Entrepreneurship Bachelor’s Degree Online
Is an Entrepreneurship Degree for You?
Entrepreneurship is the practice of designing, developing, and initiating new business ventures. In entrepreneurship programs, students study business practices like marketing, financial planning, budget management, and product promotion. They learn how to identify business opportunities and develop those opportunities for profit. Students are taught to apply their skills in corporate environments as well as independently owned businesses. These types of bachelor's degrees are often offered within a business administration major, with the option to specialize in an area like entrepreneurship.
Advice for Earning Your Entrepreneurship Degree Online
Most universities offer online degrees in management, finance, or an interdisciplinary construct that lets you mix business administration with other corporate training, including entrepreneurship. Because of the wide applicability of the degree, many online institutions offer both undergraduate and graduate degrees in the field. It's possible that some employers might be more skeptical of a degree from an online university than they would a degree from a more traditional school, but the best way to combat these worries is to make sure that your school has been accredited, preferably by a regional accrediting body. Most business degrees are theory-focused, which is to say that the work is largely one of research, writing, and analysis, so it's highly feasible to do all of that online without any obstacles. You should also look into local business to see if you can enroll in an internship that will allow you to apply what you've learned into real-life practice.
Required Courses
Any degree program designed to instruct students in the finer points of entrepreneurship will cover the same basic information in terms of business creation, management, and planning. Starting and/or maintaining a business requires a solid foundation in finance, accounting, management, and a variety of other detail-intensive courses designed to provide students with the ability to think on their feet when it comes to problem-solving. You'll also focus on human psychology, specifically the way it relates to intra-office interactions and how employees relate to their superiors.
Courses in organizational behavior are fantastic because they allow degree-holders to understand how people work within groups and what kinds of motivation create the best working environment. You'll also take at least one course in business law and ethics; the goal of this elective isn't to get you a J.D., but to help you become familiar with the history of legal business practices, the modern parameters for entrepreneurs, and the kinds of ethical situations business owners face daily. Ultimately, courses in entrepreneurship provide a broad framework for understanding the way businesses work and work together.
Common Career Paths
The good news about studying business management and ownership is that the skills you'll acquire are so broad-based that they can be applied just about anywhere. Many students of entrepreneurship decide to start their own businesses using the knowledge they've acquired, but that's just one possibility. Common career paths include (but are not limited to):
- Business Management Consultant
Business management consultants use entrepreneurial practices to find ways to improve a company's efficiency and increase profitability. They may help develop plans to enter new marketplaces or implement strategies to remain competitive in old ones. They also determine required resources, project budgets, possible problems, and courses of action. These types of consultants often must conduct presentations to inform executives of their findings and generate support to pursue specific business opportunities. Some management consultants may assist with reorganizing corporate structures, determining staffing requirements, controlling costs, and worker productivity.
According to the U.S. Bureau of Labor Statistics (BLS), employment of these types of consultants is projected to increase 24% by 2018. The BLS reported that in May 2008 the median annual salary for this occupation was $73,570, although salary largely depends on education, experience, location, expertise, and employer size.
- Small Business Owner
Small business owners use their knowledge of a particular industry and entrepreneurial abilities to start up their own companies and grow them for profit. They are responsible for obtaining their own financing, often in the form of loans or investors. They devise plans to build a client base and implement strategies to make it successful. Business owners are also initially responsible for the management of daily operations such as hiring qualified employees, establishing policies, keeping track of finances, providing customer service, buying advertising, and coordinating company activities. Business owners often work closely with other business professional such as management consultants, financial analysts, bookkeepers, investors, and bankers, as well as their own employees and customers.
According to the U.S. Bureau of Labor Statistics, the industries projected to increase the fastest by 2018 include management, scientific, and technical consulting services; home health care services; personal care services; and computer systems design and related services. The amount that owners make widely differs considering that many tend to use their income to invest in the business. Payscale.com reports that the average annual salary of small business owners ranges from $19,653 to $73,250.
- Business Executive
Business executives establish an organization's goals and objectives, and then develop strategies that will ensure that they meet them. They set the tone for an organization's overall direction and are responsible for day-to-day operations, supervising department activities, and increasing productivity and profitability. Job duties are typically related to the establishment of administrative procedures, meeting financial goals, ensuring proper use of resources, and overseeing budgets and investments. These types of executives often work with other executives, managers, and personnel within financial, marketing, human resources, and production departments. While the majority of their work day is spent in an office environment, business executives also spend their time in meetings, conferences, and traveling to other locations.
According to the U.S. Bureau of Labor Statistics (BLS), employment of these types of executives is expected to neither increase nor decrease, but it is likely that there will be more positions available in fast growing industries such as health services, professional services, financial activities, and information. The BLS reported that in May 2008, the median annual salary of executives like general and operations managers was $91,570.
