The short answer—yes! But you may want more detail before you choose a business management degree. Just like any program, business management programs are a great choice for the right person. Could that person be you?
Ask yourself the following six questions to find out if a business management degree program is the next step you've been looking for.
1. What are my career goals?
The vast differences in business administration professional roles mean that there are also huge differences in salary potential, remote vs. hybrid vs. in-person positions, and geographic opportunity. Even researching labor statistics for careers will be difficult until you have a few ideas about what you'd want for a future role.
If you start narrowing down your career goals by local opportunity, your desired salary and your preferred work arrangements (like in-person or hybrid), it's easier to hone in on a business management career focus that will work for you.
You can use research resources like faculty, online reading and trusted advisors or mentors to determine this alignment. You might even want to do a job search in your area for employers/organizations of interest to see if they have career opportunities for business management degree holders.
You might even find other career options that you never considered.
The necessity of a career plan is more critical in fields like business management and administration that have so many different applications. Any industry is a possibility for graduates from business management degree programs. But on the other hand, you must do research to aim at your desired roles once you finish your degree.
2. Do I have a plan for possible specialization?
There are many ways you can prepare yourself for employability in your desired field and industry once you complete your business management degree. These include prior or existing experience.
For example, if you work in retail, you might be looking for a business administration degree because you want to move up into a management position.
If you want to work in project management or as a human resources manager, courses that include learning SLACK® and how to use Gantt charts and excel spreadsheets will all be important skills for that field.
If you want to work in healthcare administration, choosing a program or business management courses that focus on healthcare would be a good move.
Internships are another way to gain practical experience that will help you obtain a role in a specific area once you obtain your degree. Interning at a hospital along with the degree will help you break the barrier into that field.
3. Am I comfortable with data analysis and technology?
These two areas were once specialties in the business world, but now they are critical for almost every role.
More often, business managers are trying to make data-driven decisions. Therefore, you must be able to understand dashboards, concepts like Key Performance Indicators (KPIs), and the technology that is needed to collect data, organize data, and make the data meaningful or useable.
Technology capability doesn’t end there. Organizations use technology for various purposes such as customer engagement, project or product management, and communication. The technology available to organizations is rapidly advancing and changing with innovations like artificial intelligence (AI).
As a business manager, leader or administrator, you don't need to know every technology out there, but you will need the aptitude to jump into new technology and learn it.
4. Do I prefer a general/versatile or specified/focused?
Business management degrees require some forethought, initiative and directed action that more specialized career tracks don't. The payoff for that is lots of versatility and options after graduation. But it will take effort on your part to ensure career-interest alignment, career satisfaction, and opportunity for career growth.
While there is a lot of security with this degree because it is so universally applicable, that doesn’t mean every potential career will be one that is of interest to you.
Other field offer more clearly-defined career steps, at least initially. You graduate, pass a licensing exam, then look for that exact job title. But with business management, you might work in healthcare, you might work in construction, you might work in the airline industry or automobile industry or really any industry.
If you lack a plan for how to choose your career direction, these options can be overwhelming. But if you have a plan, you can intentionally gain experience in specific technical or industry-specific areas and take classes that will help.
5. Am I adaptable and good with people?
There are some important strengths you need to thrive in this field.
Adaptability
The field of business administration and management is dynamic and changing faster than ever before.
Leadership skills
Leading change is also important since organizational structures, reporting lines and strategies are also constantly evolving.
Communication skills
The ability to communicate effectively (laterally, upward, and downward), display emotional intelligence and build relationships by establishing rapport is critical to meet goals and even to create a positive and engaging organizational culture.
Interpersonal skills
You must also be good with people. You will often be working with multiple stakeholders in most roles in business administration. This includes customers, partners, peers, direct reports, middle managers, and senior leaders.
If you don't like working with lots of people, this type of program might not be a good fit.
6. Am I interested in how organizations make money?
The number one reason a business exists is to make a profit.
Even organizations with the most grandiose corporate giving and social responsibility strategies cannot give to those causes without making a profit. They also can’t retain employees without making a profit. Not-for-profit organizations must also bring in revenue, and that is something individuals often don’t realize when they decide they want to work in that field.
The only difference is really in how they spend. Non-profits give their profits to the causes aligned with their charter, and for-profits use those funds for a plethora of profit-driven reasons (e.g., stakeholder support or benefit, business expansion).
Essentially, you won't be able avoid the concepts of expenses, revenue and profits.
In any organization or even your own business, you’ll have to have a good grasp on these concepts and all the elements that contribute to success. The field of business administration requires individuals who are goal-driven and enjoy working towards organizational objectives and initiatives.
Get started by defining your career goals
My advice is to first research companies or organizations of interest in your desired geographic area. Look at organizations that have a good reputation for having a good culture and treating their employees well.
Some potential types of careers for a bachelor's degree in this field include project management, product management, administration/office management, logistics, marketing, human resources, or data analysis.
It can be challenging to look for specific jobs when you don’t know the names of those specific job titles in an industry. So continue your research at What Can You Do with a Business Management Degree? Understanding Your Options.
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