What is Business Management?
Business management, often referred to as “business and management”, works on the principles of organisation, analysis and planning. As these are a general set of principles, they apply to a wide range of career options. Business management courses abroad are focused at helping students acquire skills that can be implemented in a global setting.

Study business Management degree Abroad

  • If you plan to study business management abroad, you will have the opportunity to pursue the course in a global and culturally-diverse environment.

  • Pursuing one of the business management courses abroad from a reputed university offers you the opportunity to avail high-quality education. One of the major factors contributing to students’ choice of studying abroad is the excellent team of faculty that universities abroad offer.

  • Studying abroad provides you with the opportunity to interact with like-minded, multicultural people. This plays a crucial role in helping you form a strong professional network, which can further help in professional growth.

  • If you study business management abroad, the chances of you getting a job in an internationally-recognised organisation is high. Studying abroad helps you to apply your theoretical and practical knowledge to business situations in a global sphere.

Business management degree vs. Business administration degree

  • Course Structure: While a degree in business management and business administration entail the same core subjects, business management courses are focused on building a sound management foundation, wherein students can apply their skills to a wide range of operations. On the other hand, a business administration degree equips students with specialized skills to help them take on specific roles based on the specialisation they pursue 9for example: marketing, sales, etc.).

  • Career prospects: Business administration graduates are more likely to assume entry-level jobs. However, more the experience they have working in the field, better the opportunities and positions available. For business management degree careers, professionals are trained during their course of study to take on managerial positions in organisations, especially if they have graduated from a reputed institution.

Recommended business management degrees

  • Human Resources Management: In a human resources management degree, students will get a deeper understanding of concepts such as staffing, performance management, human resource development and compensation and benefits. Since human resource is the most important asset of an organisation, human resource management professionals are in high demand.

  • International Business Management: An international business management course aims at equipping students with skills related to international operations, human resource management, international marketing and finance.

  • Marketing Management: A degree in marketing management covers a wide range of subject areas such as – sales management, consumer behaviour, international marketing, social media marketing, direct marketing, cooperative marketing, strategic marketing management, etc. However, if you want to specialize in a particular sphere, you must ensure that you enrol for a course that is dedicated to a specific marketing technique.

  • Healthcare Management: Healthcare management courses are aimed at helping students develop skills that can be used to address the operational needs of a healthcare facility. The common subject areas in this course are – managerial economics, marketing management, financial management, quality management, strategic management, human resource management, etc.

  • Entrepreneurship Management: A degree in entrepreneurship management helps students understand the underlying concepts of entrepreneurship. Students get an in-depth understanding of financial planning and control, operational functions of a small business, strategic market planning, business plan creation and product development.

Pre-requisites for studying business management abroad

The entry requirements for a business management degree may vary depending on the university, country and degree level. However, the basic criteria for pursuing a postgraduate business management degree is as follows:

  • Bachelor’s degree, preferably in the relevant field;

  • Entrance test scores;

  • Language-proficiency test score;

  • Relevant work experience is preferred.

Scholarship/funding opportunities

  • University scholarships: More and more universities today are offering scholarships to students. Ranging from student-specific scholarships to merit-based scholarships, the decision of awarding these scholarships lies with the university, who carefully screen the applications before making the call.

  • Bank-approved education loans: Many private and government-owned banks offer education loans to students who want to study abroad on the basis of their academic merit and current financial status. The only downside of opting for funding from banks is the high interest rates.

  • Non-banking Financial Corporations (NBFCs): There are NBFCs in India that offer education loans to students who want to study abroad at affordable interest rates. Some of the NBFCs are Credila, Avanse, Auxilo, Incred, etc.

Career opportunities after pursuing business management degree

  • Sales Manager: The job responsibility of a sales manager includes setting sales goals, supervising distribution of goods, devising training programs for sales subordinates and ensuring that sales goals are met efficiently.

  • Business Analyst: As a business analyst, you will be required to contribute in the creation of business analysis, budget management, forecasting and planning. Moreover, you will be responsible for outlining the business requirements and reporting them.

  • Account Manager: The responsibilities of an account manager include understanding the customer needs and delivering results based on that, maintaining the organisation’s relationship with existing clients and building relationship with potential clients.