Benefits of Studying Business Management. Let’s start with knowing what business management is all about.
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.
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.
8 Benefits of Studying Business Management
1. Develop crucial communication skills
Writing a convincing report or presenting a winning pitch—and even drafting the right email—requires having excellent communication skills. Whilst studying business, you will work alongside students from around the world on a range of challenging projects. Your views and experiences will be different, and may even clash. To get the grade, you’ll have to analyze cases, diplomatically respond to conflicting opinions, and master the art of making your point.
2. Marketing 101: Know your audience
Teachers share ideas to inspire students, politicians run campaigns to win support, and a job applicant has to sell their skill set to get the position. Making your idea (or application) stand out is no easy task, but taking classes in marketing can teach you to understand your audience and how you can creatively appeal to them. This will serve you particularly well when trying to get buy-in from your peers, colleagues, or investors.
3. Accounting and budgeting: Don’t fall short
Many great businesses fail to succeed due to poor financial management. Don’t let financial concepts scare you away from starting your own venture. Studying business will run you through the basics of accounting so you will be confident and equipped to drive your business performance forward.
4. Unlock the entrepreneur inside you: Leave your mark on the world
More and more, students go to business school to learn how to launch their dream business. Being your own boss has many perks, but becoming a successful entrepreneur demands creativity, innovation, and a strong execution strategy. Going to the right business school will develop your entrepreneurial skills and enable you to test launch your ideas. Who knows? You may even meet your future business partner in class.
5. Investment & finance: Learn what makes the world go round
For a lot of big purchases–buying a house, car, or business school degree–you may look to financial loans as an option. How do you decide when it is safe to borrow? Or similarly, you may reach a point in your life when you want to invest in stocks, bonds, or real estate. What should you invest in, and what factors should you consider? Choosing a business degree will give you a good understanding of basic economic principles, how markets are affected by world events, and how to assess a firm’s financial health. Combined, this can help you make better-informed investment decisions and, ultimately, learn how to achieve a higher ROI.
6. Project management: A skill for every sector
Are you tasked with having to manage operational logistics or complex projects? Whether you work in the music industry, military, or not-for-profit sector, studying for a business degree can strengthen your project management capabilities. Through working on live business challenges, you’ll learn to solve problems and prioritize resources through taking an analytical, cost-effective approach. You’ll also use project management tools to map responsibilities and ensure you meet deadlines.
7. Transferable skills
The many transferable skills you’ll develop are in high demand, such as communication, decision making, numeracy, presentation, and generally understanding how an organisation operates. As a business graduate, you’ll have a wide variety of career choices along with the aptitude required to work in any industry.
8. Case-based learning
During your course, you can expect to learn through practical and relevant experiences. Business degrees are notorious for having a high level of case-based learning where universities use real-life examples, setting you up for work in the professional world.
Frequently asked questions
Why is business management important?
The core responsibility of a business manager is to ensure that a business remains both operational and profitable, which is what makes business management such an important position.
An organisation cannot function with effective business management. Any organisation, no matter the industry it operates in, needs someone with the knowledge and understanding of key processes to ensure their business can flourish in profitability and efficiency. You, as the business manager, ensure that the hearts of companies keep beating.
What can you do with a business management degree?
You will gain the skills required to have a profound impact on your client’s business.
The best thing about having a business management degree is that there is no limit to where you can work. All organisations need a business manager.
Where you work will depend on the location you want to work in, the industries you’re personally interested in, and the salary you expect. You could work freelance as a consultant, too.
Is studying for a business management degree worth it?
If you enjoy dissecting business practices and ensuring that systems and processes are as efficient as they can be while working with a wide variety of clients across many different fields, then becoming a business manager might be the right career for you.
Become a holder of the prestigious Bachelor’s Degree in Business Management & Startup Building from SIU.
