Why study business management? 8 reasons why

Want to be at the top of your game in the corporate world? A business management degree may be the next logical step. For ambitious individuals who want to make their mark in finance, marketing and consulting and more, a degree offers students a wealth of highly transferable skills that are applicable to the real world of business management and relations.

Whether you can see yourself working in senior management for a globally-renowned company, or you’re brimming with your own entrepreneurial ideas and need some help making them a reality, there are so many benefits of taking a business management degree — and we’re going to dive into 8 of them in this article.

So, keep reading to find out exactly what business management is, how a degree could open up your career possibilities and increase your earning potential, and much more.

What is business management?

The discipline of business management is extremely broad, which makes sense when you consider all of the different roles and responsibilities that go into the successful running of a business. 

Essentially, business management encapsulates the planning, organising, directing and controlling of resources, people and activities within a business. Already seems like a lot, doesn’t it? Business management can also be broken down into five key areas: strategy, marketing, finance, HR and operations. 

When you take a degree in business management, you’ll get an overview of all of these topics, but you might decide that you’re particularly interested in one aspect of running a business. This can guide you when choosing elective modules or deciding on projects.

8 reasons to study business management

Let’s get into a bit more detail. What are the 8 main reasons you should take a business management degree? Below, we’ll explore everything from salaries to networking, so you know what you’re getting into before you apply.

1. Become a pro at business management

You’re probably here because you’re passionate or deeply curious about running a business. A degree is exactly what you need to kickstart your career in the corporate world, as you’ll get to learn about every single aspect of business management.

From learning how to create an effective business strategy, to developing project management skills and techniques, to creating a viable financial plan for a business, you’ll unlock all the tools you need to respond to the diverse set of challenges and developments in the global business landscape.

By the end of your degree, you’ll be a valuable asset to any team, no matter which industry you choose to pursue a career in. Then, you’ll be ready to create organisational growth and climb the career ladder.

2. Develop highly transferable skills

Even if you don’t know which exact career you’re aiming for when you go into your degree, you don’t need to worry. You learn a wide range of transferable skills, often called ‘soft skills’ on a business management degree, and these are useful in every kind of job.

In fact, a 2019 report from LinkedIn states that 92% of talent professionals believe soft skills are equal to or even more important than hard skills when recruiting people. A further 89% said that when a new hire doesn’t work out, it’s due to a lack of critical soft skills. So, the importance of these kinds of skills cannot be understated.

Take a look at some of the essential soft skills you’ll develop below.

• Effective communication
• Creative problem-solving
• Critical and strategic thinking
• Decision-making
• Teamwork
• Management and leadership
• Presentations and reporting 
• Project management
• Networking.

3. Open up your career possibilities

The transferable skills and expertise you gain on a business management degree can lead to an incredibly wide range of careers, so you’re able to wait and find the thing you’re most passionate about — and the more passionate you are, the better your chances at being satisfied with your job.

As you study different modules on your degree, it may become clear that you’re interested in pathways like marketing or HR, or more technical pathways like business analytics or data visualisation. Or, something different. 

See where you could work as a business management graduate below.

• Digital marketing and advertising
• Consultancy
• Human resources
• Accountancy
• Investments
• Product management
• Sales
• Public relations
• Management.

4. Expand your entrepreneurial potential

Perhaps it’s not your dream to work for someone else — instead, you want to learn everything you can so that you can kickstart your own business and fill a gap in the market.

A business management degree is the perfect way to do that, giving you an understanding of all business areas and the confidence to create, test and launch any business ideas you may have. 

What’s more, you might even meet a potential business partner at university on your course. After all, you’re all interested in running a business, and you might find someone who compliments your skill set perfectly.

5. Increase your earning potential

There’s no doubt about it that high salaries are a big draw for business professionals. While nothing is guaranteed, there are plenty of well paid positions in the corporate world, and this is especially true if you have management or leadership expertise.

Studying a business management degree puts you in great stead to snap up those management positions, since you will have covered how to manage people, products, finances, resources and more on your degree. 

While Glassdoor lists the current average salary for business management graduates as £31,182, there can be very fast progression in the corporate world, so soon you could be earning much more. For example, Senior Product Managers earn an average of £83,812 per year, and those working as Head of Human Resources make £79,913 annually.

6. Always be high in demand

Having in-demand skills means you’ll be a very desirable hire for plenty of employers, and it shouldn’t be too difficult for you to find jobs. Business management graduates could find themselves working for some of the biggest companies in the world, like Amazon, Deloitte and Accenture. 

To put things into perspective, HR News put business degrees second in their list of the top 20 most in-demand degrees in the UK. Additionally, GMAC’s 2021 Corporate Recruiters Survey found that tech companies are increasingly hiring business school graduates every year, to keep driving organisational growth and innovation in a flourishing tech landscape.

This growing demand isn’t surprising — management roles are present in every industry on the planet, from local businesses to international corporations. And it’s all good news, since being high in demand leads to greater job security.

7. Gain insight from industry experts

Completing a business management degree gives you the opportunity to learn from some of the best in business — quite literally. Lecturers at business schools and university business departments have years of experience working and researching in the field, so they’re well placed to pass on their industry insights.

Plus, having a degree from a globally renowned institution is likely to do wonders for your career, opening up opportunities with businesses looking for talented graduates.

8. Network your way to the top

Our final reason you should take a business management degree is for the networking opportunities. This relates to our previous point, as you’ll be able to connect with your professors who are also world-leading business experts, but that’s not all.

Most business management degrees require you to take part in projects with real businesses, offering the chance for you to make connections in the real world that could lead to future collaborations. 

Then, of course, there are your fellow classmates. Having a large network leads to more opportunities, friendships, and support, all of which can help you achieve a successful and long-lasting career.

Benefits of studying business management

As you can see, there are many benefits of gaining a degree in business management. No matter what your reasons for studying are, you’ll be sure to learn a wealth of skills that will prepare you for any career in the future, even if you decide you don’t want to work in business.

For example, the organisational, communication and leadership skills you learn on a business management degree would help you become a great teacher. Alternatively, the financial and analytical skills you gain might be the perfect springboard for a career in tech.

Study a business management degree online

Want to get a business management degree, but worried you don’t have the time or money to commit to an in-person program? 

There’s another way you can get a business management degree — a less traditional, but still respected route. Studying for your degree online means you don’t have to put all other commitments on hold, you can study wherever and whenever it suits you, and you may even save money.

So, why not explore your business management options on FutureLearn? Take a look at some of our offerings below, and future-proof your career in the world of business.

• BA Marketing by London School of Design and Marketing
• BA (Hons) Business Management by Arden University
• Graduate Certificate of Digital Learning Leadership by Deakin University
• MSc Global Marketing by the University of Roehampton
• MSc Business and Management by Cranfield School of Management
• MSc International Management by the University of Birmingham

Discover our full range of online business and management degrees on our website.

Final thoughts

Now that you know all the main benefits of getting a business management degree, the choice is up to you. If you’re ready, there are plenty of options that could catapult your business career in just a few years. Explore our online degrees and see where one could take you.