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What is a Business Management?
Business management professionals are generally responsible for supervising employees at companies and organizations, as well overseeing various essential activities performed. Nearly every industry depends on and utilizes the expertise of business managers, making it possible to find employment in a wide variety of fields. This makes it relatively easy to choose work that aligns well with personal interests and/or passions.
While business management skills are useful in almost any professional context, some of the most prominent career paths include:
- Global Business
Business management professionals may hold a wide variety of positions across many different industries, making it difficult to pinpoint exactly what their daily tasks and responsibilities will be. Even within the same field, it’s not uncommon for job descriptions to differ from company to company. Employer size and preference are also significant factors. As a result, academic programs tend to focus instruction on developing skills that can be applied in numerous settings such as analytics, leadership, and research.
Some of the most common responsibilities include hiring, training, and evaluating workers. These professionals may also ensure the financial goals of their companies are met by developing and implementing budgets, preparing fiscal reports, and verifying policy compliance. Additionally, they often ensure employees have all the resources necessary to remain productive.
The most successful business management professionals possess great interpersonal, speaking, writing, communication, customer-service, and leadership skills. Good candidates may also enjoy completing tasks and solving problems.
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Business Management Education in Florida
Are you considering enrolling in a business management degree program in Florida? Business degrees are highly popular in the United States, and can lead to a wide variety of careers. As a particularly versatile field, graduates generally have little trouble qualifying for employment.
Colleges and universities structure business management programs differently, but most are designed to provide students multiple opportunities to develop skills in business, management, finance, leadership, and marketing. Knowledge in these areas is valuable in nearly any workplace, making this degree choice valuable at every academic level.
According to the U.S. Bureau of Labor Statistics, employment in management occupations is expected to increase by 5% from 2019 to 2029. This change is expected to account for the addition of approximately 505,000 new positions in the field. It’s worth noting that some industries are expected to see more growth in this area than others. Computer and information systems, finance, lodging, and social and community service industries will experience some of the most extensive increases.
Overall, job outlook for business management professions is comparable to most others. As new organizations are formed and existing ones continue to expand, the need for qualified managers capable of overseeing business operations will increase.
While Florida is most widely known for its tourism, the state’s second largest industry is actually professional and business services. It accounts for $136.6 billion in revenue each year. Further, according to the U.S. Bureau of Labor Statistics, Florida employed 95,330 project management specialists and business operations specialists in May of 2020. This is more than most states. In fact, only California and Texas employ more professionals in this field than Florida. The annual mean wage for the same year was $73,430, which is higher than the national median.
As a result, demand for business management professionals in Florida is relatively high. To accommodate this demand, numerous colleges and universities in the state offer academic programs in business management and related fields. While it’s possible to earn a degree anywhere in the nation, individuals seeking to work in Florida should strongly consider attending schools within the state. These institutions tend to be more familiar with the local job market and employer needs. Additionally, many have pre-established relationships with companies and organizations in the area.
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Most business management professionals possess bachelor’s degrees, as this is typically the minimum requirement for entry-level employment. There are, however, academic programs at every level. Prospective students can choose from associate, bachelor, master, and doctoral degree programs. Each option has benefits and drawbacks, depending on your ultimate career goals. Many colleges and universities also offer students opportunities to select concentrations, making it important to identify one or two primary areas of interest before enrolling.
Associate Degree in Business Management (ABA)
Those seeking entry-level administrative positions in the field will find an associate degree in business management most helpful. This type of degree is typically considered sufficient to qualify candidate for jobs as administrative assistants, executive assistants, food service managers, bookkeepers, office managers, human resources employees, and office clerks.
Most associate degrees in business management consist of 60 credit hours of coursework and take full-time students approximately two years to complete. Every program is different, but most place instructional focus on general education classes and the introduction of various business-related topics such as economics, accounting, and communication.
However, graduates often have little opportunity for advancement at this level. The majority of professions in this field require, at minimum, a bachelor’s degree. While an associate degree can provide strong foundational knowledge, additional education will be necessary for those seeking promotions or higher-paying employment. Associate degrees can be used to jumpstart academic careers, however. It is fairly common for students to attend a less-expensive community college for two years and then transfer the credits earned to a bachelor’s degree program later.
Bachelor's Degree in Business Management (BBA)
According to the U.S. Bureau of Labor Statistics, most management occupations require candidate have bachelor’s degrees. Graduates will be qualified for a wide variety of employment opportunities including entry-level jobs as financial analysts, human resource specialists, and management consultants. Advanced supervisory positions with more responsibilities are also more achievable after gaining some experience in the workplace.
Most bachelor degree programs in business management consist of 120 credit hours of coursework and take full-time students approximately four years to complete. Curriculums vary, but most colleges and universities design their programs to help students develop skills that are easily transferrable to other professions and valuable in almost any setting.
Many graduates choose to pursue additional education after earning bachelor’s degrees. While not always necessary, earning a master’s degree can be highly beneficial. Prospective students should expect to provide a minimum grade point average and GRE scores.
Master's Degree in Business Management (MBA)
Master’s degrees in business management are ideal for those interested in attaining high-level leadership positions in the field. Graduates are often considered experts in management and leadership, making them incredibly valuable to potential employers. Individuals with master’s degrees are also more competitive in the job market and are frequently placed in positions with more responsibilities. These professionals may also promote quickly and earn higher salaries.
Program lengths can vary, but many master’s degrees in business management range from 30 to 60 credit hours of coursework. Full-time students generally complete requirements within one to one-and-a-half years. Some of the most common employment opportunities include training and development manager, top executive, public relations and fundraising manager, human resource manager, information technology manager, financial manager, industrial production manager, and management analyst.
You should know that master’s degrees in business management are distinct from master’s degrees in business administration (MBA). While both options qualify graduates for supervisory roles, business administration programs place more emphasis on the technical aspects of planning and execution. However, either can earn you a spot in business management positions.
PhD Degree in Business Management (DBA)
The highest level of education in the field is a doctoral degree. Prospective students can choose to pursue either a PhD in business or a doctorate in business administration (DBA). While distinct, most academic programs at this level typically consist of between 90 and 120 credit hours and take full-time students four to seven years to complete. Students will be required to complete independent research, as well as written dissertations, prior to graduating.
A PhD in business is best suited to those interested in research and independent study. Graduates typically qualify to work in academia as professors of business or take on research-intensive jobs.
The DBA, on the other hand, is intended for those who plan to apply for upper management and executive positions at companies or organizations. These programs enhance students’ theoretical knowledge of business and business management so they are prepared for successful careers.
Earning any kind of doctoral degree in business will provide access to some of the best employment opportunities in the field. The most common employment opportunities include top executive, postsecondary business professor, postsecondary, education administrator, and economist.
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Become a Business Manager in Florida
The first step to becoming a business management professional in Florida is determining your ultimate career goals. Because the knowledge and skills attained from this type of degree can be applied to so many different industries, having a clear outcome in mind will help direct your search for the optimal academic program.
Even if you are unsure of your goals, you can still begin earning a business management degree. Many key components of the curriculum tend to overlap, making it easy to adjust your plans as you discover more about the field. Most colleges and universities also give students the opportunity to select concentrations to focus instruction on key subjects of interest.
Some of the most common options include:
- Project Management
- Human Resources
- Nonprofit Management
- Global Business
After obtaining the necessary degree(s), you will have the option of pursuing various certifications and/or licensures. It’s fairly uncommon for business management professions to require formal licensure but earning one or more credentials can drastically improve job and salary potential. Being certified in a specific area can also increase competitiveness during the hiring process. Most professionals in the field are free to choose which credentials they want to pursue. However, that some employers do require candidates have specific certifications. As a result, you should always review job application requirements prior to applying.
One of the most popular credentials for business management professionals is the certified business manager (CBM) designation. Those who attain this optional certification are expected to possess elite operational management skills. The certification is offered through various institutions with specialized accreditation, as well as some MBA programs.
Two other common credentials are certified public accountants (CPAs) and certified management accountants (CMAs). Business management professionals working in accounting are likely to benefit from acquiring either of these designations. Additionally, those planning to become CPAs are required to be licensed in Florida.
Business administration degree graduates may also be interested in starting their own businesses. Not all businesses and/or business owners in Florida have to be licensed. Depending on the type of company you plan to create, you may or may not need professional licensure. You will, however, need to decide on a corporate structure for your business, officially form your business, register your business name, and pay taxes on your business. Information regarding this process is provided by the Division of Corporations via the Florida Department of State.
Careers for Business Management Graduates
After earning a business management degree, you will be qualified to apply for a wide variety of positions in Florida.
Salaries and daily duties will vary, but some of the most common career options include:
- Sales Manager
- Financial Analyst
- Account Manager
- Operations Manager
- Benefits Specialist
- Director of Operations
- Account Executive
- Accounting Supervisor
- Regional Manager for Services Company
- Management Information System Specialist
- Project Manager
- Human Resources Manager
- C-Suite Executive
- Non-Profit Manager
- Customer Service Associate
- Business Analyst
- Administrative Assistant
- Marking Manager
- Project Manager
Project managers oversee projects for the companies and organizations they work for. They often generate goals and timelines, as well as dispense important information to their teams. These professionals also coordinate, document, and assign tasks to others, as well as manage budgets and resources appropriately. According to PayScale, project managers make an average base salary of $75,000 per year.
- Administrative Assistant
Administrative assistants provide administrative assistance at the companies and organizations where they work. They are often responsible for completing personal tasks for individuals, running errands, and fulfilling other tasks as assigned. These professionals also perform various secretarial duties including accounting, data entry, billing, inventory, correspondence, and record-keeping. According to PayScale, administrative assistants make an average base hourly rate of $16.25, or approximately $40,100 per year.
- Marketing Manager
Marketing managers are instrumental in the creation of various advertising or merchandising sales campaigns for companies and organizations. They may be responsible for a single product, a complete brand, or an entire company. These professionals often collaborate with product managers, monitor program performance, and develop market research studies. According to PayScale, marketing managers make an average base salary of $66,600 per year.
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- Human Resources Manager
Human resources managers oversee the policies, procedures, and compliance regulations in relation to the employees working at companies and organization. They are responsible for verifying that all employment activities follow local, state, and federal laws. These professionals also manage employee benefits and initiative programs. According to PayScale, human resources managers make an average base salary of $68,750 per year.
- Customer Service Associate
Customer service associates perform a wide variety of tasks but they are primarily responsible for assisting customers with issues and inquiries. They are often the first point on contact for the companies or organizations they work for, providing troubleshooting and technical assistance over the phone or in person. According to PayScale, customer service associates make an average base hourly rate of $12.08, or approximately $42,100 per year.
- Financial Analyst
Financial analysts study marketplace trends, demographics, and microeconomic factors for corporations and businesses. Based on their findings, they often offer their employers advice regarding bonds and splitting stock. These professionals maintain a thorough understanding of company resource investments and project how these investments will impact growth over time. According to PayScale, financial analysts make an average base salary of $61,950 per year.
- Director of Operations
Directors of operations manage employee productivity at the companies or organizations they work for. They may be responsible for making purchases necessary to maintain production, as well as coordinate closely with vendors and sellers. These professionals regularly utilize good negotiation skills. According to PayScale, directors of operations make an average base salary of $93,000 per year.