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Business education is a branch of education that involves teaching the skills and operations of the business industry. This field of education occurs at multiple levels, including secondary and higher education


Secondary education

At secondary level, Business Studies, as it is often called, typically combines elements of accountancy, finance, marketing, organizational studies, human resource management and
economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics anal ...
. The range of topics is designed to give the student a general overview of the various elements of running a business. Business is taught as an academic subject at high school level in many countries, including:
Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...
,
Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mo ...
,
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...
,
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
,
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
,
Ireland Ireland ( ; ga, Éire ; Ulster-Scots: ) is an island in the North Atlantic Ocean, in north-western Europe. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the s ...
, Lesotho, Nepal,
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island coun ...
,
Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
,
Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...
,
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring coun ...
,
Sri Lanka Sri Lanka (, ; si, ශ්‍රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...
, Zimbabwe,
Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the List of South American countries by area, second-largest ...
,
Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic countries, Nordic c ...
,
Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...
,
Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federal constitutional monarchy consists of thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Mal ...
and the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ...
. Many school systems (additionally) examine accounting and economics as separate subjects; these offering a more technical orientation than the course in general business. Business mathematics may be included under business studies, or as a part of the mathematics syllabus.


Undergraduate education

At the
university A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United Stat ...
level, students have the opportunity to take undergraduate degrees, usually a bachelor's degree, in business and management. Specific curricula and degree-granting procedures differ by program and by region. In general though, the program will comprise either preparation for management and general business, or a detailed - more academic - focus on a specific area. Regardless, all will typically include basic selections such as Accounting, Marketing, Finance, Operations Management, and Economics for business. Examples of these concentrations, and some topics typically covered, are aside. Management-directed programs are designed to give a broad knowledge of the functional areas of a company, and their interconnection, and also to develop the student's practical managerial skills, communication skills and business decision-making capability. These programs thus incorporate training and practical experience, in the form of case projects, presentations, internships, industrial visits, and interaction with experts from the industry. Subject specific programs, on the other hand, focus on a particular area, and are often more weighted towards theory. Even in these cases, however, additional to their major, students are exposed to general business principles, taking initial courses in accounting/finance, human resources, statistics, marketing, economics, and information systems. Regarding, "tagged degrees" however, see below. Degrees offered here include: * The Bachelor of Business Administration (BBA) degree is awarded to students who complete three to four years of full-time study in business administration. The degree often, though not always, requires a major in a specific field such as accounting, finance, HRM/personnel, marketing,
management Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activitie ...
, management information systems,
real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...
,
strategic management In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessme ...
, or others. Similar programs include the
Bachelor of Science in Business Administration Bachelor of Business Administration (BBA) is a bachelor's degree in business administration awarded by colleges and universities after completion of undergraduate study in the fundamentals of business administration and usually including advanced ...
(BSBA), a quantitative variant on the BBA, Bachelor of Science in Business and Bachelor of Administrative Studies degrees. The Bachelor of Public Administration (BPA) is an undergraduate degree in
public administration Public Administration (a form of governance) or Public Policy and Administration (an academic discipline) is the implementation of public policy, administration of government establishment ( public governance), management of non-profit es ...
. The Bachelor of Business Management/ Bachelor of Management Studies are similar to the BBA, but with a stronger emphasis on leadership and management skills. * The Bachelor of International Business Economics (BIBE) degree is awarded to students who complete four years of full-time study in business administration. In the last 2 years students must choose a specific field (such as the ones mentioned in the BBA). This degree is taught only in English and its aim is to enable students to work abroad and be prepared to manage large, multinational firms. It is compulsory to study abroad for at least 6 months. This degree appeared with the Bologna Process in Europe and is taught in universities like the
Pompeu Fabra University Pompeu Fabra University ( ca, Universitat Pompeu Fabra, UPF, ; es, link=no, Universidad Pompeu Fabra) is a public university located in the city of Barcelona, Catalonia in Spain. The university was created by the Autonomous Government of Ca ...
. * The Bachelor of Commerce (B.Com., or B.Comm; Bachelor of Commerce and Administration (BCA) is an alternate title) is, likewise, an undergraduate degree in general
business management Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of managemen ...
, although it is more theory-based and usually incorporates an academic major. The distinction between the B.Comm and the BBA, then, is often that the latter specifically applies theories to real-life business situations, while the former concentrates more broadly on a wide range of ideas and concepts in
commerce Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, natio ...
and related subjects. * The
Bachelor of Business A Bachelor of Business (BBus, BBus (Major)) is a three to four year undergraduate degree in the field of business offered by traditional and newer universities from the post-Dawkins era in Australia, New Zealand and Ireland. It is similar in fo ...
(B.Bus or B.Bus (Major)) degree is an undergraduate degree in general business management offered by universities in Australia, Ireland and New Zealand. Similar in nature to the Bachelor of Commerce degree, Bachelor of Business degrees are often awarded at technology-focused universities in accordance with the Dawkins review (1986) of the Australian higher education sector. At many Australian universities, a Bachelor of Business degree enables graduates to undertake greater specialty in their chosen academic major as compared to a general BBA degree. * The
Bachelor of Management and Organizational Studies A bachelor is a man who is not and has never been married.Bachelors are, in Pitt & al.'s phrasing, "men who live independently, outside of their parents' home and other institutional settings, who are neither married nor cohabitating". (). Etymo ...
degree (BMOS in Canada) is a four-year undergraduate degree in business management. However, this degree teaches knowledge-based business and is as much theoretical as it is case-based. The BMOS degree especially emphasizes social sciences such as psychology, sociology, economics, etc. * The
Bachelor of Business Science The Bachelor of Business Science (BBusSci) is a four-year honours level degree providing for a scientifically based study of economic and management sciences, "premised on the application of quantitative methods". The degree is offered in South A ...
(B.Bus.Sc) degree is similar to the BCom. However, it is a four-year honors-level course with an increased focus on the major and covers management theory in further depth. Also, students taking this approach are able to major in various quantitative disciplines not (typically) available in the B.Comm or BBA; related to this—and similarly in distinction—''all'' B.Bus.Sc students require a full first-year
mathematics Mathematics is an area of knowledge that includes the topics of numbers, formulas and related structures, shapes and the spaces in which they are contained, and quantities and their changes. These topics are represented in modern mathematics ...
course, and in addition to this, courses in statistics. * The
Bachelor of Accountancy The Bachelor of Accountancy, also known as Bachelor of Accounting, is the principal academic degree in accountancy in several countries, and is often the only (undergraduate) degree recognised for subsequent practice as a professional accountant ...
(B.Acy or B.Acc or B. Accty) degree is a specialized degree in accountancy; it is often the principal (or only) undergraduate degree recognized for later professional practice. It is distinct from a BBA or B.Comm with a major in accountancy in that the entire program is focused on accountancy, while other topics are supplementary. It is also known as Bachelor of Accounting, Bachelor of Accounting Science, or Bachelor of Comptrolling (B.Acc.Sci or B.Compt). * The Bachelor of Economics (B.Ec, B.Econ, B.Econ.Sc) degree is similarly a specialized degree in the field of economics. Courses may last anywhere from three years to six years and are similarly more theoretical and mathematical than the general BBA or B.Comm with a major in economics (often substantially so). Economics is not a business discipline ''per se'' but a social science, and in the US economics degrees are therefore offered through liberal arts colleges. A specialized program is often available within other degrees, such as the BA(Econ), B.Sc(Econ), B.Soc.Sc(Econ), B.Com(Econ) or BBA(Econ). * There are various other specialized business degrees such as the
Bachelor of Finance and Banking A bachelor is a man who is not and has never been married.Bachelors are, in Richard Pitt, Pitt & al.'s phrasing, "men who live independently, outside of their parents' home and other institutional settings, who are neither married nor cohabitating ...
. A further example is the
Bachelor of Arts in Organizational Management A bachelor is a man who is not and has never been married.Bachelors are, in Richard Pitt, Pitt & al.'s phrasing, "men who live independently, outside of their parents' home and other institutional settings, who are neither married nor cohabitating ...
(BAOM) degree, which is awarded to students who complete a four-year course of study in the field. The core functions of this program are the teaching of organizational functions, communication, group behavior, decision-making, human resources management, ethics, and to develop and deploy in the students effective skills in management and leadership. Also offered are the Bachelor of Science in Business Education (BSBE), an undergraduate degree in
the teaching of business ''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the ...
and the Bachelor of Business Teacher Education (BBTE), a variant on the BSBE. * Similar are the discipline-specific tagged degrees, such as the BS / BA in Finance, or in Marketing, or in Human Resources. Here, analogous to the B.Econ above, a high percentage of the coursework focuses on the specialization, with required courses in general business and other cognate topics; further, the
distribution requirements In education, a curriculum (; : curricula or curriculums) is broadly defined as the totality of student experiences that occur in the educational process. The term often refers specifically to a planned sequence of instruction, or to a view ...
may similarly be those of the general Arts or Sciences program, as opposed to business oriented.


Postgraduate education

At the graduate school level, students seek a variety of master's degrees, either in
general management A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of ...
–very commonly the MBA–or in a specific area, such as marketing or finance. A further distinction is that students pursuing postgraduate degrees often have some business experience, although this is not always a program requirement. Corresponding to both of these, graduate degrees in business and management are generally of two types: On the one hand, programs such as the Master of Science (M.Sc.) or Arts (MA) or Commerce (M.Com.) in General Management (sometimes also called Master in Management, or MIM) usually do not require professional experience. (Often the M.Sc. in Management is for graduates with a first academic degree in a social science, while the MA in Management is for other backgrounds. The Master of Engineering Management, MEM, is aimed at graduates with an engineering background.) On the other hand, the Master of Business Administration (MBA) requires a minimum of two to three years of professional experience and is open for graduates from any field. A related distinction: the M.Sc. in Management is more specialized than an MBA, and is more suited for academic research, while the MBA is more industry- and management-focused. As regards degree structure, postgraduate business programs are, in general, designed such that students gain exposure to theory and practice alike; the mix, though, will differ by degree and by school, as discussed. Learning is through lectures, case studies, and often team projects ("syndicate" work). The theory is covered in the classroom setting by academic faculty. Particularly in the MBA, the theory is then reinforced, and revisited, also in the classroom setting, through the
case method The case method is a teaching approach that uses decision-forcing cases to put students in the role of people who were faced with difficult decisions at some point in the past. It developed during the course of the twentieth-century from its origin ...
, placing the student in the role of the decision maker, "complete with the constraints and incomplete information found in real business issues." Practical learning often comprises consulting projects with real clients, or at least addressing an actual case, and is often undertaken in teams. The practical elements (as well as the case studies) may involve external practitioners, and sometimes executives, supporting the teaching from academic faculty. (See and § Other approaches.) One of the challenges for business academics is demonstrating that their curriculum is relevant to those who want to become managers. Degrees offered include: * Master of Accountancy/ Master of Professional Accountancy (M.Acc, M.Acy/MPA or M.P.Acc), a postgraduate degree in accounting * Master of Bioscience Enterprise (M.Bio.Ent), focused on the commercialisation of biotechnology * Master of Business Administration (MBA), a
master's degree A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.
in Business Administration * Master of Business Communication (MBC), * Master of Business and Management (MBM), focused on generalist managerial and leadership skills; often intended for students beginning their careers * Master of Business Education (MBE), focusing on teaching business teacher education * Master of Business Engineering (MBE), focused on the design and management of enterprises *
Master of Business A Master of Business (MBus) or Master of Business Studies (MBS) is an academic degree refers to a qualification in the degree of master that can be obtained by students of recognized universities and colleges who complete the relevant approved po ...
(M.Bus) and Master of Commerce (M.Com. or M.Comm), focused on a particular area of business or economics; often theory weighted *Master of Computer Information Systems (MCIS), professional graduate degree focused on business technology solutions * Master of Economics (M.Econ/M.Ec), theory oriented, but often available as a more practical "applied" degree, where students are trained re data-driven business analytics and decision support *
Master of Engineering Management Master of Engineering Management (MEM) (or Master of Science in Engineering Management (MSEM)) is a professional master's degree that bridges the gap between the field of engineering or technology and the field of business management. Engineering ...
(MEM), aimed at graduates with an engineering background *
Master of Enterprise The Master of Enterprise (M.Ent.) degree is a master's degree originally developed and offered by the University of Manchester through the Manchester Science Enterprise Centre (MSEC). A number of other universities have included the MEnt in their ...
(M.Ent), multi-disciplinary; entrepreneurship combined with a specific discipline * Master of Science in Finance / Master of Applied Finance (M.Fin); training in financial management and corporate finance, as well as the more specific financial modelling and risk management * Master of Health Administration (MHA) * Master of International Business (MIB), focused on International Business * Master of Management (MM), focused on leadership coupled with interrelated management issues * Master of Management: Co-operatives and Credit Unions, a post-graduate degree for co-operative and credit union managers * Master of Marketing Research (MMR) a postgraduate degree focusing on research in the field of marketing * Master of Nonprofit Organizations (MNO or MNPO), the postgraduate degree for philanthropy and voluntary sector professionals * Master of Project Management (MSPM or MPM) * Master of Public Administration (MPA) * Master of Real Estate (M.Sc.RE) *
Master of Science in Business Administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
(MSBA), advanced training in a particular area of business administration *Master of Science in Business Administration in Computer Information Systems (MSBA-CIS), advanced training in business technology * Master of Science in Management (MSM), management focused, targeting recent graduates * Professional Science Masters (PSM), interdisciplinary; advanced training in science or mathematics, with professional skills required for a commercial context. *
Green MBA The traditional MBA degree (Masters in Business Administration) requires coursework and other study of business from a primarily financial standpoint, with some attention to management of people, to conventional economic theory, and to business et ...
, often offered as a "Master in Sustainable Business" (MSB)


Doctoral

At the doctoral level, all degrees offered are research focused, although they do differ as regards their relative weightings of theory versus practice. Typically, the DBA, DPA, DHA and D.Mgt emphasize managerial practice alongside research; relatedly, the theses for these degrees will often focus on applied research. The other doctorates here are (exclusively) theory and research based. Entrance is usually on the basis of a relevant master's degree, and for practice-weighted degrees, relevant managerial experience. For the topic areas applicable to the thesis component, see . Degrees offered here include: * Doctor of Business Administration (DBA) * Doctor of Commerce (D.Com.) * Doctor of Health Administration (D.H.A.) *
Doctor of Management The Doctor of Management (DM or DMgt) is an applied research doctorate (or professional practice doctorate) with a degree focus in management, leadership, and organizational topics."
(D.M., D.Mgt) * Doctor of Public Administration (DPA) * PhD in Management (Ph.D.) * Ph.D/M.B.A ( double degree) * Fellow Program in Management (FPM) *
Engineering Doctorate Engineering is the use of scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more speciali ...
(EngD), A professional doctorate involving a management thesis and taught MBA courses in the UK * Doctor of Education (EdD), A professional doctorate with concentrations in business and education, including Management, Marketing, Accounting, International Business


Internships

An internship is when a person works for a company for a temporary amount of time, typically for a few weeks over the summer or winter. By participating in the program, a student will be able to act in the everyday operation of the industry. They give the participants real-world experience in their desired career. Internships also give the company it is at an idea of whether or not the participant would be a good fit as a full-time employee. Many people complete internships while they are in school, whether that be secondary or post-secondary education. These are very common, and have started to be a requirement, in finding a job in the business world.  Although internships are by no means a new form of educating a student, the amount that have completed a program has only continued to grow. In 2008 about one out of every two graduating college students had included a completed internship in their job applications. There is significant evidence that has indicated that completing and internship develops skills essential to success in the business world as well as everyday life. The skills that are mainly developed while participating in an internship program includes interpersonal and social skills, as well as quantitative or other technical skills. Many internships use group projects as well in order to develop teamwork and leadership skills. All of these skills are vital to a business and are difficult to be taught in a class room. These skills are very valuable to a company and the ability to train these skills is making internships extremely valuable in business.


Career Development

Many programs within a business education have a main focus on the career development of their students or audience. They want to prepare them for entering the labor market and ensure they possess the best knowledge and skills of the industry possible. The aid in these programs can range from the guidance in career choices to solidifying a student's first full-time job. The idea of curriculum is typically integrated straight in to the curriculum of one's business education. This allows the students to focus on both at the same time while also understanding the importance of thinking of their life after school has on their life. Additionally, it allows students to think more about their goals and interests to determine if their current path of academics is what they wish to continue. Many faculty members will typically reach out to students and attempt to connect to graduates. This connects the current students with alumni in their field, allowing them to hear from people in their career path who were in their place not too long ago. This information lets students understand what is necessary to do in order to succeed in their desired career. There are instances however, where the effort of career development while still obtaining a degree does not yield a desire result. Research of business undergraduates state that only about 60% obtain a full-time job by graduation and of that percentage, only 40% have one that is consistent with their major.


See also

* Business game * Business school * Entrepreneurship education * Executive education * GMAT * Training simulation *Related education articles: ** Accounting articles **
Economics articles Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
** Finance articles ** Management articles ** Investment articles


References


External links

* {{DEFAULTSORT:Business Education