Management is a critical component of business operations. It is needed in every industry and nearly every corner of companies, in order to be productive and profitable. As a result, management is an important topic for students to learn in college—no matter their professional goals. Management is a versatile subject that teaches students how to understand organizational behavior, motivate and influence others, as well as become a leader in the modern business world. In a competitive job market filled with qualified candidates, leadership and management skills can be exactly what sets you apart.
Whether you’re an entrepreneur, have spent time in the workforce, or are just starting out in college, you may be wondering the benefits of studying management. If you are considering a management-related degree, you may be assessing how this will improve your job prospects down the road.
There are many reasons to study management and to pursue a management-focused major. The study of management will provide you with the tools and skills needed to land leadership positions, head up your own company, as well as manage teams, individuals, and organizations effectively. Studying management will also position you for outstanding earning potential.
According to the U.S. Bureau of Labor Statistics’ latest data, the average annual wage of managers—across all industries—is currently $109,760 per year. Certain fields, such as human resources, marketing, sales, and finance, have even higher salary potential.
With earnings so high, it’s clear that managers are valued in every field and organization. Good managers are what makes a company thrive. However, good managers are not just born. They are trained. Those managers lacking experience and training can be what brings a failing company to the ground, which is why education is so important. Studying management and leadership enables managers to succeed.
If you are interested in learning more about the perks of studying management, read on. Below, we outline the top six reasons why aspiring leaders should study management and consider pursuing a business leadership degree.
The Top Reasons to Study Management
1. Advance Your Current Career
One of the top reasons that students choose to study management and leadership is career advancement. Some work in an organization they love, but have no upward mobility with their current education and experience. Some feel stuck in their current job and wish to take on a more challenging and gratifying role. A business degree, involving management focused courses, can be their ticket to climbing the ranks and achieving the managerial position of their dreams.
If you are looking to advance in your current career or qualify for new, higher-up opportunities, a management or leadership degree can get you there. Before taking this next step, however, it’s important to ask yourself which degree will set you apart. There are bachelor’s degree programs in business and management, as well as master’s degrees focused on leadership. Both cover topics of strategy, theory, and business planning and development—valuable assets for any managerial career. Therefore, it’s important to ask yourself which degree will position you for the utmost success ahead.
2. Qualify for a Variety of High-Paying, In-Demand Careers
The business arena today is highly-competitive, and its job market is no exception. To land a career in management, you will need to hold a specialized degree that has prepared you to effectively lead a business.
A business administration degree, for example, covers key management topics like budgeting and planning, entrepreneurship, marketing, finance, e-business, and non-profit management. A Master’s in Organizational Leadership (MSOL), meanwhile, covers advanced topics like negotiation, conflict response, performance management, executive decision-making, and more.
All in all, studying management and leadership at the undergraduate or graduate level will prepare you for a range of high-paying, in-demand career opportunities that span multiple industries. Examples of leadership careers you can pursue with a management-focused degree include:
- Human Resources Officer
- Training and Development Manager
- Sales Manager
- Public Relations Manager
- Higher Education Administrator
- Medical and Health Services Manager
- Industrial Production Manager
- Advertising or Marketing Manager
- C-Level Executive (Chief Marketing Officer, Chief Financial Officer, etc.)
3. Start Your Own Business
Perhaps the above management titles do not appeal to you because, at heart, you are an entrepreneur. You may have a business idea (or many!) in mind and simply need the education to bring it to fruition. You may dream of being your own boss, working your own hours, and heading up your own company. This is reason enough to study management—so that you gain the skills needed to bring your ideas to life, to market your business successfully, and to run your business efficiently.
Many of the students at Goodwin University are self-driven innovators and entrepreneurs. Many enter our business administration programs equipped with an idea for a product or business concept. What they leave with, however, is a strong skillset, business foundation, and knowledge of today’s growing corporate arena.
In the beginning, you may not have an idea of where you want to take your ideas or plant your seed. You may not know how to build the right connections, look for expansion opportunities, or foster a community among your team. This is where college-level business classes can help. At Goodwin University, the bachelor’s degree curriculum is focused on the concept of entrepreneurship and the development of small business ownership. We will help connect you with a network of knowledgeable professionals who will support and mentor you throughout your entrepreneurial journey. You’ll learn not only how to start a business, but also how to run, and manage your own business for years to come.
4. Make Professional Connections
Just as communication is the cornerstone of all good business relationships, relationships are the cornerstone of great business success. But how do you build these relationships from the ground up? How do you make connections and network in such a competitive business arena?
The study of management goes much beyond the information that you obtain. A major reason why so many leaders choose to study management is for the connections and the network they can build within the program. In a business administration or leadership degree program, you consistently have the opportunity to collaborate with your peers, gain insights from fellow students, and work out any challenges or questions you may have through the program’s educators. At Goodwin, we have strong connections with businesses throughout Connecticut, putting our students at a great advantage for networking. Here, we believe building connections is a major component of management study.
5. Gain Transferable Skills that Employers are Seeking
One of the greatest benefits of studying management is skills development. Through career-focused business courses, you will be given the opportunity to develop a valuable, transferable set of skills that employers are looking for in all job candidates today.
In the current job market, employers desire managers who have dipped their toes into all aspects of business – from business operations to effective communication processes, from organizational ethics to strategy and statistics. They often seek out applicants holding bachelor’s and master’s degrees.
The business programs at Goodwin University take all of this into account when training our students for long-term careers. Through specialized training, we teach students to manage innovation, facilitate change, and develop talent as well as their interpersonal skills. Students gain versatile and valuable skills that can be applied to any career, including:
- Employee Development
- Business Ethics
- Facilitating Change
6. It’s Easier than Ever to Earn a Business Degree
If you are still looking for a reason to study management and leadership, consider this: It is easier than ever to pursue a degree, with the array of flexible programs available to you. Today, there are business administration and organizational leadership programs that offer adaptable course schedules that can be tailored to your needs. If you are already working in a business or have other obligations at home, a degree is still possible for you.
Goodwin University offers a variety of career-focused, flexible business programs with management courses available. The Master’s in Organizational Leadership program, for example, is offered entirely online – meaning you can take classes from just about anywhere with an internet connection. Business administration classes are also offered on days, weekends, and evenings, so you can find courses that within your schedule. And if you are looking to finish your degree quickly, there are accelerated options.
Rather than asking yourself, “Why study management?”, ask yourself, “Why not?”
Whether you dream of starting your own company, moving up the ladder into an advanced managerial position, or diving head-on into the corporate world, there is no reason for you not to consider earning a management degree.
The benefits of studying management are endless. Take the next step in your career and become a leader. Visit us online to learn more.
Goodwin University is a nonprofit institution of higher education and is accredited by the New England Commission of Higher Education (NECHE), formerly known as the New England Association of Schools and Colleges (NEASC). Goodwin University was founded in 1999, with the goal of serving a diverse student population with career-focused degree programs that lead to strong employment outcomes.