A Brief History of the Management Major
The University of Pennsylvania was home to the first collegiate business school in 1881, the Wharton School, which marked the beginning of business education in the United States. It was the very man who founded this school, Joseph Wharton, who taught the first tertiary-level management course that same year. During the early 1900s, the study of management began gaining popularity and mangers began developing scientific theories on management practices. In 1911, the first college textbook on management was written by J. Duncan and in 1920 comprehensive theories of management began being taught. It wasn’t long after, that scholars began identifying various branches of management, applying psychology principles to management, and approaching management from a sociological perspective. Today, management is largely thought of in terms of the study of an organization which can be separated into six branches human resource management, operations management, strategic management, marketing management, financial management, and information technology management.
Delving Into the Management Major
People looking to get a leg up in the field of business, have strong interpersonal skills and enjoy working with teams and leading a group toward a common goal will find a home in a management degree program. The leadership skills and experience gained by taking courses in management will be helpful in whatever field you go into and is not limited solely to the business arena. If you have a strong aptitude for problem solving and critical thinking and have the discipline to organize projects and set up a long term plan for accomplishing the tasks that it takes to reach the goals you have set forth, a degree in management will give you the background to prepare you for a leadership position in any business you find yourself.
A course load for a typical management degree program will include classes in finance, economics, advertising, marketing, communications, human resources training and business ethics. The difference between a management degree and other degrees within business is the focus that will be paid to developing leadership skills, negotiating tactics, teambuilding skills, and project development. Since managers will have to know the intricacies of the business from top to bottom, management courses will vary with specialty and focus. Management will also include courses that will teach students how to analyze a business’ performance and improve deficiencies.
Degree Levels:
Associate
Those who decide to pursue an associate degree in management will be educated and trained in the basic business fundamentals and functions. These types of programs generally take two years to complete and require students to earn around 60 credits through courses like management processes, accounting principles, document processing, payroll applications, computerized spreadsheets, business law and legal procedures, and personnel management. Graduates of an associate program in management will develop the skills necessary to work in an office environment and help businesses operate efficiently. As a foundational degree, an associate in management may be awarded at a two-year college or used to transfer to a four-year college or university to pursue a higher-level degree.
Bachelor’s
Those who decide to earn a bachelor’s degree in management will receive a business education that focuses on aspects of management such as leadership, consulting, strategizing, and organizing. Common courses include organizational behavior, business statistics, ethical leadership, information technology in management, accounting and financial management, group dynamics, marketing, and finite math. These types of programs generally take about four years to complete and require students to earn around 120 credits. A degree in management will be a prerequisite for any number of masters degrees in business and which will allow students to narrow their focus and specialize on particular types of business.
Master’s
Those interested in a graduate education within this field can earn a master’s degree in management or an MBA with a concentration in management. A master’s degree program in management specifically focuses on curriculum that develops the skills and abilities necessary to manage people and offices. These types of programs require students to complete at least 30 credit hours beyond the baccalaureate degree and can take up to three years to complete. An MBA with a concentration in management consists of advanced courses in core business subjects with the option to take several elective courses that focus on the management of enterprises. Generally, MBA students are required to complete anywhere from 48 to 60 credit hours, which can take from one to three years to complete depending on program format.
Doctorate
Those interested in research or education can pursue a Ph.D. in management science which goes a step further than a master’s degree. It consists of advanced coursework and research studies concerning economics, behavioral science, mathematics, and statistics. Doctoral-level management programs are designed for those who wish to pursue an academic career or apply their knowledge in business research. These types of programs may also require students to attend research seminars, write an original research paper, and develop a dissertation research area. A Ph.D. can take from three to four years to complete and require students to complete a minimum of 84 credit hours of graduate coursework.
Supplementing Your Management Major
The practices and principles of management are essential to almost every industry and field as well as applicable to many areas of life. There are many related and complementary areas of study that greatly benefit students who desire to expand their knowledge and build their academic credentials. Given its range of relevance, there are various specializations within management for those who want to define their area of expertise. Students who wish to pursue a career within a certain niche of management may want to consider a concentration. Some colleges may offer these types of specializations a formal concentration area while others may only provide elective courses within them. Some common concentrations within management include entrepreneurship and small business management, international business, management information systems, management science consulting, food service management, strategic management, and operations management science.
Students may also further define their career paths through choosing a minor. Common minors for management majors include psychology, communications, economics, sociology, and political science. Minors can also be chosen depending on the type of organization or industry that a student wishes to manage. Those who are interested in management within the financial services industry may want to minor in finance, accounting, or mathematics. Those who desire to manage companies within the high-tech industry may find minors in information technology, computer sciences, or information sciences beneficial. One who wants to manage retail can familiarize themselves with the industry by minoring in consumer sciences or retail merchandizing. As health care is a thriving industry and potential for management jobs, minors in health sciences, public health, or health administration may also be beneficial.
Learn More About the Management Major
- U.S. News and World Report: Undergraduate Management Program Rankings
- PayScale: Popular Jobs for Business Management Majors
- MIT OpenCourseWAre: Operations Management
- Gallup Management Journal
The Management Major in the Job Market
Every entity needs employees with good leadership skills and the ability to develop projects and bring them to fruition by leading a team toward a common goal. As a result the job opportunities for management degree holders are plentiful. Degree holders will be able to move into any type of business and should be able to be plugged into any part of the company to improve production, facilitate growth, and foster a healthy work environment. Jobs in human resources start with a salary of about $40,000. With a Masters in Business Administration, this salary could easily double with salaries reaching $200,000 annually depending on the type of business and experience. To give an idea of the effect the field of business has on a manager’s salary, construction managers will start with an average salary of around $72,000, acquisition and contracts managers start at around $80,000, and hospital managers start around $85,000.
Those with an undergraduate degree in management can pursue careers as management assistants and administrative services managers. Management assistants oversee offices and coordinate the administrative activities related to the storing of information, retrieval of data, planning of functions, and management of projects. Administrative services managers ensure that organizations are operating efficiently by planning, directing, and coordinating a variety of services related to facilities maintenance, department materials, support services, contracts, and projects. The Bureau of Labor Statistics reported that in May 2008 the median annual wages of management assistants were $40,030, while those of administrative services managers were $73,520. Degree holders can also qualify for management positions within specific industries such as computer and information systems, finance, human resources, lodging, health services, real estate, and industrial production.
Those who decide to obtain a graduate-level education in finance can pursue careers as management analysts and Chief Operating Officers. Management analysts examine organizations and consult them on how to improve their structure, efficiency, and profitability. Chief Operating Officers are responsible for planning and directing the operations of an entire organization, which may include coordinating day to day operations, implementing strategies, formulating policies, and making decisions regarding material use. The Bureau of Labor Statistics reported that in May 2008 the median annual wages of management analysts were $73,570, while Chief Operating Officers made $91,570.
Careers I Can Get with This Degree:
