Online Business Schools
Business degrees are one of the most versatile and functional degrees available, providing graduates with many job opportunities in the fields of business administration, business finances and various facets of management. Students successfully completing online business school programs may find positions in human resource, national and international marketing firms, database management or working as a project manager.
While some business programs concentrate on selected areas such as accounting, healthcare or technology, all courses will examine relevant concepts concerning the business management field. For example, learning how to manage culturally diverse employees, employing profitable strategies and decisions within a chain management system and developing effective communication skills are just a few of the concepts students will analyze while enrolled in an online business school program.
For individuals interested in forming a company, obtaining a business degree enhances the business acumen necessary to launch a viable, innovative and competitive organization. With the ability of the internet to reach thousands of customers, entrepreneurship has become a principle player in fueling economic growth and job creation. Many business majors own an online business or use the internet to effectively advertise their business through social media sites and customer review forums.
Online business school programs also teach potential entrepreneurs about financial bootstrapping and external financing, two methods that can assist in starting a business. Financial bootstrapping involves funding sources that do not include outside investors, which gives the entrepreneur freedom to create a business without the intervention of external ideas. External financing methods are generally employed for business that require large amounts of capital that can only be provided by hedge funds, angel investors, crowd funding or venture capital investors.
Requirements for a Business Degree
In addition to general education classes necessary to obtain most degrees in the U.S.–English, science, algebra and some liberal arts classes–an Associate of Business, Bachelor of Business Administration or Bachelor of Science in Business degree requires that students take courses focusing on accounting principles, business finance, economic theory (macro- and microeconomics), project management and business writing. In addition, the legal and ethical components of business management is explored and may include international business law if the student chooses to study overseas business practices.
Bachelor of Science degrees will exhibit emphasis on a particular field, depending on what area of business in which the student plans to work. For example, Bachelor of Science programs may specifically address such fields as marketing, economics, healthcare management, communications and even management in early childhood education. Students participating in specialized programs will receive degrees printed with the name of their focus to show employers their educational expertise in a certain field of business management.
Masters in Business Administration
The majority of employees searching for talented and visionary business majors seek those with M.B.A.s, or Masters in Business Administration degrees. This degree is available to those who have already completed a four-year program and obtained a Bachelor’s degree in business. Master’s programs allow students to expand on their knowledge of a unique aspect of the business industry, usually a field studied while earning their Bachelor’s degree.
Admission into a master’s program requires students pass the GMAT (Graduate Management Admission Test) as well as provide documentation of work experience, letters of reference and academic transcripts earned from other universities. Several different online Master’s programs are available, such as the full-time, two-year MBA program, an accelerated version of the two-year program which implements a higher class load and a part-time MBA program that allows students to work and take evening classes to accommodate a busy schedule. In addition, a few schools have duel MBA programs that combine a business degree with a Juris Doctor (J.D.) degree for students wanting to work as legal experts in the business field.
Online Business Schools
Many online schools offer business degree programs for those seeking associates bachelors or masters degrees in business. Some of these schools include:
- The University of Phoenix
- Kaplan University Online
- Strayer University Online
- Everest University Online
- Westwood College Online
- American InterContinental Online
- National American University Online
Accreditation by the International Assembly for Collegiate Business Education, the Association to Advance Collegiate Schools of Business and the Accreditation Council for Business Schools and Programs are the three principle organizations lending recognition to those schools exhibiting excellent quality standards in regards to education curriculum. Additionally, these accrediting agencies have also been recognized by the www.onlineschool.com ( Council for Higher Education Accreditation).
Reputable online business schools have also been examined and accredited by regional agencies, such as the Middle States Association of Colleges and Schools, the North Central Association of Colleges and Schools or the Southern Association of Colleges and Schools.
Accredited online business schools are eligible to offer federal financial aid in the form of Pell Grants or Stafford Loans to students who submit a FAFSA and qualify for assistance. Once a student fills out and sends a Free Application for Federal Student Aid (FAFSA) to the Department of Education, the school he or she plans to attend is notified of eligibility status. For students unable to receive financial assistance, payment plans are made available by online business schools that allow students to may monthly or quarterly payments.
Cost of enrolling in an online business school is approximately $5000 to $10,000 per year, depending on the school, various fees and price of supplies. A student can expect to pay around $30,000 for a four year degree and $50,000+ for a six year degree.
Job Outlook for Business Majors
The Bureau of Labor Statistics reports that employment opportunities for business majors remains excellent over the next decade. Salaries for those with business degrees are above average as well, with entry level positions paying $60,000 annually and executive positions providing over $100,000 to those with expertise in a particular field.