A business degree easily ranks among the most valuable and prestigious qualifications a person can have today. The interesting thing about a business degree is that although it is a singular qualification, it is also a marriage of several relevant courses which could also be degrees in themselves if pursued independently. These independent courses need to be studied together for a business degree to come to fruition. They are core components of business administration and are so inevitably interconnected that the field would not exist without them.
Economics is at the heart of business studies. The success of any business or business professional is the ability to understand the innings and application of economics. Economics is a field of social science which deals with how people create, perceive, and interact with value and also how that defines and shapes society. It focuses on the production, distribution, and consumption of goods and services, the importance of demand and supply, and also how wealth is transferred within and between members of society. There is no business degree without economics. There are several online college courses available that deal with the varying niches of this important field of study. A simple search through sites like Straightliner will provide a plethora of affordable options for business students.
As earlier stated, all the relevant courses in a business degree are interconnected. Closely tied to economics is marketing. As a course of study, marketing deals with the act of promoting and advertising a product with the sole aim of creating awareness about a product and or service to sell them. The sole purpose of creating and producing a product is to sell it and make a profit. Marketing gets the word out there by telling potential buyers about it, how it works and how it will improve their lives. This is also at the very heart of what business is all about. Thus, there is no business degree without a firm understanding and application of marketing.
Accounting And Finance.
Another course that must be included in the business degree package is accounting and finance. This course focuses on the important task of analyzing, tracking, recording, and reporting the monetary activities and transactions of a business. A business that does not keep track of its finances, both incoming and outgoing, is bound to crash sooner than later. A business degree holder is expected to understand the rudiments of finance and help the business run smoothly.
Human Resource Management.
Businesses do not operate by themselves and No matter the level of automation in use, there will always be a need for human employees. Human resource management deals with how to effectively plan, coordinate and manage the activities of employees within a company. The field teaches how to find the necessary balance between employee productivity and employee welfare to optimize and maximize the productivity of the business. HR is said to be the lifeblood of any company no matter the size. If it crashes, the company goes with it. This is why this field is hyper-relevant to the study of business, the course must be included.
Here are several other core courses that make up the parts of a business degree such as management and communications. These including the ones listed above are the kinds of courses that must be taken by business students whether in traditional educational institutions or online. They are the heart and soul of the business world with neither being more relevant than the other.