Having a strong career in business management assures strong professional life along with hands-on experience with real-life business practices.
The business management course focuses on teaching knowledge and skills in organising, planning and analysing business activities for businesses of all sizes – from multinational companies to start-ups.
A Bachelor’s in Business Management or a Diploma in Business Management appears to bring an opportunity for a student to earn a promising career ahead.
Australia- A popular destination for students, offers students with business management courses. Reports show that in subsequent years, business management courses in Australia will focus on developing the technical, human and social skills required for efficient and strategic business management.
According to studies in Australia, there are over 545 undergraduate degrees in business and management in Australia.
In this blog, we will discuss a Career in Business Management and the Business Management course in Australia in a detailed form.
What are Business Management, its types, and its importance?
According to Tech Jury, ” Business Management includes activities that describe a set of activities involved in planning, organizing, and running business entities. ”
Types of Business Management
- Financial management oversees the monetary resources of a business.
- Human resource management includes all the activities related to human resources.
- Operational management or production management includes creating the highest efficiency within the company.
- Sales and marketing management focused on promoting business goods and services.
- Information technology management is focused on running and creating a technological infrastructure for the company.
- Strategic management is all about the strategy of a business plan.
A degree in business management is important because it contributes to the production of business managers who have a comprehensive grasp of the company as well as particular areas such as finance and human resources.
Who are business managers, and what do they do?
Those who study or graduate and get into the professional field of Business Management are Business managers. These managers are also leaders who check on operations, supervise or train new employees, help employees reach their top productivity levels, and ultimately help a business achieve its operational and financial objectives.
These business managers will also have leadership, teamwork, and marketing skills to propel their operations and activities of companies to new heights and tackle staff hiring and management issues.
On-school (offline) vs online courses in Business Management
When you choose to study business management in school or offline courses, you can attend and participate in classes at a college or university. This allows you to have real-time interactions with friends, teachers, and the university.
Online business management courses educate you on principles and managerial skills without ever leaving your house. Many Australian universities and colleges provide both on-campus and online options for obtaining a business management degree.
What are business management and administration career clusters?
To make it simple, Business Management and Administration career cluster is a career track that prepares students for jobs in business management and administration.
The business cluster includes 5 specific career pathways:
- Business Information Management
- Administrative Support
- Operations Management
- General Management
- Human Resources Management
Talking about the Administrative cluster has 4 specific career pathways: Communication skills, Human resources management, Information management, and Operations.
Diploma in Business Management vs Bachelor in Business Management vs Bachelor in Business Administration
A Diploma in Business management teaches students the skills to assume leadership roles in professional settings with strong communication skills, organizational structure, and human resource management.
You can choose 1 year full-time or 2 years part-time with study mode either On-campus or Online. All students, both national and international, are also supposed to complete an internship for around 84 hours.
Talking about Bachelor in Business Management this degree provides you with practical knowledge in Management, Marketing, Digital Marketing or Accounting. Bachelor of Business Management in Australia is 3 years (6 trimesters) degree that can be studied in a full-time or part-time setting.
This degree exposes you to new challenges and develops the skills you need to become a future-driven leader. Key business issues and principles and other courses will be taught in this degree through lectures and seminars.
Moving to another degree, the Bachelor of Business Administration in Australia is a 3 years course offered by Australian business schools or by business faculties in universities.
Holding a BBA degree gives students a solid understanding of business along with critical, analytical and strategic skills necessary to take an MBA in the future.
To earn BBA in Australia, candidates must have Australian Class 12 or equivalent with a background in Mathematics, international selection rank, and English Language Proficiency (IELTS/ TOEFL/PTE/C1 Advanced).
Note* Bachelor’s degrees in Australia need completion of 144 credit points, according to the academic credit system.
5 Jobs Positions with a Bachelor’s in Business Management
A career in business management is certainly beneficial at the same time, challenging. This degree offers many positions and careers, but here we will cover 5 major business management careers. Let’s get into it.
1. Sales representative
A sales representative or sales manager might work directly with customers to sell them services or products and then manage the relationship to assist them in satisfying their needs.
Every firm, large or small, has a sales representative who is responsible for getting their product or service to as many customers as possible. Their business management degree allows them to grasp finance, marketing, and business strategy.
2. Operations manager
A business operations manager is in charge of the day-to-day operations of a company. An operations manager, the person is responsible for examining all systems and procedures to determine the best method to carry them out.
They look for effective solutions, organise a firm, and manage how everything functions together while also providing a new scheduling system for employees.
Banker is one important career option among different careers in business management. Bankers can be of 3 types, based on specified works:
- Personal bankers: They work with clients on their investments, financial needs, mortgage and auto loans, and more.
- Commercial bankers: They help businesses set up their accounts, get loans, manage their funds, and more.
- Investment bankers: These professionals help large companies raise capital and follow regulations with their money.
4. Financial Advisor
A financial advisor is a prominent one among business management degree career options. Financial advisors help individual people to learn about their investment, insurance, and retirement options.
These advisors give regular reports and updates to clients about how their money and how their accounts are performing. Another duty of advisors is researching good investment opportunities, helping explain insurance and retirement options to clients, and more.
5. Management analyst
One of the careers in business management is Management analyst. Management analysts provide strategies to raise an organization’s efficiency while also advising managers on how to generate profits.
They may work with a specific department or the entire company to observe how various jobs. This position necessitates a thorough grasp of business operations, but that’s not all.
Average Salary for business management graduates in Australia
Business management graduates can opt for any career. Each career can offer a different salary. Let’s look into the average salary of the 5 careers we covered in the earlier section.
A banker’s average salary in Australia is $90,500 per year, while for a sales representative, it is $70,000 per year or $35.90 per hour. A business manager’s salary in Australia earns $120,000 per year or $61.54 per hour.
Talking a banker, the average salary in Australia is $90,500 per year, whereas the average salary for a financial advisor in Australia is $102,347 per year. Another prominent business management professional, the management analyst’s average salary is $110,000.
*Note: These salaries are in Australian Dollars, here referred to as $, and the numbers are in reference to Talent.com.
Colleges in Australia that offer business management degree
Business is the most popular major among international students in Australia, with over 25% of overseas students studying business-related courses. Numerous universities and institutions in Australia provide a variety of managerial courses.
Over 750 Bachelor’s degrees and 1,000 Master’s degrees are available in Business and Management. Accounting, business analytics, business administration, economics, finance, international business, and other specialisations are available in universities and schools.
Why choose Diploma in business management from Bright College?
Searching for the best Australian College that offers the best Diploma in Business Management? Well, your answer is Bright College.
With Diploma in Business Management course from Bright College, students can be at the frontline of the business market and own expertise that requires business operations skills.
The Diploma in Business Management course has 5 core units and 7 elective units. At Bright College, you can attain physical classes, i.e. Face-to-Face 3 days per week, while also opting for online classes. The duration of this degree is 52 weeks, with tuition fees of AUD 2800.00.
To get enrolled or check on the criteria and documents for Diploma in Business Management, you can visit our official website.