Advantages to a Career in Business Management
One of the best advantages professionals gain from a career in business management is a sense of job security, because no matter where cutbacks are made, companies still need someone to stick around and run the business. While the economy recovers, and businesses start to see an increase in profits as customers return to healthier spending, general managers will also enjoy the pride that comes with being the cog in the machine that allowed for upsurges in business.
Other perks include a lot of traveling, as business managers oftentimes must meet with clients in different locations. The biggest draw for most is a lucrative salary that is typically higher than lower management pay, with the average earnings reported to the Bureau of Labor Statistics at $91,570. With more experience, the professional is able to expand a career in general management to the very highest executive positions who enjoy wages that can exceed $1 million. For more information read our article on business management salaries.
As companies seek out the business management applicants with the most advanced skills to respond to changes in technology, a career in general management becomes the best way to utilize an Online MBA program. By adding education to experience, professionals can improve their desirability in the workforce.
MBA Graduates Succeed in Business Management Positions
In today’s data-driven world, leaders who can collect and maximize the use of information will be in high demand, which is why a career in general management is best for MBA graduates. During an MBA, professionals learn how to use the latest technologies in order to forward the mission of their companies or organizations. With those skills, they are able to fill the current gap in management needs and accelerate careers toward higher positions with higher pay quickly.
MBA Contributions to a Career in Business Management
Coming up with effective business strategy is the number one desired trait in general managers for employers who are looking to get business back on their feet. After a slew of cutbacks because of recession times, businesses are desperate for the type of guidance that can help grow their companies back to health. What this means for professionals is that right now, a recent education could actually become more meaningful in the application process than experience, because it signifies that the professional is up on the current tools and skills that businesses are looking to implement in their management strategies. An MBA could be the deciding factor to help professionals ascend to upper level positions.
Perhaps the most valuable part of attaining an MBA is that it usually diminishes the amount of time they have to work in lower paying jobs before they can fill the management positions they aspire to. While general management jobs can be achieved without having an advanced degree, an MBA can impress owners who are looking for the most educated and informed leaders to promote. Rather than gambling by investing a lot of time in lower level positions, an investment in education, particularly when enrolled in an online program that allows the professional to keep up with work simultaneously, is a safer bet for ambitious professionals.
Common Business Management Job Duties
A general business manager differs from other managers in that its his or her responsibility to oversee the entire organization, rather than a specific area or department within an organization. One major duty of a general manager includes managing business expenses against profits taken in. Even more, a career in general management encompasses big picture responsibilities including everything from sales management to the company structure.
Some typical titles that are applied to general business managers are President, Vice President, Branch Manager, Chief Marketing Officer, Chief Financial Officer, Director and Chief Operating Officer. Specific duties of each position changes depending on the needs of the company and how it formulates its chain of command, but for the most part, a career in general management places professionals in top positions in business. They always have at least some authority over lower level managers who directly report to them.
Different companies have different requirements for the education they expect from business managers, as well as the levels of experience they want general managers to bring into the position. Education is becoming a higher priority, however, after the economic collapse necessitated some major changes in the operations of businesses. Now, businesses are eager to find newly educated managers who can offer innovative strategies to help tackle this evolving industry.