Business Management



The kinds of skills acquired in a business management program will prepare candidates to work in a variety of business and industry. Qualified candidates can work in the manufacturing, retail or service industries, as well as for non-profit and for-profit organizations.

Business managers often are tasked with helping a business to develop a plan for success and then help to carry it out. They may be asked to help a company expand its market or increase its profitability. Because of the nature of the career, business managers are expected to have knowledge in the areas of sales, marketing, public relations, research, operations analysis, math and economics, finance, accounting, budgeting and personnel.
 
Education Requirements

An associate degree in business management takes up to two years to complete and covers the basic principles of management, business law, financial management, organizational behavior and marketing/public relations. Associate degree programs are offered by community colleges, technical schools and some colleges and universities. They are seen as a stepping-stone toward a more advanced degree, which will be required to hold most positions within the industry.

Bachelor degree programs in business management take four years to complete. They include the basic foundation of business management that is taught in most associate-degree programs and build on it to add skills in interpreting financial statements and business data, the fundamentals of communication and teamwork, the corporate and global business environment and the technology commonly used in completing these tasks.
 
Master degree programs in business administration will take an additional one to two years beyond an undergraduate degree to complete. As a graduate-level program, it will focus on providing students with a broad business education centered on management, leadership and critical-thinking skills. Candidates who possess a graduate degree will have more job opportunities available to them, including in the banking, financial, marketing and accounting fields.

Doctorate degrees in business administration are available, but generally only required for those who wish to teach business administration at a college or university.

Due to the nature of the coursework being taught, business administration programs lend themselves to being taught fully through an online program. Some colleges and universities also offer traditional classroom settings, as well as a combination of traditional and online courses.

It is important to choose a program that has been accredited through a reputable accrediting agency. The U.S. Department of Education provides a listing of all qualified accrediting agencies within the United States. Accredited programs are both rigorous and relevant, and credits from their programs are more likely to be easily transferred to other institutions.

Future Outlook

Demand for business administrators is directly linked to the growth of the economy, according to information compiled by the U.S. Bureau of Labor Statistics. At present, demand is expected to increase by 9 percent over the next decade, which is average compared with other business and industry during the same time period.
 
The average annual salary for a business administrator is $109,740.


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