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, business analyst or administrative manager. If you want to advance your management skills and continue to advance in your career, 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 way that’s aligned with its mission and values. The goals of a company are generally to create a profit for the business and its shareholders and to develop innovative products or services for consumers.
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 an 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:
- 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: This includes management of sales teams, accounts and territories.
- Marketing management: This specialization is responsible for the management of campaigns, brands and promotional initiatives.
- Operations management: Operations management oversees the production of goods management of the production of goods or execution of services.
- Supply chain management: This includes 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: Project managers oversee 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 a 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 to help students hone their management skills. A business management program may be a bachelor’s degree or a master’s degree. One option is the Bachelor of Science in Business Management degree program, or a similar bachelor's program in:
- Applied entrepreneurship
- Applied management
- Business administration
- Entrepreneurial studies
- Health care administration
- Hospitality management
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, for example, you may want to major in.
If you decide to further your academic qualifications with a master’s degree, you could pursue 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. If you’re currently working, evening and online degree options are available through many different colleges and universities so you can further your education while maintaining your career during the day.
Is a Business Management Degree Right for Me?
A business management degree can appeal to a wide range of people due to its versatility. With this academic credential, you may pursue job opportunities in virtually any industry. 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 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 any 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 on-campus and online 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!
The views and opinions expressed in this article are those of the author’s and do not necessarily reflect the official policy or position of Grand Canyon University.