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What is Business Management?
A business manager’s role involves developing and implementing processes for optimal growth. Employee production is supervised with the goal of attaining top efficiency. Business managers can expect to work long hours to achieve their goals and they should be prepared to make difficult decisions, sometimes with limited information. The good news is that you can choose whatever industry most interests you, whether that’s agriculture, technology, or something else, and work your way to the top.
Colorado ranks highly for small business start-ups. That makes it a particularly good location for business students to seek employment after graduation. Denver is also a major financial hub for the banking and personal finance industries.
If you’re looking for a way to make a good living, gain access to a huge number of career options, and not need more than two to four years of schooling to get started, a business or business management degree might be just what you’re looking for.
Business managers may find work in virtually any industry. Depending on the size of the organization, they may oversee a department or the entire enterprise. That may include oversight of the company’s sales, marketing, finance, or operations. A business manager is responsible for the short-term and long-term success of their company.
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Online Business Management Education in Colorado
The top industries in Colorado include aerospace, in which it ranks number one in the nation; technology and science, in which it ranks second; and the following:
- Advanced manufacturing
- Defense and homeland security
- Energy and natural resources
- Financial services
- Technology and information
- Transportation and logistics
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Online Associate Degree in Business Management (AS)
With an online associate business management degree, you may obtain an entry-level management position in local or retail stores. An associate degree in business management, available from community colleges and some universities, should include courses in business, marketing, management, supply chain management, and more. At this level, basic business concepts are covered in business administration programs, including accounting and economics. However, much of your classes at this level will be general education courses. This can make it much easier to complete a bachelor’s degree later on but means that you will not have a particularly deep understanding of business or management unless you continue your education. While you might be ready for entry-level positions and eventually make your way into management with an associate degree, most businesses would prefer to hire those with at least a bachelor’s degree.
Online Bachelor's Degree in Business Management (BS)
An online bachelor’s degree is the usual entry-level degree for business management, but many employers require a master’s degree in business management or an MBA for senior or advanced positions.
A bachelor’s degree in business management will take students four years to complete if they attend full-time, though you can shorten that by earning an associate degree first, which counts toward the first two years of education you will receive in a bachelor’s program.
Even so, you should expect to have most of your core courses ahead of you, which will include subjects such as the following.
- Business Law and Ethics
- Accounting and Finance
- Operations Management
- Human Resources
- Management Information Systems
- And More
Online Master's Degree in Business Management (MS)
If you are looking to improve your career, gain access to higher level positions, or switch careers and move into a new field then earning a master’s degree or MBA might be a good option. An MBA, or Master of Business Administration, is the degree businesspeople earn when they want a shot at the C-suites. With this degree, you might find yourself ready to move into a position as a CEO, COO, CFO, etc. These degrees focus on business and management, but you can also specialize in finance or IT in order to move into the position you’re aiming for or switch up your career and try something different.
Online master’s degrees are more advanced and continue the foundation in business management that an MBA offers. These are better for those who wish to move up within their specific department in which they already have experience, such as finance, IT, marketing, etc.
No matter which degree you choose, you’ll need to complete around 60 credit hours of courses, which usually takes full-time students around 18 months to two years.
PhD Degree in Business Management (PhD)
Graduate students pursuing a PhD in business administration and management are likely to need as much as 5-7 years to complete this terminal degree. While these degrees aren’t necessary for any business roles, graduates might find themselves part of a research team or ready to take over as dean of an academic department once they spend a few years teaching at the college level.
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Become a Business Manager in Colorado
Business management offers many career opportunities. Besides for-profit companies, it is a good business degree for work in many government or public agencies, as well as within the non-profit sector. A business education is necessary for those going the entrepreneurial route or creating or joining a start-up. However, there is no licensure required for business careers the way there is for cosmetologists or psychiatrists. Instead, you’ll want to earn the right certification to succeed within the position, industry, or field that you find yourself in. This might mean certification as a project manager or IT certification if you aim to lead an IT department.
There are hundreds of certifications available when you include those for every business position and for every industry. That makes it even more important for you to do your own research and find out what certifications or qualifications you will need to succeed in your chosen position. The most popular certification for businesspeople is that of the PMP (Project Management Professional). Project managers are needed in IT, construction, finance, and many more fields. That makes this certification one of the most useful across all industries.
Potential Careers for Business Management Graduates
- Sales Manager
The duties of the sales manager include recruiting, hiring, and training sales staff, as well as determining the sales’ goals of their company. They analyze sales data and set performance goals. When salespeople don’t meet their goals or metrics, they coach them to help them see where they can improve.
- Financial Analyst
This job involves analyzing and assessing the performance of stocks, bonds, and other investments and providing financial guidance to businesses or individuals. Analysts also examine company records for value determination and study business trends. These professionals keep their eyes on the financial markets so that their suggestions can help their clients earn the most return for their investments, no matter if they are looking to prepare for retirement or are looking to diversify a large company.
- Account Manager
This position requires spending a great deal of time with clients, managing their accounts but also ensuring their needs are met. By working closely with the sales team, account managers make sure the products or services purchased by the client meet all demands. Good account managers reduce client turnover and help to retain customers over the long haul.
- Benefits Specialist
This HR position involves assisting with the administration of retirement programs, medical, life insurance, and other benefits programs. Along with helping employees navigate their benefits and claims, the benefits specialist works with new hires and determines specific benefit eligibility. They also keep their eye on the cost to the company and negotiate with benefits companies in order to reduce company costs or increase benefits overall.
- Director of Operations
As the title implies, the person in this job oversees many business activities. Although much depends on the industry, the director of operations develops and monitors day to day operational systems, works closely with senior executives, and devises strategies to grow the business.
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- Account Executive
This sales and marketing position involves meeting the needs of current clients while bringing new clients into the company. They must meet revenue targets and their compensation is partly based on commissions.
- Project Manager
This role entails the planning and directing of specific projects. They lead the team and adhere to budgets and schedules. The project manager holds responsibility for the entire project from conception to completion. They may lead projects in various departments depending on their specialty. Some project managers oversee construction projects, while others manage projects in IT, marketing, human resources and training, and more.
- Business Analyst
Business success requires on the constant evaluation of data and processes to improve company productivity. Those are among the primary tasks of a business analyst. After conducting a thorough analysis of the organization’s needs, business analysts set goals and objectives and help improve overall efficiency.
- Marketing Manager
Planning and executing marketing strategies is the primary focus of this job. That includes creating marketing copy and identifying the target audience for a brand’s products or services. They will also oversee media buyers and creatives in order to meet company objectives and goals.