Dedication, hard work and consistency are the basic requirements to be successful in any field of study. The same applies to a business school candidate or potential graduate. Attending lectures, jotting down notes and participating will separate the mediocre student from the excellent.
However business-orientated you may be, investing in your studies can determine how far your success will go in the real world. Setting your goals and breaking them down into actionable items is a great place to start. Let us see the different methods you can use to prepare for business school and be a successful business student. Whether you are a part-time or full-time student studying an MBA or any business-related programmes, these pearls of wisdom could go a long way.
How to Prepare for Business School
Here are a few steps that can help you reach your desired goal in your studies as a business school student:
Self-Care:
Taking good care of yourself by being able to manage stress and anxiety is crucial. Allocate time in your weekly schedule for exercise to keep your mind and body fit. Know when to rest and allocate time away from your studies. A balanced work, play and study system can determine your success.
Take advantage of the support resources availed to you by your school:
Many services are accessible to students at almost all universities and their departments, but they are often underutilised. Facilities such as library services, after class individual tutorials, rehabilitation services, disability services, counselling and other services are among them. Use the ones you need.
Count on the support of your friends and family:
The assistance from your family, friends and even coworkers can be useful during the days of your assessments and exams. Reach out to them for encouragement and delegate some of the responsibilities which could free up your time. Use this time for studying or resting.
Stay organised:
Managing a family, a career and a student life require good organisational skills. You can use free organising tools or apps to manage your time, study notes and lessons. Most importantly, keep track of your daily schedule with a to-do list. Setting reminders can also assist you so you don’t miss any important things before deadlines. This should prevent you from feeling the need to work under undue pressure.
Make the right connections and friends in class:
Make the right connections such as being part of a study group. This will help you to stay updated and not miss important updates from your lectures. You will also have peers who may become colleagues in the future and could assist you in your career as you pursue new opportunities.
Should I attend business school?
Most professionals who are in business already enjoy the benefits of high salaries and the professional opportunities that the industry provides. However, you can increase both your salary and available opportunities with a good business qualification, such as a Masters in Business Administration (MBA).
Here are some of the possible advantages and challenges that you should consider before you make your decision:
Advantages:
The business sector provides a clear career path with many prospects for both entry-level and seasoned professionals. Attending a business school can open new networking opportunities. As part of the school’s alumni, you will be part of an established network that would be difficult to develop on your own.
A graduate with a business degree has access to a large number of work opportunities across many industries. Business school graduates and people with an MBA earn salaries that are much higher than the national average.
Large corporations and companies provide opportunities for the progression and improvement of your career. Business graduates may apply their skills in a variety of industries and roles thanks to the extensive and widely applicable training offered by business schools.
Critical thinking and interpersonal skills and leadership and social awareness are just a few capabilities that can be developed when attending an accredited and internationally business school such as Wits Business School.
Disadvantages:
Business professionals can carry a lot of responsibility in what is often a highly competitive workplace. Adding the demands of keeping up with your business school studies on top of this can be very challenging for some. Obtaining a qualification at a business school requires time, attention and determination.
Professionals are often responsible for overseeing consumers, employees and colleagues. Constantly meeting the expectations of these stakeholders in any business or organisation can in some instances be overwhelming. A business school student will have to maintain a careful balance between the expectations at work and those in the classroom.
Many professionals are required to work long hours or travel frequently, depending on their job positions. Without good time management and a well thought out schedule, a student may miss important lectures and assignment deadlines and risks failing exams due to insufficient preparation.
Career’s opportunities in business
Most employers prefer candidates who have earned a bachelor’s degree in any related field within the industry, making further education a requirement for available positions and other growth opportunities within the business.
These are a few career paths you can pursue when you have attended a business school:
Finance:
• Personal financial advisors
• Financial examiners
• Budget analysts
• Cost estimators
• Credit analysts
• Financial managers
Operations:
• Operations research analyst
• Business operations specialist
• Operations manager
Sales and marketing
• Market research specialist
• Marketing manager
• Sales manager
• Sales representative or assistant
• Public relations
Human resources
• Human resource manager
• Labour relations specialist
• Training and development manager
What degree does a business owner need?
There are no educational standards for business owners. While prospective business owners do not need a degree to own a business, there are several programmes available to help them develop a deeper understanding of how to better manage and grow their business.
Prospective business owners have a range of undergraduate and postgraduate options to choose from. Popular choices include an Associate in Applied Science in Business Management, a Bachelor of Business Administration, or a Master of Business Administration.
You may not need a degree to be a business owner but getting one can add credibility to your business and help it succeed. This can help a business to get more business from other businesses, especially when running a B2B company.
Difference between Business Administration and Business Management
There is considerable overlap between business administration and business management and students of both will cover core elements such as accounting, economics and finance. They differ because business managers focus more on people, often leading or managing teams across the organisation. In contrast, business administrators tend to focus on the more technical aspects of a corporation. Students pursuing a bachelor’s degree in business administration learn about:
• Forecasting,
• Strategic planning,
• Analysis and entrepreneurship.
These skills are necessary for success in a fast-paced business world and they enable graduates to make meaningful decisions for their companies. Both business administration and management include directing an organisation’s activities. Students studying these fields will be taught topics such as:
• Economics and finance
• Strategic management
• Human resource management
• Statistical analysis
As an organisation increases in size, the roles and functions evolve to become more technical and complex. While there are strong parallels between business administration and business management, there are also significant differences between the two career paths.
Whether or not you will be a success at business school will be determined by the many factors mentioned above – from choosing the right career path to how you manage your day-to-day life as a business student. It’s always advised to seek career guidance and advice from people with more experience if you are not sure what to do next.
