What is Business Management?
The business climate in Louisiana is red-hot. New businesses are showing up all of the time and the state is always trying to help new enterprises thrive and expand in the state. The state has been effective at attracting top industries such as manufacturing, real estate, and business services. All of these require management of various sorts. Manufacturing, for example, needs supply chain managers, operations managers, and other supervisors to oversee finance, human resources, etc. Real estate also needs management when it comes to developing and managing properties. Business services also need managers to coordinate IT workers, audit tax documents, and more.Read More
In order to make sure that all of these businesses operate smoothly and grow, the state needs plenty of new business management professionals every year. To answer this call, Louisiana's colleges and universities all support business management degree programs. They educate students with the most current knowledge and theories of management practice and this helps students bring new, innovative ideas to the table. Their innovative ideas help their firms gain a competitive edge and raises the bar for the whole state. In fact, the better Louisiana's schools are at educating budding business managers, the more competitive the whole state becomes.
Students in Louisiana can begin their business management careers with a variety of degree options. The state's community colleges support a variety of associate business degrees, which are a terrific way to launch a career. For instance, a student with an associate degree in accounting can enter the business world as an accountant. From there, their employer may have tuition reimbursement to help them complete a full bachelor’s business management degree. There are even online business degree options available in case students live too far to commute to their first-choice business school.
Finally, Louisiana's business students can proceed into a master’s business management program. The state also has many top MBA programs that not only enrich their students' business careers but help build Louisiana into a top contender in the national and international business community.
A business manager is a professional whose job is to oversee certain aspects of a business on behalf of their employer. Managers may work closely with employees and be responsible for providing leadership as well as administrative organization. Management professionals might also work more with systems and have less interaction with employees. Operations managers, for instance, might work to coordinate teams rather than lead one of their own. Supply chain managers also spend more time working with vendors or other parts of the supply chain.
Business managers are found working in a variety of business environments. They might work as supervisors on construction crews where they engage in part of the labor. Others might work in a formal business environment where they adhere to a formal dress code and work at a computer. Since every form of business needs a manager, managers work in all sorts of situations. Some even work as business administration consultants and spend much of their working life traveling to clients who need their services.
Business Management Education in Louisiana
Associate Degree in Business Management (AS)
One great way to get started in the world of business is by earning an associate business management degree from a local community college. Online colleges and universities may also offer an associate degree in business. The online option may open up more opportunities than a small Louisiana town can provide, without requiring any added travel or relocation efforts. It’s vital to make sure that any business degree program one applies to has full accreditation, with regional credentials being the minimum standard. Students should also investigate each associate business degree program to ensure that it satisfies their long-term business goals.
However, keep in mind that an associate business degree is more of a brief introduction to the subject. The bulk of an associate degree is concerned with completing core college curriculum or general education. Courses such as college algebra, writing and composition, as well as electives in the sciences, may take more time than business courses. However, there is enough time to take fundamentals, such as introduction to accounting or principles of management.
Bachelor's Degree in Business Management (BS)
Most employers look for a bachelor’s business management degree when hiring entry-level employees. That's because a four-year degree offers students ample time to dive deep into their subject matter without yet attaining the high level of specialization that comes with a master’s business management degree (MBA). A bachelor’s business degree also provides students with loads of educational opportunities that are not available in a two-year program.
For instance, bachelor’s degree students can work as business management interns for a term. Their college of business program will provide them with a faculty adviser who will grade their progress and help them make the most of their experiential learning experience. Students in a four-year business degree program may also expand their academic boundaries with added coursework. It is also possible to add a minor concentration or even a double major so that upon graduation there will be even more opportunities available.
Master's Degree in Business Management (MS or MC)
After completing a bachelor’s business management degree, many students apply for their master’s business management degree or an MBA. An MBA is considered the gold standard for business professionals because it provides them with a more well-rounded, yet focused, education. That's because the first year of an MBA is spent completing a general business curriculum that may include human resources, supply chain management, and finance. During the second year of an MBA, students choose a concentration which will determine the focus of the rest of their degree and help them obtain their career goals.
Those who opt for a management concentration will often find that their salaries and long-term prospects are greatly improved by that choice. In fact, once a student has an MBA on their resume, they can reap great rewards from that achievement. This is why some students start applying to MBA programs during their final undergraduate year. Some undergraduate programs even offer an accelerated MBA track that allows students to graduate with an MBA in a mere five years.
PhD Degree in Business Management (PhD)
A doctorate degree in business management is not often a requirement for employment these days. However, since more and more professionals are earning an MBA, it may be advised to complete a doctorate in business management. Those who are focused on certain aspects of business operations, such as information technology, supply chain management, or finance may particularly find a PhD worthwhile. Achieving a PhD may provide exactly the right sort of edge needed to reach the C-suites.
Some business professionals earn a PhD in other fields in order to succeed in business. For instance, there are people who hold doctorate degrees in mathematics or computer science but who leave academia, the usual goal of a PhD, to start their own companies. Their doctoral work impresses investors and future employees alike. Those in highly technical fields will find that they can continue to explore their specialty research area in their business life.
Become a Business Manager in Louisiana
Those who wish to become a business management professional in Louisiana have many available routes to help them achieve their career end goal. One of the first steps for any aspiring business professional is to determine whether they are cut out for the career. After all, many pursue business management as a default choice because it sounds pragmatic. However, those with gifts that could help them succeed in business are likely to do well in the career.
For instance, aspiring business management professionals likely have strong mathematical skills. As early as grade school this sort of talent starts to manifest and then later, in high school, students who take calculus often find that they are well-suited to business, accounting, or other finance positions. However, since business is so multi-faceted, personal traits will be important to recognize early on. Youngsters who are natural leaders should cultivate their talent for inspiring and managing others, while those with only strong mathematical skill can succeed in management positions in supply chain management or financial management, those who can succeed in interpersonal relationships will have many more career options.
To truly succeed, however, all aspiring business professionals should seek out a business management degree in Louisiana. For best success, business students should apply to the best business management schools in Louisiana. To determine which is the best, students should investigate each school's accreditation. Louisiana business colleges with credentials from AACSB, ACBSP, and IACBE should be at the top of any student's list. This is because those credentials mean that their business degree will be esteemed throughout the nation. However, Louisiana colleges and universities with regional accreditation are also very worthy of consideration and a bachelor’s degree form a regionally accredited institution will still help a student with admission to a top-notch graduate business degree program.
Business students can also look for a degree in business administration, which have a focus on management, finance, human resources, or any other special business focus. This approach can be useful for those who already have a specific business focus they wish to pursue. Once they achieve success in one of those fields, they’ll have an even better chance of being promoted to management. They can also make one of those areas the focus of their undergraduate studies and then proceed to graduate school for a master’s business management degree or an MBA.
Careers for Business Management Graduates
- Sales Manager:
After spending a few years working for commission, many salespeople decide to move into management. In this position, they work to motivate their sales team. They help sales agents remain on target to succeed and offer additional training sessions to help salespeople learn more about the products they are selling, the art of sales itself, and other topics. The downside to sales management is that the salary may not be as much as can be earned on commission, though salary is a lot easier to count on.
- Financial Analyst:
This is a terrific position that helps students jump into the world of business. The position generally entails working long hours on spreadsheets. Analysts often spend time assessing companies and their comparable competition. In the investment banking world, financial analysts track their clients in comparison to other comparable companies. After two years in investment banking, financial analysts cycle out of their position and into an MBA program. Upon their return to investment banking, they enter the field at the associate level.
- Account Manager:
This title can apply to business administration professionals in many industries, but it's often found in advertising and marketing. Account managers work with their creative team, media buyers, and more to ensure that the client is happy with the services they receive. Additionally, account managers often are charged with bringing business to their firm.
- Operations Manager:
These business professionals are in charge of the day-to-day operations of their business. In an office environment, an operations manager might be called the office manager and thus be in charge of stocking supplies and equipment. In a manufacturing enterprise, an operations manager oversees how the products are made. They may inspect the machinery and personnel in charge of product creation while ensuring that the product successfully makes it from a lump of raw materials to a marketable item.
- Benefits Specialist:
Every major firm needs a benefits specialist to ensure that its employees receive the best, most affordable benefits package possible. These professionals not only must assess the financial data involved in each benefits package, but they also need to ascertain the needs of their employees. Finally, they need strong negotiation skills so that they can wrangle deals that make everyone happy.
- Management Information System Specialist:
This position sits at the intersection of business and technology. Where IT professionals are only concerned with the technology itself, management information system specialists must ascertain the business' technology needs and then make recommendations to the IT or other departments. These business administration professionals need to have communication skills that enable discussion with both the technical staff as well as less-tech-savvy management.
- Marketing Manager:
These businesspeople are often seasoned marketing professionals who have moved up into management. Marketing managers can start out as creative professionals or analytical marketing geniuses. However, once they rise into management, they must be able to coordinate a marketing campaign from the analysis stage through the entire creative process. There are also marketing managers who are more specialized and who may coordinate special marketing events or even their creative or analytical team.