What Is a Business Management Degree?

A degree in business management may help open doors to you after graduation. If you want opportunities to advance your management skills, you may wish to earn your master’s degree in the field after completing your baccalaureate degree. 

Here, we’ll take a closer look at questions such as, What is a business management degree, and What can I do with a degree in management? As you explore the descriptions of business management degrees and jobs, consider whether these choices might fit into your intended career path.

In This Article:

• Description of Business Management
• Types of Business Management
• Types of Business Management Degrees
• What Can I Do With a Degree in Management?
• Is a Business Management Degree Right for Me?

Description of Business Management

Business management involves organizing a company’s people, resources and activities with the goal of accomplishing the company’s long-term objectives in a way that’s aligned with its mission and values. The goals of a company are generally to create a profit for the business and its shareholders and to develop innovative products or services for consumers. 

So, what kind of jobs can you get with a business management degree? There is a broad range of opportunities, and not all of them are within for-profit companies. In fact, many business management professionals work for nonprofit groups. 

In a nonprofit, the goal is to connect a particular population to needed resources in a fiscally responsible manner. Nonprofits are beholden to their supporters and donors, and they must use their financial resources in an ethical manner, reducing overhead whenever possible so that more resources can be used to serve the target population.

Types of Business Management

Since business management is such a broad field, it’s not uncommon for professionals to specialize. There are many specializations to choose from, including:

• Strategic management: Typically performed by higher-level executives, strategic management involves planning and implementing strategies designed to enhance the company’s competitive advantage.
• Sales management: This includes management of sales teams, accounts and territories.
• Marketing management: This specialization is responsible for the management of campaigns, brands and promotional initiatives.
• Operations management: Operations management oversees the production of goods or execution of services.
• Supply chain management: This includes the management of the logistics of supply lines and sales (i.e., bringing raw materials to a factory and then bringing the finished products to the consumer).
• Project management: Project managers oversee the planning, organization, execution and assessment of projects.
• Human Resources Management: Human resource managers recruit, hire, train and develop a company’s employees in a manner that is aligned with the organization’s growth objectives.

Types of Business Management Degrees

Universities typically offer many different versions of business management degrees to help students hone their management skills. A business management program may be a bachelor’s degree or a master’s degree. One option is the Bachelor of Science in Business Management degree program or a similar bachelor's program in:

• Applied entrepreneurship
• Applied management
• Business administration
• Entrepreneurial studies
• Health care administration
• Hospitality management

Before you settle on a particular bachelor’s degree, you may want to speak with a career counselor to get a sense of the types of jobs that you may be qualified to pursue with any given degree. In addition, consider your own passions and interests. If you would like to open your own bed and breakfast or hotel, for example, you may want to major in hospitality management.

If you decide to further your academic qualifications with a master’s degree, you could pursue a Master of Business Administration (MBA) degree. An MBA degree program is widely considered to be the gold standard academic credential for future business leaders and executives.¹

As with the baccalaureate level, you can choose an MBA with a specialization that aligns with your career interests. If you’re currently working, evening and online degree options are available through many different colleges and universities so you can further your education while maintaining your career during the day. 

What Can I Do With a Degree in Management?

Now that you’re familiar with the field and the different types of business management degrees available, you may wish to consider whether any specific career paths within the field could align with your interests. What kind of jobs can you get with a business management degree? There are many choices, including the following:

Marketing Manager

A business management degree may lead graduates to pursue careers as marketing managers. A marketing manager is responsible for establishing and maintaining the brand voice of the company, and for overseeing communications between the business and its customers. Depending on the size of the company, a marketing manager may supervise multiple employees in the marketing department.

There is a need for marketing managers in the U.S. The U.S. Bureau of Labor Statistics (BLS) estimates job growth for advertising, promotions and marketing managers to be 6% from 2022 through 2032, faster than average. This rate of job growth indicates that employers expect to hire approximately 24,300 new marketing managers through this time period.² 

Financial Analyst

Financial analysts, also known as business analysts, are primarily responsible for evaluating the company’s financial performance and comparing that to its objectives. They also analyze market conditions, develop forecasts of revenue and expenditures, and provide reports that inform the strategic decisions made by senior management. 

Analysts may perform assessments of the costs of operations and recommend improvements. Companies may hire financial analysts directly, or they may retain the services of a consulting firm.

The BLS estimates the job growth rate for financial analysts to be 8% from 2022 through 2032, faster than average. This rate of job growth indicates that employers may hire about 29,000 new financial analysts through this time period.³

Human Resources Specialist

Some graduates with a business management degree may choose to specialize in human resources. A company’s HR department is responsible for its most important asset: its employees. HR experts are responsible for recruiting, screening, interviewing and hiring job candidates. They deal with employees’ compensation and benefits packages, and they apply conflict resolution skills to manage workplace disputes.

Increasingly, companies are relying on their HR department to create programs and strategies that align with the business’ long-term growth objectives. HR specialists may be tasked with developing training programs and workshops for the employees, for example, or researching effective methods of retaining top talent. It’s their role to ensure a high level of employee satisfaction, as well as workplace productivity.

Entrepreneur

The entrepreneurial mindset involves the drive toward innovation and new opportunities through the creation of new business entities, services and products. If you have an entrepreneurial mentality, you may consider launching your own company after graduating with a business management degree. 

If you do, you’ll be in good company. As of 2023, there were about 33.2 million small businesses in the U.S. and in 2021 alone there was a record-breaking number of new business applications filed—5.4 million.⁴

Becoming an entrepreneur necessitates careful planning and market research. If you enroll in GCU’s Bachelor of Science in Entrepreneurial Studies, you’ll learn all about the best practices in entrepreneurship.

Business Development Manager

Do you have an entrepreneurial mindset, but do not have an interest in starting your own business? If so, then you might consider pursuing a role as a business development manager. 

The primary responsibility of these professionals is to identify new opportunities for growth. They analyze the markets and consumer demands, forge new partnerships, and develop new products or services.

Is a Business Management Degree Right for Me?

Now that you know the answer to the question, What kind of jobs can you get with a business management degree? you may be wondering if it could be a good choice for your career path. A business management degree can appeal to a wide range of people due to its versatility. 

With this academic credential, you may pursue job opportunities in virtually any industry. This degree may also open opportunities within all sectors, including governmental agencies and nonprofits. A degree in business management might be the right choice if any of the following statements apply to you:

• You’re a good listener who believes you can learn something valuable from everyone you meet.
• You take the time to consider every possibility and review all available information before making a decision.
• You’re committed to using ethical judgment and decision-making to ensure your organization stays on the right track.
• You can stay focused under pressure, are able to think on your feet and stay calm even in the midst of challenging situations.
• You can work well with people with all types of personalities from any background.

If you’re still not sure whether a degree in business management might be right for you, consider talking to a student advisor or career counselor for personalized guidance.

You can prepare for your future at Grand Canyon University. The Colangelo College of Business offers multiple on-campus and online degree options in this field, including the Bachelor of Science in Business Management degree program. 

Working professionals who are interested in positioning themselves to potentially further their career prospects may consider earning a Master of Business Administration (MBA) at GCU, with the option to specialize in areas such as cybersecurity, health systems management and project management. Fill out the form on this page to get more information.