They employ us, provide services and products, and drive innovation.
Running one of these businesses can be a lucrative and enjoyable career – but it’s no easy task.
There are a wide variety of skills needed to be an effective manager.
These skills are learned in a variety of ways and may include a combination of education and experience.
Requirements needed to become a business manager vary widely. One company may require 10+ years of experience and a Master of Business Administration (MBA) while others may simply want you to be experienced in their particular field. It really depends on each unique position and business.
So what is business management and what is a business management course like?
Options for Knowledge
As someone interested in becoming a business manager, you’re likely curious about how you learn more about the business world.
Let’s review a few now:
Real World Experience
Remember, there are no specific requirements to enter the field of business management, other than those laid out by hiring companies. As we know, they can differ greatly from company to company. By starting at an entry-level position you can gain valuable experience and learn a great deal about management.
2 or 4-Year Business Management Degree
College isn’t for everyone, and you may very well be able to find a role as a business manager without formal education, but having a degree can certainly help. An associate or bachelor’s degree shows companies that you’re committed to learning about business management theory and that you’ve successfully navigated multiple courses.
Personal Betterment/Online Courses
If you’re interested in learning business management theory and don’t have the time or resources to attend a 2- or 4-year school, taking online courses is an option.
An alternative you might want to consider is distance-learning self-improvement courses. Typically, these will be less expensive than traditional college courses and will be more flexible as well.
You can learn at your own pace and submit exams and evaluations when you’re ready. Online business management classes can provide you a great foundation of knowledge.
Overall Concepts
Ideally, a business management course can prepare you for a successful career as a business manager. You will learn several core business concepts throughout its duration.
As with most courses, you should expect to start small and string together various concepts and theories to gain a more robust understanding of the subject.
A good course in business management will usually touch on the following concepts:
- Accounting
- Theory
- Macroeconomics
- Business Law, and
- Marketing Principles
What Is a Business Management Course? What Does It Involve?
Business management is an incredibly diverse field, and your training will reflect that. If you choose to start with an online or distance-learning program, you need to be prepared to push yourself and study without real deadlines. It requires discipline – it’s crucial if you want to complete the course and improve your future.
By this point, you’re probably curious about the specific types of courses you’ll be taking. You’re asking yourself, what do you learn in business management?
The following are just a few of the core elements involved in taking a business management course. Even if you’re not going to be using every aspect of your training, it is a good idea to have a solid understanding of each concept.
Basics of Business Management
One of the most important courses you will take is learning the basics of business management.
This may include sessions about the following:
- Characteristics of business management,
- Overview of a typical business,
- Supervision,
- Leadership,
- Decision making,
- Business environment, and
- Time management skills.
Managing a business is a complicated endeavor. But getting a handle on these basic concepts will serve as a good foundation.
Entrepreneurship
If you plan on starting a business, you should take a course in entrepreneurship. You can understand what you need to have to start a business. You can also get an overview of the legal hurdles you will face.
Human Resource Management
The human resource department in a business is commonly called the HR department. Human resource management refers to the management of employees.
The duties of a human resource manager include the following:
- Recruiting new employees,
- Processing new employees,
- Handling employee disputes, and
- Training employees.
A human resource manager might also be in charge of employee salary disbursement. Knowing how this department operates will be handy even if you are not a human resource manager.
Organizational Structures in Business
Business organizational structure refers to how duties and responsibilities are divided to function effectively. Each employee knows their role within the business and how their role contributes to the business’s daily operations.
You may be familiar with the top-down approach in business. A lead executive oversees their business and divides up responsibilities to various managers, such as human resources, accounting, or operations. And each of those managers has employees under their supervision.
However, there are many other types of organizational structures in business.
In a business management course, you will learn about the different organizational structures and how they impact business operations. You will also understand the benefits of organizational structures.
Financial Accounting
Business is centered on money. Finances lie at the heart of all major business decisions. Even if you are not working in the finance sector, all companies use accounting.
You should learn the intricacies of accounting. This includes understanding accounting terminology, such as assets, liabilities, and inventory.
You should also learn about financial statements, such as balance sheets and cash flow statements.
Information Technology
It’s a digital world. You should take some courses in computers and technology. This doesn’t mean you have to be a computer whiz, but you should have a strong understanding of computers, especially software that businesses use.
You should also be aware of accounting software and project management software. These programs exist to aid businesses. So you should know how to use them.
Business Ethics
Business ethics are guidelines and policies that govern business decision-making and behavior. Important values you can learn about in business ethics include the following:
- Responsibility. Take responsibility for all your actions, including those that affect the business, community, and environment.
- Honesty. Be truthful in any business dealings. Don’t mislead or avoid disclosing important information for your business’s benefit.
- Fairness. All employees, colleagues, clients, investors, and other stakeholders should be treated fairly and equally.
- Legal compliance. You must follow your jurisdiction’s current laws and regulations regarding business practices.
An important aspect you’ll expand on is the difference between ethics and the law. They may not necessarily be the same. Even if something is legal, it may still be unethical.
Marketing
Businesses need a voice to get their brand out there. That’s where marketing comes in. You should learn about various advertising principles and strategies in a marketing course.
Essential concExplore Our Business Management Course at Stratford Career Instituteepts include the following:
- Understanding your market,
- How to target your market,
- Competitor analysis, and
- Market strategy formulation.
You will also use economic theories and statistics.
Macroeconomics and Microeconomics
Economics plays a significant role in business operations. You should have a basic understanding of economics. As a business manager, this knowledge will help you make business decisions and understand the consequences of those decisions.
Jobs in Business Management
Whether based on education, experience, or a little of both, this business management knowledge can open the doors to many different jobs, including the following fields:
- Healthcare,
- Sales,
- Administration,
- Finance,
- Accounting, and
- Human resources.
Explore Our Business Management Course at Stratford Career Institute
Get started toward your new career venture today with Stratford Career Institute!
Learn more about it by enrolling in Stratford Career Institute’s distance learning course on business management.
Stratford Career Institute is a correspondence school established over 30 years ago in 1991. Over one million students have enrolled in our courses.
Our online business management course can help jump-start your career and teach you the foundational knowledge to help you understand business operations, finance, and marketing.
Contact us for more information or enroll today to get started with your business management training!
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