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What is Business Management?
Business management is an area that practically everyone might eventually be a part of during their career. All industries have managers. And there are many different kinds of managers. If there’s a career, there’s a need for a manager in that career.
All this to say, if you want to work as a manager, it’s quite likely that you will be able to do so. Figuring out what industry you want to work in is a major part of the process since managers are a combination of office professional and industry expert. The best managers have experience in the industries in which they manage and were successful in the early part of their careers. They know what’s needed at every level. Whether you want to work in sales, technology, healthcare, or education, having a solid foundation as a worker in your chosen career is the best approach. In the state or Montana, education, manufacturing, and farming are the largest industries. If you want to become a manager in those areas, then focusing on a career in those areas is the best idea. But there is also a need for managers in accounting, human resources, and other general business areas.
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Business Management Education in Montana
Business managers are in charge of the daily activities for an organization. They usually have other managers or supervisors from other departments that report directly to them. For example, the payroll supervisor, the hiring manager, and the accounting supervisor may all report to this person. A business manager might have another title such as general manager, office manager, or business supervisor, but regardless of the title, the position requires a person to know how the business is operating. From making sure all departments have the supplies they need, to ensuring that the company stays within its operating budget, a person in this position has to be able to handle anything thrown at them.
There are several levels of education you can attain in business administration. The level you choose to pursue depends on several factors, from financial to overall career goals. For instance, a person who wants to work in a field and decide if it’s the right career for them might get an associate degree, while someone who wishes to be a CEO for a finance firm is probably going to get a four-year degree and possibly an MBA. Below is a breakdown for each business management degree and what you can anticipate studying while you are in school.
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Online Associate Degree in Business Management (AS)
An associate degree in business management is the beginning level for anyone who wants to pursue a management position. In some organizations, this degree would be enough to enter the management field. However, for those who want to work at the corporate level, this degree could be enough to land entry-level position. To advance further, additional education would be required. In a two-year program, students will get a base education and a variety of business courses.
some of those courses include the following subjects.
- Business Ethics
- Business Law
- Computerized Accounting
These classes are in addition to the general education courses required to finish a two-year degree. Associate degrees generally take four semesters to complete, and most students finish in two to three years.
Online Bachelor's Degree in Business Management (BS)
Most people who get a four-year degree in business management have a specialization. These are additional courses taken on top of the general business administration core curriculum, which includes classes in accounting, management, and marketing.
For example, someone who wants to go into real estate management might take the usual courses and additional courses in real estate such as the following.
- Managerial Accounting
- Public Relations
- Real Estate Contracts
- Real Estate Management
- Real Estate Marketing
- Selling Real Estate
With a four-degree, graduates can apply for a variety of positions depending on their specialization. But the degree is enough to get an entry-level or even lower-level supervisory position in most companies.
Online Master's Degree in Business Management (MS or MC)
A Master’s in Business Administration, aka an MBA, is practically a requirement for anyone who is seeking management positions in a large corporation or company. The program is designed specifically to assist students with attaining the knowledge needed to effectively manage a company, employees, or both. The program generally takes three to five years to complete and may require either a master’s thesis or a comprehensive exam at the end of the coursework.
Those enrolled in these programs will study the following.
- Advanced Business Communication
- Business Analytics
- Business Statistics
- Financial Projections
- Managerial Accounting
- Marketing Analytics
- Quantitative Business Analysis
With an MBA and several years of work experience, a person could be tapped for middle-management positions and, in some cases, upper-level management position could be available to them.
Online PhD Degree in Business Management (PhD)
For those who wish to be considered subject matter experts or pursue a career in academia, a doctorate degree in business is a good choice. These programs are specialized to suit the ultimate goals of the student, but touch on all aspects of business, especially the management and analytical side of running a business. The degree generally takes seven years to complete and includes a dissertation that must be defended to a panel.
Those who pursue this degree will study the following business areas:
- Human Development (in an organization)
- Information Systems
- Operational Management
- Organizational Leadership
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Become a Business Manager in Montana
In order to become a successful business manager, there are a few essential steps that you must take. First, it is important to have a clear understanding of the role and responsibilities of a business manager. As a business manager, you will be responsible for overseeing all aspects of the company, from sales and marketing to finance and human resources. You will also need to develop strong leadership and communication skills in order to effectively manage a team and motivate them towards achieving common goals. It is also important to have a solid understanding of business concepts and be able to make sound decisions based on data analysis. If you are interested in becoming a business manager, then it is important to start by gaining experience in the field and pursuing formal education in business administration or management.
Let’s break down how to become a business management professional in Montana.
What’s your industry interest?
As was previously mentioned, real estate, healthcare, and education are the three largest industries in the state so, if you are interested in any of those areas, finding a job should not be an issue. However, management professionals are needed in every industry that exists, so you really don’t have to pick from the top three or even the top ten for that matter. Pick an industry you are passionate about and learn everything you can both formally and informally about the industry. If you can get an entry-level job or internship in that industry while you finish school, that’s even better.
Education is Power
For most people, their passion for an industry often leads to the desire to learn more. One way to is get a job in the industry and learn about it that way. But another way (which does play well with working in the industry) is to attain a formal education. The more education you attain, the more attractive you’ll look to potential employers, but even a low-level degree will be helpful. Choose from a community college or a university that can offer bachelor degrees and graduate degrees, depending on the level of education you intend to gain. If you are working in your chosen industry while you’re in school, this could help you advance faster and, if you need an internship, it will fulfill that requirement.
What Can I Do With My Business Management Degree?
Now it’s time to job search. If you aren’t currently working in your chosen field, it’s time to start applying for jobs in your desired field. Your school counselors should have helped with this task already but, if not, many online job search sites allow you to sit in your pajamas and apply for positions with the click of a mouse. If you’re already working in your chosen field, your additional education could qualify you for promotions or the opportunity to change companies.
Potential Careers for Business Management Graduates
Business management is a very large title with plenty of options. Depending on the industry, managers are needed in every facet of a business. Their responsibilities and titles might vary but, ultimately, they all have the same primary duties. Below are some of the kinds of jobs a person with an education and experience in business management might consider.
- Accounting Supervisor:
For those who are interested in a career in accounting, the next step after working in accounting is moving into account management. This usually requires additional education beyond the four-year degree needed to become an accountant, such as a master’s degree in business or accounting. Accounting supervisors oversee the other accountants in the department, as well as accounting clerks. They also perform general office duties and often report to the Chief Financial Officer or general manager if the business has one.
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- Sales Manager:
A sales manager is responsible for the actions and performances of a sales team. In some instances, the sales manager might also operate as the office manager. The sales manager trains the sales staff and monitors its performance. If a team has certain metrics that must be met, the sales manager is responsible for ensuring those metrics are met. Sales managers report to members of upper management and provide detailed sales reports as well as offers ideas on how to improves sales and streamline the sales process.
- Financial Analyst:
Financial analysts gather information about investments and possible business opportunities and then examine the opportunity and compare it to the needs of an organization. They then advise the organization whether or not the opportunity is in the best interest of the company. Analysts also work for individual investors, helping them pick the best financial options to help build their portfolios.
- Account Manager:
An account manager handles the ins and outs and needs of clients on a daily basis. They determine the clients’ needs and create solutions to meet them. There is often a team of account services, and the manager oversees the group. Sometimes an account manager has their own accounts to manage and other times they oversee the team who manages the accounts. The duties of these people will vary depending on the industry and needs of all involved.
- Director of Operations:
A director of operations is the person who manages the day-to-day activities of a business. Other departments report directly to the operations manager. Directors of operations report to senior management and take orders directly from them. Budgeting, hiring, and other asset allocations are handled by the director.
- Customer Service Associate:
Every business has people who field customer complaints and stave off situations that could escalate. These people are often referred to as customer service associates. They are specially trained to assist customers with their needs and some might be hired to do sales, while others might be assigned to placate annoyed or angry customers. Customer service associates are trained to do whatever can be done to retain customers, from showing empathy and understanding about a customer’s situation to escalating calls and complaints to management.