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What is Business Management?
For students who plan to earn a business management degree in Connecticut, here is a nugget of information they need to keep in mind: most of the industries that do business in this state function best with business managers. No matter what degree level they plan to earn, a business management degree can certainly give them a foot in the door after graduation. From construction up to real estate, rental and leasing, the student should be able to plan on earning their degree and finding a position relatively easily.
Business managers supervise the activities of employees within a company. Their responsibilities include the overarching goal of ensuring that their organization is functioning efficiently. Another goal is to ensure that the company stays on track to meet projected financial goals. For these reasons and more, earning a business management degree from one of the best business management schools in Connecticut may help candidates to achieve their goals.
The main responsibility of a business manager is to oversee the daily operations for the company, ensuring that employees are carrying out their duties. A business manager may also be required to report to the company’s top executives regularly.
Because of this, business managers should have solid leadership skills. They need to have excellent communication skills in writing and orally so that they can easily communicate with everyone in the company, from the top to the bottom. Good time management skills are also a must. A top business manager has well-honed project management and planning skills, they are experts in financial management, and they are able to delegate specific tasks to employees.
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Business Management Education in Connecticut
Nearly every industry needs managers, and there are plenty of businesses and fields doing well in the state of Connecticut. Construction is the #29 largest field of business in Connecticut. It brings $8.2 billion into the state. The arts, entertainment, accommodation, recreation, and food services industry brings in $9.4 billion. Information technology is vital, not only to the state, but to every industry that has a computer system or network powering their operations. This field is #16, bringing in $13.6 billion per year. The retail trade adds $13.8 billion to the state economy. And the list goes on.
Students who are already working in a business position or who need to earn their degree may enhance their chances of finding the position they want by earning a degree in business management. Rather than simply learning the basics of business, students will learn about how to run a business and ensure that it does well. Students may already have an idea of which field of business they want to enter but, if they don’t know whether they want to work for a manufacturer or a property management company, it’s good to know that a degree in business management can help them fit into almost any area of business or industry.
A business manager may find employment in a medical office or healthcare organization working as the manager. Or they may be drawn to a non-profit, where they can manage an entire organization.
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Fourteen of the top-producing businesses in Connecticut appear on the Fortune 500 list. In addition, hundreds more businesses and industries have a presence in Connecticut. These include manufacturing, insurance technology, aerospace, medical technology, and others.
Associate Degree in Business Management (AS)
Graduates of an associate degree in business management may position themselves so they are able to earn $6,864 more in one year than those who don’t have a college degree. Business schools and business education give students the skills they need to begin their careers. Business students can create a foundation for their careers by earning these entry-level degrees and earning experience on their way to higher education and greater knowledge.
An associate degree is a 60-hour, two-year program that is considered entry-level for nearly every field, though some business positions will require a bachelor’s degree for entry.
Those with their business degree may find positions as an administrative assistant, scheduling meetings, update information in the company database, answering phone calls, and more. Graduates may also work as customer service associates or in other entry-level positions. Even with business degrees, they may find positions in an accounting department. However, it will be difficult for graduates with associate degrees to move into actual management positions without a higher level of education.
Bachelor’s Degree in Business Management (BS)
Business management students at the undergraduate level develop a broad base of learning from their degrees. A bachelor’s degree is considered an entry-level degree for many positions in business, though it may still be difficult for graduates to make their way into management without a good deal of experience.
These four-year degrees include an average of 120 credit hours of various business ethics, accounting, and law courses. However, most students find that they pay off in terms of increased income and job opportunity. You will certainly have access to many more positions as most companies require a bachelor’s degree for any position except the lowest entry-level options.
Master’s Degree in Business Management (MS or MC)
Most students who aim to earn a master’s or MBA degree have already completed a bachelor’s degree and gained at least some experience before they move into a graduate program. They may earn more education to expand their promotion or new job opportunities, as well as to gain new skills or even move into a new field or industry. Whatever their reasons, earning more education is almost never a bad move. As long as prospective students consider the costs and weigh the possible outcomes, it should be worth it to earn a graduate degree.
Students can earn accelerated bachelor’s and master’s degrees in which they finish both academic degrees within five years. However, most professionals are well out of college by the time they decide to earn a master’s. When you choose to enter a program, you can expect it to include around 60 credit hours of courses that are specifically focused on whatever your specialization is or on management principles, theories, and techniques. The majority of programs are created to be completed within two years, though if you take the courses piecemeal or only part-time, it could take as much as twice that time to complete all courses in a program.
PhD Degree in Business Management (PhD)
Earning a PhD in management allows students more time to work with management theories and carry out new research projects so that they can study these theories in action. At this level, students may complete research meant to expand and progress management study and find ways to use theory applications.
Graduates may find positions as college professors and expect to gain tenure with their new academic achievement in hand. In this role, they may carry out research with university-affiliated facilities all over the United States. However, it’s good to note that businesses rarely require or even expect their highest-level managers to have a doctorate degree.
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Become a Business Manager in Connecticut
The state of Connecticut has no requirements for those who work as managers in terms of licensure or certification. However, beyond graduation, business managers may be required to hold professional certification by the businesses who are looking to employ them. At the least, this recognition allows managers to show the depth and the breadth of their learning, which may make them more attractive to employers. Finding the right certificate program allows managers to move higher.
Below are just some of the available certifications that you might consider earning, depending on what field you are looking to enter:
- Certified Purchasing Manager (CPM)
This certification is specifically meant for public sector managers and focuses on purchasing choices made by those in supply chain management or those working as buyers or purchasers.
- Certified Professional in Supply Management (CPSM)
This certification is considered one of the highest levels of SCM certification available and will provide holders with advanced skills and an understanding of end-to-end supply chain management.
- Certified Information Security Manager
This certification communicates that the holder had the required expertise in program development and management, information security governance, risk management, and incident management.
- SHRM-CP proves an HR professional’s ability to function effectively within an HR department. This certification can lead to higher earning potential and greater opportunities when it comes to new job possibilities. The SHRM-SCP provides the same quality assurance for HR professionals at the top of HR departments all over the country.
- Certified Professional Manager
This certification proves that a manager has achieved a level of skills, training, work experience, and effectiveness in their role. It supplements business knowledge and provides qualified managers a path to greater professional recognition.
- Project Management Professional
Professional managers in construction, manufacturing, publishing, healthcare, information services, finance, insurance, and professional services can all benefit from earning this certification, which proves their knowledge in project management processes, tools, techniques, and methodologies.
And, if you are interested, there are dozens more useful certifications that you can earn in a variety of industries or even for use in general management positions. Whatever your goals or career interests, you can find a certification that will help you improve your career and succeed in the long run.
Careers for Business Management Graduates
- Sales Manager
Sales managers are assigned a team of sales representatives. They lead their team using training, guidance, and mentorship. They may set sales quotas for their team members to strive for and meet.
Sales managers may also analyze data about recent sales. They assign sales territories to each sales representative and build a strong, effective team. They may supervise the performance and activities of the team and set up frequent training. Managers should have a degree in business or a closely field.
- Financial Analyst
A financial analyst is a business manager whose work is entirely in the finance realm. Their daily responsibilities include offering alternatives and recommendations to help reduce costs and improve the company’s financial performance. They combine and analyze financial data and, as they do, they keep the company’s goals and financial standing in mind.
An analyst collates and summarizes data so that they can create sophisticated reports detailing financial status and risks to the company. A financial analyst provides data-based information on the company’s solvency, stability, profitability, and liquidity.
- Account Manager
An account manager is a client advocate. They work closely with internal departments at their company, making sure that all of a client’s needs are understood and met. This manager may make sales, collect, and analyze data, handle unhappy client complaints and, overall, improve the customer’s experience.
Account managers must be skilled communicators who aren’t afraid of acting proactively when they learn of a problem with a client’s account. They are the point of contact for every client. Their goal should be to develop long-lasting relationships that are beneficial to clients and the company.
- Operations Manager
Operations managers are a huge part of the management structure. They supervise high-level human resources tasks, set required training standards, work to attract new talent, and verify hiring procedures. They may also study and improve the organization’s processes and work to improve the level of quality and productivity of the company. This professional may also act as a Chief Operating Officer (COO).
The operations manager may make vital decisions regarding policy and strategic decisions. They focus on the development and rollout of new operational policies and procedures and they should hold a bachelor’s degree in operational management or a related field.
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- Director of Operations
This professional oversees the operations of a company. They hold a leading role in developing and overseeing the customer retention initiatives of organizations. They may also be known as a COO, business operations manager or operations director.
The Director of Operations works closely with senior management team members in ensuring that the company’s values are maintained. They also analyze data and metrics, which enables them to maximize employee performance and collaborate with human resources, focusing on succession plans for strategic management members and supervisors. They may also promote closeness between different departments.
- Account Executive
An account executive may be found in a variety of fields or industries, really anywhere that a business works with repeat customers, whether they are individuals or companies. They help their companies to grow by finding new leads, supporting current clients, and closing sales. They may also develop sales strategies and discuss product value to the company’s clients.
This professional should have a deep level of product knowledge and they should understand their industry’s trends. This professional is expected to communicate with prospects and clients. They must understand each client’s needs so they can recommend products or services.
- Regional Manager, Services Company
A regional manager for a services organization has risen high enough that they oversee an entire specific geographic area. This may cover an entire county or even a few states. A good example would be a department store or a coffeeshop with stores across the country.
The regional manager is responsible for overseeing the business operations in each store in their assigned region. They do not take the reins and manage everyday operations, but rather, they check to see that each store is achieving its business goals and earning as much profit as it possibly can. When stores do not meet metrics, then they may go to the store in question in order to assess how it functions and try to help local management meet required metrics.