5 Business Degrees To Succeed In 2023

By
Robert Delong
-
business owners
business owners

In today’s fast-paced and dynamic business environment, having a relevant and up-to-date degree is essential for a successful career. A business degree can equip you with the knowledge and skills necessary to navigate the complexities of the corporate world and help you stay competitive in an ever-evolving job market.

According to the Bureau of Labor Statistics, employment in business and financial occupations is projected to grow 8% from 2020 to 2030. With such a promising job outlook, it’s no wonder that business degrees are among the most popular degrees pursued by students today.

However, with so many different types of business degrees available, it can be overwhelming to decide which one to pursue. In this blog, we will discuss five business degrees that are likely to be in demand in 2023.

Global Management

Global management is an essential component of any business degree program that seeks to prepare students for success in the 21st-century. With the increasing linkage of economies, markets, and cultures, companies are no longer confined to local or national boundaries but must operate on a global scale to remain competitive. Therefore, understanding how to manage global operations, navigate international regulations, and build relationships with diverse stakeholders has become a vital skill for aspiring business leaders.

Students typically study subjects such as international business law, global marketing, cross-cultural management, supply chain management, and global finance to succeed in this field. For example, with a UW Parkside online MBA, you can learn how to analyze market trends, identify opportunities and threats, develop business strategies, and manage risk in a global context.

Finance

With the constantly evolving economic landscape, there are several things you can do to ensure you succeed in finance in 2023.

• Keep an eye on emerging technologies, regulatory changes, and global economic developments that impact financial markets.
• A thorough comprehension of the financial markets includes understanding the factors that drive the markets, the behavior of investors, and how financial instruments work.
• Networking is essential in finance, and building strong relationships with industry professionals can open doors to job opportunities, mentorship, and valuable insights. Attend industry events, join professional organizations, and connect with alumni from your school to expand your network.
• Finance is a highly analytical field, and success in it requires strong analytical and quantitative skills. Take courses that emphasize data analysis, statistics, and financial modeling.
• Certifications such as Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), and Financial Risk Manager (FRM) can boost your credibility and demonstrate your expertise to potential employers.
• Employers value practical experience, so seek out internships, co-op programs, and other opportunities to gain hands-on experience in finance. They can help you develop your skills, build your network, and make you a more attractive candidate to recruiters.

Business Administration

The business landscape is becoming more complex and dynamic, with rapid technological advancements and globalization leading to increased competition and unpredictability. Business administration graduates are trained to navigate these challenges and create effective strategies to manage risk, innovate, and stay ahead of the competition.

There is a growing emphasis on sustainability and corporate social responsibility, and businesses are expected to operate ethically and contribute positively to society. Business administration graduates are equipped with the skills to create sustainable business models and implement socially responsible practices, making them attractive to companies that prioritize these values.

The pandemic accelerated the shift toward digitalization, and businesses are now increasingly reliant on technology to operate efficiently. Business administration graduates are trained to leverage technology to streamline processes, analyze data, and make data-driven decisions, increasing their worth in the current business environment.

Students should also seek opportunities to develop their leadership, communication, and critical thinking skills through internships, extracurricular activities, and networking.

 Entrepreneurship

Entrepreneurship has become an increasingly popular area of interest in business degrees over the past decade, and it’s not hard to see why. As the global economy continues to shift towards innovation and technology, entrepreneurship has emerged as a key driver of economic growth and job creation.

To succeed as an entrepreneur in 2023 and beyond, there are several key skills and knowledge areas that you should focus on as part of your degree program.

• You’ll need a strong foundation in business fundamentals, including accounting, finance, marketing, and operations. This will provide you with the knowledge and skills needed to create a sustainable and profitable business model.
• You’ll need to develop a deep understanding of the current business landscape, including emerging technologies, industry trends, and customer needs. This will help you identify new market opportunities and stay ahead of the competition.
• As an entrepreneur, you’ll need to inspire and motivate your team, as well as communicate your vision and strategy to investors, partners, and customers.
• It’s important to develop a strong network of mentors, advisors, and industry contacts. This can help you access capital, find new customers, and gain valuable insights into the challenges and opportunities facing your business.

Marketing

A degree in marketing can provide you with a broad range of skills, including market research, product development, advertising, branding, and sales. These skills can be applied across a variety of industries, from consumer goods to technology to healthcare.

Some of the specific career paths that a degree in marketing can prepare you for include:

• With the rise of digital channels such as social media and search engines, digital marketinghas become an increasingly important function in many businesses. A degree in marketing can prepare you for a career as a digital marketing manager, where you would be responsible for developing and executing digital marketing campaigns.
• Brand managers are responsible for developing and maintaining a company’s brand image, including creating marketing campaigns, managing social media channels, and developing product packaging and messaging.
• Market research analysts are responsible for collecting and analyzing data on consumer preferences and behaviors, which are then used to inform marketing strategies.
• Advertising managers are responsible for developing and executing advertising campaigns across a variety of channels, including print, TV, and digital. A degree in marketing can provide you with the skills needed to succeed in this dynamic and exciting field.

Conclusion

A business degree is a highly valuable asset that can help individuals succeed in the constantly evolving and competitive business landscape of 2023. The skills and knowledge gained through it can enable graduates to analyze market trends, make informed decisions, develop effective communication and leadership skills, and adapt to the latest technologies and innovations.Whether pursuing a career in entrepreneurship, finance, marketing, or management, a business degree can provide individuals with the tools and expertise needed to thrive in their field and make a significant impact in their organizations.