Recently I have been thinking of taking up a minor, and the choices which have caught my eyes are management and business. I wanted to find out more about each of the minors first so I decided to do some reading up first. I have taken an elective on management before and hence know what it is more or less about.
I am curious as to what is business all about, but couldn’t find any handy “dummy’s guide” for it at my local library (it’s all about marketing, executive management and etc.)
Can anyone recommend a good book as a starting point?
I have a graduate degree in Administration(General Option) from Central Michigan University, by way of bona fides. I was briefly enrolled in a MS in Management program with Troy State University (Now Troy University) back in 1983.
What I’ve learned from this experience is that every college and university treats these subject areas differently. So you’re going to have to have a good talk with the college you’re thinking of taking the course of study at. (yeah, i know, never end a sentence in a preposition)
There’s just no easy answer, so sorry.
I don’t want to leave you hanging, so I will just say that in my own personal, and limited experience, Management has to do with dealing with people in the workplace. Business usually encompasses this as well as ancillary subjects like Accounting, Finance, Statistics, etc.
MBA here. “Business” is a pretty broad term but the simple explanation is that a business is a machine that converts raw materials or products into other products that people want and need. There are various business diciplines but the most important to learn IMHO are:
-Accounting - the language of business
-Marketing/sales - what will I sell, who will I sell it to and how will I let them know about it
-Finance - How will I raise money for my business
-HR/organizational behavior/management - how do I effectively manage the people in my organization
Each builds on the previous one. You need to know how a business operates first. Then you need to figure our what your business will actually do. Next is putting together the cash to get it started. Finally, it’s running it.
I would be careful of learning “management” at the undergrad level. You might be better off learning one of the business disciplines first and gain some expertise in that. Or learn a specific industry. After 2-3 years of real world work experience, then go get an MBA. Companies tend not to hire “professional managers” at the undergrad level.
Machiavelli, Sun Tzu, Jack Welsh, Donald Trump, Jim Collins (Built to Last, Good to Great) etc are great to read to learn about general strategy and politics, but you need to know what a business IS first and HOW it works first.