A business study is an academic area of concentration within the business major that is taught at an institution of higher learning. There are many different subject areas within the business sector. Thus, there are several types of business studies. Business studies help train and prepare undergraduates and graduates for careers in the business world. In addition, business studies are among the most popular studies among college students. According to the National Center for Education Statistics, most of the degrees awarded to college graduates are business degrees.
The Facts
Business is a very broad concept. There are several academic business disciplines. Therefore, the need for subsections or areas of concentration within it soon became realized. A business study is one particular subject area within the broader subject area of business. A business study focuses on one aspect of business. For example, the subject of accounting is a business study, and the subject of economics is a business study. In addition, there are even more concentration subsections offered within certain business studies. For instance, finance is a business study that is broken down into managerial finance, personal finance, and several others.
Types
There are many business studies. The most common of these is accounting, advertising, economics, finance, management, and marketing. Accounting is often referred to as the language of business, for it is the art of communicating financial information. Advertising is the art of persuading potential customers to purchase a product. Economics focuses on the production, consumption, and distribution of goods and services. Finance focuses on the topics of time, money, and risk. Management deals with managing and controlling a business. Marketing focuses on promoting and selling within a market. There are countless other business studies as well.
Function
Business studies serve several functions. First of all, they allow the broad study of business to be broken down into more comprehensive subject areas that are easier to absorb and study. This categorization of studies allows for specialization as well. Rather than requiring each student to be proficient in the general category of business, business studies allow students to concentrate on one area and specialize in it to achieve expertise. Business studies more efficiently prepare students for business careers than a broad study of business would.
Benefits
Business studies offer several benefits, both to individuals and the business marketplace as a whole. These studies allow students to receive a higher quality of education in their chosen profession that will better prepare them for their careers. This, consequently, affects the business world positively. When these students obtain their degrees in their specialized areas of concentration, they will bring a higher quality of knowledge to the business world that will reflect in their contributions to their places of employment, thereby raising business standards.
Potential
Much potential is vested in business studies. Talented students who choose to concentrate in a business study can specialize in their chosen areas so efficiently that they become experts at their specific business discipline. By bringing that expertise to the business world, they are offering higher quality employment and the increased possibility of better business innovations that could lead to a higher standard of living for the whole economy. Business studies have the potential to impact and change an entire economy.
