Going back a couple of centuries, business management merely meant having a keen sense of business which included keeping accounts, employing workers, basically having the main motive of earning a profit.
The Industrial Revolution in Europe changed the map of business all over the world as various industries came forward to share the space with agriculture which had been the mainstay till now. And this was definitely not just confined to the west alone. Later, America, too, got more and more industrialised and handling a business became more complicated than just keeping accounts, though the profit motive remained primary and constant.
The art of business management grew to be more detailed, giving rise to specialised tasks and consequently a need for people who were well versed and well trained in performing those tasks. These are intricate factors that have led to the growth of business management over the last few decades, as business management has become a promising sector.
Times have changed. And now proper skills and degrees are required to successfully pull off a business. So starting with America, professional business management courses have come up which equip students with the tools necessary to run or in general be involved in the sector.
What is Business Management?
Undergraduate and post-graduate courses are offered in business management all over the world. BBM (Bachelors in Business Management) courses are usually of the duration of three years. They are similar to BBA (Bachelors in Business Administration) but with more focus on leadership skills needed for use in the corporate world. The curriculum of both focuses on topics such as:
- Business law
- Economics
- Entrepreneurship
- Ethics
- Finance
- Human resource management
- Marketing
- Operations management
- Organization
- Strategy
- Supply-demand management
- Computer application for business
- International business
- Management training and development
- Eco friendly business, etc.
These courses provide the student a broad overview as well as in depth knowledge about how a company and its related interconnections function; they also develop the business communication skills of the students, their managerial skills and their decision-making capabilities. Project works and internships are also a part of the curriculum so that students can have hands on experience and exercise their training in a preliminary way before taking the big step into the corporate world.
MBA and More
MBA (Masters in Business Administration) is a more specialised and professional course of business management. Students come not only from management course backgrounds but also from other courses. There are various forms of MBA spanning over various durations, ranging from one to three years. Part time and distance learning MBA courses as well as MBA courses for executives who have a lot more work experience are offered.
In India, only universities registered under and following the curriculum of AICTE or UGC can grant an MBA. IIMs (Indian Institutes of Management) spread across different regions in India are one of the world’s most selective schools for MBA; but they only grant a diploma. In India, they are the most sought after institutes for studying business management professionally.
How to Take the Big Step into the World of Business Management?
BBA courses can be joined after the finishing high school education. The requirement for application varies from institution to institution. The overall percentage of school final matters, but it helps to have mathematics, economics and other commerce subjects during the +2 curriculum. Some colleges may have entrance examinations to test preliminary knowledge.
For application in MBA courses, GMAT (General Management Admission Test) and GRE (Graduate Record Examination) need to be taken. Good enough scores may also bring educational scholarship offers which again vary according to institutions. Within the country there are numerous entrance tests for MBA, for separate institutions and also at the national level, CAT, for example.
The careers that can be pursued after completing business
- management courses are:
- Business Analyst or Strategist
- Business Development Analyst, Associate, or Manager
- Director (of a department)
- Entrepreneur / Founder
- Financial Analyst
- Management Consultant
- Marketing Associate, Analyst, or Manager
- Portfolio Manager
- Project, Product, or Program Manager
- Operations Analyst, Associate, or Manager
Of course having an MBA helps, because then the opportunity opens up for more specialised and higher paid jobs.
Why Go for Business Management?
Although the corporate world may seem quite intimidating from afar and it’s not entirely incorrect, the demand for specialised and trained professionals is nevertheless increasing with more and more business ventures. In fact, business is becoming one of the most preferred and lucrative careers for Gen-Y.
Trained human resource, too, is scarce, and outsourcing is one of the most promising aspects in case of both corporate and IT sectors. Even companies which are not core corporate companies, have market and development companies which need trained business management professionals. So even though there’s a fierce competition, the possibilities are also endless. More and more youngsters are going for business management. So why wait?
