Explore the Business World: What is Business Studies?

Summary: Explore the mechanics of the corporate realm with Business Studies and know exactly what is Business Studies? Dive into this article to decode how industries thrive and why it matters to your future!

In the ever-evolving tapestry of the modern world, the concept of 'business' forms a central thread, influencing economies, shaping cultures, and driving innovations.

But what exactly constitutes the world of business, and how do its many facets come together to create the enterprises we interact with daily? "Business Studies" seeks to answer these questions, delving into the complex systems, practices, and principles that underpin the corporate realm.

This article answers all the details of What is Business Studies?

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What is Business Studies? 

Business Studies is like a guidebook that teaches you how businesses work, from setting them up to making them run successfully. It covers everything from how to sell products and manage people to understanding money matters in a company.

Whether you're an aspiring entrepreneur, a curious consumer, or a student charting your academic path, understanding Business Studies provides a lens through which to view, analyze, and engage with the commercial world. 

Business Studies Learning Objectives

The following qualities are additionally developed through business studies: 

• Critical reasoning and analytical aptitudes while also inculcating knowledge of evaluative procedures. 
• Develop the ability to investigate, decipher, and use business and monetary data.
• Independence, initiative, and the capacity to manage time, tasks, and assets.
• Valuation for the circumstances and end results of monetary and other external changes. 
• An innovative critical thinking approach and sound as well as intelligent dynamic abilities.
• Powerful and convincing written and oral communication abilities.
• Understanding authoritative conduct and structure. 

Also Read: 

Who is the father of business studies?

Peter F. Drucker

What is business studies in commerce?

Business Studies in the context of commerce refers to the academic study of various aspects of businesses and the commercial environment in which they operate. Commerce is an overarching term that encompasses trade, production, and the distribution of goods and services. Business Studies, as a subset of commerce, delves into the intricate details of business operations, strategies, and environments.

What is Business Studies?: List of Courses

The following are different kinds of Courses after 12th Commerce offered for the applicants: 

Undergraduate Courses 

Business Studies Class 12 -

An undergraduate degree in the Business Studies stream is prevalently known as a B.B.S, and the duration of this degree is three years and is separated into six semesters.

Bachelor of Business Studies (B.B.S.) is an undergraduate program that offers a comprehensive understanding of the business world, combining theoretical knowledge with practical business techniques. This course provides a foundation in various aspects of business, such as management, finance, marketing, organizational behaviour, and human resources.

Duration: Typically, a B.B.S. program spans over three years and is split into six semesters.

Course Structure:

The B.B.S. curriculum is designed to cover a wide array of subjects, including:

• Business Law
• Business Mathematics and Statistics
• Financial Accounting
• Organizational Behavior
• Marketing Management
• Business Ethics
• Human Resource Management
• Operations Research
• Entrepreneurship
• Management Accounting
• International Business

Who must consider this program? B.B.S. is an ideal program for individuals passionate about the intricacies of the business world and who are looking to develop a holistic understanding of business operations and strategies. The course ensures a blend of theoretical and practical knowledge, preparing students for various roles in the industry or for further academic pursuits.

Check: CBSE Class 12 Business Studies Syllabus

Postgraduate Courses 

A postgraduate degree in the Business Management stream is known as a Master of Business Studies (MBS). This scholarly degree has a duration of 2 years and is divided into four semesters. 

The Master of Business Studies (MBS) is a postgraduate degree designed to provide students with advanced knowledge and understanding of the business world. Going beyond the foundational business principles learned at the undergraduate level, the MBS delves deeper into the complexities of managing businesses, formulating strategies, and navigating the global commercial landscape.

Duration:

The MBS program is generally structured to be completed over two years, though the duration can vary depending on the institution and region.

Course Structure:

An MBS curriculum typically covers a wide spectrum of advanced business topics, including:

1. Advanced Marketing Management
2. Strategic Management and Business Policy
3. Organizational Behavior and Leadership
4. Financial Management and Corporate Finance
5. Business Research Methods
6. Operations and Supply Chain Management
7. International Business and Trade
8. Business Analytics and Big Data
9. Entrepreneurship and Innovation
10. Business Ethics and Corporate Governance

Upon completion of the MBS, graduates are well-prepared for leadership roles such as Strategic Manager, Business Consultant, Operations Director, Finance Manager, or even to start their own ventures. Some also opt for academic roles or further studies like PhD programs in business.

Check: Class 12 Business Studies Important Questions

Doctoral Courses

Ph.D. in Business Studies

The doctoral course in the field of Business Studies is known as "Ph.D. in Business Studies." Different management colleges conduct this course over a period of 3 to 5 years.

A PhD in Business Studies represents the pinnacle of academic achievement in the domain of business research. It is a doctoral program focused on advancing the knowledge frontiers of business through rigorous research, analysis, and academic scholarship.

Duration:

Typically, a Ph.D. in Business Studies ranges from 3 to 5 years, depending on the research topic, institution, and the student's dedication.

Course Structure:

• Coursework: Initially, students often undertake coursework in advanced topics to build a solid theoretical foundation for their research.
• Comprehensive Examination: Post coursework, students usually undergo a qualifying or comprehensive exam to test their understanding and readiness for research.
• Research Proposal: Students formulate a research proposal detailing the objectives, methodology, literature review, and expected contributions of their study.
• Research & Thesis: The heart of the Ph.D. program involves intense research, data analysis, and synthesis of findings to make original contributions to the field.
• Dissertation Defense: Once the thesis is written, students defend their research findings and methodologies before a panel of experts.

Upon completion, many Ph.D. holders opt for academic roles as professors, lecturers, or researchers. Others may choose consultancy, policy-making, or strategic roles in multinational corporations.

What is Business Studies?: Eligibility Requirements

Check requirements to be fulfilled in order to get admission into Business Studies courses at UG, PG and PhD levels. 

Bachelors Eligibility Requirements

• To get admission in the Business Studies course, a student is required to pass the 10+2 (or same) examination with a total of 60% marks (55% for SC/ST/WW/Physically Challenged Categories) in four papers as well as in English which is a compulsory subject. 
• The eligibility criteria can vary for different institutes; ensure to check the respective website of the college you intend to apply. 

Check: CUET Business Studies Syllabus

Postgraduate Eligibility Requirements

• A student is required to have a bachelor's degree in a related field with at least 50% marks to apply for a postgraduate course. 
• The eligibility criteria can vary for different institutes; ensure to check the respective website of the college you intend to apply. 

Doctoral Eligibility Requirements

• For a doctoral course, a student must have finished post-graduation in a related field or similar with at least 50% marks aggregate. 
• The eligibility criteria can vary for different institutes; ensure to check the respective website of the college you intend to apply. 

What is Business Studies?: Why choose Business Studies?

A student can start taking business studies classes in their first year of college and continue studying and working in this field through their doctoral studies. The goal of this stream is to develop the student's skills so they can manage the company management process.

1. Broad Understanding of the Business World

Business Studies provides a holistic view of the business environment, covering various aspects like marketing, finance, operations, and human resources. You get comprehensive knowledge that helps in navigating the complexities of the corporate world.

2. Career Flexibility

With a background in Business Studies, you can venture into a multitude of career paths, from entrepreneurship to corporate roles, consultancy, or even academia.

3. Transferable Skills

The course equips you with a set of versatile skills like leadership, critical thinking, problem-solving, and communication, which are valuable in any profession.

Check: Class 12 Business Studies Sample Papers

4. Foundation for Entrepreneurship

Entrepreneurial aspirations can benefit you immensely from the knowledge and insights gained, aiding you in setting up and managing your own business effectively.

5.  Global Perspective

As businesses today are interconnected globally, studying business provides insights into international markets, trade, and cultural nuances, preparing students for global roles.

6. Personal Financial Management

Beyond just corporate scenarios, the financial literacy gained from Business Studies can be applied to personal financial planning and investments.

Check: Class 11 Business Studies Sample Papers

7. Opportunities for Networking

Business courses often provide chances to connect with industry professionals, alumni, and peers, which can be invaluable for future opportunities and collaborations.

In essence, Business Studies is not just about understanding companies but also about personal growth, strategic thinking, and preparing oneself for a multitude of opportunities in the ever-evolving global market.

What is Business Studies?: Career Opportunities

Business Studies, with its multifaceted curriculum, offers a plethora of career opportunities spanning various sectors and roles. Whether one has a penchant for numbers, a knack for strategy, or an inclination toward human resources, Business Studies lays the foundation for a wide array of career prospects.

There are different career choices for Business Studies graduates in the business industry. Be it the banking industry, financial sector, advertising organizations, stock trades, or BPOs.

1. Management

• General Manager: Oversee operations, ensuring the organization meets its goals.
• Project Manager: Plan, execute, and finalize projects according to strict deadlines and budgets.

2. Finance & Banking

• Financial Analyst: Analyze financial data and trends to advise businesses on their financial decisions.
• Investment Banker: Assist companies in raising capital and provide strategic advice for mergers.

3. Marketing & Sales

• Marketing Manager: Develop strategies to promote products or services.
• Sales Manager: Lead sales teams to reach revenue targets.

Check: How to study Business Studies Class 12

4. Human Resources

• HR Manager: Oversee recruiting, training, and employee relations.
• Training & Development Manager: Design and oversee programs that enhance employee skills.

5. Operations

• Operations Manager: Ensure efficient and effective production of goods and services.
• Supply Chain Manager: Oversee and manage the flow of goods, data, and finances as products move from supplier to manufacturer to wholesaler to retailer to consumer.

6. Entrepreneurship

• Start-up Founder: Launch and manage one's own business.
• Business Consultant: Provide specialized advice to improve business performance.

Check: Event Management Courses after 12th

7. Information Systems & Analytics

• IT Manager: Ensure computer systems support an organization’s information technology needs.
• Data Analyst: Extract insights from complex data to help businesses make informed decisions.

8. International Business

• International Business Manager: Manage global operations and adapt strategies to the international market.
• Trade and Export Development Managers: Oversee the export processes in and out of countries.

9. Real Estate

• Real Estate Developer: Buy land, finance deals, build or have buildings constructed, and then lease or sell them.
• Property Manager: Manage operations of a real estate property.

Check: Management Courses after 12th

10. Academia & Research

• Business Professor: Teach business courses at universities and colleges.
• Research Analyst: Study market conditions to examine potential sales of a product or service.

Job Profiles after Graduation

• Business Analyst
• Teacher & lecturer
• Manager
• Consultant
• Analyzing Business Analyst
• Accountant

Job Profiles after Post-Graduation

• Business Development Manager
• Finance Manager
• Accounting Head
• Management Consultant

Job Profiles after Ph.D. Degree

• CEO
• Business Consultant
• CFO

Check: Class 11 Business Studies Syllabus

Conclusion

Understanding Business Studies is pivotal for aspiring professionals and entrepreneurs, offering insights that guide strategic decisions and drive organizational success. The diverse nature of the curriculum ensures that graduates possess a blend of analytical, strategic, and people skills, making them sought after in a competitive job market. Whether one aspires to climb the corporate ladder, pioneer a groundbreaking startup, or carve a niche in academia, Business Studies serves as the keystone to unlocking these career opportunities.