Some of the most popular reasons for studying business are to work in a senior-level or executive-level position in a company. Similarly, in 2020, there was a 66% increase in demand for entrepreneurship education year-on-year. As such, students are increasingly seeking out the best business degrees for careers in this area.
While a business degree can lead to a wide variety of careers, many students still see running a company or starting their own business as the pinnacle of their post-graduate life. In this career, you’ll bear responsibility for managing people and profits, and see a business grow through your own decision, making it hugely rewarding.
But how can you get to this coveted position in a company, whether that’s your own startup or a well-known multinational? These are the best business degrees to choose if you want to run a company.
Best Business Degrees for running a company
Economics sometimes gets a bad rep for being too maths-focused and not a practical business subject. However, you’ll find that this degree is ideal for people who want to be in charge of a company, large or small.
In an economics degree, you’ll discover why people make financial decisions, how the world economy works, and how you can best maximise profit at your own company. You’ll study two related but differing areas of economics: microeconomics and macroeconomics.
Microeconomics is about how individuals or companies use their wealth. For example, you may study the psychology of consumer buying decisions and the relationship between consumers and companies. Macroeconomics takes a larger view. Here, you’ll study the economics of entire countries or regions, and how things like unemployment and inflation can affect spending power and consumer decisions.
Overall, economics is a vital skill for successfully running a company – especially if you have aspirations towards a global or multinational company. You won’t just learn about economics, but also about geography, law, psychology, and finance.
Management is one of the most popular degrees for students wanting to work in a senior-level position in a company, or in their own company.
With a management degree, you’ll learn about how to be a successful leader and about leadership theory and practical aspects of managing people. However, you’ll also gain a broad overview of the business as a whole, including aspects of finance and HR.
This broad syllabus makes it ideal for those who want to manage people at a high level. You’ll graduate with an understanding of all the different departments that make up a business and how they relate to each other, meaning you can jump right into a company at the top level.
Your level of management knowledge will depend on the type of degree you take. A Bachelor’s programme in management will prepare you for entry-level roles in an organisation, while a prestigious Master’s in Management degree could see you enter a company at a high level.
Finance is arguably one of the most aspects of running a company. Without the ability to successfully manage money and maximise profits, a company wouldn’t exist. That’s why a finance degree is a great choice if you want to manage a company in the future.
A finance degree will cover the basics of finance and accounting as well as how to manage finance projects and innovative subjects like blockchain or fintech. You might also pursue entrepreneurship projects with a finance focus. As such, many graduates of a finance degree launch their own finance companies.
Some finance degrees may also include an aspect of economics, as the two subjects are intrinsically linked. This will make you even more employable, as you’ll have advanced knowledge of world finances and economies. On the other hand, you may study a finance degree with a banking component, which could lead to management positions in the banking or investment industry.
2. Business Administration
Similar to a management degree, business administration programmes will give you a high-level overview of all the important aspects that make up a successful business.
However, while management is focused on leadership skills, a business administration degree will develop further skills in strategy, interpreting data, and human resource management.
When you graduate with a business administration degree, you’ll have advanced knowledge of HR, finance, accounting, strategy, and leadership. All these skills will be applied in a senior-level management position in a company, or as an entrepreneur.
However, the best business degree to study if you want to manage a company, especially your own, is undoubtedly entrepreneurship.
A Bachelor’s degree in entrepreneurship will introduce you to all of the same topics as a business administration or management course, but with a focus on entrepreneurial thinking. This includes the ability to grow a business venture and adapt strategy to disruption.
On a Master’s in Entrepreneurship, you might go further with additional courses in disruptive technology and hands-on projects where you propose a business venture.
Graduates of this degree are well placed to lead a company. You’ll learn aspects of strategic thinking, and innovative decision-making, and have a strong basis in business fundamentals. As such, you’ll be able to lead both a startup and a large innovative business to success.
A business degree is a key to many careers, including as the head of a company. By studying subjects like economics, finance, HR, and management, you’ll have the skills necessary to make high-level decisions and guide a company to success.
However, one of the best business degrees to study if you want to run a company is entrepreneurship. This study will introduce you to innovative ways of doing business and offer you a path to starting your own company if that’s what you want to do.
If you’re thinking about applying for a business degree this year, have a read of our article on five things to remember when applying to business school.