Business Management has become one of the most sought after career options in the past couple of decades. With so many sectors showing growth and new organizations entering the market, as well as India, there was a sudden requirement for qualified individuals. That fuelled the growth of business management courses online and created a space for this kind of education.  Now there are discussions on whether such courses actually make a difference and if the skills or knowledge they provide are needed in the business world. The answer to that is – Yes, they do make a difference and the knowledge that one gains through them can actually set the foundation for one’s career.

Let us take a look at how that is important.

1. Education and Experience are both important – Sometimes individuals believe that having sufficient work experience is enough. Gaining practical knowledge through working is definitely important. But if it is not done in addition to your learning process or if the right kind of management education has not been pursued, there are chances that your thought process will get limited. A management education provides you with detailed knowledge on all areas of business. Your work experience will not be restricted to your function or even sub function, but also just to your own role. That can impede your growth prospects since all senior level roles need you have high levels of general management and cross-functional knowhow as well.
2. Peer-to-peer learning is crucial – Whether it is through online discussions, virtual communications, video conferences or through classroom sessions, the fact that peer-to-peer learning is crucial remains consistent. Different people bring fresh and different points of view. When discussions happen in a group, big or small, there is a whole lot of new knowledge that gets generated and shared. This is something that only a business management course provides. It also creates an environment of healthy competition and teamwork, both of which will be needed in your workplace as well. These interactions could also result in a form of mentoring, for each other. Further on it can lead to networking with the same peers as they follow their own career paths too.
3. Global insights – All courses are designed to help you learn from a global perspective while retaining the local flavour that will apply for your country. If you rely only on work experience or articles that you read, you will miss out on obtaining a world view that applies for businesses. With the kind of border-less world that we live in, when it comes to business, we need to have knowledge of international trends. We should also be aware of approaches and practices that are international in nature since those set the benchmarks for most process standards. This kind of specific insight comes from business management courses.
4. Blended learning approach – You might be a person who likes to learn the theory first and apply it after that. Or learn on the job and then read up the theory or science behind the concepts you apply. Or do both simultaneously. No matter what your learning approach and style is, a business management course allows you to use either to be able to absorb the information. All courses are blended in their approach with a healthy mix of case based learning, practical application and strong theoretical emphasis.
5. Better job opportunities – A management degree definitely helps in getting better jobs and enabling your career growth. Usually business management institutes have a set of organizations that provide the right opportunities to their students. If you review any job description in a small, mid or large organization, most share that they need the person to have a business management degree. That is the value attached to it by companies too. Hence the job prospects are significantly better. That also results in better pay packages for those who complete it.
6. Solutioning mindset – A business management course curriculum is also designed in a way that it encourages the students to explore and expand their solutioning mindset. The case studies, projects and even live company visits are focused on creating a sense of thinking through the challenges, and how to address them. While creative thinking can be a good way to do this, the better way is to combine conceptual principles with the thinking process, and then apply.
7. Market knowledge – Reading the newspapers and articles is not sufficient to gain market knowledge. Business insights are usually shared through journals by top business schools such as the Harvard Business Review, and so on. As an individual it is difficult to subscribe to all of them, and manage to read and learn more about the global business trends, new thought leadership that is arising and how the corporate as well as talent scenario is changing.

These are some reasons why business management courses are needed in the business world. They add a lot of value to your professional growth, and ensure that you remain employable in the long run.