A Look at the Future of Business Administration
Welcome to the third installment in our blog series taking a look at the future of some the occupational fields you’ll find here at Argosy University. Today, we’re going to be looking at some trends and career outlooks in Business.
Business is a very broad area, as it touches every aspect of our lives and, like so many other areas, it is constantly evolving. As technology, world events, new regulations and other important developments happen the world of business reacts and adapts to new realities.
At Argosy University, we talk about what type of business professional might find success in this environment:
“Business professionals who offer leadership and make personal connections during times of calm and crisis can create an environment of success in any market. In an increasingly competitive, complex, and unpredictable business climate, it's those individuals who can develop relationships, manage change, and focus on solutions to real-world problems who will be coveted by non-profit organizations, large and small corporations, and public administration agencies alike.”
When you pursue a career in business, there are a wide range of areas that you could focus on. From accounting to finance to human resources management, people interested in business have a lot of options to choose from. At Argosy University, for example, our Bachelor of Science in Business Administration offers 7 specializations:
- Healthcare Management
- Human Resource Management
- International Business
- Organizational Management
So, what is the area that’s right for you and what does the future hold? There are a lot of sources for this type of information, but a great resource is the Bureau of Labor Statistics (BLS).
Let’s just take a look at some of these fields and where they’re expected to be heading:
“Employment of accountants and auditors is expected to grow by 22 percent between 2008 and 2018, which is much faster than the average for all occupations. This occupation will have a very large number of new jobs arise, about 279,400 over the projections decade. An increase in the number of businesses, changing financial laws and corporate governance regulations, and increased accountability for protecting an organization's stakeholders will drive job growth.”
Human Resources Management
Employment is expected to grow much faster than the average for all human resources, training, and labor relations managers and specialists occupations. College graduates and those who have earned certification should have the best job opportunities.
Overall employment is projected to grow by 22 percent between 2008 and 2018, much faster than the average for all occupations. Legislation and court rulings revising standards in various areas—occupational safety and health, equal employment opportunity, wages, healthcare, retirement plans, and family leave, among others—will increase demand for human resources, training, and labor relations experts.
Medical and Health Services Managers
Employment is projected to grow faster than the average. Job opportunities should be good, especially for applicants with work experience in healthcare and strong business management skills.
Employment of medical and health services managers is expected to grow 16 percent from 2008 to 2018, faster than the average for all occupations. The healthcare industry will continue to expand and diversify, requiring managers to help ensure smooth business operations.
How about the outlook for students with a Master of Business Administration? According to Businessweek.com:
“The Graduate Management Admission Council reported today that 2011 MBA graduates are having an easier time in the job market than graduates from recent MBA classes. More than half the class of 2011, or 54 percent, received at least one job offer, up from 32 percent last year, according to the report. The finding are based on a survey, conducted in March, of 4,794 recent or soon-to-be graduates at 156 schools around the world”
While some of these areas are covered above, you can see the diversity of opportunities available to individuals seeking to pursue a career in business. So, where can you look for even more information on business careers?
If you’d like to learn more about the business degrees offered at Argosy University, please visit our main business page. You might also like MSNBC.com’s special report on the Future of Business, which offers a lot of interesting articles and features on what may lie ahead. Also, the Bureau of Labor Statistics covers the outlook for a wide range of business careers fat their site.