What are Business Studies?
Have you ever dreamed of having your own billion-dollar business like Instagram, Coca-Cola, Samsung, etc.? If you want to start your own business then you need to know about the various aspects of how to run a business. Business studies offer a framework and understanding of different elements of business and provide a roadmap of how successful organizations work.
Business studies can be summarized in a sentence as management of employees to maintain efficiency and productivity of a business to generate profit. International study subjects taught in business schools include but are not limited to accounting, finance, marketing, and human resource, and supply chain, etc.
Why Study A Business Degree?
Business and related subjects are the most popular and widely studied courses globally. Students opt for such courses as the skill set of a business graduate can be utilized in any field. Employers prefer a degree in business for their employees as they can easily adapt to the working environment. Furthermore, if you an engineering or law background, you can still pursue some postgraduate business degrees such as a master’s in business administration to enhance your managerial skills. Having an MBA degree is rewarding irrespective of your previous education as it will help you in career growth. There are many reasons why you should choose a business degree abroad, a few of which are listed below:
- Communication Skills: Business graduates have excellent communication skills, written and spoken. They are taught to prepare reports, summaries, and presentations on diverse topics. They are presented with case studies of multinational companies and engaged in conversations to comment on the organization’s shortcomings. All such practices greatly enhance the communication skills of business students.
- Entrepreneurship: After completing your graduation you do not necessarily need to look for job opportunities as a business degree will equip you with the skills and tools required to start your own business. Most individuals choose a business degree because they are interested in launching a business of their own.
- Transferable Skills: Not every degree offers the luxury to switch between jobs or careers. A degree in business management allows you to easily leave your current job for a better opportunity.
- High Salaries: Business graduates are one the highest-paid graduates around the world, with average annual earnings of $55,000. It is very beneficial for students who pursue their education by taking loans from an organization, as they will be able to pay in a few years after graduation.
- Multi-Discipline: A business degree abroad teaches a vast variety of courses so the students can know about each discipline of the business environment. Also, if you are not sure which major subject to choose in your final year, you will study various academic subjects and have a clear understanding of which sub-discipline to choose in your final year.
- Balance Practice and Theory: Most professions focus a lot on theory and little on practice. Perhaps it is not easy to apply theory directly with some educational fields. If you get bored easily by reading theory, then choosing a business degree would be the right decision as it keeps a balance between practice and theory.
Business Degree Types
Like almost every other field, there are various business degree types. If you want to study business degrees abroad from the top business degree universities, you will have the option to choose from a wide range of subjects. It will complete your business study goals as every subject will polish your business skills.
There are many specializations available for bachelor’s and masters’ programs, but it is not possible to cover all of them in detail. Hence, we will go through some major specialization options.
- Finance: If you have been interested in numbers or math in your high school education, then a finance major would be a wise decision. You will study subjects such as strategic finance, financial accounting, and financial management, etc. and it will equip you in running all the financial aspects of any business.
- Marketing: Marketing is an important aspect of any business. No matter how good your product/service, if you do not know how to market your product/service, your business will not succeed. Specialization in the market will put focus on how to capture the market for your product/service in a competitive market.
- Human Resource: Right man for the right job is an important aspect of a profitable business. Successful organizations focus greatly on their employee’s hiring, training, and development. A major in human resource builds you skills on how to effectively improve human resources in an organization.
- Supply Chain: Supply chain involves all the processes from raw material extraction to finished product delivery to the customer. Managing all the processes involved to increase efficiency and minimize cost for the organization is supply chain management.
Whether you are a student aspiring to study business internationally or are just broadening your knowledge, studying business abroad can be a great opportunity as you will learn different cultures and business practices. Initially, you will study general subjects and get to understand the key elements of a business. Afterward, you will be given the option to choose between various electives as your major specialization subjects. Taking classes in an international university can be exciting as well as challenging, as it will provide you a professional environment to practice your major subjects.
Job Opportunities for Business Graduates
There are numerous opportunities for business graduates as it is a key area of employment irrespective of your degree major. If you have completed your business degree abroad, it will greatly increase your employment chances. A survey of the top business degree universities showed that over 90 % of their business graduates are employed, started further education, or have opened their own business within six months of graduation.
If you want to study business degree abroad and are confused between the various business degree types, visit any FES Higher Education Consultants office today for complete guidance regarding a business degree.