Although the modern world has depended on commerce for centuries, the rapid change in the world business climate has created major opportunities for Americans with business training. Government economists estimate the entire worlds purchasing power at nearly sixty-six trillion dollars. Consumers and companies in the United States command almost $14 trillion of the global economy. Meanwhile, growing economies in China and India have created new demand for goods and services while challenging American companies to overcome cultural and geographic challenges.
Globalization has changed business so significantly over the past decade, even experienced professionals find themselves seeking training to help them navigate the new world economy. At the same time, developments in technology and transit make it easier for businesspeople with the right training to break in to new markets and to explore entrepreneurial ideas. Government labor researchers have identified three areas where a modest investment in training can lead to major earning potential.
Accounting as a Career
Offer: Search for Schools
The topsy-turvy economy and the ease of offshoring jobs have caused many business professionals to rethink their careers. Accounting professionals dont share similar worries, however. While some basic accounting tasks, like data entry, can be handled by overseas workers, the face-to-face nature of many accounting jobs insulate this industry from most economic pressures. With the right training, accountants can earn over $54,000 per year in many U.S. cities.
Accounting professionals with strong ethical standards and the right combination of training and experience can take their careers to the next level, thanks to recent federal legislation. Reacting to accounting scandals and taxpayer demands, lawmakers increased the reporting responsibilities for many medium and large businesses. The huge demand for trustworthy auditors has created lucrative job opportunities for many accountants. Depending on workload, travel requirements and experience, many auditors with masters degrees can earn between $40,000 and $80,000 per year.
Management and Administration
Todays distributed workforce requires a new type of leader. A variety of business degree programs, included the coveted M.B.A., cater to everyone from industry veterans to eager generalists. Line workers ready to move up the career ladder can often earn business degrees part-time, either on campus or via distance learning courses. Leveraging industry experience with a bachelor's or master's degree in business often results in significantly higher earnings. For example, government statistics indicate that health care workers like nurses and office assistants can often earn annual salaries of over $73,000 after completing advanced business degree programs.
Even experienced managers can benefit from refresher courses in communications, leadership and global commerce. According to national surveys, many long-time professionals have traded corner offices for new roles as independent analysts and business consultants. While typical sales managers can often earn $25 per hour, many business analysts net $36 or more per hour. Likewise, government statistics show that many companies prefer to rely on independent business consultants for advice, with opportunities in the field growing far faster than similar jobs as managers and business leaders.
E-Business
No single element has revolutionized business over the last two decades as much as the Internet. Ten years ago, a minority of Americans discovered the convenience of ordering goods and services online using dial-up connections. Todays consumers now rely on high-speed networks for product advice as well as easy ordering and customer service. Running any kind of business in todays connected economy requires an understanding of Internet technology as well as insight into the changing demands of customers. At the same time, leveraging the Web to streamline business processes can make a major impact on a companys bottom line.
A commitment to continued professional development separates successful business professionals from the also-rans in the e-business sector. Computer programmers and networking engineers who invest in business training can learn how to navigate between both of their worlds and earn significant incomes. According to government statistics, computer engineers with business degrees frequently earn over $100,000 per year. Meanwhile, traditional business leaders who enroll in computer courses can learn how to effectively manage and develop teams of tech-savvy workers. As Internet technology changes significantly every few years, clever managers understand the importance of enrolling in certification programs and using college courses to stay on top of industry developments.
Training Is Essential
As with any discipline, the more that you know, the farther you will go. Regardless of industry sector, most employers expect incoming managers to possess at least a basic understanding of marketing, economics, bookkeeping and investing. Business school courses, marketing seminars and technology classes are now as convenient as the nearest Web browser. When it comes to business, mastering the basics can be the difference between dismal failure and meteoric success.
