Tuesday, August 9, 2011

Why Study Business?

Posted by Benjamin Atuma at 4:24 AM

Now that you know an overview how business developed over the years 

It would be appropriate to understand some rationales or motivations for studying business.  Like all human endeavours, studying business demands effort, determination and commitment. The rewards reflect in personal and career growth, broaden perspectives and unique advantage, when you want to be your own boss or desire a management position. 

Here are a number of rationales for studying business:

1.  Career Choice: Studying business offers one the opportunities to think about careers in the areas of business. As one progresses, some areas become of particular interest, and demand investigation. Career fields in business include production, sales, accounting, and marketing, among others. It pays off to have a career direction, prolonged delay might be too costly.

2. Self–Employment: Some individuals may not be comfortable working for someone. Such persons may show considerable entrepreneurial spirit that demands independence; as a result, they embrace self-employment. To be successfully self-employed, one needs knowledge of different areas of business which include personnel, operations, marketing, accounting, finance, and management

Studying business provides this needed knowledge base.

3.  Service to Others: Business does not operate in a vacuum. It is a part of a larger society, and depends on the external environment for resources. This way, the survival of the firm or enterprise, to a considerable extent, is contingent on the nature of the existing relationship with its environment. By studying business one will gain insight into how to maintain a stable relationship with the stakeholders in the society. One learns how to fulfill business' obligations. And one may be able to improve society by providing services such as health care, donations to charities, sponsorship of community events, and participation in community development, among others. 

4. Relevance to Everyday Living: By studying business one acquires a better understanding of business realities. This understanding facilitates better-informed decisions as a consumer.

5.  Personal Profit and Growth:  Another benefit of studying business is the chance of financial gain and psychological growth

The business world, understandably, is competitive and challenging.   It is no place for the risks averse individual.  However, the personal profit and growth, psychological and economic, can be exciting. For example, financially, business people are able to make a good living. They possess the wherewithal or resources to acquire life's necessities or luxuries. Psychologically, business people are able to contribute to society by providing meaningful job opportunities. Employers help create and distribute wealth through job opportunities. This fosters a better way of life for others and for themselves, in psychological terms. 

If you are looking to study business, here are some world's leading business schools:
Business as a field of study and practice is insightful and rewarding.  As you gain this knowledge, stay alert to many of its applications.

Over the years, I've developed special interest in business schools (aka b-schools) especially in the contexts of career growth, value added, community development and prospect of future social networking.

Next time, I would show you a list of top Business Schools.

If you liked this blog, you might also like this Business under Various Economic Systems.

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Benjamin Atuma
I am a writer, teacher, web consultant, and an entrepreneur.  Enjoy blogging, business networking, traveling, and preaching the Gospel of Jesus.

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