The most successful business professionals possess people skills, organizational expertise and a special knack for navigating the corporate sector. Earning a degree in business management, whether through online management courses, or at a traditional brick-and-mortar university, will help groom you into one of these professionals. You'll take courses and become fluent in each area that modern businesses need to succeed in to be competitive: finance, accounting, marketing, human resources and more.
Management is the organizational process that includes strategic planning, setting; objectives, managing resources, deploying the human and financial assets needed to achieve objectives and measure results.
This career field can be hard to pin down, since management is present in not only business, but also other fields like healthcare, engineering, and social sciences. In response, the academic field of management takes a holistic approach by equipping students with skills and expertise that can be applied to all areas of modern business.
Sample Courses
While programs can vary to a wide degree, students in a management program can count on a lot of group projects, as well as a focus on math, finance, and economics. Number-crunching and statistics are of particular importance in many degree programs, notes Princeton Review. This list of management courses should give you an idea of what you might expect from a business management degree program:
- Organizational Leadership
- Principles of Management
- Information Systems Design and Management
- Managerial Accounting
- Sales and Marketing
- Business Ethics
- Managerial Economics
- Financial Analysis
- Human Resources Development and Management
Possible Specializations
Specializations are common in this field. Many concentrate in marketing, data-analysis, organizational leadership, or information technology management.
Some colleges allow students to minor in areas of business that are a little broader, such as international business, business law, supply chain management, or information sciences and technology. Other schools allow students earn a double major in management and human resources, finance, or other related degrees.
Degree Types
A bachelor's in management is an important credential in the world of business, and this will be the only requirement for many entry-level positions, though some employers may only require an associate in management. Additional credentials, such as a project management certificate or any other certificate in management might help you get in the door or improve your career prospects once you complete your program.
The Master of Business Administration (MBA) is one of the most popular advanced degrees in the U.S., with more than 125,000 graduates in 2011. Besides demonstrating a graduate's academic commitment and discipline, an MBA also builds important management and leadership skills. According to Forbes, MBAs are best for students who have prior experience in the business world. However, there are also unrelated master's in management programs that prospective students can consider.
Ideal Candidates for Management
Successful managers have the ability to think critically, communicate effectively, and act decisively. Staff will depend on you to identify needs, problem-solve solutions and do it so in a way that keeps the business thriving.
The Bureau of Labor Statistics (BLS) also encourages managers to build skills related to interpersonal communication and team-building. The ability to motivate and instruct employees, as well as facilitate productive brainstorming sessions between co-workers, is prized by all companies, but especially those who rely on innovative thinking.
Career Pathway
The BLS tracks data for two dozen managerial careers, and these sectors vary considerably in terms of earnings, projected sector growth, and other factors. Administrative service managers, for instance, earn a median salary of $77,890, and that particular career is expected to grow 15% between 2010 and 2020. Compensation and benefits managers, on the other hand, earned more than $100,000 per year — but that career path is only projected to increase by 3% during the same period.
Ultimately, you should research different management trajectories before choosing a specialization; many students invest considerable time and money into a specialized degree, only to find that jobs are sparser after graduation than when they were enrolled in classes. Regardless of job growth trends, candidates with a master's degree or advanced certification should enjoy the best job prospects — but there are plenty of jobs available to individuals who only earn undergraduate credentials.
If you are committed to becoming a management professional in this competitive business world, show your determination through plenty of research. Get insight from students in business programs at schools that you find appealing or ask to chat with a professor during their office hours. Take a proactive step to finding the program that will work best for you.
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Journals
American Journal of Industrial and Business Management
A journal on theories and applications in all areas of industrial and business management.
Business and Economics Journal
An open-access journal publishing quality research in the areas of management, business, finance and economics.
International Journal of Business Science and Applied Management
Publishes articles on general management, e-business, strategy, marketing, supply chain management, organization studies, entrepreneurship, human resource management, and more.
International Journal of Economics & Management Sciences
This journal includes studies, reviews, surveys, articles, and more that contribute to the disciplines economics and management sciences.
Journal of Entrepreneurship & Organization Management
A journal with articles containing complete, reliable information on discoveries and current developments in the business field.
Journal of Hotel & Business Management
Publishes articles dealing with the study of professional management techniques relevant to the hospitality sector.
Journal of Management and Marketing Research
This journal publishes articles on contemporary issues in management and marketing.
Publishes research on strategic management that is timely, relevant, and interesting.
Consists of articles regarding management theory and practice, including strategic management, human resource management, operations management, organizational behavior, and entrepreneurship.
Trade Magazines
An e-Magazine that examines business management topics like business intelligence, outsourcing, marketing and communications and human resources.
Performance Management Magazine
An eZine dedicated to highlighting successful companies using the systematic, data-oriented approach of performance management.
Geared toward business decision-makers, this magazine focuses on the rewards of human capital management and maintenance of high-performing workforces.
Scholarships
Alan H. Conklin Business Aviation Management Scholarship
Deadline: July 31
Award Amount: $5,000
A scholarship for students interested in careers in business aviation management.
Deadline: July 31
Award Amount: $2,500
A scholarship for the business leaders of tomorrow awarded to students interested in business leadership and entrepreneurship.
Domo Scholarship for Business Management Majors
Deadline: August 31
Award Amount: $2,500
A scholarship for business students interested in being apart of the next generation of data-driven leaders.
Deadline: varies
Award Amount: $5,000
Students of Hispanic heritage majoring in business administration, economics or finance.
Jane M. Klausman Women in Business Scholarship
Deadline: July 1
Award Amount: $7,000
Zonta International honors women pursuing a degree in business at the undergraduate or graduate level with this international scholarship.
Deadline: June 30
Award Amount: $1,000 – $20,000
The National Black MBA Association offers various scholarships for undergraduate and graduate students pursuing careers in business.
Deadline: April 30
Award Amount: $2,500 – $10,000
Qualified Hispanics pursuing MBAs can apply for this scholarship from the National Society of Hispanic MBA Foundation.
Orbis Investment Management MBA Fellowship
Deadline: June 14
Award Amount: $10,000
A fellowship for incoming MBA students enrolled in an accredited program and an interest in investing.
Deadline: January 24
Award Amount: varies
A scholarship purposed for students enrolled in an MBA degree program and commited to a career in management consulting.
Deadline: March
Award Amount: $8,000
A scholarship for minority students attending UNCF Member Colleges and Universities majoring in a business discipline such as economics.
Ameriprise Financial: Business Management Internships
Deadline: year-round
Undergraduate students interested in the financial services industry can gain valuable training in this company's business management internships.
Capital One: Project Manager Internship Program
Deadline: varies
In the project manager program, interns learn from project managers and associates while developing their communication, leadership, and facilitation skills .
FCC: Internships Office of Managing Director
Deadline: year-round
The Federal Communications Commission's Office of Managing Director offers internships in new media, human resources, and bureau/office.
Deadline: year-round
Places students in internships with some of the nation's largest companies to prepare them for corporate and community leadership.
Macy's Store Management Internship
Deadline: varies
This store management internship teaches students about the business side of customer service, store operations, associate development, human resources, visual merchandising, and security.
NestlePurina: Business Management & Customer Service Internships
Deadline: varies
This internship provides students with beneficial, real-world business experience working in Nestlé Purina's Order Revenue Management Department.
Sherwin Williams: Store Internship Program
Deadline: varies
Gain experience in the commercial/retail environment at one of the Fortune 500 company's 3300+ stores.
Smithsonian Facility Management Internship
Deadline: varies
An internship with the Smithsonian's Office of Facilities Management and Reliability purposed for students interested in a career managing facilities.
Smithsonian Institution James E. Webb Internship
Deadline: February 1, October 1
Students interested in management of non-profit scientific and cultural organizations can intern with mentors in offices, museums, and research institutes throughout the Smithsonian Institution.
Student Organizations
American Management Association Student Membership
With AMA's Student Membership you will get "real world" information directly from leading business and management experts.
Business Professionals of America
Business Professionals of America supports students pursuing careers in business management, office administration, information technology and other related…
Distributive Education Clubs of America (DECA)
DECA prepares emerging leaders and entrepreneurs for careers in marketing, finance, hospitality and management in high schools and colleges around the globe.
Honor society, Sigma Beta Delta, recognizes scholarship among students of business, management, and administration.
Student Chapter of the Society for Advancement of Management
SAM offers students the opportunity to belong to the oldest professional management association in the world dedicated to the general manager.
Professional Organizations
American Management Association
American Management Association is a recognized leader in professional development.
National Management Association
NMA is a national, not-for-profit organization helping business men and women acquire and practice the leadership competencies and attributes needed to get ahead.
Society for Advancement of Management
SAM provides an opportunity for members to increase management skills and expertise through participation in programs and services designed to improve the professional quality of their knowledge,…
Society for Human Resource Management
Representing more than 250,000 members in over 140 countries, the SHRM serves the needs of HR professionals and advances the interests of the HR profession.
The Association for Operations Management
The APICS is a premier source of the body of knowledge in supply chain and operations management, including production, inventory, materials management, purchasing, and logistics.