Business management degrees prepare graduates to use critical analysis and problem solving skills to solve complex organizational problems facing local, national and global companies. These programs teach organizational management, focusing on the legal issues facing businesses, information systems, professional communication, macroeconomics, marketing and strategic planning. Students also engage in applied projects and internships so they are prepared to put these ideas into practice once they graduate.
Even though a business management degree is not a technical degree, students must have a solid background in mathematics up to college calculus. Some business degree programs offer courses like calculus for business or algebra with calculus for business, which cover the areas of calculus necessary for upper division business courses. Topics covered in these classes generally include differential calculus with polynomials, exponential and logarithmic functions, integral calculus, probability applications and optimization of functions.
Statistical analysis is a core element of solving modern business problems and is generally a required course in business management programs. Statistics courses prepare students to understand, analyze and perform statistical research, which informs the individual business and the larger economic environment. Many business management programs offer a statistics course tailored for business majors covering topics like statistical inference, probability, the use of statistical tools in management and descriptive statistics.
Financial analysis is an applied form of mathematics that is essential to the bachelor’s degree in business management. A substantial portion of a business manager’s responsibilities include financial analysis and planning, which generally require the application of mathematical and statistical principles and tools. Business management programs offer a number of courses in finance, including principles of business finance and managerial finance. These courses cover topics like the time value of money, how to value assets like stocks and bonds, alternative financing and the analysis and planning of capital structure.
Business management graduates work in businesses that operate in a global economic environment and make decisions based upon economic analysis of complex systems and markets. Economics uses mathematically derived theories and statistical methods to analyze and predict the behavior of economies, governments and businesses. Degree programs in business management offer economics courses like microeconomics and macroeconomics, as well as managerial economics. These courses involve the study of national level analysis of income and employment trends, monetary policy, problems of market failure, national income accounting and inflation.
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