A Business degree or business education seems like the current fad in education industry. Courses like Bachelors of Commerce (B Com), Bachelors of Business Administration (BBA), Masters of Business Administration (MBA) or Post Graduate Diploma in Management (PGDM) etc have become the most sought after courses in the last two decades.
According to various surveys and articles, the demand for business degrees such as MBA has reached an all-time high, surpassing the general master’s degree, as the most popular postgraduate course.
So what is a business degree? Why does it draw so many students? What do people learn from a business degree? And how can one pursue and use this degree?
Let us look as each factor involved in a business / management degree in this article.
1. What is a business education?
First things first! Let’s try and define business education.
A course in business will teach the basics of running and managing a business operations – be it a large scale multinational firm or small scale social/commercial operation.
Some of the common topics in business degrees include:
Sales and Marketing
Finance
Accounting
Economics
Revenue
Profit and Loss
Human Resource Management
Operations
Strategy
These are just some of the core subjects. With changing scenario in world economics, the courses in a business degree are evolving. Subjects like International Business, Business Law and Ethics, Strategic Management, Corporate Social Responsibility and many more have become an integral part of business education.
The main motive behind the business degree is to make the aspirant adept in handling the entire business. Aspirants can also opt to specialise in a certain field such as Sales, Finance, Operations, HR and so on.
2. How can you pursue / get a Business degree?
Candidates can pursue business education at both undergraduate and postgraduate levels. Fulltime UG courses are mostly for three years whereas fulltime PG courses are for one or two years.
Here are the names of some popular courses across the world:
Undergraduate courses
Bachelors of Business Administration (BBA)
Bachelors of Commerce (B Com)
Bachelors of Economics
Bachelors of Business Studies
Postgraduate courses
Masters of Business Administration (MBA)
Post Graduate Diploma in Management (PGDM)
Masters of Management (M Mgt)
Masters of Commerce (M Com)
Masters of Economics
Admission
In India, to take admission in these courses, candidates have to appear for certain entrance examinations. At UG level, the entrance tests are mostly at college or university level. However for postgraduate courses, candidates need to appear for nation or international level entrance tests such as Graduate Management Admission Test (GMAT), Common Admission Test (CAT), Xaviers Aptitude Test (XAT), Common Management Admission Test (CMAT) and so on.
Candidates can also opt to study abroad. Various universities offer business degrees at undergraduate and postgraduate levels. The entry criteria to these courses vary from country to country.
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Mode of Education
Apart from fulltime courses, business education can also be pursued in part-time, correspondence and online modes. With the growing popularity of Massive Open Online Course (MOOC), short-term courses offering certificates and diplomas are on the rise.
Part-time and online courses are specifically designed for working executives or people who cannot opt for full-time courses.
3. What do you learn from a business degree?
Pursuing business education, especially courses like MBA or PGDM, is often considered a good investment. Ideally, a candidate pursuing the degree is expected to know everything about running the business on a daily basis – be it a large multinational firm or a small social enterprise.
After a post graduate business degree (MBA or PGDM) candidates are hired for manager-level positions. Traditionally, the role of managers include identifying smart business opportunities, running operations, handling company finances and work in decision-making capabilities. They also play an important role in developing company ethics and team dynamics.
A manager is also supposed to be a good communicator, helping the employees align their objectives with the larger organisational goals.
4. How can you use a business degree?
There are two essential ways of using a business degree – Employment and Entrepreneurship. Apart from that candidates often pursue courses like MBA for career progression or making a career shift or better remuneration. Here’s a detailed account:
Employment
A person with sound business knowledge is often preferred for managerial roles. Candidates with some experience (more than two years) are often considered for middle or senior-level roles. Typically, business graduates work as analysts or consultants in a wide range of domains such as – finance, marketing, operations, human resource, strategy and so forth.
Entrepreneurship
Candidates can also opt to start their own ventures. Post business education, candidates have a good perspective of the entire business world. One can take decisions at both macro and micro levels, with a better understanding of the overall economic picture.
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Career Progression
After pursuing course postgraduate level course such as MBA and PGDM, candidates can hope to make a quick jump. For instance, if someone is working as a software engineer in an IT firm. After pursuing a two-year MBA, the candidate will be hired as a senior manager in the same field. Otherwise, it may take six years to the same position with an MBA degree.
Career Makeover
With the help of business education, candidates can also change streams. For instance, let’s suppose someone is working as an IT analysis. After MBA, the person can hope to change field complete and become a business analyst or HR manager or operations manager.
Better Remuneration
Every organisation needs candidates with sound business knowledge. As a result, business-oriented profiles are quite in demand now-a-days. After an undergraduate business degree, candidates can expect slightly more salary than current market trends. But after an MBA degree, candidates can expect a hike from 60% to 100%.
However, an MBA or business degree is not Aladdin’s lamp, guarantying immediate success in your professional life with great salary. It may give you an edge over others. But ultimately, it’s all about hard work and patience.
Author profile:
Ipsita Sarkar writes on MBA and B-Schools for Shiksha.com.
According to various surveys and articles, the demand for business degrees such as MBA has reached an all-time high, surpassing the general master’s degree, as the most popular postgraduate course.
So what is a business degree? Why does it draw so many students? What do people learn from a business degree? And how can one pursue and use this degree?
Let us look as each factor involved in a business / management degree in this article.
1. What is a business education?
First things first! Let’s try and define business education.
A course in business will teach the basics of running and managing a business operations – be it a large scale multinational firm or small scale social/commercial operation.
Some of the common topics in business degrees include:
Sales and Marketing
Finance
Accounting
Economics
Revenue
Profit and Loss
Human Resource Management
Operations
Strategy
These are just some of the core subjects. With changing scenario in world economics, the courses in a business degree are evolving. Subjects like International Business, Business Law and Ethics, Strategic Management, Corporate Social Responsibility and many more have become an integral part of business education.
The main motive behind the business degree is to make the aspirant adept in handling the entire business. Aspirants can also opt to specialise in a certain field such as Sales, Finance, Operations, HR and so on.
2. How can you pursue / get a Business degree?
Candidates can pursue business education at both undergraduate and postgraduate levels. Fulltime UG courses are mostly for three years whereas fulltime PG courses are for one or two years.
Here are the names of some popular courses across the world:
Undergraduate courses
Bachelors of Business Administration (BBA)
Bachelors of Commerce (B Com)
Bachelors of Economics
Bachelors of Business Studies
Postgraduate courses
Masters of Business Administration (MBA)
Post Graduate Diploma in Management (PGDM)
Masters of Management (M Mgt)
Masters of Commerce (M Com)
Masters of Economics
Admission
In India, to take admission in these courses, candidates have to appear for certain entrance examinations. At UG level, the entrance tests are mostly at college or university level. However for postgraduate courses, candidates need to appear for nation or international level entrance tests such as Graduate Management Admission Test (GMAT), Common Admission Test (CAT), Xaviers Aptitude Test (XAT), Common Management Admission Test (CMAT) and so on.
Candidates can also opt to study abroad. Various universities offer business degrees at undergraduate and postgraduate levels. The entry criteria to these courses vary from country to country.
Don't Miss: Distance Learning - Education For Better Tomorrow
Mode of Education
Apart from fulltime courses, business education can also be pursued in part-time, correspondence and online modes. With the growing popularity of Massive Open Online Course (MOOC), short-term courses offering certificates and diplomas are on the rise.
Part-time and online courses are specifically designed for working executives or people who cannot opt for full-time courses.
3. What do you learn from a business degree?
Pursuing business education, especially courses like MBA or PGDM, is often considered a good investment. Ideally, a candidate pursuing the degree is expected to know everything about running the business on a daily basis – be it a large multinational firm or a small social enterprise.
After a post graduate business degree (MBA or PGDM) candidates are hired for manager-level positions. Traditionally, the role of managers include identifying smart business opportunities, running operations, handling company finances and work in decision-making capabilities. They also play an important role in developing company ethics and team dynamics.
A manager is also supposed to be a good communicator, helping the employees align their objectives with the larger organisational goals.
4. How can you use a business degree?
There are two essential ways of using a business degree – Employment and Entrepreneurship. Apart from that candidates often pursue courses like MBA for career progression or making a career shift or better remuneration. Here’s a detailed account:
Employment
A person with sound business knowledge is often preferred for managerial roles. Candidates with some experience (more than two years) are often considered for middle or senior-level roles. Typically, business graduates work as analysts or consultants in a wide range of domains such as – finance, marketing, operations, human resource, strategy and so forth.
Entrepreneurship
Candidates can also opt to start their own ventures. Post business education, candidates have a good perspective of the entire business world. One can take decisions at both macro and micro levels, with a better understanding of the overall economic picture.
Don't Miss: Career In Human Resource Management
Career Progression
After pursuing course postgraduate level course such as MBA and PGDM, candidates can hope to make a quick jump. For instance, if someone is working as a software engineer in an IT firm. After pursuing a two-year MBA, the candidate will be hired as a senior manager in the same field. Otherwise, it may take six years to the same position with an MBA degree.
Career Makeover
With the help of business education, candidates can also change streams. For instance, let’s suppose someone is working as an IT analysis. After MBA, the person can hope to change field complete and become a business analyst or HR manager or operations manager.
Better Remuneration
Every organisation needs candidates with sound business knowledge. As a result, business-oriented profiles are quite in demand now-a-days. After an undergraduate business degree, candidates can expect slightly more salary than current market trends. But after an MBA degree, candidates can expect a hike from 60% to 100%.
However, an MBA or business degree is not Aladdin’s lamp, guarantying immediate success in your professional life with great salary. It may give you an edge over others. But ultimately, it’s all about hard work and patience.
Author profile:
Ipsita Sarkar writes on MBA and B-Schools for Shiksha.com.
Superb..Very helpful..Business degree or business education seems like the current fad in education industry.
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