According to the Digest of Education Statistics, hundreds of thousands of students obtain a bachelor's degree in business each year. This beats all other majors by far. While on the surface this may seem like good news because it shows that business is a popular program of study, it is also presents a challenge because that means there are hundreds of thousands of business students that will be competing with you for employment when you graduate. Still, there are some very significant advantages to studying business management in college.
A Good Grasp on the Realities of Business
Business management studies give people a complete education about running and maintaining a business. Business students are not only taught the basic principles of management in text books, they are also given real life examples to examine so that they can bring these principles to life. Business instructors use case studies and hands-on projects to show students how things can go right or wrong depending on how a business is managed. For example, at the Wharton School at the University of Pennsylvania, freshman students are usually required to start and manage a team-oriented business project in order to pass Business Management 101. That firsthand experience is extremely valuable to business students as they forge out into the real world.
Additionally, business management studies are needed because they teach students about teamwork. Nowadays, businesses are run in a team format. Departments are segmented into specific teams that must work together in order to accomplish business goals. Most business management classes will teach you the importance of working as a unit with other employees, and they also give you tips on how to deal with different personalities at work in the interest of achieving a higher goal.
Learn How to Manage People
Business managers must know how to manage and supervise employees effectively. Studying business management will give you a background about what you can expect from employees, how to respond to employee grievances and issues, and how to motivate your workforce. One of the most valuable subjects that is frequently discussed in business management courses is employee morale (the confidence that employees have in their jobs and their company).
A Variety of Career Choices
Many young people choose to major in and study business management because these classes give them a variety of options to explore on the job market. Every company is looking for a level-headed business manager to bring order to a chaotic situation. Students who study business management frequently end up in mid- to upper-management positions in popular fields like insurance, medicine, banking and media. They are also hired as independent consultants to help companies with specific projects and goals.
The purpose of most business management programs is to breed future business leaders. You cannot go to an interview for a mid- or upper-level position without a good management education behind you and be taken seriously. On the same token, some companies find it hard to place business management majors because the subject is very general. It all comes down to what you take out of your business education and how you integrate it with your passions in life.