Career Opportunities In Business Studies- Wondering what career opportunities are present in the field of business studies? Business studies simply involve the study of different activities that takes place around production , distribution and consumption of goods and services. In this article, you will discover different career opportunities in business studies. Lets begin.
List Of Career Opportunities In Business Studies
Below are career opportunities in Business studies
- Office Management
- Accounting
- Marketing
- Human Resource Management
- Insurance
- Logistics
- Business Administration
- Brokeage
- Entrepreneur
1. Office Management
This is one of the career opportunities in Business studies. The profession involves the design, implementation, evaluation of workflow in an organization so as to attain and sustain efficiency and productivity. The following skills are essential in office management : planning, organizing, leadership, etc.
A person that works in the role of office management is known as an office manager. This profession is a part of administration of business.
Roles Of An Office Manager
Some roles of an office manager include the following:
- Monitoring and reviewing of systems
- Recruitment and training
- Data base management
- Facilities and human resource management
- Project management, etc.
Skills Needed For Office Management
You need to have high competence in the following skills as a project manager:
- Problem solving
- Good decision making skill
- Integrity
- Creativity
- Flexibility
- Time management
- Ability to work under pressure
2. Accounting
This profession is one of the career opportunities in Business studies. It involves measurement, processing and sharing of financial and non-financial details of businesses and corporation. An accountant is a person that carries out accounting activities of a business, organization or corporation.
Job Roles In Accounting
- Track movement of money
- Keep and maintain financial records
- Protection of business assets
- Calculate profit & loss
- Facilitate decision making, etc.
Branches Of Accounting
There are different branches of accounting and they include:
- Financial accounting
- Managerial accounting
- Cost accounting
- Auditing accounting
- Tax accounting
- Fiduciary accounting
- Project accounting
- Forensic accounting
- Fund accounting
- Government accounting
- Political campaign accounting
- International accounting, etc.
Skills Accountants Must Possess
- Strong attention to details
- Must be well-organised
- Time management
- Good mathematical skills
- Communication
- Problem solving
- IT skills
- Critical thinking
- Business acumen, etc.
3. Marketing
It is a profession that involves advertising, promotion and sales of products/ services. Marketing encompasses all the activities an organization undertakes to promote/ enhance the sales of a product service. Some of the activities carried out in the marketing department of an organization include:
- Promotion
- Sales
- Pricing
- Distribution
- Product management
- Financing
- Marketing information management.
Marketing is one of the most important unit in an organization. An organization that would thrive must have a strong marketing team. The following skills are crucial for you to effectively function in a marketing role:
Skills Needed To Function In Marketing
- Attention to detail
- Strong communication skills
- Leadership
- Data analysis
- Interpersonal skills
- Problem solving
- Creativity skills, etc.
4. Human Resource Management
This is one of the career opportunities in Business studies. This arm of Business studies is involved in the effective management of the people working in an organization . The department ensures the well-being, satisfaction and safety of the employees in an organization.
To work as an effective HR manager , you must have the following qualities:
- Integrity
- Patience
- Leadership
- Effective communication skills
- Strong decision making abilities
- Sympathetic attitude
Roles of Human Resource Management
- Recruitment, training and development of employees
- Ensures work place safety
- Manages employee benefit and compensation
- Ensure and enforce compliance
- Maintain organizational culture
- Ensures workplace is safe
- Handle disciplinary action
5. Insurance
This is also one of the interesting career opportunities in Business studies. It is an aspect of business studies that involves risk management. Insurance work like a financial safety net that helps people recover after a bad occurrence.
Types of insurance include life, health, auto and long term disability.
To work as an insurance agent, you must have the following skills:
Skills Needed To Work In Insurance
- Good customer service
- Good organizational skills
- Strong attention to details
- Strong analytical skills
- Effective communication skills
- Good mathematical skills
Some of the job roles in an insurance industry include:
- Sales agent
- Actuary
- Claims
- Adjuster and
- Underwriter
6. Logistics
Logistics involves the acquisition, storage and transportation of goods/invention from its origin to a fixed destination. It is a vital aspect in supply chain management.
What Is Done In logistics
- Processing of order
- Warehousing
- Management of inventory
- Packaging
- Handling of cargo
- Transportation
Job Roles In Logistics
You could work in any of the following capacity in logistics:
- Freight agent
- Supply chain manager
- Warehouse logistics manager
- Transportation analyst
- Logistics Engineer
- Dispatcher
- Logistician
- Operations manager
- Inventory manager
- Procurement manager
- Customer service representative
- Logistics consultant
- International logistics manager
- Freight forwarder
- Truck driver
7. Business Administration
Business administration is the summation of the effort of a company to achieve its goals and objectives using human and material resources. In business administration, you will focus majorly on these topics: marketing, finance, accounting, human resources, project management, etc.
Job Responsibilities of A Business Administrator
- Hiring of new employees
- Motivating employees
- Oversee business operation
- Organize and supervise staff’s operation
- Manage resources
With a degree in Business administration, you can also get the following jobs:
- Logistics manager
- Sales manager
- Marketing manager
- Business analyst
- Market research analyst
- Office manager
8. Brokeage
You can work in the brokeage as a stock broker. Here , you will be providing clients with financial services like stockbroking. A stockbroker is a professional who is licensed to buy and sell stocks and securities on behalf of their clients (individuals or institution).
Roles Of A Stockbroker
- Provide investment advice to clients
- Manage client investment portfolio
- Evaluate financial reports accurately
- Update clients on regular basis of their investment portfolio status
- Search for new clients through cold calling and networking
- Inform clients of new investment opportunities
How To Become A Stockbroker
- Get a bachelor’s degree in a business-related field e.g accounting, economics, finance, etc.
- Get an MBA (Master of Business Administration)
- Get some professional experience
- Get relevant certification
Skills Required For A Stock Broker
- Analytical skills
- Communication
- Adaptability
- Interpersonal skills
- IT skills
- Mathematical skills
- Attention to details
- Negotiation
- Risk analysis
- Decision making
9. Entrepreneur
The role of an Entreprenuer is amnong the good career opportunities in Business studies. An entrepreneur is an individual that starts and grow a business. He/ She identifies a need/ problem and then come up with a business idea to solve that problem.
Role Of An Entrepreneur
- Initiate and manage business activities
- Identify business opportunities
- Take decision and risks
- Build partnerships
- Monitor/coordinate activities of employees
- Create jobs
Skills Needed By An Entrepreneur
- Creativity
- Communication
- Leadership
- Management
- Marketing
- Financial skills
- Resilience
- Strategic Planning
- Decision making
- Time management
- Problem solving
How To Become An Entrepreneur
You need some knowledge
You can acquire a degree in business administration or related field. If you have a degree in a different field, you can take up a short course in business administration or rleted filed.
Search for a profitable business idea
The easiest way to do is to look around for problems amd try to create a solution through a business idea.
Create a product/service
Validate your plan
Write a good business plan
This is important as it will serve as a guide for you. You will also need it when you want to seek for funding.
Secure funding
You can use personal savings, gifts from family and friends, grants, loans, etc.
Launch out your business
Manage your business
Other Career Opportunities In Business Studies
- Teaching
- Risk Analyst
- Actuarial Science
- Public Relations
- Tax policy analyst
- Asset management
Conclusion
Now you have the list of career opportunities in Business studies . You have also seen different skills required for you to effectively function in any of the careers mentioned.
Frequently Asked Questions
What skills is required for successful career opportunities in Business studies?
- Good communication skills
- Management and leadership
- Financial intelligence
- Critical thinking and problem solving
- Information technology
- Innovation
- Creativity
- Negotiation
What are the branches of business studies?
- Accountancy
- Finance
- Marketing
- Operations
- Organizational studies
- Human resource management
Is a degree in Business studies a good idea?
Yes. Having a degree in business studies can increase your job prospects and increase your sources of income.
Reference
- www. online.maruville.edu- How to become a stockbroker
- www. indeed. com – 12 Branches of accounting: What they are and they do
- www. indeed.com- The 7 marketing functions and their importance in strategy
- www. onlinecounsellingprograms. com- What does an HR Manager do? 7 Functions of human resources
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