The Ultimate Combo: Business with Management
The combination of Business and Management has recently become a prominent career choice – especially for aspiring business leaders and entrepreneurs. These two disciplines focus on organisation, analysis, planning and business operations. If that sounds too general, it’s just because Business Management allows you to be flexible while exploring multiple interdisciplinary methods.
Basics To Note: Business Management vs. Business Administration
Before analysing in-depth business management, here’s a tip for you. Be careful and don’t confuse Business Management with Business Administration. There is a key difference between them. In Business Management you’ll be making decisions whereas in Business Administration you’ll be responsible for setting things up and carrying out those decisions. To date, business managers focus on the principles, concepts and procedures of a company or organisation. They are responsible for the overall organisation and coordination of business activities.
Are you wondering if a Master’s in Business Management is for you? If you feel comfortable and confident in a leadership position, if you enjoy being in direct contact and communicating with clients and multi-managing various tasks, all innovatively and creatively, then business management is the right career path for you. Are you still contemplating? Find out the benefits of studying business management that will help you decide.
4 Benefits of Studying Business Management
1. Always in-demand
No one can guarantee you a job once you graduate; however, the business sector has always been a stable field to work in. Although science and technology-related degrees have become more popular lately; business and management roles can be applied in every single business sector, from small local businesses to large international corporations. According to the latest statistics, more than 75% of business graduates were employed full-time within 15 months of graduation, earning higher than average salaries (Graduate Outcomes Data, 2017 / 2018). As you can see, your chances of immediate employment are very high. If you want some real-life examples, continue reading.
2. Develop key management and transferable skills
Graduates in business management master key managerial and transferable skills, making them highly employable across the competitive business workplace. Some examples include: technical skills, interpersonal skills, planning and project management skills, strong communication skills, decision-making skills, problem-solving, ability to motivate employees, delegation skills, self-control skills, time management skills, and analytical skills. If you are hoping to progress and excel in any business you’ll definitely need these skills.
3. Career flexibility
If you cannot bear feeling boxed in due to the limited options and don’t want to settle for a “normal” job then business management is for you. This career path gives you the opportunity to fit into diverse career sectors and the flexibility to shift into a different industry from the one you first started. In fact, you can start your career from a small local business and years later find yourself working in a big international company.
Below you can find some of the most common job titles for business management degree holders: Operations management manager, sales manager, management analyst, financial reporting manager, business analyst, management consultant, business development manager, account manager, project manager and marketing manager.
Remember that a business management degree is highly flexible across the sectors, thus don’t limit yourself to the jobs mentioned above!
4. Be your own boss
Besides the career opportunities mentioned earlier, business management can be ideal if you dream of being your boss, having your own business or being an entrepreneur. If you are considering self-employment of any kind, business management will help you build up those essential skills and practices to run and manage your company. You’ll learn to manage your company’s financial status, develop business plans and marketing strategies. Furthermore, you’ll learn how to effectively coordinate work tasks among your employees and organise [their and yours] time. In a nutshell – you can develop the necessary managerial skills to maintain you on top of everything.