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Business is a popular field of study among students because of its versatility. You can venture into any industry with a business degree. And if you aspire to lead, then you should definitely consider taking up a business management course.
This guide will provide everything you need to know about Business Management, the best universities in Malaysia to study it and the career paths that are out there.
What is Business Management?
The organisation and coordination of company activities is known as business management.
Business managers monitor operations and support employees in achieving their highest levels of productivity.
The scope of responsibilities also involves the most efficient utilisation of the firm’s resources. It includes organising, planning, leading, staffing, managing, and directing a business operation in order to achieve the company’s outlined goals.
Why Should You Study Business Management?
Enhance Your Managerial Abilities
One of the most important benefits of pursuing a business management degree is establishing fundamental managerial abilities that will enable you to be a significant contribution to any organisation.
You will learn and acquire different management skills to adapt to different challenges in the current business and society, allowing you to take multiple factors into account before making decisions.
High Level of Employability
Students who pursue a business management course in their undergraduate studies will obtain highly desired transferrable skills and excellent business knowledge, both of which future employers value.
You will later be able to choose a specialised field and the path of your career as you advance through your business management course.
A Taste of the Business World
A business management course is an excellent way to get started if you do not have any prior knowledge of the field. It will help you learn the fundamentals of management and understand the company better.
It incorporates industry information, including the current market trends, economic outlook, and industry reports
You will be encouraged to apply these theoretical concepts to actual business scenarios, which will help you jumpstart your career after you graduate.
What are the Types of Business Management Careers?
Human Resource Management
Human resource management deals with the recruitment and administration of an organisation’s personnel. This involves wages, employment, safety and welfare, benefits, and other areas of employee administration.
Project Management
Project management is the process of designing, executing, and supervising projects. Project managers focus on acquiring the tools or expertise required to meet both short- and long-term project needs.
Supply Chain Management
Supply chain management is the control of the flow of raw materials to your company from producers, distributors, or other beginning points. These raw resources will eventually be used in the production of items that your company distributes.
Strategic Management
The application of strategic thinking to the role of managing an organisation is known as strategic management. There are many other fields within various business management careers depending upon strategic management, as financial, marketing and operational strategies usually affect a company’s success.
Financial Management
Finding a good balance between profit and risk is the ultimate goal of financial management for the long-term success of a company. Planning, directing and organising a company’s accounting, investment, and other financial operations are all part of the financial aspect of business management.
What Are the Popular Business Management Course Pathways?
After earning your SPM or IGCSE/O-Level qualification, you have the option of enrolling in a Foundation in Arts or Business programme for 1 year or a Pre-University (A-Level, SAM, CPU etc.) course for 1-2 years.
This is typically followed by a 3-year Bachelor’s Degree in Business Management programme.
An alternative is to pursue a Diploma in Business Management, which would take between 2 to 2.5 years.
After completing your Diploma in Business Management, you have the option of going into the workforce or continuing on to a Bachelor’s Degree in Business Management (often enrolling from Year 2 onwards).
So what would your pathway through undergraduate business management courses look like? Let’s have a look at the basic requirements and estimated fees of each undergraduate option.
Diploma in Business Management
To qualify for a diploma, you only need to have 3 credits in SPM/O-Level, including a pass in Bahasa Melayu and History and a credit in English.
Diploma courses usually take between 2 to 2.5 years to complete with tuition expenses starting from RM 28,000.
You have the option to immediately begin your business management career after completing the diploma.
Bachelor’s Degree in Business Management
For degree courses, you will need to have 5 credits in SPM/O-Level qualification, including Bahasa Melayu and History, and the following pre-university course:
- STPM: min. 2Cs
- A-Level: min. 2Es
- AUSMAT/SACE: min. ATAR 55
- Relevant Foundation: min. CGPA of 2.00
- Relevant Diploma: min. CGPA of 2.00
A pre-university course in a private institution has fees ranging from around RM 20,000 depending on the institution. Once you’ve completed your pre-university course, you can then move on to take your Bachelor’s Degree.
The entire duration of a degree is at least 3 years with fee structures ranging from around RM 34,000 a year.
Diploma students who want to continue their studies can do so with a degree course and they begin in Year 2.
Different universities may have varying entry requirements. Feel free to contact us for more information!
What Are the Skills Required in Business Management?
The Ability to Manage and Lead
Leadership and management skills are highly sought out in this field. Having a strong foundation in business management knowledge will equip you for your future career progression.
Even if you are not in charge of leading a team of individuals, these skills are still highly valuable.
Planning, organising, regulating resources, and managing change in an organisation are all management skills that you must know.
Critical Thinking
The ability to think critically is one of the most crucial abilities needed for business management.
You will always encounter complex problems in corporate settings, and solving those problems requires thorough consideration and careful decision-making.
You’ll need to be able to come up with questions that encourage research and reflection, as well as observe patterns and create connections that will allow you to come up with a solution.
Creative Thinking and Innovation
Innovation and creativity are prevalent in the corporate environment today.
Businesses are searching for fresh approaches to grab the attention of customers and dominate the sectors in which they operate.
Whether it’s a tiny adjustment to a procedure particular to your function or a company-wide breakthrough, being creative and coming up with practical solutions is always a substantial advantage.
Communication Skills
Good communication skills are essential in business management.
To have a successful career, you must be able to communicate effectively and professionally in a range of circumstances, including both oral and written communication. The ability to communicate clearly will increase your productivity and that of others.
Top Business Management Universities in Malaysia
Monash University Malaysia
Monash University is one of Australia’s top institutions, ranking among the top 100 in the world.
Monash is a part of the Group of Eight, an association of major Australian universities known for their teaching and research expertise.
Its Malaysian campus is located in Bandar Sunway.
Course offered:
- Bachelor of Business and Commerce
UOW Malaysia KDU University College
UOW Malaysia KDU, with campuses in Selangor and Penang, is part of the global network of the University of Wollongong in Australia.
It has a long history of offering affordable, top-quality higher education to Malaysia and the surrounding areas.
Course offered:
- BA (Hons) Business Management (3+0) With University Of Lincoln, UK
SEGi University & Colleges
SEGi University and Colleges is one of the largest private higher education providers in Malaysia, with 25,000 students spread across 5 campuses.
SEGi believes in supporting promising minds by delivering a well-rounded learning experience, in creating trust within the community, and in making an impact by doing things differently.
Courses offered:
- BA (Hons) Business Management (Major in Business Analytic)
- Bachelor of Business Management (Hons) (3+0) with University of Central Lancashire, UK
- BA (Hons) Business Management (3+0) with University of Greenwich, UK
- BA (Hons.) Business & Marketing Management (3+0) with University of Sunderland, UK
Things You Need to Know About Business Management Career
Keep Investing in Your Own Professional Growth
Being a successful business manager entails having a growth mentality. Providing professional development to your staff on a regular basis will help you boost current employees’ skill sets and contribute to a positive business culture.
Professional development also guarantees that your workforce is up to date on industry trends, technology advancements, and shifting professional standards.
The fundamentals of business management frequently change over time. Understanding management principles effectively may also help identify organisational weaknesses and plans for risk management.
Pursue an MBA
Some individuals choose to pursue a master’s degree in order to increase their chances of landing a high-paying job. It is true that you will likely be one of the top candidates for most business positions available if you have a master’s degree.
One of the most popular options is a Master of Business Administration (MBA). MBA programmes offer its students networking opportunities as well as new skills. MBA is ideal for people wishing to change careers or move higher on the leadership ladder.
Plan Your Time
As you climb higher on the corporate ladder, you will notice quickly that time management skills are essential. Although people in leadership positions always have busy schedules, they also know to include personal time in it.
A properly managed schedule creates a stable routine not just for you but also for those who work with you. You’ll be able to balance work and life better as you get better at managing your time.
Popular Business Management-related Jobs
1. Logistics Coordinator
Logistics coordinators work in almost every sector since they examine and organise the supply chain of a company.
Expect an average Base Salary of RM 33,699.
2. Human Resource Specialist
Human resources professionals recruit, filter, and interview potential hires, as well as arrange newly recruited employees in positions.
They can also be responsible for pay and benefits, training, and employee relations.
The average base salary for this position is RM 48,743.
3. Project Management Specialist
Project management specialists coordinate a project’s budget, timeline, manpower, and other aspects.
For this position, the average base salary is RM 60,000.
4. Business Consultant
Business consultants, also known as management analysts, make recommendations to businesses on how to increase an organisation’s efficiency.
You can expect an average base salary of RM 54,095
5. Operations Manager
Operations managers are in charge of the company’s goods and services production.
They are responsible for several divisions, including buying, warehousing, and production.
An operations manager can earn an average base salary of RM 80,424.
Now that you’ve gotten the gist of what the Business Management Course looks like, you can also head over to our Ultimate Business Studies Guide to see what other opportunities you can explore within this field of study or speak to our counsellors for personalised guidance on choosing and enrolling to a course that suits you the most!