Business Studies is among the broad subjects in Social Sciences. It opens the study field to hub of specialities such as Accountancy, Finance, Marketing, Human Resource Management and more.
Know-how of Business Studies is bound to prepare you well in today’s competitive business sector. It enables you to adapt to the technological developments in businesses and economics ups and downs. It provides knowledge about planning, execution, supervision, analysis and functioning of a business enterprise.
History of Business Studies?
The term Business Studies in itself indicates that it refers to all business-related aspects. Business has been existence since a very long time and the study of business has a long history too.
Chanakya or you may know him as Kautilya, was a teacher, philosopher, economist and Royal advisor of king Chandragupta Maurya. He wrote his own principles for administration, politics and business or economics as well.
However, the subject matter got flourished at the time of Peter F. Drucker. He is known as the Father of Business Studies. His ability to predict management sense was commendable. He wrote tons of books on various business processes.
Subdivision of Business Studies
Business Studies combine elements of Accounting, Marketing, Finance, Economics and organizational studies as well.
Every business organization has to manage its economic resources effectively. It has to build or purchase its own machinery, buying raw materials, paying labour cost and so on. It has to utilize the available resources in the best possible way. Accounting information is required to enable businesses to work with ease. It enables them to keep a track of incomes and expenditures, thus helping them make informed decisions.
Financing plays a vital role in Business Studies. It provides funds for business activities. It may then be used for investing or purchasing purposes. Business studies enables us to know about the financial institutions. As in India RBI is the regulator of entire banking or financing of Indian rupee.
There are thousands of ways to promote business. Marketing is a broad activity performed by businesses or companies. It is used in order to promote the buying and selling of service or its product. Thus, business studies helps to know the marketing techniques too.
Organization studies is a part of business studies itself. It helps us to understand how organization operate, how they change overtime and most importantly how they affect society. It studies the broad vision of organisation and their role in our society.
Scope of Business Studies
Studying business studies entails communication skills. As you got to write papers and give presentation mostly.
It provides us with a broad view of how business actually work by relating it to the real world. It enriches our knowledge about outside world.
Due to its real-life applications, it becomes easy to understand the subject matter. It has a high level of case- based learning. It provides us with the practical know-how of businesses. You could gather the aptitude required to work in any of the industry. It studies how organizations make decisions, how they operate and how they present themselves in outside world. In order to start a new business venture, one should know whole lot of business activities. Now, as we are in the world of business, we could get interested in starting over own venture at any time.
With the proper business knowledge, it would not be easy for anyone to deceive you. It creates awareness about the business world. Even if you want to hold a management position or become self-employed you need some sort of knowledge of business.
What are the benefits of Business Studies?
Various skills are gained from a degree in Business Studies. Some of these are listed as below.
Strong communications skills
What are the most employable courses to specialize in Business Studies?
Some of the top employable courses are:
Accounting and Finance
Accounting and Business Management
What subjects go well with Business Studies?
The subjects that can be clubbed with Business Studies to enhance its scope are: Law, Accounting, Mathematics, Statistics, Politics and Psychology.
Which sectors are available to work for Business Studies Graduates?
Business Studies graduates have opportunities to work in several different industries and domains. Some of these sectors are:
Many more work opportunities are available for Business Graduates, even where the work is not typically associated with business in general.