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What is Business Management?

Are you considering enrolling in a business management degree program in Nebraska? Business is a highly popular academic subject throughout all of the United States. Because the content covered can be applied to many industries, those who choose this and related majors tend to qualify for a wide variety of professions across numerous fields. As a result, graduates often have good employment prospects and can expect to earn relatively competitive wages.

Every college and university is different, but most create business management programs that offer students opportunities to develop and hone skills in business, management, finance, leadership, and marketing. Aptitude in these areas is quite valuable as it can be utilized across numerous fields and applied to almost any workplace.

According to the U.S. Bureau of Labor Statistics, employment in management occupations is expected to increase by 9% from 2020 to 2030. This is about as fast as the average for all occupations and will account for an additional 906,800 new positions in the field. The majority of this growth is expected to be driven by the creation of new organizations and the expansion of existing ones.

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Online Business Management Education in Nebraska

Notably, some industries will experience more increases than others. Computer and information systems, finance, lodging, and social and community service are some of the fastest-growing industries. Employment for financial managers, for example, is projected to increase by 17% and medical and health service managers can expect to see a rise of 32%. Another relevant sector is business and financial occupations, which is projected to grow 8% by 2030.

Professional and business services is the fourth largest industry in Nebraska. It accounts for $11.5 billion in revenue each year. According to the U.S. Bureau of Labor Statistics, the state employed 51,640 people in business and financial operations in May of 2021. Those interested in this major should also realize, however, that the vast majority of organizations benefit from hiring individuals with knowledge and experience in business.

Additionally, Nebraska tends to pay professionals in business and financial occupations well. The annual mean wage for these positions in 2021 was $70,640, which is significantly higher than the national average of $56,310 for all occupations.

Most professionals in this field have some level of higher education. As a result, many colleges and universities in Nebraska offer business management degrees or related programs. While it’s possible to find academic opportunities throughout the nation, those who plan to work in the state should give strong preference to local institutions. There are a few reasons for this, including the fact that these schools often provide the most applicable instruction for the region. This is particularly relevant for professionals who plan to open their own businesses in the state and/or obtain various state credentials. Nebraskan schools will have the most familiarity with local laws and regulations, as well as the preferences of some of the top employers. Additionally, many colleges and universities have pre-established relationships with nearby companies and organizations to make it easier for their students to find internships and jobs.

Companies, agencies, or organizations typically hire business management to supervise their other employees and oversee various essential activities on a daily basis. This is an important role in almost every workplace, making jobs for qualified individuals in this field relatively common. It also often allows professionals to select employment that aligns with their personal interests and/or passions.

Daily tasks, expectations, and responsibilities can vary wildly for business managers based on a number of factors, including employer size and preference. Because specifics differ from company to company, it’s important to read job descriptions carefully before submitting applications. In most cases, however, these professionals take on responsibilities related to hiring, training, and evaluating workers, as well as developing and implementing budgets, preparing fiscal reports, and verifying policy compliance. They are also often in charge of ensuring that employees have easy access to all the resources needed to be productive and that overall financial goals are met.

While every business management program is unique, many colleges and universities strive to ensure graduates will be prepared for employment in various work environments. Particular focus is often placed on helping students develop important and relevant skills that will be useful regardless of profession such as analytics, leadership, and research.

Some common industries that hire individuals with this expertise include:

  • Sales
  • Finance
  • Marketing
  • Global Business
  • Entrepreneurship

Many business management professionals possess degrees of some kind. While the most common level of education attained is a bachelor’s, prospective students can choose from associate, master’s, and doctoral programs, as well. Some colleges and universities also offer professional certificates in business management and other related subjects.

It’s important to realize that the majority of employers often expect job candidates to have some level of higher education. Frequently, the minimum requirement is a bachelor’s degree, but this varies depending on the type of position and corresponding responsibilities. As every degree program has benefits and drawbacks, prospective students should base their selections on their ultimate academic and career goals.

Online Associate Degree in Business Management (AS)

Associate degrees in business management generally consist of 60 credit hours of coursework that can take full-time students two years to complete. While curriculum varies from institution to institution, most programs provide a mixture of general education and content-specific instruction. Students can expect to receive a basic introduction to various key topics in business including economics, accounting, and communication.

This type of degree is most appropriate for those who want to obtain entry-level administrative positions in the field as quickly as possible. Graduates often possess strong foundational knowledge in the field and may qualify for work as administrative assistants, executive assistants, food service managers, bookkeepers, office managers, human resources employees, and office clerks. Associate degrees can also help jumpstart further education, as students can transfer the credits earned from one institution to another. While every college and university is different, most admit associate degree graduates as juniors instead of freshmen.

Prospective students should realize that associate degrees in business management do not always satisfy employer education requirements. While entry-level positions may be available, this type of education is rarely sufficient for mid- to upper-level jobs. This is especially true of supervisory roles. Associate degrees are also unlikely to lead to as many professional advancement opportunities. As a result, most people working in business-related professions earn, at minimum, bachelor’s degrees.

Online Bachelor's Degree in Business Management (BS)

Bachelor’s degrees in business management generally consist of 120 credit hours of coursework that often takes full-time students approximately four years to complete. While program specifics vary, curriculums usually combine general education and major-specific content. Instruction and assignments are meant to help students develop a wide variety of relevant skills that can be utilized in almost any professional setting.

This type of degree is ideal for individuals seeking employment in the field. In fact, according to the U.S. Bureau of Labor Statistics, the majority of management occupations in the United States require candidates to have bachelor’s degrees. Graduates often qualify for a wide variety of entry-level positions, as well as some mid-level jobs. Some common employment opportunities include financial analyst, human resource specialist, and management consultant.

Alternatively, graduates can choose to pursue further education by enrolling in master’s degree programs. More education, especially when coupled with years of professional experience, can lead to faster promotion, more advanced supervisory positions, and higher pay. Graduate school candidates often require minimum grade point averages (GPAs) and to Graduate Record Examinations (GRE) scores.

Online Master's Degree in Business Management (MS)

Masters of business management generally consist of 30 to 60 credit hours of coursework that full-time students can complete within one to two years of study. Program specifics can vary significantly, but often focus solely on major content. Students can expect to further develop and hone the knowledge and skills necessary to be successful in the field. Instructional efforts are also likely to prepare enrollees for leadership roles.

This level of education is not always necessary, but can be extremely beneficial for graduates. Those with master’s degrees are more likely to obtain employment in high-level leadership positions, such as training and development managers, top executives, public relations and fundraising managers, human resource managers, information technology managers, financial managers, industrial production managers, and management analysts. These professionals are also highly competitive in the job market, especially when being considered for supervisory roles. Additionally, graduate degrees often result in faster promotions and higher earnings.

While business management is a viable graduate program option, some students choose to pursue master’s in business administration (MBA) with a concentration in their specialty, such as HR management or healthcare management. MBAs generally place greater emphasis on the technical aspects of planning and execution, but also help professionals qualify for supervisory positions.

Online PhD Degree in Business Management (PhD)

Doctorates of business administration (DBAs) and related PhD programs generally consist of between 90 and 120 credit hours that take full-time students four to seven years to complete. These are both terminal degrees, offering the highest level of education available in the field. Both of these options provide students with in-depth knowledge that can be applied to research, instruction, or leadership roles. Program specifics vary, but those enrolled should expect to complete independent research and written dissertations prior to graduation.

Both types of doctoral degree can lead to some of the best employment opportunities in the field. Graduates often find jobs as top executives, postsecondary business professors, postsecondary education administrators, and economists. Notably, however, the PhD in business is most appropriate for individuals interested in research and independent study, while the DBA is better suited for professionals seeking upper management and executive positions at companies or organizations.

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Become a Business Manager in Nebraska

The first step to becoming a business management professional in Nebraska is identifying your ultimate career goals. Knowing which profession and industry you are most interested in will make it significantly easier to select an appropriate academic program. As this field is expansive, however, making adjustments to your initial plans is often quite simple. Most programs begin by introducing students to general business concepts, with opportunities to select concentrations in specialty areas later.

Some of the most common options include:

  • Finance
  • Project Management
  • Human Resources
  • Nonprofit Management
  • Marketing
  • Global Business
  • Entrepreneurship

After obtaining the necessary degree(s), many business management professionals choose to pursue one or more certifications and/or licensures. Not only do these credentials show professional competence, but they also allow workers to become more specialized in particular facets of the field. In general, earning certifications improves employment prospects and increase salary potential. They are also particularly important when applying for new positions or competing for promotion. While these can be beneficial, not all jobs require them. Some employers do, however, expect candidates to obtain certain credentials prior to being hired.

One of the most popular credentials for business management professionals is the certified business manager (CBM) designation. The certification is offered through various institutions with specialized accreditation, as well as some MBA programs. Those who obtain this optional certification are perceived as possessing elite operational management skills that can be applied to most work settings.

Additionally, those who intend to start businesses in Nebraska will need to meet various expectations. The state requires that most new businesses are registered with the Nebraska Department of Revenue (DOR). Only companies without employees and that provide services may be exempt from this. It’s important to research regulations carefully before proceeding. Business owners will also need to apply for a Nebraska Identification Number. Both registration processes can be completed online.

Careers for Business Management Graduates

After earning a business management degree in Nebraska, you will be qualified to apply for a wide variety of professional employment opportunities.

Job expectations and salaries will vary, but some of the most common career options in the state include:

  • Sales Manager
  • Account Manager
  • Operations Manager
  • Benefits Specialist
  • Account Executive
  • Accounting Supervisor
  • Regional Manager for Services Company
  • Management Information System Specialist
  • C-Suite Executive
  • Non-Profit Manager
  • Business Analyst
  • Administrative Assistant
    Administrative assistants provide help to other professionals in the workplace. They may be responsible for a wide variety of obligations but most often they run errands, coordinate schedules, manage messages, and complete personal tasks for their supervisors. Other tasks can be assigned. It’s also common for these professionals to perform various secretarial duties such as accounting, data entry, billing, inventory, correspondence, and record-keeping. According to PayScale, administrative assistants make an average base hourly rate of $16.25, or approximately $40,150 per year.
  • Customer Service Associate
    Customer service associates are often the first point of contact for customers, answering questions and assisting with issues. These professionals frequently provide troubleshooting expertise and technical assistance over the phone, but may also meet with clients in person. According to PayScale, customer service associates make an average base hourly rate of $12.08, or approximately $42,150 per year.
  • Director of Operations
    Directors of operations manage employee productivity. They ensure workers have everything necessary in order to maintain production. This often means making needed purchases and coordinating closely with vendors and sellers. These professionals also regularly utilize good negotiation skills. According to PayScale, directors of operations make an average base salary of $93,000 per year.
  • Financial Analyst
    Financial analysts study and remain updated on marketplace trends, demographics, and microeconomic factors that could impact their employers. They often maintain a thorough understanding of company resource investments and provide financial projections for growth and decline over time. These professionals offer advice regarding bonds and splitting stocks. According to PayScale, financial analysts make an average base salary of $61,950 per year.
  • Human Resources Manager
    Human resources managers oversee employee policies, procedures, and compliance regulations. It’s their responsibility to verify that all employment activities follow local, state, and federal laws. These professionals also often manage various employee benefits and initiative programs. According to PayScale, human resources managers make an average base salary of $68,750 per year.
  • Marketing Manager
    Marketing managers create advertising or merchandising sales campaigns for single products, entire brands, or companies. They often collaborate with product managers, monitor program performance, and develop market research studies. According to PayScale, marketing managers make an average base salary of $66,600 per year.
  • Project Manager
    Project managers oversee the projects they are assigned. They often dispense important information to team members involved in the process, as well as manage goals and completion timelines. These professionals are also responsible for managing related budgets and resources. Additionally, they may coordinate, document, and assign tasks to others as needed. According to PayScale, project managers make an average base salary of $75,000 per year.

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