What To Know About Studying Business

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Contrary to popular belief, business degrees aren’t limited to a single field. Whne you opt for a business degree, you have the opportunity to specialise in several key areas such as accounting, finance, management or even entrepreneurship. Such is the multidisciplinary nature of business!

Looking to zero in on a particular business field? You may want to consider a joint honours programme that offers a combination of the areas you’re interested in, e.g. Business & Economics. Joint degrees also place you at an advantage as you gain both general and specialised business skills. Read on to learn how you can make the most of a business degree.

What can you expect to learn?

Your bachelor’s degree will equip you with a basic understanding of marketing techniques, organisational concepts and issues, contracts and negotiations, and accounting concepts that drive business decisions.

Among the subjects that you will learn include financial and managerial accounting; project management; strategic business planning; corporate finance, and business management concepts- to name a few.

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Do You Have What It Takes?

The key concern of every business is its bottom line- or, to be precise, improving it! There are certain skills that you will need to have to get a business on the right track towards growth, but don't worry if :

a) You don't have them
b) You have them, but they're in need of... polishing.

You're guaranteed to pick them up over the course of your study! Some key skills you will need (and will learn) include:

Multi-tasking: When you enter the working world, there will be times where you will need to manage multiple projects at a time. This makes the ability to multitask and set priorities – without compromising on productivity – one of utmost importance.

  • Decision-Making: Being a manager means having to lead, which typically involves making decisions, in particuar, ones that benefit the business. Think the ability to analyse a particular situation rationally and to evaluate available information to sift out unnecessary detail, before deciding on the best possible action to take.
  • Leadership: Leadership can make or break a business- and the best managers know how to get the most out of their employees while ensuring their professional and personal growth in the process. Great leaders lead by example and respect others, both of which are positive traits that inspire employees to give their best.
  • Motivation: Part of being a good manager involves being able to motivate your team to perform at optimum level. To do this, you will need to nurture their professional development, establish clear performance expectations and set achievable goals to maintain their focus on growth and success.
  • Business Acumen: There is no success without a proper strategy. As a manager, you will be expected to spot opportunities for improvement and growth where others can’t, and to capitalise on your business acumen to develop the right strategies to realise business success.
  • Good Communication: You may have some of the most brilliants ideas known to man and amazing strategies designed to bring your company to new heights- but if you can’t convey these ideas clearly and effectively, they aren't going to amount to much. Communication involves more than just speaking. Your body language, facial expressions and tone of voice all speak volumes about how effective a communicator you are, which is why you have to get them down pat!
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    What Comes After

    When people think of careers options with a business degree, what generally comes to mind would be management and leadership roles. While that may be true, there are other career pathways open to business graduates.

    Business careers cover a broad range of fields and industries, spanning to include:

    Accounting and Finance

    A general business degree usually covers the basics of accountancy and finance, but if you’re looking to pursue a career in accounting or finance, you should consider a specialised degree.

    Accounting or finance roles typically involve reviewing a company’s finances, advising management and staff on tax and expenditure matters, managing records and business transactions, overseeing mergers and acquisitions, and preventing financial fraud and negligence.

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    Management

    As a manager, your main priority at work will be to bring structure to an organisation and to develop effective business strategies. You will also need to manage subordinate staff, which tests your leadership capabilities.

    Performing well almost always guarantees promotion opportunities - but there will be instances where experience and additional qualifications can give you a leg up in career progression.

    You also have the option of venturing into business consultancy. In this role, you're job will be to advise other companies on how they can optimise available resources to develop their businesses.

    Marketing and Advertising

    In this field, business graduates are in a prime position to contribute through their ability to analyse patterns in marketing and effectively communicate their findings.

    If you venture into this field, some of the tasks you’ll be handling will involve conducting market research, developing marketing strategies, managing client relationships, liaising with design, editorial and production staff, analysing markets and evaluating campaign results.

    This is a field where collaboration is key, so you will most probably be working with designers, video producers and copywriters, and be required to continuously learn new skills to keep pace with technological changes and market trends.

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    The rise of capitalism and globalisation will see the proliferation of businesses like never before. Strong business acumen and management skills are the hallmarks of a successful company, and as a business graduate, you will always be in high demand.

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