If you’re looking for a rewarding, interesting career that gives you a lot of options, business management is a great choice. This is especially true if you are seeking a qualification that will help you find a secure, rewarding job in the future. In fact, eight of the top ten jobs held by business management graduates working in the UK are related to business. There are many career paths available in business management and there are a variety of ways you can go about managing your career.
Business management is the planning and coordination of the tasks required to run and manage a business efficiently. To lead a company, it takes skilled, qualified individuals to ensure the business is profitable and operating legally. Though a big responsibility, business management offers many different career options in many different sectors. Here’s what you need to know about the role to help you decide if it’s right for you.
What is business management?
Business management is a broad term that refers to the discipline of managing the operations of a business. While it’s difficult to give a precise definition, it generally entails coordinating and organising general or specific business activities to help an organisation thrive. It’s not uncommon for a business manager to have several direct reports who manage specific areas of the business.
Someone working in business management can oversee activities ranging from strategic and financial planning to production, resource management, and marketing. They can also work in specific fields or areas of a business. For instance, one business management professional might work in manufacturing while another may be in charge of all finances. Regardless of title or focus area, everything a person in business management does has the objective of helping the business succeed. It should also be noted that in business management, a good manager strives not only to help the business, but also support the employees responsible for building it.
By studying business management you will learn what makes an organisation successful in a global business environment and gain the knowledge and skills required to work for businesses of all sizes – from multinational companies to start-ups.
There are many different job titles for management, and you can choose to specialise in your business management career to go after a certain type of job.
A Business Management professional is always in demand
Businesses are a vital part of any economy, which means the demand for individuals with business knowledge will always exist, so there will always be a level of job security. A business qualification offers loads of career choices. From the sciences to the arts to commerce, every industry requires managerial and business expertise. This means you don’t have to limit yourself in what type of work you want to do. A business qualification can also mean you have the tools needed to start and manage your own company, so you can even be your own boss.
Business management careers are never short on opportunity. They typically include some of the top-paying careers that offer promotions and potential to grow. However, they do not come without their fair share of challenges. Generally speaking, business management can be a challenging career because there is so much to learn and so many areas to manage. On the other hand, with so many options to choose from, there is always a position out there for you.
It is an attractive career choice because of the different types of tasks that need to be completed on a daily basis. Management positions are also highly in demand because they allow individuals to work autonomously, which can be very rewarding. With the desire for a lot of people to continue to work remotely, business qualifications offer a large number of roles that can facilitate remote work.
What Industries Can You Work in With a Business Management Degree?
Business management qualified professionals are essential for the successful operation of every business across all sectors. After successful completion of a business management qualification, you will have gained the skills to become job ready within a large number of employer’s teams.
Some popular industries for business management include:
- Healthcare operations
- Private companies
Want to make a bigger impact in your career?
Industries as diverse as chemicals, utilities, fashion, health, grocery and construction all require functional managers with a clear understanding of systems, efficiency and operational issues. Opportunities exist in management and analysis roles with employers in the private, public and voluntary sectors.
Graduate training schemes offered by large employers frequently focus on commercial roles. Many give experience in several departments but others encourage specialisation from the outset.
What do business management graduates do?
Eight of the top ten jobs held by business management graduates working in the UK are related to business. These areas include sales, marketing and related associate professionals, finance professionals, business, research and administrative professionals, HR, training and other vocational associate guidance professionals, business associate professionals and admin. Let’s look at some roles for business management graduates in a little more detail.
A business management qualification can help prepare you for a career in sales. People who work in sales work directly with clients to sell them services or products, and then often manage that relationship to help meet their needs. Millions of companies have sales representatives that focus on getting their product or service out there. Some sales representatives directly sell a product, like cars or furniture. Other sales representatives sell software programs or consultation services. And other sales representatives may sell more abstract services like ad space on a website or sponsorship opportunities.
Sales representatives utilise their business management qualification to understand finance, marketing, and business strategy. This qualification and what they learn in their courses helps them make connections and talk expertly about their product, how their business is performing, and more.
A business operations manager is responsible for all the individual tasks of how an organisation runs. An operations manager will look at all the systems and processes and help evaluate the best way to do them. They will continuously look for better and faster ways of doing things and work with their teams to come up with efficient solutions. For example, in a manufacturing company the operations manager will look at the schedule for workers, the process for creating products, the organisation system for storage and delivery, and help ensure that all of these processes run smoothly. They may help research and introduce a new scheduling system for workers and organise the best way for all the work to get done efficiently.
There are many careers within banking that can be a good fit for business management graduates. Investment banking, personal banking, wealth management, and even bank management are all great paths for those with a business management qualification. Bankers can work for large investment firms or for personal banks that businesses and individuals use. Personal bankers work with clients on their investments, financial needs, mortgage and auto loans, and more. Conversely, commercial bankers are in charge of helping businesses set up their accounts, get loans, manage their funds, and more. Investment bankers help large companies raise capital and follow regulations with their money. They look at the best ways to invest and help organisations do so in a financially sound way, for a fee. All of these kinds of banking career paths are available if you have a qualification in business management.
Some graduates choose to undertake further study in subjects such as marketing, finance, human resources, computing and international business management, in order to develop their expertise in a particular area of business.
Those combining study with a job often work towards a professional qualification, and this is usually supported by employers. Professional qualifications popular with business studies graduates are provided by organisations such as the:
- Association of Chartered Certified Accountants (ACCA)
- Chartered Institute of Management Accountants (CIMA)
- Marketing Institute of Ireland (MII)
- Chartered Institute of Personnel and Development (CIPD)
- Chartered Management Institute (CMI)
- Institute of Certified Bookkeepers
- Institute of Corporate Governance
It is easy to see why people are so attracted to the business management field. Business managers control the success of a company or organisation. They have control over the company’s finances, sales, and marketing. Additionally, they are also able to keep a close eye on every decision that is made in order to make sure that it falls within their guidelines and will be successful. If you’re looking for a career path that offers better job security, flexibility, and opportunities in the field, consider taking on a business management role.
For the aspiring entrepreneurs and business leaders, a business management qualification is consistently a popular choice. It provides the academic knowledge and skills to pursue global career opportunities and helps you develop a broad understanding of businesses and specific areas such as finance and human resources.
When you graduate with a business management qualification, you graduate as a well-rounded student with a diverse knowledge of the business world.