During the early 2000s, the trend of people coming from business families yet taking up jobs was rising fast. The entire decade 2000 onwards was filled with people from similar mindsets. They probably wanted to do something on their own and didn’t want to rely on their family business. However, as the economy came crashing down and the blanked of recession engulfed the entire world, graduates realized that getting a job was very tough.

Today, one cannot rely on jobs. This has led to people taking up business degrees like Bachelor of Business Administration, Bachelor of Management Studies, and Bachelor of Business Management among various others. These degrees prepare students for managing successful business ventures or starting up their own firm. That’s why the concept of startup firms has gained a significant boost over the past couple of years too.

It is one of the wisest decisions to enroll for Bachelors in Business degree because nowhere else will you experience the kind of learning that such a degree teaches. Be it someone who comes from a business background and wants to expand the family trade, or someone who doesn’t have a background but wishes to start something, business degrees are beneficial for one and all. We will list down some key skills that only business oriented degrees can teach you –

1.       How to market your business: Marketing a business has become one of the most necessary concerns if you want to build a successful venture. Without informing people about you, and then convincing them to do business with your firm, your business cannot thrive.

2.       Crisis management: Today’s business practices believe that managing crisis is a mixture of art and logic, and with a careful approach, they can be easily solved. No crisis is so big so as to remain unsolved. Business degrees teach about the most famous crisis scenarios across the biggest firms in the world.

3.       Employee retention: Employees are your assets. Unless you motivate them, they will not perform to their full potential. Different employee motivation tactics are taught to the students so that their employees remain faithful to their firms.

Management is one of the hottest courses in the country. It has even captured the international imagination. Management professionals have become quite significant to an organization. It is because some of the management professionals have gone on to become the topmost professionals in an organization. Sometimes, they can even override the decisions made by the founders of the company. You are now aware of the significance of a management professional.

India was one of the countries which were starving for management programmes in the initial period. Then, of institutes mushroomed up, and the scene became competitive. Most of the programmes were not at par with the international standards. Everybody wanted a management degree and placement, but nobody was interested in the quality.

What is the present situation?

Now the scene has changed. Students are more vigilant. They freely question the institute’s registration and they keep a sharp lookout at the courses being offered by various management institutions. They research for courses that have value on the international scene.

·         The affiliation of the institutes is the first priority.
·         The courses being offered comes second on the priority list
·         The placement opportunities come third

These are the criterion for choosing the management courses. But some courses are so hot and can help in getting a good career. Two of them are:

·         Bsc in Management
·         Business Economics Degree

But is that enough? You need to know what they teach in Bsc in Business Management, and what a Business Economics Degree is all about.

What do you need to know?

For Management and Economics, you need to have a mathematical aptitude. It is very crucial that you understand some of the key topics in mathematics; otherwise you will face a lot of difficulties in inferring data. Then you need to learn Accounting, both financial and management accounting. Law, tax and economics too form a part of the core programme. Strategisation, Management and Entrepreneurship are introduced in the latter part of the course.

There are some courses which accentuate the necessary soft skills of the students, so that they are industry ready.

There are times when you see students finishing High School or Pre University to get a step nearer to build a career. You can see a lot of enthusiastic and worried faces. Students are worried about their college admissions and future prospects. When students enter the professional life, they need to have the best qualifications. This will help them to get established without much friction during a placement. A photo finish would be getting an instant placement out of college with a considerable package.

Difference between Business Administration and Business Management

·         A Diploma in Management can help you make it to a manager’s job. There are various kinds of managers these days. IT companies, banking companies, Software Companies, and Legal companies have different names for people holding these titles. These titles can confuse you, but it is because of the different roles in different organizations. Now, you even have project managers who help you in singular projects.

·         A Bsc in Business Administration is can help you lead and show the way to an organization. Administrators with a sound knowledge on the subject can help to put an organization on the right track. It will help you get one of the leading positions in any company. But it is most often the riskiest one also. You could simply be asked to leave an organization for not delivering the required results. You have to control people and also maintain supervision of the company’s performance internally and in the market.

What should you choose?

You should choose the courses according to your career choice. If you want a dynamic job, then you should certainly choose a diploma in Management. If you want to lead an organization and feel that you have the qualities in you to lead an organization, then you should select BSc in Business Administration.

There’s been a real expansion in the field of education since the past decade. Earlier, choice of courses was limited. A person either took up engineering, MBBS, B.Com, or BA. But the industry soon understood that graduates holding such general degrees are not well equipped to perform specialized tasks, and that’s when professional degrees came into picture. Professional degrees like mass media, business management, actuarial science, hotel management, environmental sciences, event management, interior designing etc. have come up that prepare students specifically for a career in their concerned field.

Similarly, a business management degree is well rewarded, since it gives you specialized knowledge with respect to business, which you wouldn’t get by studying any general commerce course. Business management courses teach you about the following:

·         Strategizing: Business management courses usually start off with something known as strategizing. It teaches the students how to create business strategies. This module is vital, and lays down the foundation for those who aspire to be entrepreneurs.

·         Marketing and management: While starting out a business, you need to be ready with the marketing plan as well. Today, firms spend almost 50% of their budget on advertising and marketing, since this is what gets them a bulk of their clients. Marketing is all about promoting your brand in an exceptionally interesting manner with the use of innumerable marketing channels present today.

·         Organizational behavior:  During the earlier days, firms were mostly family managed businesses and they treated employees as liabilities. Today’s businessmen have realized that a firm is nothing without its employees, and therefore they are assets! Organizational behavior teaches future entrepreneurs how to handle their employees, improve employee satisfaction rate by constant motivational and morale boosting activities, and thus reduce attrition rate.

·         Economics and present issues: A businessman needs to be well aware about factors that can affect his/her business. Constantly changing laws and economic policies can make or break a business, and therefore one needs to know what’s happening with respect to present issues such as government legislations, economic policies, laws etc. Accordingly, one can change their business practices and seek more benefits.

·         Corporate Social Responsibility: A pretty new module, corporate social responsibility is all about giving back to the society. Do you remember watching ads with a social message, but promoted by a brand? All these ad campaigns are nothing but CSR. CSR aims to improve the image of the company in the minds of the audience by making them feel favorable about the practices of the company.

For those who’ve just passed 12th, diploma in management is an option to consider. For those who have successfully completed their bachelor’s, they can opt for masters in management.

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