A few of these personalities include being dominant. An individual who encompasses this trait is hard-working, energetic, objective-focused, and straightforward. This businessperson is straight-to-the point when dealing with fellow employees and other business relationships. Another personality trait a businessperson would encompass is extroversion. Businesspeople that are highly extroverted make great marketing professionals because of their outgoing personality. These individuals know how to establish and maintain their business relationships due to their enthusiastic and optimistic approach to their business endeavors.
Along with personality, a businessperson must also encompass certain qualities, skills, and experience in the business field. The businessperson must understand that modern business is service-oriented rather than profit-oriented. Therefore, businesspeople must be conscious of their social responsibility and be certain that their customer’s satisfaction is their number one priority.
With the business field being so vast, there are numerous jobs available and an individual with a background in business can attain a position in various areas including upper management, human resources, legal, finance, marketing/sales, IT, and administration.
Business Degree Levels Available
Two-Year Associate of Arts Business Degree (AAB)
There are many colleges and technical schools which offer an associate’s degree in business. With an associate of arts business degree, a student will gain professional knowledge in the business field and will improve their credentials and authenticity of an entry-level position in this profession. However, this two-year degree is somewhat limited as far as opportunities and salary; a student with an associate’s degree who would like to advance to a higher position in the business field along with a higher salary, should continue onto the bachelor’s degree in business.
Four-Year Bachelor’s Degree in Business (BBA, BBus, BCom, BSBA, BAcc, BABA, BBS, BMOS, and BBusSc)
Numerous colleges and universities offer a four-year bachelor’s degree in business. This program will train students to be a leader and manager in a business environment. The business student will learn to inspire and communicate effectively when dealing with employees and potential, as well as existing, customers. Business finance, international business, quantitative analysis, marketing, and economics are areas all covered by this program. The importance of marketing and techniques to maximize business efforts are also studied.
Two-Year Master’s Degree in Business (MBA, MBM, MAcc, MMR, MSMR, MPA, MISM, MSM, MHA, MSF, MSc, MST, MMS, EMBA, and MCom)
A master’s degree in business is sought by those looking to further hone in on their skills to work in the business profession. MBA core courses include programs such as accounting, operations management, finance, human resources, management information systems, organizational management, macroeconomics, business statistics, marketing management, and computer information systems. Positions available to those with an MBA include marketing manager, management analyst, human resources specialist, financial manager, and IT manager.
Post Graduate Diploma (PGDM, PGDBM, and PGP) and Doctoral Degrees (Ph.D., DBA, DHA, DM, DCOM, FPM)
A postgraduate and/or doctoral education will always be of benefit to a business student, however, the student must be certain that continuing onto the postgraduate diploma or doctoral degree will further their future career plans. Courses at these levels are in very specialized areas. Students need to be certain that specific area, for instance supply chain management, is what they are passionate about and desire a profession in that discipline.
Admission Requirements
Although various colleges and universities may vary slightly, one can expect fairly standard admission requirements when applying to obtain a degree in management. Successful completion of high school or an academic equivalent (such as a GED) is required along with high school transcripts displaying grades obtained in various courses. SAT or ACT test scores are almost always required as well. If student fulfills these requirements then an application form from the college or university must be completed and submitted along with an application fee, which of course vary depending on the institution. Experience in the business field is always an asset and students will benefit if they can list some form of experience in their application form.
Tuition and Accreditation
An associate’s degree in business can cost between $10 000 and $40 000. A bachelor’s degree can cost between $20 000 to $100 000. An MBA can cost anywhere between $60 000 to $100 000 or more in tuition and fees. A postgraduate diploma as well as a doctoral degree in business can cost between $45 000 to $60 000 annually for two years.
Colleges and universities which offer an associate’s degree, a bachelor’s degree, master’s degree, postgraduate diploma, or the doctoral degree must hold AACSB (Association to Advance Collegiate Schools of Business) Accreditation. Most employers only hire students who graduated from an AACSB-accredited institution.
Annual Salary for Different Occupations in Business
A business graduate’s salary is based on various factors which include (but are not limited to) their level of education, level of experience, and their field of specialization. Earnings may vary drastically from person to person. However, here are a few of the median annual earnings for the most common professions in the business field:
· Accounting - $64,000
· Economics - $70,000
· Finance - $100,000
· Human Resources Management- $66,000
· International Business - $100,000
· Management (CEO- Non-Profit) - $80,000
· Management (CEO- Public) - $400,000
· Management Information Systems - $86,000
· Marketing - $75,000
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