Earning a business degree or an MBA can benefit you in varied ways. These benefits will not only enhance your career prospects and professional goals but will also impact your non-working life. Some of the benefits of pursuing an MBA degree are:
Careers can at times get stuck and earning an MBA degree can re-energize your career or help you uncover new ones. It can also increase your earning potential.
During the course of your Business Management degree you will be exposed to varied Management courses. Courses will be in core areas of Management include Strategic Management, Finance, Accounting, Economics, International Business, Human Resource Management, Business Analytics, Marketing, Production Operations Management, Entrepreneurship and Information Technology. Additionally students will be specialising in one of these areas in their second year.
These courses will prepare students for jobs as Customer service associate, Sales associates, Administrative assistant, Relationship banker, Bookkeeping, accounting and auditing clerks, Business analysts, Account managers, Financial analysts, Marketing managers, Sales managers, Project managers, Human Resource managers, Retail managers and Construction managers to name a few. Here is how specialisations prepare you for the future:
Pursuing an MBA is a good investment in oneself. The personal and professional development that takes place during the course of the degree enables students to accelerate their career, as well as prepares themselves to lead organizations. It can provide you the chance to look inside yourself and determine how you can hone your skills and abilities to pursue your passions and make your career goals a reality.
A career in business administration means you will probably never just focus on just one part of an organisation; you will be exposed to a variety of business operations ranging from marketing to finance to human resources.
During the course of your Business management degree you will be exposed to varied Management courses that will have a positive effect on your job prospects and earning potential.
Here is a sampling of the core courses in the Business Management degree:
Principles of Financial Accounting - This course provides a review of accounting objectives and their relation to business, as well as a survey of the theory and application of managerial accounting principles. Since a solid grasp of accounting is useful in any role, the knowledge you gain in this class will be widely applicable.
Business Law and Ethics - This course reviews fundamental principles of law applicable to business transactions and provides an overview of ethical concerns that arise in the world of business. Students learn about public and private law, contract law and partnerships. A firm understanding of law in business is an absolute must for Business Management students.
Principles of Marketing - This course integrates seven key marketing perspectives to give students a broad understanding of useful and industry-specific marketing tactics. Topics include consumer buying behaviour, business-to-business marketing, market research techniques and much more.
Introduction to Human Resource Management - Human resources plays a key role in developing, reinforcing and changing the culture of an organisation. This course explores the importance of establishing and administering company goals, policies and procedures. Topics covered include employee benefits, interview techniques, hiring, discipline and more.
Project Management - Project management includes the application of specialized skills, knowledge, processes and procedures to successfully take a project from start to finish. A project can include any type of temporary initiative or goal, from developing a software program to putting an addition on a house. During the course, you will get to identify the project scope and requirements, develop plans and systems to achieve project goals within specified parameters including time frame and budget.
In addition to the above sample of core courses, courses like International Business, Entrepreneurship, Business Analytics and Strategic Management prepare students to step into bigger shoes.
A career in this field will require you to perform a variety of tasks such as analysing data and market trends, managing an organisation’s finances as well as developing policies to improve the efficiency of business operations. Business administrators work in a variety of sectors. Some of these sectors include:
Business administration qualification leads to many entry-level roles upon graduation, and allowing those who wish to specialize further the chance to improve their career prospects with postgraduate degree. Examples of postgraduate programs include Masters in specialised areas such as Finance, Operations Management, Human Resource Management, Marketing and Entrepreneurship to name a few and (for those who’ve gained some professional experience) the MBA.
A degree in Finance and Accounting trains students to pursue careers in areas of investment analysis and management, banking, auditing, consulting and financial management. Students will study Finance and Accounts but will also learn other areas of management such as Economics, Marketing, Operations, Analytics and Law which will increase their employment opportunities.
Some of the core courses in the Bachelor of Commerce degree are:
Auditing and Corporate Governance – This course provides working knowledge of the most essential components of auditing, focusing on verification and valuation of assets and liabilities. It will appraise the student with the frameworks underlying corporate governance law and practice in India.
Management Accounting – The objective of this course is to develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts. The course will help you understand how elements of management accounting are used to make and support decisions.
Financial Accounting – Accounting is the language of business. This course will introduce you to the underlying principles and concepts of financial accounting, accounting techniques and the preparation of basic financial statements.
Financial Reporting – This course will help you to understand and apply knowledge of international accounting standards to the preparation of financial statements under the conceptual and regulatory frameworks of accounting. It will expose you to the analysis and interpretation of financial statements also.
Financial Management – The aim of this course is to develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions. You will also be able to assess and discuss the impact of the economic environment on financial management.
Financial Markets – The financial system plays a vital role in the economic growth of a country. It is a combination of financial markets, financial institutions and financial services. This course is designed to make the students aware of the structure, functioning and importance of financial markets and institutions.
Stock Market Operations - Stock Markets constitutes an important element of the Indian Financial System. This course aims at giving a comprehensive understanding of stock market operations in India in terms of the structure of the market, various financial securities traded in the market and their trading and settlement procedures.
Working Capital Management – Every business needs adequate liquid resources in order to maintain day-to-day cash flow. Even a profitable business may fail if it doesn’t have adequate cash flow to meet its liabilities as they fall due. This course will help you understand what working capital is and the various techniques that can be used to effectively manage the requirements to ensure a business’ success.
Business Law – A common legal framework is fundamental to economic activity and growth. The framework allows trade and business to flourish. Business Law course helps you understand the common laws that govern business and help to carry out trade.
Cybercrime & Laws - With growing dependency on Internet for financial transactions, new threats to network and information security have emerged, and ever increasing vulnerability to Cyber Crime. This course makes students aware of Cyber laws and the regulatory framework for the control of Cybercrimes.
A student graduating with a Bachelor’s in Commerce will be able to critically evaluate arguments and evidence, analyse and draw reasoned conclusions concerning structured and unstructured problems based on data and information, be numerate, and to appreciate statistical concepts. They will be able to understand the contexts in which accounting operates including the legal and social environment, the accountancy profession, the business entity, the capital markets and the public sector. They will also have the skills needed to record and summarise transactions and other economic events, prepare financial statements, analyse the operations of business, financial analysis and develop projections.
This degree qualifies students to work as financial consultants, financial traders, accountants, auditors, risk analysts, tax advisors and insurance brokers to name a few. Students can also work towards obtaining a professional accountancy qualification such as the globally recognized Association of Chartered Certified Accountants (ACCA) or Chartered Institute of Management Accountants (CIMA) certificate.