The Core of an Online Business Degree

April 30th, 2008 • Filed Under

Businesses are complex and subject to many dynamics in the modern world today. This is true no matter if they are large or small. A quality online business degree program will make sure you have the knowledge in the areas it takes to succeed in business. Let’s take a look at some of the core classes you can expect from an online business degree:

An online business degree will teach you operations management. Operations management deals with the processes required to produce and distribute the product or service of a business. It also deals with the efficiency of those processes. Poorly-managed operations can be quite costly for a business. For example, part of operations management deals with purchases of raw materials to produce finished goods. If a business orders too many raw materials without the throughput to convert them to finished goods then money is tied up in an inventory that cannot be sold in its raw form. In your online business degree program, you will learn how to analyze these processes.

Your degree program will teach you the dynamics of employees in your business. Your online business degree will open opportunities in management and that inevitably deals with managing people. Some online business degree programs are specifically designed for the area of human resource management but all of them have coursework in some topic of managing the employee. Courses in human resource management that apply towards your online business degree tend to focus heavily on the psychology of managing employees. If your online business degree is concentrated heavily in human resource management, it will probably cover topics like the hiring, training, retention, and firing of employees. You might find that there will be studies in labor and safety law. And, all this information that you get from your online business degree will be helpful when you hire your first employee for your small business.

Your online business degree program can teach you entrepreneurship. Probably the most risky yet most exciting area of business is that of starting a new one. This is what entrepreneurs do. They thrive on the risk involved in pitching a new business idea. Of course the entrepreneur likes to take risk but also likes to be successful at it. There are online business degrees that cover the topics involved with entrepreneurship teaching you what to plan for and what to look out for.

You will get solid accounting skills in your online business degree program. No matter what your concentration within your online business degree program, accounting is core to all of them. Even if you are not going to pursue an accounting career, you have to know how accounting affects a business. If you venture out on your own and start your own business, you will see real fast how important the accounting training you received in your online business degree program was. A business must track its cash flow in order to stay solvent, pay salaries, do financial reporting, and pay taxes.

An understanding of economics is crucial to business success. If you are in business and do not understand the dynamics involved with supply and demand, you will have a difficult time pricing your products and services. Online business degree programs usually have courses in microeconomics and macroeconomics dealing with the study of consumer demand and how a business can read that demand.

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