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A Look at the Future of Business Administration


February 27, 2012 http://www.southuniversity.edu/whoweare/newsroom/blog/a-look-at-the-future-of-business-administration

Welcome to the fourth installment in our blog series taking a look at the future of some the occupational fields you’ll find here at South University Online Programs. Today, we’re going to be looking at some trends and career outlooks in Business.

Business

When you pursue a career in business, there are a wide range of areas that you could focus on. From accounting to marketing to finance and a number of other fields, people interested in business have a lot of options to choose from. At South University, for example, our Bachelor of Science in Business Administration offers 11 specializations:

  • Accounting
  • Construction Management
  • Management and Leadership
  • Marketing
  • Finance
  • General Business Administration
  • Human Resources Management
  • Management Information Systems
  • Supply Chain and Logistics Management
  • Hospitality Management
  • Real Estate

So, what is the area that’s right for you and what does the future hold? There are a lot of sources for this type of information, but a great resource is the Bureau of Labor Statistics (BLS).

Let’s just take a look at some of these fields and where they’re expected to be heading:

Accounting
“Employment of accountants and auditors is expected to grow by 22 percent between 2008 and 2018, which is much faster than the average for all occupations. This occupation will have a very large number of new jobs arise, about 279,400 over the projections decade. An increase in the number of businesses, changing financial laws and corporate governance regulations, and increased accountability for protecting an organization's stakeholders will drive job growth.”

Construction Management
“Employment of construction managers is projected to increase by 17 percent during the 2008–18 decade, faster than average for all occupations. Construction managers will be needed as the level and variety of construction activity expands, but at a slower rate than in the past. Modest population and business growth will result in new and renovated construction of residential dwellings, office buildings, retail outlets, hospitals, schools, restaurants, and other structures that require construction managers.”

Human Resources Management
Employment is expected to grow much faster than the average for all human resources, training, and labor relations managers and specialists occupations. College graduates and those who have earned certification should have the best job opportunities.

Overall employment is projected to grow by 22 percent between 2008 and 2018, much faster than the average for all occupations. Legislation and court rulings revising standards in various areas—occupational safety and health, equal employment opportunity, wages, healthcare, retirement plans, and family leave, among others—will increase demand for human resources, training, and labor relations experts.

What about the future of business careers themselves? According to the opinion of Lena Bottos, director of compensation at Salary.com as reported in msnbc.com:

“In business, professionals with international experience or knowledge — especially in finance or law — will be hot as the emphasis on global trade and business grows, Bottos said. Companies will navigate tax codes, laws, work regulations, environmental regulations and ethical questions worldwide.”

While some of these areas are covered above, you can see the diversity of opportunities available to individuals seeking to pursue a career in business. So, where can you look for even more information on business careers?

If you’d like to learn more about the business degrees offered at South University, please visit our main business page. You might also like Msnbc.com’s special report on the Future of Business, which covers a lot of interesting articles and features on what may lie ahead. Also, the Bureau of Labor Statistics covers the outlook for a wide range of business careers fat their site.

We hope this post has been helpful to you, stay tuned for part 5 of our blog post series as we look at the future of legal and paralegal careers.

Tags: career series business administration

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