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What is Business Management?
A business manager is a leadership role in an organization. The manager is typically a supervisor and head of an organization, a specific department, or even a particular function. Managers develop and carry out strategies to promote maximum productivity and efficiency from the areas of their responsibility.
A business manager’s precise role depends on the organization that he and she leads. Typically, business managers oversee day-to-day activities. Managers can work in key areas like human resources and perform organization-wide functions such as performance measures.
Business managers operate at all levels of an organization. The CEO is a business manager, as are property managers, product managers, and general managers. Business managers can learn through formal education and employers also value work experience. Industries, trades, or businesses can have special demands for knowledge and know-how; a body of skills and abilities applies to nearly every business manager role. Communication skills are also fundamental to successful management.
Minnesota has a diversified economy with traditionally strong components in agriculture, education, and manufacturing. Health services and education is the largest sector for employment in the Minnesota workforce. Manufacturing is a major source of economic activity. The state is also the headquarters location for seventeen of the Fortune 500 corporations. A business management degree in Minnesota will fit well into the job market and offer opportunities for students and graduates.
The diversity of the economy is a strength. While manufacturing is a leading category, several other categories have nearly the same amount of economic activity. Graduates can pursue business management across a wide range of settings. Health, medical, and non-profit employers offer management professionals choices in fields that help residents to better their quality of life. The state government needs management talent to deliver services to residents in urban, suburban, and rural settings.
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Online Business Management Education in Minnesota
Minnesota is an excellent place to study business management. Students can attend on-campus, online, or in a mix of in-person and remote learning. The vibrant corporate and industrial sectors offer challenging opportunities for internships and practical learning experiences.
Professional services, finance, and insurance have extensive demands for management and business talent. Education, health services, and social assistance are fields that uses large organizations to deliver benefits and services. Business and management professionals occupy essential roles in wholesale and retail trade. Agribusiness and food manufacturing are vital Minnesota industries with intensive workforce needs.
The best Business Management Schools in Minnesota have regional and special accreditation. Regional accreditation covers the entire college or university. Special or program accreditation assesses specific programs. Employers, government agencies, and educational institutions rely upon accreditation as an indicator of quality education.
The undergraduate curriculum and graduate studies provide theoretical knowledge, practical aspects of business, and experiential learning. Schools aim to prepare students with high-demand, transferrable skills in business administration so that they can succeed in a variety of fields. The Minnesota economy requires business management professionals in a wide range of fields including business and technology, international business, financial institutions, and business development.
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New businesses, more complex organizations, and expansion of existing firms drive the demand for business management talent. Management education and training can enhance careers in a huge variety of fields. For example, a marketing professional can add an MBA or master’s degree in management to move up to senior and leadership roles in the field of marketing.
Online Associate Degree in Business Management (AS)
An online business management associate degree is a two-year degree that requires about sixty credit hours of coursework. Students study social sciences, communications, and statistics as part of a well-rounded education. Students must basic complete coursework in accounting, business fundamentals, and management. They must also gain a solid base in business law, finance, and business ethics.
An associate is an entry-level degree for a limited range of positions. Assistant store manager, retail sales manager, account executive, and administrative assistant are some of the positions you might gain with this degree. When combined with work experience, an associate degree can also open a career path in business management and project management.
An associate degree is also an excellent foundation for further learning. Graduates can learn through work experience and further online education. Students can use the completed associate degree coursework toward a bachelor’s degree. Two-year schools often have agreements with four-year schools that enables students to apply their coursework toward a bachelor’s without worrying about whether or their credits will transfer. However, if you are hoping to make use of one of these agreements, make sure your chosen community college has one before choosing which school to attend. Not all of them offer the same access to higher-level education.
Online Bachelor's Degree in Business Management (BS)
An online bachelor’s in business management is the typical entry-level degree for a wide range of roles and positions. This course of study requires about 120 credit hours and full-time students can complete the degree in four years of study. Students will gain a well-rounded education including English, literature, and social sciences through their general education and then complete core courses in their major.
The core courses of business management push students to learn the fundamentals of business, management, and business communication skills. Students can use electives and internships to gain practical experience. Electives can help students focus on one or more aspects of business administration like healthcare, non-profit organizations, or social services.
A bachelor’s degree is ideal for entry-level employment in business management and corporate entrepreneurship, as well as allowing students greater access to promotions and increased pay. The below-listed items are typical core coursework subjects for a bachelor’s degree in business management.
- Principles of Marketing
- Principles of Management
- Organizational Change
- Business Accounting
Students can focus on specialized areas through certificate programs. The bachelor’s degree is the foundation for graduate study to develop depth and expertise.
Online Master's Degree in Business Management (MS)
Students seeking an online graduate degree in business management can select the MBA or an online Master of Science in Business Management. An MBA is a popular degree and students can complete it in two years of full-time study. These programs are typically designed for students with a significant level of prior business experience or exposure. The curriculum seeks to provide a deep dive into subjects in business and management with room for electives and specialization.
- Example Coursework for Master’s in Management
Applied Business Statistics and Analytics, Applied Microeconomics, Business Communication for Managers, Evaluating Financial Performance, and Marketing Management
- Example Coursework for MBA
Positive Leadership and Organizing, Cost Measurement & Control, Financial Management, Communicating in a Virtual World, Capital Markets and Investment Strategy, Bargaining and Influence Skills, and Negotiation Strategy in a Global Economy
Students seeking a shorter path can select a master’s degree in management. A general management degree is often a one-year course of study ideal for recent graduates eager to start a career in business. However, graduate study can be technical and specialized. An MS program might offer educational benefits aimed at mid-level executives seeking to move to upper management.
In either graduate path, students will gain leadership and supervision skills. Specializations include supply chain management, international business, project management, healthcare administration, and many more.
Online PhD Degree in Business Management (PhD)
Doctoral studies in business management help candidates become experts and leaders in their fields. A PhD is best earned by those looking for academic and advanced research roles in business and technology. A doctor of business management degree is ideal for academic leadership roles, as this can allow you to gain tenure and increase your credibility greatly.
A doctoral degree requires about 60-65 credit hours of graduate coursework. A DBM can be a three- to four-year degree but could take longer if the school requires a thesis or dissertation. Coursework includes broad topics like organizational behavior, research method, and advanced statistics, though students are likely to choose their own degree focus when they choose a research subject for their doctoral dissertation.
Doctoral candidates can blend studies and research with current employment in the fields they study. Doctoral candidates also often pursue their degree while teaching at the college level.
The Doctor of Business Management equips graduates for senior leadership roles in financial institutions, educational instruction, and non-profit and public organizations. Universities seek PhDs to teach undergraduate student major and graduate students.
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Become a Business Manager in Minnesota
Education is an excellent way to become a business management profession in Minnesota. The state economy relies heavily on businesses both public and private to deliver goods, products, and services. Minnesota employers seek managers of nearly every type and background. A bachelor’s degree is the entry-level of education needed for business and management jobs. However, master’s degrees are preferred for specialized roles and senior positions.
The MBA is a popular degree in higher levels of management, and many graduates have prior business experience. Because the MBA has grown in popularity, students might consider a doctoral level as a means of standing out and offering a higher level of expertise. However, neither a DBA nor PhD is a necessary qualification for a career in business. Expertise has advantages in the business and non-profit sectors.
College education at the undergraduate and graduate levels are both excellent foundations for building a career in business management. However, when selecting a school or program, students should make sure that the school has accreditation. Business programs can also have programmatic accreditation. Program accreditation by one of the leading accreditation agencies is a widely accepted assurance of quality business education.
The leading accreditation agencies for business programs are the Accreditation Council for Business Schools and Programs (ACBSP), Association to Advance Collegiate Schools of Business International (AACSB), and accounting programs by the Association to Advance Collegiate Schools of Business International (AACSB).
Experience also adds value to education. Business management can be multidisciplinary, and knowledge and experience combine in particular industries or settings. Experience adds value to the employee’s potential contributions to an employer or organization. Students can gain experience while pursuing degrees. Undergraduate students can use electives to get internships or other those of placements in real-world situations. Experiential learning offers the advantage of experience and demonstrating capacity to employers. Graduate students can use research projects and thesis requirements to demonstrate knowledge and experience.
Certificates can also help establish knowledge in one or more specialized areas. For example, a Project Management Professional certificate demonstrates special knowledge and ability for managing a type of activity or function. Similarly, construction management is an area of expertise demonstrated by certification. Certifications require continuing education to stay current and in good standing with the certification authority or association.
Potential Careers for Business Management Graduates
- HR Managers are business management professionals that plan, coordinate, and direct the administrative personnel functions of an organization. The role is essential for any organization because it involves recruiting and retaining the talent needed to perform daily operations and meet the organization’s goals. However, these professionals must comply with regulations and policies concerning diversity, fairness, and equity.
- Benefits Specialists are management professionals that operate in the area of human resources. Benefits specialists help manage organizational programs for employee compensation and employee benefits. Employee compensation includes raises, compensatory time and attendance, and incentives. Benefits are essential to an organization’s ability to attract and retain key personnel and the workforce needed to succeed. Benefits include retirement plans, insurance, health insurance, vacations, and bonuses. Many organizations balance compensation with attractive and valuable benefits packages. Popular items include dental, vision, and medical coverage. Retirement plans can offer employer contributions to 401(k) and disability coverage.
- Operation Managers are management professionals that help manage the day-to-day activities and support services of a business or organization. Operations can cross organizational lines and involve connected or disparate parts of an organization. The director of operations can help reduce costs, increase efficiency, and improve performance. The director must work with upper management to coordinate on policy; they then translate policy into actions across the organizational structure. Directors of operation must be able to communicate ideas, coach and encourage improvement, and have strong organizational skills.
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- Project Managers are management professionals that have special training and knowledge to plan, organize, and direct a project from conception to completion. Project managers can manage one or more projects for an organization using skills and experience to ensure that the project meets its goals, on time, and within budget. Project management also operates in a range of settings. Popular positions are construction management, IT project management, and there are many more. PMs handle communications, control expenditures, and oversee personnel. Communications are an essential part of the role. In addition to internal reporting, the PM works with all parts of the project, outside partners, and stakeholders.
- C-suite Executives are top management professionals. "C" stands for chief, and it includes CEO, COO, CIO, and CFO positions. The C-suite positions are the top executive positions in the modern corporation. These individuals are leaders that exercise their power and authority to make sure the business stays on track. For example, The CFO can legally commit the corporation to its financial documents, the Chief Information officer typically controls access to data and runs cyber security. Titles can vary by organization; a college CEO is often called college president. C-suite positions typically come with high levels of compensation and participation in bonus or stock arrangements.
- Administrative Assistants are management professionals that provide support for organizational functions. For example, they may distribute information to employees that need to know the details of a project or activity. They facilitate communications by phone, email, or other technology. Administrative assistants manage records and ensure that personnel have appropriate access to data and business tools. Administrative assistants often work in roles that are behind the scenes; they can be the glue that holds an organization together and keeps operations running smoothly.
- Public Administrators
- Supply Chain Managers