For those who find the field of business interesting and want to pursue it after school, there may be some confusion about the type of business education they should look at. The branch of business education is ever-evolving; it teaches the skills and processes of the business industry. It is a vast field where you can hone your problem-solving skills, marketing techniques, management skills, and decision-making abilities.
Given the number of majors available, it might be slightly intimidating to pick one. There are various factors involved in choosing the right course: interests, skillsets, career scope, available opportunities, and so on. Here are five options within the spectrum of business education:
Business administration and business management
This course helps lay a foundation regarding important concepts in business. For example, it provides in-depth knowledge about accounting, sales, business ethics, organisational structures, leadership, management principles, etc. While business administration is preferred if you want to start an entry-level business career, business management is better if you aim to be in the management or operations divisions of a company.
Human Resources
A branch that exists in every company or organisation, it not only helps employees but also brings in the best people needed for the company’s growth. This field is all about people and hence communication and social skills should be quite good. The course will involve subjects like corporate communication practices, organisational development, management studies, among others.
E-commerce business management
With the advent of technology, managing business online has become essential. A good web page and social media presence will attract a lot of people, resulting in increased reach. This can, in turn, help sell goods or services faster and requires the skills to manage businesses on online platforms. The course revolves around the topics of marketing budgets, interaction with customers, and so on.
Economics
This field revolves around the system of manufacture, buying, and selling of goods or services. A student opting for an Economics major will have to study economic principles, business statistics, micro and macroeconomics, etc. It involves the use of Maths and Data Analysis. Economics is basically a social science that studies individuals, businesses, or countries to make choices on how to distribute resources. It helps analyse trends in the economy to improve businesses. Graduating with a major in economics can land you various jobs as an economist, a budget specialist, and more.
Finance
Finance is a field where money is everything. Here, the movement of money is carefully observed and recorded. As it is a job that handles money, the branch of finance involves investing, saving, borrowing... This course has the ability to land you in managerial positions at companies, or as a financial analyst/advisor.
The writer is Director, Symbiosis Centre for Management Studies, Pune
