What career can I get with a business management degree?
The career possibilities open to business management graduates are endless. Business management degrees are in high demand across the world because the areas of study covered are applicable to most areas of modern enterprise.
If you are looking for a career in business management, you can research jobs and graduate schemes within industries as varied as food, banking, health, construction, utilities, technology, chemicals or fashion in the public, private and voluntary sectors.
The skills that a business management degree will equip you with are also diverse. They will equip you for positions such as business analyst, account manager, financial analyst, marketing manager and sales manager.
In a small company you will be valued as you will have knowledge of a broad range of fields. This is a necessity in a small company where roles can be fluid. In a larger company you will bring up-to-date knowledge and the mindset needed to inject a new, fresh and innovative business perspective to the workforce. Alternatively, students with an entrepreneurial calling can use their studies as a base for creating their own business model.
Advantageous skills for graduates
You will gain many highly desirable and transferable skills during your business management degree course and these will contribute to your career. These skills will benefit someone in a business management role, in charge of a team.
You will gain:
- An understanding of organisational behaviour so you can predict and manage the actions of your team
- Critical and analytical thinking by improving how you interpret problems and problem solve
- An understanding of human behaviour – since the 2008 financial crash, the role of management today is focused on ethics
- Divergent thinking − bringing new ideas
- Quick and accurate decision-making skills − saving the company time, money and energy
- Persuasive communication skills − improving job performance and winning the support of others
- The ability to understand financial data − being able to spot patterns and predict drops in sales
- Initiative − taking the lead when it is needed to move projects forward
- An understanding of how economic changes will impact business, drawing on historical examples
A business management degree will allow you to build on previous work experience or employment alongside completing the degree and in this way you can add to your studies with practical hands-on experience.
Key areas covered within a business management degree include:
- Business organisation
- Strategic marketing planning
- Analysing financial data
- Strategic leadership
What is business organisation?
Business organisation is the management function that follows planning. A business manager will assign tasks, authority and resources across a business to achieve chosen goals.
Business organisation is vital to any organisation, especially when:
- There are changing market conditions
- New strategies are being implemented
- The business is seeking efficiencies through improvements in organising
What is strategic marketing planning?
Strategic market planning is a continual process in which you can contribute skills gained from your business management degree. Using this method, a company develops marketing strategies to aim at the target market, while considering long-term and short-term views.
There are three stages of strategic market planning:
- Separating and analysing of the market and customers
- Profiling those market areas
- Establishing the marketing strategy
This strategic market planning can be designed to fit many marketing objectives, such as a new product launch, undertaking market research or increasing market share.
Analysing financial data
The ability to strengthen the effectiveness of decision making with the analysis of financial data is paramount for a business manager. The skill of financial data analysis will provide useful insights and evaluate risk, performance and prospects.
Financial data analysis is one of the most significant skills for any business’s success, determining the health and stability of a company.
When a business manager analyses the company financial data, they can better allocate resources and plan.
What is strategic leadership in business?
Strategic leadership influences employees to implement voluntary organisational change for the success of the company. The manager will use strategic leadership to guide individuals in realising their goals and objectives, in line with the company goals.
The main purpose of strategic leadership is strategic productivity which leads to increased revenue, improved margins, engaged employees and ultimately – sustainable growth.
Strategic leadership requires the ability to see the broader picture; a business management degree will provide the ideal foundation to do this.
The business world needs graduates who have a deep understanding of business management and who can draw from multiple sources gained from a well-rounded degree.
In today’s unpredictable business environment, organisations are looking for flexible thinkers who will consider both the business and the environment in which it operates.
Business management graduates are naturally adaptable with a valuable overview of all the key areas of business, combined with a dynamic and fresh perspective.