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What is Business Management?

Are you interested in enrolling in a business management degree program in Ohio? Majors in and related to business are highly popular throughout the United States as the topics covered tend to be applicable to careers in many different industries. This often means that graduates are considered qualified to apply for a wide variety of jobs, increasing professional prospects significantly.

While programs differ from institution to institution, most colleges and universities strive to establish curriculums that offer students opportunities to develop and hone skills in many areas. Generally, this include extensive instruction related to business, management, finance, leadership, and marketing. These are all subjects that graduates will be able to utilize across numerous fields and apply in almost any workplace.

According to the U.S. Bureau of Labor Statistics, employment in management occupations is expected to increase by 9% from 2020 to 2030. This is about as fast as the average for all occupations and will account for an additional 906,800 new positions in the field. Several factors are likely to impact this growth, but most job openings are expected to result from the creation of new organizations and the expansion of currently existing ones.

Business managers are generally hired by companies, agencies, or organizations to supervise other employees and oversee various essential daily activities. There is a need for this type of assistance in almost every industry, which means that employment opportunities for qualified individuals in this field are readily available. An added benefit of this is that business management professionals are often able to select jobs that align with their personal interests and passions.

Because business managers can be found working in almost any industry, their tasks, expectations, and responsibilities can vary wildly based on employer size and preference. Some of their most commonly assigned tasks often relate to hiring, training, and evaluating workers, but they may also spend a significant amount of time developing and implementing budgets, preparing fiscal reports, and verifying policy compliance. They are also often in charge of ensuring that employees have easy access to all the resources needed to be productive and that overall financial goals are met. As job specifics can often differ from company to company, however, professionals should always carefully read position descriptions prior to submitting applications.

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Online Business Management Education in Ohio

It's important for prospective students and professionals to realize that some industries and roles are expected to experience higher increases than others. For example, employment for financial managers is projected to increase by 17%. Even more significant is that medical and health service managers are likely to see a rise of 32%. Notably, some of the fastest-growing industries include computer and information systems, finance, lodging, and social and community service.

Professional and business services is the second largest industry in Ohio. It accounts for $77.3 billion in revenue each year. Those pursuing work in this field should also realize, however, that many companies and organizations in the state benefit from hiring individuals with knowledge and experience in business. According to the U.S. Bureau of Labor Statistics, the state employed 319,410 people in business and financial operations in May of 2021. Ohio also tends to pay professionals in these professions well. Their annual mean wage in 2021 was $74,580, which is significantly higher than the state’s annual mean wage of $53,170 for all occupations.

The majority of professionals in this field choose to obtain some level of higher education. While online learning makes it easy to attend classes and complete coursework from nearly anywhere in the world with internet access, prospective students desiring to find employment in Ohio after graduation will benefit from enrolling with local institutions. Many colleges and universities in the state offer business management degree programs, as well as other relevant and related majors. Choosing one of these schools will result in a more targeted and regionally appropriate education. Not only do these institutions have a better understanding of nearby employer needs and preferences, but they also tend to have established relationships with many companies and organizations. Both of these factors can make gaining internships and/or professional employment significantly easier.

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Some of the industries that commonly hire business managers include:

  • Sales
  • Finance
  • Marketing
  • Global Business
  • Entrepreneurship

Another benefit of earning a degree in this field is that students are often encouraged to develop skills that can be easily transferred among professions. Many colleges and universities create curriculums that place particular focus on analytics, leadership, and research. This allows graduates to thrive in almost any work environment.

While it’s possible to find jobs in the field without academic degrees, most business management professionals choose to pursue higher education of some kind. This is because the majority of employers expect candidates to be well educated, although requirements vary depending on the type of position and corresponding responsibilities. Bachelor’s degrees are prominent, but prospective students can enroll in associate, master’s, and doctoral programs as well. Many colleges and universities also offer professional certificates, which can be particularly helpful when transitioning into business from another field. Prospective students should consider the benefits and drawbacks of each education type carefully as they decide which option will suit their ultimate career goals best.

Online Associate Degree in Business Management (AS)

Associate degrees in business management generally consist of 60 credit hours of coursework that takes full-time students two years to complete. Every program is different, but most are comprised of both general education and major-specific class requirements. This typically results in students receiving a basic introduction to various key topics in business including economics, accounting, and communication.

This type of degree is most appropriate for those interested in obtaining entry-level employment in the field right away. As online graduates often possess strong foundations in basic business concepts, they typically qualify for jobs as administrative assistants, executive assistants, food service managers, bookkeepers, office managers, human resources employees, and office clerks. Notably, however, associate degrees do not always satisfy education requirements for potential employers. In fact, it is rarely sufficient to obtain mid-to-upper-level professions. Supervisory roles, in particular, will require more advanced degrees. Graduates may also have fewer advancement opportunities and/or earn less money than those who continue their educations.

Fortunately, those with an online associate degree from an accredited community colleges can transfer the course credits they earned to other institutions and have them applied toward bachelor’s degrees. While every college and university is different, many accept between 60 and 90 hours, which means students can enter as juniors instead of freshmen.

Online Bachelor's Degree in Business Management (BS)

Bachelor’s degrees in business management generally consist of 120 credit hours of coursework that takes full-time students approximately four years to complete. As with associate degrees, curriculums usually combine both general education and major-specific content. Students can expect to obtain a relatively broad introduction to the field while developing many relevant skills that will be helpful in most business settings.

These types of online degrees are ideal for individuals seeking entry- to mid-level employment in the field. Graduates commonly qualify for employment as financial analysts, human resource specialists, and management consultants. Notably, the U.S. Bureau of Labor Statistics (BLS) reports that the majority of management occupations in the United States require candidates to have bachelor’s degrees.

Not all graduates pursue employment right away, however. Many choose to enroll in further education programs. Prospective students should be prepared to meet minimum grade point average (GPA) and Graduate Record Examination (GRE) test score standards.

Online Master's Degree in Business Management (MS or MC)

Master’s degrees in business management generally consist of 30 to 60 credit hours of coursework that takes full-time students one to two years to complete. Program specifics can vary significantly from institution to institution, but most no longer require students to take general education classes. Instead, instruction focuses solely on major content, allowing those enrolled to further develop and hone the knowledge and skills in the field.

Alternatively, students can choose to enroll in master of business administration (MBA) degree programs. These typically emphasize the technical aspects of planning and execution in business and are ideal for those interested in pursuing supervisory positions.

These types of degrees may not be necessary for many professions in the field, but they are often very helpful in making candidates more competitive, especially when being considered for leadership roles. As a result, many graduates also promote faster and earn higher salaries. Some examples of common employment include training and development managers, top executives, public relations and fundraising managers, human resource managers, information technology managers, financial managers, industrial production managers, and management analysts.

Online PhD Degree in Business Management (PhD)

Doctorates of business administration (DBAs) and related PhD programs generally consist of between 90 and 120 credit hours that take full-time students four to seven years to complete. Both options are considered terminal degrees, so students will receive the highest level of education available in the field. Curriculums vary by institution, but most are comprised of classes meant to provide in-depth knowledge that can be applied to research, instruction, or leadership roles. In addition to academic courses, students often perform independent research before defending written dissertations to a graduation board.

These types of degrees are rarely needed for business management professions outside of research and education. They can, however, lead to some very prestigious opportunities in the field. The most common employment options include top executives, postsecondary business professors, postsecondary education administrators, and economists. Those interested in research will benefit most from enrolling in PhD in business degree programs, while those seeking upper management and executive positions should give preference to the DBA.

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Become a Business Manager in Ohio

The first step to becoming a business management professional in Ohio is researching potential career options and determining your ultimate goals. Once you have identified which profession and industry you are most interested in, selecting the most applicable academic degree program will be significantly easier. If you are still undecided, most colleges and universities allow students to change course partway through your education. In fact, most business programs encourage those enrolled to explore various aspects of the field before picking a concentration, or specialty area.

Some of the most common specializations are:

  • Finance
  • Project Management
  • Human Resources
  • Nonprofit Management
  • Marketing
  • Global Business
  • Entrepreneurship

Once you have obtained the necessary degree(s), it may be beneficial to explore some of the various certifications and/or licensures available. Business management professionals often choose to pursue one or more of these credentials because they show competence and allow for further specialization in particular facets of the field. Earning certifications often improves employment prospects, especially when it comes to applying for higher-level positions or competing for promotions. They can also lead to more pay potential.

Notably, not all business management jobs require candidates to possess any extra credentials. Those that do, however, often include their expectations in job postings. As a result, it’s important to review this information carefully before submitting applications.

One of the most popular credentials for business management professionals is the certified business manager (CBM) designation. This certification is offered through various institutions with specialized accreditation, as well as some MBA programs. Those who obtain this optional certification are perceived as possessing elite operational management skills that can be applied to most work settings.

If you plan to start a business in Ohio, it is vital to familiarize yourself with the state’s business laws and regulations. While some company types may require more work than other, most standard businesses are relatively easy to establish. The first step is registering with the Ohio Secretary of State. All necessary forms are available online or the agency can be contacted by phone. New business owners will also need to obtain a federal Employer Identification Number (EIN) from the Internal Revenue Service and register with the Ohio Department of Taxation. Depending on the type and size of business created, it may also be necessary to open an associated bank account, report hired employees to the Ohio New Hire Reporting Center, obtain proper licenses and permits, and/or file annual reports of unclaimed funds. Additional requirements may also be set by the Ohio Bureau of Workers’ Compensation and the Ohio Department of Job and Family Services.

Careers for Business Management Graduates

Once you have earned a business management degree, you will be qualified to apply for a wide variety of professional employment opportunities in Ohio. While job requirements and salaries will vary throughout the state, some common careers available to graduates include the following.

  • Administrative Assistant
    Administrative assistants are responsible for providing other professionals in their workplace with administrative assistance. This often means that they perform a wide variety of tasks including running errands, coordinating schedules, managing messages, and completing personal requests. These professionals also frequently help with 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 $40,150 per year.
  • Customer Service Associate
    Customer service associates are responsible for providing support to customers, often by answering questions and assisting with issues. They most frequently help to troubleshoot technical difficulties over the phone. In some cases, however, these professionals may meet with customers in person. According to PayScale, customer service associates make an average base hourly rate of $12.08, or approximately $42,150 per year.
  • Director of Operations
    Directors of operations are responsible for managing the productivity of their workplace. These professionals make sure employees have all of the necessary tools and resources to keep up production and meet deadlines. To this end, they often submit purchase orders and coordinate deliveries. Directors of operations also tend to spend a lot of time performing negotiations with vendors. According to PayScale, directors of operations make an average base salary of $93,000 per year.
  • Financial Analyst
    Financial analysts are responsible for studying and reporting on marketplace trends, demographics, and microeconomic factors that could impact the companies they work for. These professionals maintain a thorough understanding of current investments, providing financial projections for growth and decline over time as the market shifts. They are frequently called on to offer advice about company bonds and the potential outcomes of splitting stocks. According to PayScale, financial analysts make an average base salary of $61,950 per year.

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  • Human Resources Manager
    Human resources managers are responsible for overseeing employee policies, procedures, and compliance regulations. They ensure all employment activities follow local, state, and federal laws. These professionals also often manage various employee benefits and initiative programs. According to PayScale, human resources managers make an average base salary of $68,750 per year.
  • Marketing Manager
    Marketing managers are responsible for designing advertising and/or sales campaigns for single products, whole brands, or entire companies. This often entails collaborating closely with product managers to monitor program performance. These professionals may also develop market research studies before and after campaign rollouts. According to PayScale, marketing managers make an average base salary of $66,600 per year.
  • Project Manager
    Project managers are responsible for overseeing assigned projects. This often entails managing resources and ensuring timelines are met accordingly. They also spend a lot of time dispensing important information to team members involved in the process, coordinating, documenting, and assigning tasks as needed. According to PayScale, project managers make an average base salary of $75,000 per year.

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