By Dr. Robert Gordon, CPC | 10/18/2024
A degree in business administration offers many advantages, particularly in today's dynamic global economy. As businesses continuously evolve – thanks to new technologies, market trends, and global challenges – the demand for individuals with comprehensive and flexible business skills has never been higher.
But still you may ask, “Why study business administration?” One of the primary benefits of a business administration degree is versatility. While more specialized degrees focus on more narrow and specific areas, a business administration curriculum covers a wide range of subjects that include:
- Finance
- Marketing
- Management
- Economics
- Human resources
- Project management
This broad spectrum of knowledge helps students to understand various aspects of a business. This type of degree also makes students highly adaptable by offering them the knowledge to pursue career opportunities in diverse industries.
Whether a graduate analyzes financial data, develops marketing strategies, or manages a team, the skills acquired through a business administration degree can apply to almost any business setting. For instance, graduates can pursue careers in finance, marketing, human resources, operations, and even entrepreneurship. Historically, employers highly respect this type of degree, as they often seek candidates with a solid foundation in business principles.
A business administration program's leadership and management training typically prepares students to seek leadership opportunities, too. Graduates who have a business administration degree can pursue roles such as manager, director, executive, and other higher-level positions. This degree also provides a strong foundation for entrepreneurs who aspire to start their own business.
The 5 Reasons to Seek a Business Administration Degree
However, the benefits graduates get from earning a business administration degree go beyond the ability to pursue job opportunities. Here are just a few.
Reason #1: Transferable Skills
Taking the courses for a business administration degree will help a student to gain transferable skills, such as sharp critical thinking, business ethics, and problem-solving skills.
A business administration degree hones critical thinking and problem-solving abilities through a curriculum that emphasizes case studies, real-world business scenarios, and strategic decision-making. Graduates learn to analyze complex situations, weigh the pros and cons of various approaches, and make informed decisions that can lead to the success or failure of a business.
The challenges of today's business world require sharp critical thinking and problem-solving skills. Often, business leaders faced with problems may need to think on their feet, quickly come up with practical solutions.
They may also require the communication skills to and communicate effectively. In addition, business leaders may need business acumen and financial management skills to determine whether products and services will work in the marketplace and be cost-effective for the organization.
Reason #2: Networking Opportunities
A business degree program can provide excellent networking opportunities. Business schools often have strong connections with the corporate world.
Business schools typically offer extensive networking opportunities and real-world experiences integral to career success. Internships, case competitions, and collaborative projects with industry partners allow students to apply their classroom knowledge in practical settings. These experiences enhance learning and help students build a professional network of classmates, professors, alumni, and industry peers.
Networking events, alumni connections, and industry partnerships provide access to human resources personnel, mentors, job opportunities, and insights into industry trends. This real-world experience and a solid network developed through networking skills can significantly boost career prospects.
Any student in business, especially one who pursues a business degree, should network with others to improve their understanding of the field. The more people you know, the more people that might be able to help you find a job in the future. Maintaining a solid network is essential after graduation.
Networking can also provide exposure to different career fields and offer the chance to explore various sectors of business. For example, I started in procurement and restaurant management, but eventually ended up in shipping.
I learned there were many segments of shipping, such as commercial and passenger. There are also subdivisions of commercial and passenger shipping, depending upon the nation and classification of the ships.
Similarly, my peers took different career paths and landed in different fields after earning their business degrees. These fields included:
- Project management
- Waste management
- Market analysis
- Analytics
- Business management
- Retail operations
- Telecommunications
In the end, there are (it seems to me) many more opportunities for someone with a degree in business administration than for others with a specialized degree.
Reason #3: A Knowledge of the Global Business Landscape
A global perspective is essential for business professionals to succeed in an increasingly globalized world. Business administration programs often include courses on international business, global markets, digital marketing, and cross-cultural management.
The global perspective learned in a business administration program prepares students to handle the demands of multinational corporations, understand global market trends and business management, and navigate the complexities of international trade and regulations. Students may also develop an understanding of cultural diversity, which is crucial in today's multicultural work environments.
I have a close relative who is knowledgeable about global matters, but that person’s perspective is about society and social issues. As interesting and valuable as this viewpoint is, it is not a good lens for viewing global business matters. Understanding the cultural norms of a society does not offer a good perspective on how that society might conduct business.
I have visited around 100 countries and conducted some business in most of these countries. Although I value my relationships with people in other nations, understanding how to do business in those countries and having the right communication skills can often be challenging. Having a business degree provided me with a useful perspective that eventually helped me work with company leaders in those nations.
Reason #4: Entrepreneurship Skills
Another significant advantage of a business administration degree program is the cultivation of entrepreneurial skills. A business administration program encourages students to think creatively and take calculated risks, which are skills essential for entrepreneurship. Courses on innovation, business development, and entrepreneurship provide students with the tools to identify market opportunities, develop business plans, understand good supply chain management and human resources, and launch ventures.
These entrepreneurial skills gained from a business degree are highly valuable, even for graduates who do not intend to start their own business. They foster a mindset that is open to innovation and adept at navigating the uncertainties of conducting business, making business graduates more effective in any role they choose to pursue.
Reason #5: Leadership Skills
Business administration programs are typically designed to develop candidates to pursue future leadership positions. From day one, business administration students are encouraged to think like leaders – solving problems, making decisions, and considering the ethical implications of their actions. Leadership and management courses and opportunities to lead teams on projects help students cultivate leadership skills early on.
By graduation, a business administration major is not just prepared to enter the workforce; that graduate is ready to pursue leadership roles in established companies or forge ahead with entrepreneurial ventures. This leadership preparation is a distinct advantage that sets business administration graduates apart from their peers in other disciplines.
Ultimately, a business administration degree is not just an academic credential. It is a transformative journey that shapes students into confident, adaptable, and globally aware business professionals ready to take on the challenges of the business world.
Business Administration Degrees at American Military University
For students interested in gaining the knowledge to pursue opportunities in the business world or seeking to upskill their abilities, American Military University (AMU) offers several degrees:
- An online associate degree in business administration
- An online bachelor’s degree in business administration
- An online master’s degree in business administration
Courses in these degree programs are taught by experienced faculty who can provide their students with a comprehensive understanding of the U.S. and international business worlds. The curriculum for these degrees includes courses such as:
- The basics of business
- Fundamentals of marketing
- Critical thinking strategies for business decisions
- Legal and ethical issues in management
- Corporate finance
- Marketing management
These degree programs have also received specialty certification from the Accreditation Council for Business Schools and Programs (ACBSP®). These programs have been meticulously examined to ensure that they are held to high academic standards in order to provide a well-rounded education to students.
For more information about AMU’s business administration degrees, visit our business administration and management program page.
ACBSP is a registered trademark of the Accreditation Council for Business Schools and Programs.