Applied management is the science of making effective decisions in the workplace.
Applied management students have a wide variety of career options following graduation, ranging from positions in the manufacturing industry to the financial services sector. Also referred to as management science or operations research, the field of applied management studies how decisions are made in the workplace. As a result, students with a bachelor's degree in applied management can utilize their skills and education in several different sectors of a business or organization.
Function
Professionals who hold a bachelor's degree in applied management can seek careers in several areas of a business, including operations, human resources, finance and general administration. An applied management major may acquire a position as a human resources manager and be responsible for recruiting, interviewing and training new hires. Professionals also use their knowledge in applied management to identify and secure new business for companies, or develop advertising campaigns for the marketing department. Bachelor's degrees in applied management also prepare students for careers in administration services, where professionals oversee the management and organizational structure of offices.
Education and Skills
Students working towards a bachelor's degree in applied management take courses in areas including mathematics, business theory, management, marketing, accounting, business ethics and public relations. Learning delegate tasks, supervise employees and oversee companies is typically the focus of most four-year degree programs in applied management. During their program, students also develop critical skills in project management, leadership, oral and interpersonal communication, and financial analysis. Some programs also offer students the option to concentrate in areas such as performance management and entrepreneurship.
Potential
The Bureau of Labor Statistics expects that job growth for chief executives and general managers across all industries will remain stagnant during the 2008 to 2018 decade. Although bachelor's degrees in disciplines such such as applied management will be a plus for managerial positions that require decision-making and strategic planning on different levels, overall competition for jobs will be intense. Industry segment will also play a role in the availability of executive and general manager positions. For example, the bureau projects that job growth will be positive for decision-makers in health care organizations, while employment opportunities will decline in manufacturing companies.
Salary
Average salaries for professionals with a bachelor's degree in applied management vary widely due to the variety of positions available within the field. For example, an applied management major who becomes a financial manager could expect an average salary of $113,730, according to a May 2009 report by the U.S. Bureau of Labor Statistics. Conversely, the bureau also reported that human resources, training and labor relations specialists earned an average salary of $59,070 during the same time period. Managers in human resources averaged significantly more, earning $105,510. Within the area of general management, chief executives reported an average annual wage of $167,280. General and operations managers earned an average salary of $110,550 per year.
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