The business field just keeps growing. Employment in all business and financial operations jobs is projected to grow 8% from 2020 to 2030, about as f...
The business field just keeps growing. Employment in all business and financial operations jobs is projected to grow 8% from 2020 to 2030, about as fast as average for all occupations.Business development managers, or business developers, are vital to this growth. Business developers can be in entry-level positions right out of college, all the way up to CEO and other C-suite positions.
What is an educational program in Business Development?
Business development involves developing and implementing growth opportunities within and between organizations. The goal is to create long-term value from customers, markets, and relationships. While marketing focuses on reaching a wider audience, and sales typically leverages a one-to-one approach, business development seeks to grow a business. The goal is more than to increase profits; it’s to make intelligent business decisions for the overall health of a business.
Bachelor's degree programs in business development generally focus on identifying and solving business problems through an understanding of ethical, social, and legal issues. Business development studies at the master's degree level can be found in a Master of Business Administration (MBA) program. An MBA equips candidates with the skills necessary to pursue senior positions in management and development. A Doctor of Philosophy (Ph.D.) in Business Administration is typically required for those who wish to teach at the postsecondary level or perform scholarly research, likely ending with a dissertation. Graduates could also pursue employment as senior business consultants. Bachelor's degree programs require a high school diploma for admittance. Master's degree programs typically require a bachelor's degree with previous coursework in related fields, such as business. Doctoral programs generally require a relevant master's degree as well as work experience in the field.
What does an educational program in Business Development cover?
Bachelor of Science in Business Development
Students review the core functional and support areas of business and develop competencies in a chosen business discipline. These studies prepare graduates for positions such as analyst or market researcher. This baccalaureate program comprises classes that emphasize fundamental business theories and their application in a variety of organizational settings. Possible subjects covered in the curriculum are:
Fundamentals of business
Supply chain management
Business statistics
Marketing research
Organizational behavior
Master of Business Administration
Master's degree candidates study best practices in implementing new ideas and strategies and putting them into action. Students gain experience in applying business development and administration principles in a variety of settings, with courses emphasizing management and leadership practices. Areas of study include project management, entrepreneurship, critical thinking, and strategic leadership.
These graduate degree programs generally contain classes that combine theoretical and practical knowledge of business administration and development principles for use in a variety of businesses and organizations. Many programs host concentrations in entrepreneurship, merchandising, and business development. Course topics may include:
New product innovation
Strategic management
Operations
Data analysis
Negotiation tactics
Ph.D. in Business Administration
Doctoral degree programs generally provide the highest level of study and research in the field of business and their related disciplines, including marketing, business development, and business operations. Program lengths vary; however, most require 45-60 hours of upper-tier coursework in addition to the successful completion of master's degree credits in the field.
Classes consist of advanced studies and specialized research in areas including advertising, organizational behavior, finance, strategic management, and new business development. Course subjects include:
Marketing strategies
Business development modeling
Financial controls
Information systems
Empirical research methods