How to Start Your Own Business: What's Behind a Business Administration Degree?
November 11, 2014
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Have you been wondering how to start your own business? Since small businesses are the backbone of the American economy, you may be thinking about pursuing a degree in business administration to learn more about economics, the free market and running a business. While many people start successful businesses without a business degree, some students believe the lessons and tools such courses offer can help inspire new ways of thinking about a potential career in business. As such, Sanford-Brown has announced a new business administration program that is being offered at its Mendota Heights, Tampa, Brooklyn Center and Jacksonville campuses.
What Can a Background in Business Administration Provide?
Most courses cover topics such as the history of business, business ethics, macroeconomics, innovation practices, funding and finance, sales, marketing and business planning and development. These topics will allow you to get a working knowledge of the various aspects of running a business.
- History of Business: This topic generally covers the evolution of business and enterprise practice leading up to and since the Industrial Revolution.
- Ethics: Business ethics describes the ethical and moral issues that arise in business environments.
- Macroeconomics: Distinguished from microeconomics, macroeconomics covers the economy as a whole rather than individual markets. Topics can include a nation's income, international trade, finance, unemployment and inflation.
- Innovation: Topics include brainstorming, critical thinking, problem-solving, troubleshooting and techniques in research and development.
- Funding and Finance: This subject can cover how business plans are financed by a variety of channels, how to work with investors and how to find nontraditional means of financing businesses.
- Sales and Marketing: This topic covers how to grow a business or sell a product for a profit as well as various marketing strategies and techniques.
- Business Planning: This topic covers how to develop a successful business plan that would structure a business function and potentially attract investors for funding.
Starting Your Own Business
Beyond these topics, a degree in business administration can be a helpful part of learning how to start your own business. These degrees often help students decide what they want to do, how to develop a plan and how to effectively communicate to managers, investors and employees to help them realize their business goals.
By preparing students for the day-to-day challenges in various business fields, degrees in business administration have remained a steady and popular focus of study in American academics over the past several decades. In fact, according to the National Center for Education Statistics, business administration is the most popular post-secondary major in the United States, while the greatest number of bachelor's degrees is conferred in business fields.
While business administration degrees are not required to start your own business, they can provide a strategic advantage and get you ready to enter the business world.
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