Investing in education is always a wise decision. Many opportunities open up when you become more educated. A business administration degree emphasizes planning, administration, leadership skills, and other aspects involved in running or managing a company.
Let’s take a look at the different career paths you can take with a business administration degree.
- Market Researcher
A market researcher analyzes the needs of a business target market, the existing competition, and how those competing markets might be addressed. This means they look at how consumers in one market behave, their purchasing patterns, and any relevant consumer trends. Market researchers spend a lot of time gathering this information so that it can be implemented in business strategy and projection.
Market research is a vital element of business strategy and an important factor in keeping competitiveness at its peak. Companies that depend only depend on consumers’ responses to products and services are seriously limiting their profit potential. Market researchers are qualified to ask the important questions that need addressing, so that the business keeps afloat by changing certain aspects that aren’t producing profit for them as well as adapting to the consumer environment.
Some possible methods of research include surveys, interviews, participant observation, or focus groups to gather data. You learn about these different methods when studying business administration courses. The benefit of having a degree is that you can work in any sector of the market. You can venture into corporate, non-profit, or academic areas. Where there is business, a market researcher is required.
- Development Specialist
A development specialist measures the performance of a business, government agency, or non-profit group by identifying needs, suggesting absolutions and reviewing methods of operation. A degree in business administration is usually required to obtain a job in this field.
In the United States, many agencies such as the Small Business Administration (SBA) and the Federal Trade Commission (FTC) have developed criteria for employment which include the following:
- Knowledge of business principles
- Effective written and verbal communication skills
- Problem-solving abilities; exceptional time management skills
- Sharp mathematical and verbal ability
- A working knowledge of technology
- An ability to follow detailed instructions.
Besides, this position requires strong computer literacy, interpersonal skills, and organizational skills. You won’t go wrong by obtaining a business administration degree because these are the type of skills that are taught and enhanced during your classes.
- Loan Officer
Loan officers are in charge of processing loans, especially for those with poor credit histories. Loan officers evaluate, authorize or recommend the approval of certain loan applications to individuals and companies. This means that these people work very closely with the company or lending institution where the loan is processed. Some also deal with borrowers and help them understand what type of loans they qualify for and what their obligations are once approved.
These officers are hired by the lending institutions because they have extensive experience dealing with individual borrowers. The more experience a loan officer has dealing with specific types of borrowers, the better he or she will be able to serve the needs of these individuals.
- Financial Analyst
A financial analyst is a specialist, undertaking financial analyses for either internal or external customers as a core component of their job. Analysts are required to have strong mathematical skills and ideally a master’s degree in finance or a related discipline such as business administration. A qualified financial analyst should also possess excellent writing skills, both verbal and written, along with well-developed networking capabilities.
The primary task of a financial analyst would be to prepare financial statements (over specified periods), report analysis of the data, and provide recommendations about investment strategies. It’s the analyst’s responsibility to ensure that the recommendations are executed as per the data derived. The analyst then assists the management in taking strategic business decisions to ensure the well-being of the company.
Analysts are required to conduct regular financial analyses, as required by government agencies such as the Securities and Exchange Commission, to ascertain the risks that are involved in particular investments. For instance, if an investor wants to invest in a particular asset, the investment should be analyzed to look at the possible inflation effects, the effect on short term interest rates and other factors that could affect an investment decision.
Other tasks performed by financial analysts include preparing and managing financial data reports (for internal and external customers), preparing financial statements (for internal and external customers), analyzing the financial data for trends and analysis of the investment strategy, and communicating the findings of the analysis to key decision-makers.
- Bookkeeper
A bookkeeper is a professional who maintains the records of a business. Bookkeepers give businesses various advantages which, when realized, make it worthwhile to hire them as part of the staff or to outsource to a professional bookkeeping firm.
The majority of bookkeepers are responsible for the organization of financial transactions, preparing reports, and assisting the accounting staff in processing financial transactions. In short, a bookkeeper’s job duties are very similar to those of an accountant.
- Event Planner
An event planner is a professional who assists organizations or individuals with the planning and management of events. Event planning is the art of planning and arranging activities to meet an objective. The objectives may be to organize a special event for a special purpose, to share information or to build team spirit, through creative means, which can be achieved through the coordination of diverse efforts including technical, financial, marketing, public relations or entertainment aspects.
To become an event manager, you’ll need to acquire a combination of certain skills that are necessary to perform this task. Many event management positions call for hands-on experience in the field while others require training, certain educational qualifications, and licensing or certifications.
Generally, if you’re planning to enter a career in event planning, either as an employee or as an independent contractor, you may want to take a few classes related to this field. You may want to take courses related to communications, public relations, and business administration.
- Business Consultants
A business consultant is a qualified professional who gives expert or specialist advice in a given field such as accounting, management, law, technology, human resources, advertising, finance, technology, restructuring, e-commerce, and supply management.
Today’s business consultants are highly educated professionals who have expert skills in their domain of expertise. They understand the latest concepts and methodologies of business consulting. Many are self-employed and have built their consulting firms. Some firms offer a complete range of consultancy services, while others specialize in a particular field. Some firms focus on providing services to a single firm or multiple companies.
Most business consultants work as independent contractors. They’re paid by the firms they serve and receive a fixed rate for each task they complete. Consultants who work for larger consulting firms earn a percentage of the total fees earned by their employers.
- Human Resources Manager
A human resources manager is responsible for the proper placement, training, and evaluation of individuals for professional positions that involve interaction with customers, clients and other businesses. They’re involved in the screening, interviewing and hiring of employees. They’re also responsible for coordinating training programs for new employees and their continuing assessment and development as well as updating other departments of the organization on employment law and safety issues.
It is the primary duty of a human resources manager to coordinate employment practices with tax, legal and other enforcement authorities and make the employment practices of their organization as consistent and fair as possible.
- Procurement Manager
A procurement officer or an acquisitions officer is an executive position focused on the procurement, sourcing, and distribution of goods and services for a business. The officer is responsible for the analysis, selection, and evaluation of all goods and services to determine the cost and delivery or receipt for the services. An acquisition officer is also responsible for negotiating contracts and working with suppliers to ensure that costs and terms are consistent with the original investment made.
There are regular meetings held between managers and procurement officers. At these meetings, the managers would discuss the current issues affecting the supply chain and how they can be solved. Procurement departments, which consist of several people, are usually the root of many problems and issues facing a business. This is why it’s important for employers to hire procurement officers that have the necessary foundation, training, and experience to address the needs of the business.
- Sports Manager
A sports operations manager is in charge of supervising every step that takes place in the day-to-day operations of any professional sports league or sports team. They’re also considered as one of the higher-ranking employees in the office, responsible for everything from scouting players to keeping track of injuries, and managing training programs.
Most of a sports operations manager’s time is spent planning a team’s schedule, making sure that every event takes place according to plan, and ensuring that every player and every member of the organization are happy with their work rate. This job requires an individual who is very organized, knows how to delegate tasks, and gets things done without having to use his or her voice.
The education required for sports operations manager varies depending on the school or professional association in which the individual graduated. There are college courses on sports management, including how to draft a competitive strategy and managing a team’s performance on the field. More advanced degrees, such as business administration can teach aspiring sports managers how to handle business affairs and manage strategic planning.
- Construction Manager
A construction manager is the individual who takes care of a construction project’s budget, schedules, materials, technology, safety, as well as communication. Besides, they’ll have overall supervision of the entire crew that handles every aspect of the project. A business administration degree is recommended to grasp the skills of the detailed organization that’s required here.
- Information Systems Manager
Infosys managers are often called upon to create and design software programs that will allow companies to process large amounts of data and keep their business running smoothly. They’re usually responsible for designing the networks that will be used by their employer, as well as helping to implement and maintain them. This means they need to know very much about networking, databases, and security.
- Health Systems Manager
A health services manager is responsible for the overall management of the financial and operational aspects of the health system. This individual also handles employment contracts, labor relations, benefits administration and quality improvement.
Health systems managers are also involved in training programs, regulatory activities. Furthermore, they provide budget planning, establish and implement therapeutic service plans, administer nursing care, coordinate insurance claims processing, develop and maintain quality management systems and ensure compliance with regulatory requirements.
- Economist
An economist is a person who analyzes how people and institutions interact and choose to interact. Economists not only examine data and statistics to identify what’s going on, they also make assumptions and use models and mathematical equations to arrive at their findings.
Some topics that are analyzed by economists include:
- How to regulate a business
- What kind of government best governs a country?
- What are the effects of international trade?
- How does technology affect the economy?
- What are the various drivers of globalization and why?
- What are the best tools an individual can use to get ahead in life?
- How does technology affect the education industry?
- How does health care affect the economy?
- What are the various ways that humans interact with one another?
- What is the best means by which an individual can get ahead in the economy?
To efficiently discuss and deal with these topics, many economists can benefit from having a business administration degree.
Conclusion
A business administration degree is a flexible degree that can help you venture onto different career paths. Some of the career options that you have as a result of obtaining the degree include, market researcher, financial analyst, loan officer, event planner, business consultant, sports manager, human resources manager, construction manager, information systems manager and economist. It’s always a good idea to invest in your education to create the future that you want for yourself.
