Why A Business Degree is Essential for Managers
Whether you’re building an effective budget, managing employee task loads, resolving conflict, or planning for the future, managers are essential to every aspect of a business. As a manager, you know how important real world experience is to your job, and have most likely learned some important lessons through experience. However, we believe there is more even the most seasoned manager can gain by returning to school for an associate’s or bachelor’s degree.
Not only will a business degree increase your long term earning potential*, but it will also add even more skills to your professional repertoire – giving you the ability to go further in your career than you ever imagined. Let’s take a look at just a few of the great things you will learn when you gain a business degree.
1. Management Principles
A course on Management Principles is a great way to learn just what a traditional management framework looks like, and how it can help you more effectively manage a busy office. You’ll learn a number of essential skills for planning, organizing, staffing, directing and motivating your staff so that your business runs like a tight ship. With this course under your belt, you’ll be well-prepared to manage bigger businesses, or to more efficiently manage your staff in your current role.
2. Operations Management
Whether you work in manufacturing or the service industry, managing your operations can be one of the trickiest parts of your job. It can be particularly difficult to balance long range – versus short-range problems, customer demands, and business needs. An operations management course that uses realistic case studies as its base will introduce you to logical analysis skills that can help you make more informed decisions in a fast-pace business world.
3. Management Planning Principles
Planning for the future of your business involves a thoughtful mix of details and big picture thinking. In a Management and Planning Principles course, you’ll gain insights into how to differentiate and set compelling mission, vision and objectives that will motivate your employees, as well as strategies for achieving your biggest goals. A course like this will take you from the business plan down to the nitty-gritty of operational planning.
4. Fundamentals of Accounting
While you may have an accountant to do your books, a background in accounting will give you an essential grasp of the workings of the business you manage. You’ll have the capabilities to take a deeper look at theories of debit and credit and learn about what you should be doing throughout the accounting cycle.
You will also have an expert explanation of the many confusing accounting terms that make your head spin, as well as suggestions for best practices. With the fundamentals down, you’ll have the confidence not only to manage your current business’ finances but also have the skills to help grow that business.
5. Retail Marketing Principles
In today’s consumer market, advertising and marketing happens across numerous channels. With a course on marketing principles, you’ll learn what each of those channels does, how best to use them, and how marketing can help you grow a thriving retail business. It is common knowledge that marketing is the backbone to any successful business. Knowing the best marketing strategies, especially social media fundamentals, will get your far in your business.You will also have an expert explanation of the many confusing accounting terms that make your head spin, as well as suggestions for best practices. With the fundamentals down, you’ll have the confidence not only to manage your current business’ finances but also have the skills to help grow that business.
6. Business Law
You may not have any interest in becoming a lawyer, but having some familiarity with business law will ensure you steer your company clear of any mishaps with the law. You will learn about business documents, licenses and contracts that you would need to keep your business out of court. You will also learn the basics of property law, reporting your credit, keeping your customer and employee data safe, and how to enter into a new business relationship without violating any codes.
There is so much a manager must know in order to successfully manage a business. A business degree could provide you with a good understanding of the fundamentals while broadening your perspective.
*Earnings will vary by location and may be lower or higher than those listed.