The field of business management has flourished immensely, especially with the boost that has been given up to organizational structuring. Every business organization today, requires a proper structuring so as to ensure that their workings are proceeded in a smooth manner. With competitors increasing in the market world, these business management sectors are the sole entity to devise or modify, so as to maintain a position. The workings of business management, looks out at different sectors of an organization.
It is, in a way, the roadmap of leading the various segments that culminate to make up the organization. The need for business management has certainly evolved as a field of investigation and studies. Currently, business management stands have become the skills that are required. As a result, it has also entered the academic domain. Those who acquire these relevant skills are said to acquire the business management degree.
Today, there are various prestigious universities that are offering courses under the umbrella of business management degrees. This degree, determines the proficiency of an individual in carrying out the theories of business management practically. Before knowing the universities that provide business management courses, it is important to start from the roots. In this article, there will be an elucidation of what business management is. Further, there will be an explanation of what a business management degree is. Lastly, there will be a complete list of universities that provide business management degree courses.
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What Is Business Management?
In a very basic sense, the meaning of business management is to organize, coordinate and maintain the business activities. These activities of business are of varied sectors, which culminate in the end to progress the organization one step ahead. These business management activities will basically include procurement of resources, managing resources, capital control and innovation. (1) The business management sector looks after how and from where the resources of the enterprise would come. For this, it has to run through an extensive survey, and target areas that can become its potential suppliers for a long term. Here, the task of the business management team is also to negotiate the pricing for the resources.
A business management sector also deals with financial funds and holdings. It has a team that is entirely dedicated to manage the accounts, and the capital of the enterprise. This is also where the business management sector decides on the areas it would spend the money, and in what percentage. If it is a physical enterprise that is more inclined towards production, the business management sector will also look towards purchasing machines. Further, the business management sector is one of the integral parts for any business company to strive and implement innovation.
Business management domain is also extensively involved in taking major decisions for the company. This is because it manages various sectors of the company altogether. As understood earlier, business management looks after the finance, operation and production of the company. Therefore, it is also essential in taking decisions that are aimed at progressing the company.
A business management sector has a head, who looks out as well as calls for the relevant meetings to combat various organizational issues. This sector is more inclined towards framing the various aspects, regarding how the organization would work. The importance of business management is important for any sector, because it helps in aligning every task efficiently.
This sector looks after productive working of the organization. When the resources and working map is already set by business management, it becomes easier for the business organization to excel. Further, this domain hires staff which would contribute towards the company goals. It also hires those human resources officers, who have the capability of training the employees as per the company’s goals. Business management is also essential for streamlining the main channels of revenue for the company. It surveys and analyzes the main channels from where the revenue for the organization is coming. It then plans the relevant strategies that can be applied, for each of the contributing channels.
Lastly, the field of business management has inculcated various other management sectors. It has also pioneered for the various management sectors that could be viewed as independent domains too. This field has given rise to the risk management domain, financial management domain, and many more. To conclude, the workings of business management work as the pathway for any business oriented organization to evolve, modify and steep high.
This field has also emerged as a separate domain of study in the higher educational sector. It is commonly known as the business management degree. The meaning of a business management degree is elaborated in the next section.
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What is a Business Management Degree
A business management degree is an academic degree which is prevalent in various sectors or organizations that are into business ventures. Business management degree facilitates and expands one’s knowledge about the various business organizations. It further helps in aligning after understanding the objectives of these business organizations.
Business management degree provides a subjective as well as theoretical knowledge on business management. It familairses the individual to the technical terms and how they must be understood in a practical setting. Further, the business management degree also has extracurricular activities that provide a practical understanding of the concepts. Business management degree also has various clubs, and memberships, that further help unknowing how everything works out.
Business management degree also opens various prospects or job opportunities. These job opportunities spread out to various domains in a business organization. The job prospects inclusive and provided from business management degree are:
- Business analyst
- Human Resource Officer(in business domain)
- System Analyst
- Account Management
- Solution Officer
- Supply Chain Manager
- Logistics and Distribution Officer
- Marketing Executive
- Project Devising Manager
These are some of the job opportunities that one can opt for after completing the business management degree. The degree also familiarizes the individuals to the various business functions. This would include the risk management process, problem navigation, revenue channels, technical assistance and others.
Currently, the business management degree has received a positive acceptance. This is because most of the companies require skilled as well as experienced staff to lead the organization and plan its framework. The advancement of business management degree has provided an opportunity for the young minds to develop a better knowledge on leading the business organizations.
There are various universities that have offered highly maintained business management degrees. These universities are discussed in detail in the next section.
Top 10 Universities for Business Management
There are various universities that have been offering degree courses in business management. However, there are some of the top universities for business management that the aspirants should try for. These top 10 universities for business management are:
University of Pennsylvania- Philadelphia, United States
Established in 1740, University of Pennsylvania is one of the prominent private institutions that has been providing the various courses across business management. The university has a Bachelor’s degree in business management which is named Business Management and Administration. The course attempts to provide both theoretical and practical understanding of business management.
London School of Economics and Political Science- England, United Kingdom
A prominent institution that has given famous names, the London School of Economics is best for studying business management. The Department of Management at this institution is ranked 2nd all over the world, as per the 2021 QS World University Rankings. The course of business management in this institution is sure to awaken your interest in knowing the internal side of running, operating and curating a business organization.
Harvard University- Cambridge, United States
Harvard University has been recognised for decades for its quality education that roles the individual perfectly for the further. Its course for business management includes various key areas of understanding. These areas include accounting, marketing, strategy making, technological understanding and operations management.
INSEAD- Fontainebleau, France
Regarded as a top business school around the world, ISEAD has its branch in Europe, Singapore and the Middle-Eastern countries. The courses available here, integrate with various research plans, that provide a wider exposure to the students. Every year, the university has people from around the world who are taking up the courses of business management.
University of Oxford- England, United Kingdom
One of the oldest universities in the world, the University of Oxford offers a very integrated course of business management. The business management courses are provided through the university’s branch of Economics and Management. The management courses of the University of Oxford, has been ranked one by the Guardian League in 2019. Another highlight of these business management courses are development of skills that are necessary for business execution.
Bocconi University- Milan, Italy
One of the top business schools in Italy, Bocconi University is widely regarded for its Bachelor’s courses in economics, business and management. The courses provided by the university are well crafted and based on student preferences. These courses also provide space for the students to not only learn, but also explore their strengths in specific aspects of business management.
National University of Singapore (NUS)- Singapore
One of the prominent universities for business management in Asia, the National University of Singapore (NUS) is widely recognised. The university offers various business management courses that range between 2 to 3 years of completion. The courses in this university for business management are also integrated with research plans. The university is ranked for its courses by various platforms such as The Financial Times.
New York University- New York, United States
New York University is considered to be the best institution that provides a holistic understanding of business management. Apart from providing the business management courses, NYU also includes understanding these from a social perspective. These courses also help the students to receive a global understanding of the business world.
Indian Institution of Management- India
One of the finest business management schools in India, the Indian Institute of Management has an integrated course that inculcates the business management aspect too. This institution provides a 5 year integrated course of MBA, which aims at developing a myriad understanding of the business world. This course is only imparted by IIM Rohtak and IIM Indore.
Yale University- Connecticut, United States
Yale University imparts business management courses through its Yale School of Management. It has its 2 years integrated MBA course, which aims at various managerial skills development. Apart from the business management, this course also stretches to account management, risk handling and other operational management.
These are the top 10 universities that offer degree courses for business management. These universities have ensured a holistic development of the students, so as to facilitate a better and progessive business world.
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Parting Note
In this article, there is a complete explanation to what business management is. In a very basic sense, the meaning of business management is to organize, coordinate and maintain the business activities. These activities of business are of varied sectors, which culminate in the end to progress the organization one step ahead. These business management activities will basically include procurement of resources, managing resources, capital control and innovation.
This article also further discusses what exactly a business management degree course is. A business management degree is an academic degree which is prevalent in various sectors or organizations that are into business ventures. Business management degree facilitates and expands one’s knowledge about the various business organizations.
Lastly, this article lists down the top 10 universities that have been offering degree courses for business management. These top 10 universities for business management are:
- University of Pennsylvania- Philadelphia, United States
- London School of Economics and Political Science- England, United Kingdom
- Harvard University- Cambridge, United States
- INSEAD- Fontainebleau, France
- University of Oxford- England, United Kingdom
- Bocconi University- Milan, Italy
- National University of Singapore (NUS)- Singapore
- New York University- New York, United States
- Indian Institution of Management- India
- Yale University- Connecticut, United States
Commonly Asked FAQs
- What is business management?
In a very basic sense, the meaning of business management is to organize, coordinate and maintain the business activities. These activities of business are of varied sectors, which culminate in the end to progress the organization one step ahead.
- What is a business management degree?
A business management degree is an academic degree which is prevalent in various sectors or organizations that are into business ventures. Business management degree facilitates and expands one’s knowledge about the various business organizations.
- What are some of the best universities for business management?
Some of the best universities for business management are:
- University of Pennsylvania- Philadelphia, United States
- London School of Economics and Political Science- England, United Kingdom
- Harvard University- Cambridge, United States
- INSEAD- Fontainebleau, France
- University of Oxford- England, United Kingdom
- Bocconi University- Milan, Italy
- What are the job opportunities after studying business management?
The job opportunities after studying business management are:
- Business analyst
- Human Resource Officer(in business domain)
- System Analyst
- Account Management
- Solution Officer
- Supply Chain Manager
- Logistics and Distribution Officer
- Marketing Executive
- Project Devising Manager
- Why is business management trending?
Business management is trending because organizations require a proper framework so as to adapt to the new changes in the business world. Further, it is also essential in combating the risks and analyzing the progress of the business organization.
References
- Erasmus, B., Botha, T., Van Rensburg, M., Du Toit, G. S., & Motlatla, M. D. C. (2016). Introduction to business management. J. W. Strydom, & S. Rudansky-Kloppers (Eds.). Oxford University Press Southern Africa.
- QS World University Rankings by Subject 2022: Business & Management Studies
- Business and Management
- Degrees
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