Rationale Essay for a Degree Program in Business Management and Economics

The ever-changing business world has created the need for more expertise and talents in effective business management. Given the changing demand, the degree program I choose to pursue is an Associate of Science with a concentration on Corporate Management and Business Environment. My registered area of study is Business, Management, and Economics with interest in identifying the common business challenges and their possible solution. I also hope to learn how to instill skills, values among business players in the society so that they can contribute towards the development and growth of their business.

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Before settling for the above degree program, I checked the catalog for four different institutions where Business Management and Economics is taught. One is the Saunders Trade and Technical School where to achieve an Associate of Science degree in Business Management, the necessary courses such as Principles of Business Management, Human Resource Management, Business Ethics, and Introduction to Psychology. I also checked the catalog for the University of Phoenix which offer a course in Organisation Behavior and Group Dynamics. Another one was St. Johns University which provides a course in Principle of Management and another in Critical Thinking. Finally, was the Memphis State which offers a course in Introduction to Macro & Microeconomics.

Aside from reviewing the college catalog, I also undertook an online search for articles on attributes of an effective business manager. According to Kohail et al. (2016), a good manager should have adequate knowledge of business management and economics. They include knowledge in effective human resource management, business laws, business ethics, and general business management. Therefore, to become an outstanding business manager, I will have to study a degree program in business management and economic theory because it avails all those knowledge and skills.

Aside from improving my management skills, studying the degree program will enhance my ability to making the right life decision. To complete the degree program, one should also consider some general learning causes such as Critical Thinking, Introduction to Psychology, and The College Experience. These courses not only improve one's ability to tackle business problems but also to address other personal challenges we experience during our normal life. By studying the course on College Experience, I would expose myself to common life problem and their resultant solutions.

The decision to pursue the degree program was also influenced by the prevalence of failing ventures in the environment. When I interact with people in society, they complain about the inability of the business to ensure a going concern. Most of the failed business ventures attribute their failure to lack of management skills (Arasti, 2011). The owners of those businesses come up with good entrepreneurial ideas, but they lack the knowledge and expertise to see them through to success. Other business ventures collapse due to lack of adequate financing to fund their operations (Arasti, 2011). The owners lack knowledge of tools of sourcing finances for a new venture such as a business plan. Therefore, by undertaking the above degree program, I would conduct a course in business writing which exposes me to ways of drafting a business plan for sourcing finance for a new venture. With that knowledge, I will be able to tackle the problem of failing enterprises. Finally, other business fails because of their failure to adjust to economic conditions such as inflations, changing supply, and consumer behaviors. Having adequate knowledge in Economic will aid in addressing those economic situations.

References

Arasti, Z. (2011). An Empirical Study on the Causes of Business Failure in Iranian Context. African Journal of Business Management, pp. 7488-7498

Kohail, Y., Saida, Y., Obad, J. & Soulhi, A. (2016). The Qualities of a Good Leader. What Does It Mean? Lessons Learned from the Undergraduate Business Student's Perception in the Kingdom of Morocco. International Journal of Business Management