organization, execution and assessment of projects
In addition, some professionals choose to specialize in human resources management. In this capacity, they recruit, hire, train and develop the company’s employees in a manner that is aligned with the organization’s growth objectives.
Types of Business Management Degrees
Universities typically offer many different versions of business management degrees. A business management degree may be a bachelor’s degree or a master’s degree. For example, at GCU, you may choose to enroll in the Bachelor of Science in Business Management degree program, or in a BS program such as the following:
- Applied Entrepreneurship
- Applied Management
- Business Administration
- Entrepreneurial Studies
- Health Care Administration
- Hospitality Management
As you can see, there are many options to choose from. Before you settle on a particular bachelor’s degree, you may want to speak with a career counselor to get a sense of the types of jobs that you may be qualified to pursue with any given degree. In addition, consider your own passions and interests. If you would like to open your own bed and breakfast inn someday, for example, you may want to major in Hospitality Management or Applied Entrepreneurship.
If you decide to further your academic qualifications with a master’s degree, you will likely apply for a Master of Business Administration (MBA) degree. An MBA degree program is widely considered to be the gold standard academic credential for future business leaders and executives. As with the baccalaureate level, you can choose an MBA with a specialization that aligns with your career interests.
Signs a Degree in Business Management Could Be Right for You
A business management degree can appeal to a wide range of people because it is so versatile. With this academic credential, you may pursue job opportunities in virtually any industry, from healthcare to automotive to retail. This degree can also open up opportunities within all sectors, including governmental agencies and nonprofits. A degree in business management might be the right choice for you if any of the following statements apply to you:
- You’re a good listener who believes you can learn something valuable from everyone you meet.
- You take the time to consider every possibility and to review all available information before you make a decision.
- You’re committed to using ethical judgment and decision-making to ensure your organization stays on the right track.
- You can stay focused under pressure, are able to think on your feet and stay calm even in the midst of challenging situations.
- You can work well with people with all types of personalities, from all backgrounds.
If you’re still not sure whether a degree in business management might be right for you, consider talking to a student advisor or career counselor for personalized guidance.
You can prepare for your future by earning your bachelor’s degree at Grand Canyon University. The Colangelo College of Business offers multiple degree options in this field, including the Bachelor of Science in Business Administration and Bachelor of Science in Business Management degree programs. Working professionals who are interested in furthering their career prospects may earn a Master of Business Administration (MBA) at GCU, with the option to specialize in areas such as cybersecurity, health systems management and project management. Click on Request Info today to begin!