A business degree is undoubtedly one of the most sought-after qualifications in many companies, corporations, and even start-ups. Due to the versatility of applying business knowledge in various industries and fields, having a qualification in business management and/or business marketing is much valued in this economy. Both areas of business offer different career opportunities, such as sales manager or head of project management, depending on your interests, skills, and career objectives.
Although management and marketing have similarities in the world of business, there are also significant contrasts between the two in terms of job outlook, qualifications, and skills required to succeed in the respective roles.
What is Business Management?
Having the “perfect” marketing campaign is not enough if an organisation and its people are not properly managed. That is what business management takes charge of – from managing resources to developing strategies and arriving at decisions that have an effect on the overall course of the business.
Business managers are in charge of supervising and leading teams, overseeing budgets, and ensuring that the organisation's goals are met. Executive director, operations manager, and general manager are a few of the popular roles in business management that offer promising career opportunities and a good salary.
What is Business Marketing?
Almost all of the products or services available out there are created, promoted, and sold through business marketing processes. Understanding consumer behaviour, conducting market research, and developing marketing strategies to effectively reach target audiences are all part of the business marketing process.
Business marketers are in charge of developing and implementing campaigns, as well as tracking their success and adjusting them as needed to achieve the best results. Marketing manager, product manager, and digital marketing specialist are among the top job titles in business marketing that offer attractive pay.
The job outlook for business management and business marketing varies according to industry, company, and specific roles. However, the job outlook for both is generally positive as demand for business professionals continues to surge.
A career in business management may call for a bachelor's degree in business administration, management, or a related field. Employers may also prefer candidates with management or leadership experience. Advanced degrees, such as a postgraduate diploma, can also be beneficial for those seeking management positions.
On the other hand, a bachelor's degree in marketing, advertising, or a closely related field is often a requirement for business marketing. Employers may also prefer candidates with marketing, communication, and data analysis experience. Advanced degrees or certifications in areas such as market research or digital marketing can also prove beneficial for those seeking to advance their career in business marketing.
In the world of business management, professionals must have strong leadership, communication, and problem-solving skills to manage teams and operations well. To effectively make informed decisions and direct the organisation, they also need to be knowledgeable in areas like finance, operations, and human resources.
When it comes to business marketing, professionals in this field need strong analytical, communication, and creative abilities in order to effectively develop and implement marketing strategies. They must also be proficient in digital marketing tools and platforms such as social media, email marketing, and search engine optimisation (SEO).
Business Management or Business Marketing: Which is Right for Me?
Ultimately, the decision between pursuing a career in business management or business marketing lies in your own interests, skills, and professional goals. When deciding between these two opportunities, it is critical to examine your strengths and passions, as well as your personality type.
If you enjoy strategic planning, managing teams, and working with budgets and financial data, then business management may be a good fit for you. With a career in business management, you'll be responsible for overseeing a company's operations and ensuring that everything runs smoothly.
Singapore Institute of Management offers a highly flexible Graduate Diploma in Business Management (E-Learning) that equips you with the knowledge and skills to succeed in this field. The programme is entirely online, allowing you to study at your own pace, and built with modules designed for career acceleration in the fast-changing world of business in the Digital Age.
If you are a problem-solver who enjoys market research and developing marketing campaigns, then business marketing is a good option. A career in marketing involves promoting products and services to customers, and requires a keen understanding of consumer behaviour and market trends.
Interested in upskilling in business management from the comfort of your home, without having to pause your career? Get a free, no-obligation eligibility check from our Student Advisors today.