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Studying business management can be a strategic choice for someone with an entrepreneurial spirit. This field of study could help equip you to launch and lead your own business. At some schools, business internships are an essential part of the curriculum. Completing an internship with a company can give you the opportunity to gain practical knowledge of what’s involved in management roles. Even if an internship isn’t required for graduation, your school may be able to help you secure one. Northern State University’s Bachelor’s in Management program aims to provide students with essential management knowledge in diverse areas of business.
Levels of management
A bureaucratic management style relies on rules, policies and standard operating procedures, rather than a leader’s personality, interests or charisma. Team members are evaluated on standard criteria, projects are planned according to procedure and goals are meticulously measured and reported. A laissez-faire management style is a hands-off approach to leadership that lets team members work independently and make decisions for themselves. Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University.
For example, you might be suited for autocratic leadership if you’re highly analytical and introspective, but democratic, coaching and charismatic management might not come easily to you. Once you identify the characteristics of your management style that aren’t working, discover the characteristics of others that might address your problems. Adopting or incorporating new management styles requires not only changing your behaviors and protocols but also evaluating your values, beliefs, attitude and personality type. Budget management – allows you to track expenses and income, giving you a comprehensive view of your financial standing. Time tracking – helps you keep tabs on how time is being spent on various projects, enabling you to optimize productivity and resource allocation. Tasks management – allows you to efficiently assign and track tasks, ensuring that nothing falls through the cracks.
How you study
This education is paired with internships, giving students a practical and well-rounded skillset they can take with them into any workplace. If you have a passion for overseeing the broader aspects of an organization, analyzing trends, and making strategic decisions, business administration may be the right path for you. But if you enjoy managing teams, handling conflict resolution, optimizing a company’s operations, and ensuring the smooth execution of projects, a business management degree may be a better fit for you. Unlike business administration, business management is more focused on the daily operations of a company.
- According to Fayol, the five functions of management are planning, organizing, commanding, coordinating, and controlling.
- In today’s competitive business world, it’s crucial to have a solid foundation in both business administration and business management.
- Overall, a successful Business Management career requires a combination of Business Development Skills.
- Career paths in business administration are often more diverse, with options ranging from executive leadership roles to consulting and entrepreneurship.