Technological advancements and emerging industries are rapidly changing the career landscape, creating new positions and, at the same time, reducing the necessity of a lot of professions. According to Forrester, artificial intelligence will eliminate 2.4 million jobs by 2030. However, skilled managers are always in great demand. LinkedIn states that management is topping the list of skills the companies are looking for today. Emotional intelligence, effective governance, and communication, known as soft skills, remain highly valuable, regardless of the AI revolution or any other technological changes. Besides, new technologies offer new roles and opportunities to talented managers.
What careers can you build with a business management degree?
A degree in business management is widely acknowledged and accepted as a valuable qualification for numerous career roles. These include positions such as nonprofit management, business analysis, banking, marketing analysis, and management consulting. Business management graduates possess the flexibility to pursue careers across diverse industries, ranging from the military to the technology sector and consultancy. There is a strong demand for graduates with business degrees.
Business management is a broad notion that embraces many areas of specialization. These fields include operations management, supply chain management, including logistics careers, project management, retail management, and e-commerce. These specializations are also closely linked to various other business disciplines, such as accounting, finance, and marketing.
What are the best career opportunities for business managers today?
In the realm of innovation, a degree in business management can help you build an exciting career. Here are a few areas where graduates in this specialization can build a brilliant career.
In recent years, the world of commerce has undergone a profound transformation, with a significant shift toward online shopping and e-commerce. This market is expected to reach $7.5 trillion in 2025. As a result, the field of e-commerce and online retail management has witnessed remarkable growth, offering a wide range of exciting career opportunities for business professionals.
E-commerce managers are responsible for overseeing the entire online sales operation of a business. They manage e-commerce websites which can be based on different business models: wholesaling, dropshipping suppliers, print-on-demand, white and private label, etc. As part of their role, they optimize user experience, analyze online sales
data, implement subscription offerings, and develop strategies to increase online revenue. They play a crucial role in ensuring the success of an organization's online presence.
Social media has seamlessly integrated into our daily existence, reshaping our methods of connection, communication, and information exchange. For businesses, social media represents a unique channel to reach the target audience and boost brand recognition and growth. They get to manage the brand identity, create a business logo design, and deal with marketing. However, only professionals can successfully leverage the influence of social media by creating well-defined strategies. And this is where business managers come into play.
Within a business's marketing realm, a social media manager plays an indispensable role. They are tasked with the creation, administration, and distribution of content across a brand's social media platforms. In practical terms, this entails crafting written, video, and visual materials, upkeep of a content schedule, team collaboration coordination, active participation within online social communities, crafting engagement and outreach enhancement strategies, and a host of other responsibilities.
Telemedicine services are developing by leaps and bounds, causing a groundbreaking influence within the healthcare sector. In recent years, it has fully reshaped the way patients access medical care and reformed healthcare administration. Telemedicine uses telecommunications technology to provide remote healthcare services and facilitate virtual connections between patients and healthcare providers. New healthcare startups appear every day, increasing opportunities in the healthcare sphere.
Management graduates can enjoy a variety of careers in this sector, from compliance manager positions that are responsible for adhering to all relevant healthcare regulations and standards to operations managers that focus on day-to-day performance. Other managing jobs relate to scheduling, patient data security, coordination of telehealth consultations and business expansion. Business managers in telehealth should have a deep understanding of the regulation of this sphere, technology trends and patient needs.
Blockchain and cryptocurrency
Blockchain technology penetrates deeper into various industries. The organizations enhance their business operations by implementing solutions built on blockchain. The need for blockchain experts is prevalent across various sectors, including banking, financial services, healthcare, supply chain, gaming, real estate, and more. Business managers who understand blockchain's potential and can navigate the regulatory landscape will find exciting opportunities.
To achieve successful blockchain initiatives within an organization, companies must engage blockchain managers who can find and apply blockchain solutions tailored to their needs. These professionals bear the ultimate responsibility for the outcome of the project. Blockchain managers craft strategies, oversee and execute projects to attain the specific objectives set by the company. In essence, their role involves the management and facilitation of blockchain projects.
With the growing importance of online presence, privacy and security are becoming critical. Companies are more and more concerned with the protection of their digital assets and sensitive information. Business managers in the cybersecurity field play a pivotal role in developing and implementing security strategies. Security program managers coordinate and oversee various security projects and initiatives within an organization. They ensure that projects are executed successfully, on time, and within budget. It also involves the management of cybersecurity teams.
Business managers with expertise in cybersecurity can work as consultants or advisors. Offering strategic guidance to organizations that want to improve their security. To build a career in this field, managers should have a strong understanding of cybersecurity principles, regulations and emerging threats. They should be able to recognize vulnerabilities and recommend security solutions.
Renewable energy and green business
Businesses that focus on sustainability, eco-friendly products, and green practices will continue to grow. Industries related to solar, wind, geothermal, and hydropower will undoubtedly experience continued expansion in the coming decades, eventually becoming primary sources of power generation. hydropower, solar and wind, among others. Today, 30% of the world's electrical power is generated from renewable sources, including hydropower, solar energy, wind power, and more. Businesses that focus on sustainability, eco-friendly products, and green practices will continue to grow, offering enough opportunities to build a thriving career.
Remote work organization
The COVID-19 pandemic accelerated the shift towards remote work. As businesses adapt to hybrid work environments, this trend continues to evolve, creating a lot of career opportunities for managers in this field. Companies need not only tools and services to facilitate and assist distributed teams. They also need skilled managers to oversee the remote employees and organize their effective collaboration.
Business management graduates can fill a variety of positions that relate to the coordination and optimization of remote workflows and processes. The positions range from virtual team leaders and remote project managers to customer support and quality assurance managers. Successful candidates for this niche should possess strong communication, have experience with technology like project management apps, and possess leadership skills. Besides, they should follow remote work trends and best practices to succeed.
Personal finance and accounting services
Accounting and bookkeeping services remain in great demand. With the increasing number of individuals and startups, the need for bookkeeping services continues to surge. Individuals become more financially conscious, and opportunities in personal finance management, robo-advisors, and wealth management services may expand, offering attractive business management opportunities.
The range of personalized services is huge. It can be a financial advisor who helps clients with budgeting, retirement planning, investment strategies and asset management. Managers can pursue jobs as financial planners or tax consultants, helping individuals and families maintain their financial well-being. Sometimes, additional certification like CPA, CFP or CFA is needed for the candidates to successfully match these positions.
Online learning is the fastest-growing market in the educational industry. And the recent pandemic only boosted its development. It is estimated that since 2020, this market has increased by 900%. This stunning number not only illustrates the escalating attractiveness of this sphere but also signals a huge business potential. This digital transformation of education opens up many career opportunities suited for business managers.
Online learning encompasses a wide range of education platforms, from online schools and universities to online training resources. Managers can handle issues related to course scheduling, nutrition courses technology infrastructure, student support and mentorship services. They can also be involved in marketing strategy creation, advertising campaigns and optimization of enrollment processes. Moreover, some business managers may choose to start their own online learning startups, launching and selling online courses, tutoring services or educational technology solutions.
Predicting specific business management opportunities for 2024 is challenging, as it depends on a variety of factors, including economic conditions, technological advancements, and market trends. However, the above-mentioned areas show continuous growth and will definitely offer exciting opportunities for business management in the near future. However, specific opportunities in business management greatly depend on the seekers’ location, industry, and personal interests and expertise. Staying informed about emerging trends, networking, and continuously updating skills are crucial for success in a business management career.