What Is Business Management? And Why It Can Be a Great Career Choice

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Business manager speaking to three employees in an office setting.

What Is Business Management?

Business management is the process of planning, organizing, directing, and controlling the activities of a business or organization to achieve its goals and objectives. It involves overseeing all aspects of a business, from finance and operations to marketing and human resources.

Leadership skills, effective communication, and problem-solving are critical for strong business managers. Through their ability to make strategic decisions, they drive the success of the organization.

Key Takeaways

Business management involves planning, organizing, directing, and controlling various activities to meet organizational objectives.
The BLS expects the field of business management to grow 8% from 2023 to 2033. This growth includes diverse roles such as retail supervisors and administrative services managers—offering competitive salaries and career advancement.
An associate’s degree in business management provides you with critical skills needed for entry-level management roles. Most programs offer flexible online instruction and comprehensive student support services.

Every Organization Needs Leaders

Not everyone can be a leader or manager at work, and many people don’t want the responsibilities of overseeing employees and processes. Fortunately, others feel called to work in management roles and want to make a meaningful impact on their teams and their employers.

Some managers go through company training to learn the skills they need. Others who are new to management “learn by doing,” having to figure things out as they go. Additionally, some entry-level managers start the job with formal management education under their belts, which helps them be more confident in their supervisory roles.

Managers Are in Demand Today

The Bureau of Labor Statistics (BLS) expects employment in management occupations to grow 8% between 2023 to 2033, faster than the average for all occupations. With 1.2 million job openings projected each year, you have a broad range of management opportunities available to you!

If you do some research online, you’ll see a variety of entry-level manager positions, including positions like these:

Occupation	Job Summary	2023 Median Pay
First-Line Supervisors of Retail Sales Workers	Supervisors coordinate the activities of retail sales workers in a store or department. Responsibilities may involve managerial tasks like purchasing, budgeting, accounting, and personnel management.	$52,030
Property, Real Estate, and Community Association Managers	Property, real estate, and community association managers take care of various aspects of residential, commercial, or industrial properties. They handle tasks like maintenance, renting, and community management.	$62,850
Food Service Managers	Food service managers oversee the day-to-day running of restaurants or other establishments focused on food and beverage service.	$63,060
Lodging Managers	Lodging managers make sure guests enjoy their stay at accommodation facilities like a hotel or inn. They also organize and oversee tasks to make sure the place runs smoothly and makes money.	$65,360
Entertainment and Recreation Managers	Entertainment and recreation managers organize and oversee activities and operations related to fitness and leisure. They plan and direct various events and programs to ensure people have fun and stay active.	$73,460
Social and Community Service Managers	Social and community service managers coordinate and supervise initiatives aimed at supporting public well-being and individuals in need.	$77,030
Farmers, Ranchers, and Other Agricultural Managers	Farmers, ranchers, and other agricultural managers oversee operations that involve growing crops, raising livestock, and producing dairy products on their establishments.	$83,770
Administrative Services and Facilities Managers	Administrative services and facilities managers are in charge of planning, directing, and coordinating activities that ensure an organization runs smoothly.	$104,900

What Are Some Specialized Areas of Business Management?

Just as there are varied roles in the business management field, there are also several different areas in which you can specialize. Regardless of your area of specialization, as a business manager you’ll often be tasked with making decisions that lead to continuous improvement for your company.

Here are a few areas where you can choose to specialize within the field of business management:

Financial Management
Marketing Management
Human Resource Management
Operations Management

Financial Management

If you have a particular interest in overseeing budgeting and financial procedures within an organization, you’ll do well in financial management roles. For example, financial managers work in a variety of niches, including investment banking, wealth management, and private equity.

Marketing Management

Marketing management, another niche within the business industry, is an excellent fit if you’re passionate about brand management and marketing strategy. Potential job opportunities in this area include marketing manager, brand manager, and digital marketing manager.

Human Resource Management

For individuals who thrive in people-oriented roles, human resource management allows them to focus on employee recruitment, satisfaction, and retention efforts. A career as a human resources manager can be lucrative, with a median annual wage of $140,030 in 2024.

Operations Management

Maybe your ideal role involves designing and managing operational processes. If so, then operations management is the niche for you. Operations management allows you to focus on allocating resources and optimizing processes in a variety of industries—from manufacturing to health care.

Associate Degree in Business Management

If a rewarding career in management is on your life’s bucket list, here’s something that can help you conquer that goal: Get a degree in business management.

The University of Cincinnati Online offers an Associate of Business Management Technology (BMTN) degree program that’s focused, flexible, and designed for today’s modern students.

Our BMTN program prepares you to move into an entry-level supervisory or management position in a wide variety of business settings, with a format that allows you to:

Study part or full-time. If you attend full-time, you’ll get your associate degree in two years. Your time in the program will move quickly, and you’ll have your degree before you know it.
Earn a degree online. You can complete 100% of your courses online! With zero campus visits required, just think of all the time you’ll save.
Learn on your schedule. If you want to study on weeknights or prefer the weekend, the program gives you the flexibility you need to balance your studies with work and family obligations.
Get the support you need. Our program is 100% engineered for your success. You learn from experienced educators and get access to helpful tools and technical support. We pair you with a Student Success Coordinator who’s with you from enrollment to graduation — they’ll be your biggest champion.

Business Management Curriculum

We’ve designed our program curriculum to help you excel in the business world. You’ll complete a minimum of 60 credit hours to graduate, studying subjects that include Entrepreneurship, Financial Accounting, Introduction to Marketing, Personal Selling and Sales Management, and Fundamentals of Human Resources.

Completing UC Online’s business management degree equips you with skills that are highly sought after by employers, such as:

Effectively communicating in a business setting
Analyzing scenarios and drawing suitable conclusions
Demonstrating effective team management skills
Executing the four functions of management: planning, organizing, leading, and controlling
Using critical thinking skills to solve problems and make decisions based on accepted business principles

Ready to Grow Your Management Expertise?

A career in business management can offer a range of opportunities for personal and professional growth. With the right education and experience, individuals can develop the skills needed to succeed in this challenging and rewarding field. From leading teams and making strategic decisions to navigating complex business environments, business management requires a diverse set of skills and a commitment to lifelong learning.

Pursuing a degree in business management can be a great way to kick start your career or take your next step in leadership. Whether you aspire to be an entrepreneur, a corporate executive, or a community leader, an associate degree in business management can help you achieve your goals and make a positive impact on the world around you.

The UC Online staff is ready to answer your questions about the Associate of Business Management Technology program. You can connect online with an advisor, or call our associate degree specialists’ team at 833-556-7877.

We look forward to helping you manage and lead!

Frequently Asked Questions (FAQs)

What is the key purpose of business management?

The primary purpose of business management is to oversee and coordinate the various activities within an organization to ensure they align with and achieve the company’s goals and objectives. This involves optimizing resources and guiding teams to maintain efficiency and drive organizational success.

What are business management skills?

Some of the most important business management skills including leadership, effective communication, strategic decision-making, and project management. By building this skill set, managers can reach short-term business goals while also working toward achieving long-term milestones.

What is an example of business management?

In a business management role, you might oversee a retail store’s day-to-day operations. Your responsibilities may include including managing inventory, supervising team members, ensuring customer satisfaction, and other strategic planning as needed.

What is the difference between business management and business administration?

Whereas business administration focuses more broadly on strategic planning, business management concentrates on the daily operations that stimulate company growth. Degree programs in both disciplines prepare you for leadership roles in business.