Business management is a field of study which encompasses the different types of management positions which could be in independent corporations or independently-owned businesses. Business administrators are usually needed in any organization which is made for profit purposes in order to control the affairs of the business in a positive way.
The business management courses prepare students for an advanced career in business by equipping them with skills that are used in analyzing and communicating effectively in real-life situations. Business administration is related to economics, accounting and also finance hence, students studying business administration must surely have knowledge of these related courses.
Communication is very essential in business management and it is an important skill that needs to be acquired if one wants to take up a career in business administration in the future. Another important skill is an organization, a business administrator would have to work with so many people and without organizational skills, and it would be difficult to achieve the desired results. Other skills include; team player, analytical thinker, and so on.
Course Requirements and Outlook for Business Management and Business Administration
Business administration and business management have similarities but they are quite different when looking at closely. Business management deals with managing and directing the operations of an organization while, business administration deals with the daily efficiency report of an organization. Many companies rely on the skills of business managers to deal with issues regarding the management of the company either in finance or structure. Both business administration and business management have core courses that are offered to students which include; economics, finance, accounting, and marketing.
Business management deals more with the human aspect of running a business or enterprise and students studying a degree in business management are expected to take courses in human resources, information system, management studies, logistics, and also information all of which are paired up together with the core courses of the degree. A business management study prepares its students to be motivators, team leaders and also learn how to perform their tasks efficiently.
Some of the business management bachelor or undergraduate degree courses offered in the university include;
- Dynamic team development
- Organizational behavior analysis
- Accounting for business managers
- Financial decision making and risk management
- Business laws and ethics
Other business management associate degree courses which students can check to get a better understanding of the business management courses to include;
- Business analysis and intelligence
- Principles of finance
- Customer service
- Human resources management
- Functional and project management
These are the Top 5 Study Destinations
Choosing where to study for your MBA is a very big decision to make since studying internationally entails a lot of struggles and changes. There are many world-leading business schools which African students can apply to study MBA courses and although, each country has its own specific rules and requirement as they all have one thing in common and which is that, they provide some of the best business schools for international students. Here are 5 top destinations for your perusal:
- United States: This study destination tops the list of the best destination to study business management. The United States is home to some of the best business schools such as; Harvard business school, Stanford graduate school of business, Columbia business school, Northwestern university’s Kellogg school of management just to mention a few. There are also many career opportunities that are made available for business administration graduates. The financial times’ top 100 states that the United States has more MBA programs than any their place around the world. Regarding the cost of living, it is averagely affordable since students are allowed to work and study for a duration of hours each week and this, in turn, supports their living expenses. Tuition is also affordable and there is an availability of scholarships that students can apply for in supporting their tuition.
- Canada: This country also has a very high rank of MBA courses in its institutions. Also on average graduates of business administration are expected to receive a salary of about $100,000. Canada is a friendly country and also welcoming to international students and this has made it possible for continuous growth in the country’s economy and the tech industry. Among the top business schools in Canada include; Ivey business school of the University of Western Ontario, York University’s Schulich school of business, and Desautels faculty of management at McGill University. Canada makes available work permits for MBA graduates in order for them to start working at any firm of their choice upon graduation.
- United Kingdom: The United Kingdom offers MBA programs for a duration of one year and this drastically helps students to cut costs and also other financial expenses related to schooling. London, one of the bustling cities in the United Kingdom is home to the famous London Business School and the city also is known as the banking hub of Europe with its ever-growing fintech industry. Also outside London, there are many other affordable MBA programs that students can take up and it doesn’t require spending so much money. The United Kingdom is also very accommodating to foreigners and London is like the major hub of people trooping in from the different parts of the world. The country is affordable to live in and tuition fees are also moderate and supported by the government.
- France: In Europe, France is known to be one of the countries with a stable economy that keeps getting better each year. Paris is the country’s major business hub and hosts many fintech companies of a larger percentage when paired with other areas of the country. Some of the top-ranked business schools in France include; HEC Paris and ESSEC business schools both of which are situated in Paris. There are many big companies in France that are always recruiting for business management graduates and among such companies are the famous L’Oreal, Peugeot, AXA, and Renault. studying and living in France is a dream come through for many Nigerian students aside from the business school, Paris is also known as a major center for an art exhibition, tours and other events which are fun for students. The cost of living in France can be quite high but above all, it depends on the location and lifestyle of the student.
- Switzerland: The quality of life in Switzerland makes the country a great choice for many international students. The government of the country also places a large amount of focus and spends a lot of money on its educational system in order to give out only the best. The finance of the country is also stable and it has a lot of international business hubs such as; Nestle, McDonald’s, and Nissan. Switzerland is very neutral and welcomes foreigners from different parts of the world to come and study or work in the county, this makes sit very convenient for international students to live and study in the country. Since the government pays a lot of attention to education, the cost of tuition is very affordable and living expenses are also moderate.
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What Can I do With a Degree in Business Management?
Business management although has a striking link to business administration, the former still has some career paths which are specific to the degree and its graduates can take up good-paying jobs with a degree in business management. Here below are few jobs one can do as a business management graduate.
- Financial analyst: this person conducts a qualitative analysis of the company or organization’s finances and also investments. These can be done through the use of graphs, spreadsheets, charts, and so on. A financial analyst also prepares the company’s products and presents them to the public market and as well as preparing investment plans.
- Account manager: these set of experts are usually used in representing clients in an organization as they are in charge of the client’s personal account and business, how to handle funds, and all other aspect relating to finances.
- Marketing manager: they are in charge of the marketing of the product and services of the company to the public market and potential customers. A marketing manager oversees the sales of products and helps the company to develop strategies in order to maximize profits.
- Administrative assistant: this person’s duty is focused on answering phone calls to the company, schedule meetings, updating the database on information about the company, and other forms of administrative duties. An administrative assistant must is detailed and organized to be able to excel in this position.
- Sales associate: these are experts on sales of products and services and they are recruited when a company needs to best sales of its products to a target audience. Most of the sales associates have their salaries based on the commission that is, they are paid on the number of products they are able to make sales on or are paid depending on the salary structure of the company.
Many of the world-leading business schools are located in areas like Western Europe, the United States, and also Canada, and these locations are very attractive because of their diversity in experience of MBA programs and also high standard of education. Before one can decide to study abroad, it is of utmost importance to get familiarized with the requirements and rules of such study destinations in order not to be left hanging when there. Business management is definitely a job of the future and in as much as business are continued to be created, there are more jobs for business management graduates to fill up.