What is Business Management?
There are many benefits of earning a degree in business management. A business degree will give you a broad education and can prepare you for a variety of high-paying business careers. Most business management programs include courses in accounting, finance, marketing, human resources, and operations. In addition, many schools offer specializations in areas such as entrepreneurship, information systems, international business, or supply chain management.
While most business administration degree programs are practical and applied, you should have an aptitude for numbers. If you are a math whiz, you'll probably excel in your foundation business classes, though you can succeed without this is you work hard. Besides math, you'll also need problem-solving and leadership skills. This is where those with excellent interpersonal skills will shine. Many programs also involve real-world scenarios that challenge students to develop business plans for new products. Internship opportunities are a common part of business administration degrees, so you should be prepared for these opportunities and ready to take advantage if you find a great opportunity.
If you're looking for a business management program in New Mexico, you have plenty of options. Both public and private colleges in the state offer business management degrees at all levels, from associate to doctoral degrees. Whether you're interested in a traditional program or want to study online, you should be able to find a program that fits your needs and interests.
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Online Business Management Education in New Mexico
In its most basic form, management is the art and science of controlling the resources of a business. Management professionals are responsible for the planning, implementation, and control of a company's strategic decision making. These individuals have a broad range of responsibilities including helping businesses make informed decisions, managing employees, and directing the vision of a company.
Those with business management degrees often hold positions in leadership and may even gain executive positions within a company. Some obtain success by completing a bachelor's degree, while others continue on to pursue an advanced degree in business to further their careers, such as a master’s. As a result, credential differentiation has become increasingly important in the business world and many practicing professionals with a bachelor's degree find their career growth potential capped at mid-level management positions unless they choose to earn certifications or a higher-level degree. This is why many go back to school to earn an advanced degree in order to qualify for better jobs.
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In addition to managing the business itself, a business management professional is responsible for overseeing employees and developing and implementing strategies to increase revenue and profitability. However, the exact day-to-day role of a business manager will depend on the company they work for, the size of the company they work for, and the industry they work within.
Online Associates (AS)
An online associate degree in business management is a great way to get started in your career in business. It provides you with a solid foundation in the basics of business and can prepare you to specialize in a particular area of business. Plus, it may help you to gain access to low-level management jobs and can prepare you to quickly complete a bachelor’s degree.
In today's economy, it’s more important than ever to have a college degree. However, not everyone can afford to attend a traditional four-year university. That's where a community college or online associate degrees in business management comes in. These programs offer the same quality education as traditional colleges, but at a fraction of the cost. And, if you choose to earn a degree online, they can be completed from anywhere in the world.
Online Bachelors (BS or B.B.M.)
An online bachelor's degree in business management can prepare you for a variety of jobs including those in marketing, sales, analysis, and management. Depending on your interests, you can also opt to specialize in a particular field, such as marketing or finance. Careers in business management often involve a diverse set of responsibilities, such as planning and executing marketing campaigns, analyzing sales trends, and overseeing other employees. While you can get a good starting salary with a bachelor's degree in business management, you may also want to consider how you can further your education by earning a graduate or professional degree.
Typically, a bachelor's degree in business management consists of 120 credit hours, with many courses covering general education as well as business-specific concepts. Some programs emphasize hands-on learning by requiring students to complete internships or capstone projects. Both online business-related programs and traditional programs require students to complete their credits with courses including general education, such mathematics and science, and core business courses, such as those in business law and/or ethics. You should also look for degree-specific coursework, such as operations management or managerial marketing, when you are considering which program to attend. This is especially true if you already know that you want to focus on management within a specific industry, such as marketing or healthcare.
Online Masters (MS)
If you have a bachelor's degree in a related field, you may qualify for access to a master's degree in business management or business administration (MBA). Depending on your current employment situation, you should be able to complete one of these programs in 20-30 months, or two to three years, if you're working full-time. While some universities require prerequisite courses in marketing, accounting, finance, and other business-related fields, some programs do not. In addition to your bachelor's degree transcript, you may also need to submit your GMAT or GRE score. (Some schools are waiving this requirement, but certainly not all.)
An in-person or online master's in business management will help you build practical management skills and give you in-depth knowledge that will build upon the foundation laid in your undergraduate degree. It will teach you how to implement organizational plans, develop strategies for achieving organizational objectives, and coordinate operational activities. These degrees can prepare you to enter management positions and advance to a higher level of responsibility. Regardless of your current job title, a master's degree in business management can help you succeed and advance your career.
Online Doctorate (PhD)
Getting a PhD in business management is, in some ways, the next logical step after earning an advanced degree. However, it’s important to know early on that there are very few situations in which a PhD in business is required. Those who reach C-suite roles usually do so with a master’s degree. However, a PhD can help you move forward into an academic or research role if you’re ready to get out of a business role.
You can earn an online doctorate in business administration from accredited universities all over the country. Coursework in these programs is designed to help students gain experience in research and teaching. An online PhD in business management degree will teach students about new technology and applying research methods in business settings, as well.
Online Certifications
There are many reasons to earn an online business management certificate. Whether you're looking for an entry-level job in business, government, or non-profit organizations or if you want to advance your education in order to propel your career even higher, a business management certificate will prepare you for the challenges that lie ahead. Many online business management certificate programs can be completed in as little as eight weeks and are completely self-paced. Although they don't require you to attend classroom meetings, some programs require virtual meetings to help students collaborate and ask questions.
Online business management certificate programs can provide students with in-depth knowledge in particular aspects of business operations and leadership. They can help teach you to effectively manage people, processes, and information and they also equip certificate earners with practical experiences in business intelligence, IT leadership, and business research. You can tailor the course of study to meet your career objectives by choosing a certification that best meets your needs. There are dozens of certifications that can help you no matter what industry you are in.
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Become a Business Manager in New Mexico
If you're looking to become a business management professional in New Mexico, there are a few important steps you might want to take.
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Step 1: Earn a bachelor's degree in business administration or management:
There are many different bachelor's degree programs in business administration or management that can help you launch your career. A degree in business administration can give you a strong foundation in the basics of business, while a degree in management can teach you how to effectively lead and manage teams. Both degrees can prepare you for a variety of careers in the business world.
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Step 2: Gain experience in the field by working for a company in a related position
By doing this, you'll develop an understanding of how the industry works and what specific tasks and responsibilities are involved in business management. Additionally, you may have the opportunity to learn from experienced professionals who can provide guidance and support as you continue your career development.
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Step 3: Obtain certifications and/or complete specialized training programs
Business management is a versatile and in-demand field, and there are many different ways to specialize within it. You can find certification and training programs in a wide range of areas such as human resources management, accounting, marketing, and more. By choosing one of these specialized programs, you can focus your studies on the area of business management that interests you most and give yourself the best chance for success in your career.
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Step 4: Establish connections with other professionals
It’s important for professionals in business management to establish connections with other professionals. These connections can provide support, ideas, and resources. Additionally, these connections can help professionals learn new techniques and strategies and gain inside information when new positions open up. There are many ways to establish connections with other professionals. One way is to attend professional conferences or meetings. Another way is to join an online forum or social media group related to business management.
What Can I Do with a Bachelor's in Business Management?
Whether you're a recent graduate looking to enter the workforce or an adult returning to school to make a career change, earning a degree can be an important step toward succeeding in a new career. A degree in business management can open doors for promotion in the workplace and allow you to put classroom knowledge into practice. A business degree can also help you discover new industries and jobs, so you can be a part of the business world even before you graduate.
When you graduate from a business management program, you will be well-prepared for any number of careers. You'll gain the fundamental business skills necessary to apply your degree to many fields such as accounting, human resources, and marketing. In addition, business management students often have a broad knowledge that can be applied to international business, human resources, sports management, and healthcare administration. Business management degrees are widely relevant to today's job market, so you'll be prepared for many different career opportunities.
Potential Careers for Business Management Graduates
- Operations Manager:
An operations manager will be responsible for overseeing the day-to-day operations of the company. They will be in charge of ensuring that all departments are running smoothly and efficiently. They will also be responsible for developing and implementing strategies to improve productivity and profitability.
Necessary Requirements:
- Bachelor’s degree in business administration or related field
- 5+ years of experience in management or operations role
- Strong leadership and decision-making skills
- Excellent communication and interpersonal skills
Estimated Salary
- The median annual wage for general and operations managers in the US in 2021 was $97,970
- The mean annual wage for general and operations managers in New Mexico is $107,260
- Accounting Supervisor:
An accounting supervisor is responsible for the accuracy and completeness of the accounting records. They will also be responsible for ensuring that the accounting team meets deadlines and provides accurate financial reports.
Necessary Requirements:
- Bachelor's degree in accounting or related field
- 5+ years of experience in accounting
- Supervisory experience
Estimated Salary
- The median annual wage for accountants and auditors in the US in 2021 was $77,250
- The mean annual wage for accountants and auditors in New Mexico is $71,650
- HR Manager:
An HR manager is responsible for overseeing the human resources department and ensuring that all HR functions are run smoothly and efficiently. They will develop and implement HR policies, oversee the recruitment and selection process, manage employee records, and administer payroll and benefits. They will also be responsible for investigating and resolving any employee issues or concerns.
Necessary Requirements:
- Proven experience as an HR Manager or similar role
- Excellent communication and interpersonal skills
- Strong organizational and time management skills
- Ability to handle confidential information with discretion
- Proficient in Microsoft Office applications
Estimated Salary
- The median annual wage for human resources managers in the US in 2021 was $126,230
- The mean annual wage for human resources manager in New Mexico is $108,180
- Business Analyst:
A business analyst is responsible for analyzing an organization's business processes and identifying areas of improvement. They work with stakeholders to understand their needs and requirements and develop solutions that streamline processes and improve efficiency. They also document business requirements and create specifications for system changes.
Necessary Requirements:
- Bachelor's degree in business administration, computer science, or a related field
- 2-4 years of experience in business analysis, process improvement, or a related field
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills
Estimated Salary
- Account Manager:
An account manager is responsible for managing and developing relationships with key accounts: customers and clients. They will work closely with account teams to ensure that client needs are being met and that targets are being met. They will be responsible for identifying new business opportunities and ensuring that the account portfolio is profitable.
Necessary Requirements:
- Proven account management experience
- Strong relationship building skills
- Ability to identify new business opportunities
- Excellent communication and negotiation skills
Estimated Salary
- The median annual wage for sales managers in the US in 2021 was $127,490 and general and operations managers earned $97,970
- The mean annual wage for sales managers in New Mexico is $99,830 and general and operations managers earned $107,260
- Regional Manager, Services Company:
A regional manager is responsible for the overall management and operation of the company's services in their assigned region. They ensure that all regional goals and objectives are met in a timely and efficient manner, and that high standards of customer service are maintained at all times. They oversee a team of service managers and coordinators, and work closely with other departments to ensure that all company procedures are followed.
Necessary Requirements:
- Proven management experience
- Strong leadership and interpersonal skills
- Excellent organizational and time management skills
- Strong customer service orientation
Estimated Salary
- The median annual wage for facility managers in the US in 2021 was $97,930 and general and operations managers earned $97,970
- The mean annual wage for facility managers in New Mexico is $92,750 and general and operations managers earned $107,260
- Non-Profit Manager:
A non-profit manager is responsible for the overall management and operation of the non-profit organization. They are in charge of developing and implementing strategies and programs to achieve the organization's goals and objectives. They also oversee the financial management of the organization and ensure that it is compliant with all laws and regulations.
Necessary Requirements:
- Bachelor's degree in business administration, public administration, or a related field
- 5 years of experience in non-profit management
- Strong financial management skills
- Excellent communication and interpersonal skills
Estimated Salary
- The median annual wage for general and operations managers in the US in 2021 was $97,970 and fundraising managers earned $100,810.
- The mean annual wage for general and operations managers in the US in 2021 was $107,260 and fundraising managers earned $89,890.
- Sales Manager:
A sales manager is responsible for developing and managing the sales team, as well as creating and executing sales plans. They will work to increase sales and grow the company's market share. A sales manager will also be responsible for training and coaching sales staff, managing customer relationships, and developing new business opportunities.
Necessary Requirements:
- Proven experience as a Sales Manager or similar role
- Strong leadership and people management skills
- Excellent communication and negotiation skills
- A results-driven attitude
- A bachelor's degree in marketing, business, or a related field
Estimated Salary
- The median annual wage for sales managers in the US in 2021 was $127,490
- The median annual wage for sales managers in the US in 2021 was $127,490.
- Management Information System Specialist:
A management information system specialist is responsible for designing, implementing, and maintaining the organization's management information system. They work closely with managers and staff to ensure that the system meets the needs of the organization.
Necessary Requirements:
- Bachelor's degree in computer science or a related field
- Experience with management information systems
- Strong analytical and problem-solving skills
Estimated Salary
- The median annual wage for computer and information systems managers in the US in 2021 was $159,010
- The mean annual wage for computer and information systems managers in New Mexico is $129,710
- Administrative Assistant:
The administrative assistant will provide support to the office by performing a variety of administrative and clerical tasks.
Necessary Requirements:
- A high school diploma or equivalent is required for this role
- At least one year of experience working in an administrative or clerical capacity is preferred
- Strong written and verbal communication skills are required
- Proficiency in Microsoft Office Suite is required
Estimated Salary
- The median annual wage for secretaries and administrative assistants in the US in 2021 was $39,680; executive secretaries and administrative assistants earned $62,060.
- The mean annual wage for secretaries and administrative assistants in New Mexico is $38,520; executive secretaries and administrative assistants earn $64,420
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