Small business management courses are taught throughout the world these days. You can do a small business management course online too. In fact, these online courses are more popular than traditional class learning courses. It happens because of two factors. These factors are easy to access and cost-effectiveness. Small business management courses focus on the aspects that are essential for running and optimization of business activities. It includes responsibilities, information management, and decision making. It focuses on building interpersonal relationships with the customers to boost the business and maximize the profit.
Small business plays a lifeline role in the development of a country. It contributes to the countries’ economy in the shape of growth, innovation, and providing job opportunities. It provides opportunities for people who are not employed by large businesses and corporations. Let’s understand the importance of small businesses in American society.
For Further Reading: BOSTON UNIVERSITY ONLINE MBA – BECOME A 21ST CENTURY LEADER
Importance of small businesses in American society
Small businesses play a major role in the American economy. There are about twenty-seven million small businesses that are operating in the US and make 50 percent of the Gross Domestic Product (GDP) of the country. Millions of people have started the small businesses in America which shaped the business world we know today.
Apart from the sharing economy, these small businesses complement large organizations by providing necessary components, services, and distribution. They also contribute to socio-economic development in specific areas. They create jobs in the market, make the base for innovations, and diversify the whole culture by providing opportunities to people, including women and minorities to gain financial independence. These points are explained below in detail.
I Job creation
The major part of the American workforce is working in a business organization that has less than five hundred employees, regarded as small business organizations. Small firms hire and fire more often than big businesses, but fortunately over time more job opportunities are added by these small firms as a comparison to firing the employees, due to the expansion of firms and starting of new firms with time. A strong economy encourages people to take business initiatives and expand the businesses which are already operating which results in boosting of economy and as a result, new job opportunities are created. The US is the prime example of such a phenomenon.
According to the Small Business Administration (SBA), small firms register more patents than do large business organizations. Small businesses in the US are more active in finding new techniques for doing old things. They tend to invent new products and improve existing ones. According to the SBA study, the environment of small scale businesses in America is about 13 times more innovative as compared to the environment of large organizations which largely discourages innovation. That is why most large organizations in the US responding by downsizing to look like small organizations and encourages innovation.
III Support to Economy
Small businesses play an important role in improving the overall condition of a country’s economy. It provides jobs to unemployed people, makes innovation for the expansion of the business. The countries even like the US depend on small businesses for their economic growth.
IV Opportunities for women and minorities
Small businesses in the US play an important role in allowing opportunities especially to women and minority to gain financial success and fulfill their dreams. The previous two decades have seen a major increase in the number of small businesses owned by minorities and women, although the majority of businesses are still owned by White males, but this trend is changing and going on the right track.
Top Institutes Which Provide Small Business Management Course
Online courses are a great way to increase your employment opportunities. They add extra flavor to your CV and a great way to fill your extra time in something productive.
There are a lot of good universities that are offering online small business management online courses but the following are the world top institutes that are offering these courses. the
- Harvard University
- University of California, Irvine
- Georgia Institute of Technology
- 4.Ecole Polytechnique
- Michigan State University
- 6.California Institute of the Arts
- 7. Hongkong University of Science and Technology
- 8. University College London
- 9. Massachusetts Institute of Technology
These are the world’s best universities that offer business management courses and people from all around the world dreams to enroll in these universities.
Students Who are Generally Interested in Online Business Management Course
The concept of traditional classroom learning has changed drastically with the introduction of online courses. It is not necessary to present physically in the class for taking courses and degrees from the university. All you need is an electronic device such as a laptop, smartphone, and a stable internet connection and you are ready to take online classes.
The following are some qualities of online learners.
Online classes are not for those students who do not have a good self-discipline level. In traditional classroom learning, lecturers hold the students accountable while in online courses students have to rely on their skills and discipline to do their work in the right way. It includes a schedule for classes and assignments. Schedule and to-do lists are very essential for online learners.
b) Technologically competent
Online learning is not rocket science to learn but needs a basic level of competence with electronic devices and related technology is necessary because if you face any issue you won’t have anyone to resolve it for you.
c) Easily Distracted
Online courses are suitable for those students who are easily got distracted in classrooms. If you perform better while sitting alone in a quiet place then online learning is certainly the best option for you.
d) Adult learners
Online courses are also good for adult learners to take these courses and experience success in the upcoming future. These courses are made in a way to provide convenience and flexibility to people who are doing jobs or other household responsibilities. Online classes allow these adult people to make such a schedule that meets their requirements and enable them to make a balance between their studies and other responsibilities such as job or family responsibilities.
Job Or Career Prospect After Passing A Small Business Management Course
Students have done a small business management course, has a very bright future in terms of jobs and career. These courses enable you for careers and jobs in a variety of small and large businesses. The following are some examples of careers for small business management degree holders.
You can initiate your startup in the shape of a company and sell a product or idea for profit. It is the ability to develop, organize, and operate a business enterprise along with the uncertainties of loss. The most prime example of entrepreneurship is starting a new business.
b) Small business Financial Service
You can work as a consultant for different businesses to keep in order the finances and to make sure that the business is earning money and not losing it.
c) Administrative assistant
You can work as an Administrative assistant after taking the small business management course. The job responsibility of an Administrative assistant is to schedule meetings, making phone calls, update databases, make invoices, and take care of different types of emails. They are also responsible for clerical duties which help the business to run smoothly.
d) Customer service officer
The prime responsibility of the Customer service officer is to serve and satisfy the customers and clients. These officers listen to the customer’s question and reservation, placing orders, providing detailed information about different products and services. Patience and understanding abilities are very essential for this position because the customer service officer deals with customers’ complaints and inquiries and to make sure the issues are resolved.
e) Sales officer
An online small business management course can also help you to work as a sales officer. These people are required in almost all the businesses because a business must be dealing with a product, service, or ideas, and therefore they need people to promote those products or services to boost sales and make a profit. These officers satisfy the customer needs and want by providing them the desired product and processing the transactions. Sales officers also earn commission apart from their salary when they meet the given target.
f) Personal banker
A personal banker handles the client’s whole transactions with a bank. He manages loans, accounts, and different investments. They answer the client’s question and helps them to make the right decision regarding different investments.
g) Business analyst
You can also work as a Business analyst after taking the required courses. A business analyst job responsibility is to gather all the relevant data about problems and procedures in a company. He observes the collected data and makes possible solutions. New procedures and techniques are made by the recommendation of senior managers and close study of the company documents.
Course Structure and Course Fee
There are a variety of courses which are taught by different universities in the world to make the students understand about different skills and technique of small business management. Some courses are discussed below in detail.
a) Introduction to Business
Introduction to business talks about the scope and nature of most businesses. It provides detailed information about an important phenomenon such as entrepreneurship, customer satisfaction, ethics of doing business, global business, and managing change.
b) Creating new business
This course is designed for individuals or partners who want to make a new startup. It gives an in-depth analysis of starting and managing new businesses from idea creation to its operation.
c) Developing a business plan
This course talks about the foundation of successful businesses. It gives an in-depth analysis of developing a business plan such as its products or services, and how it will generate profit, its leadership, staffing, financing, and other essential information that are included in the business plan.
d) Entrepreneurship and new business formation
It talks about a new business venture and its complexities. It also talks about the important factors for turning a raw idea into a profit-making business.
e) Establishing a successful business
This course talks about business owners and their decision making, it explains the business structure and strategies that are essential for the success of the business.
f) Financial tools for business growth
This course focus on small businesses, it covers all the angles of financial management and provides tools and techniques to grow the business.
g) Fundamentals of Business administration and Management
Fundamental of business administration and management gives a detailed analysis of the most elements of business such as people, operations, strategy, accounting, finance, and marketing and its management.
h) Legal compliance and negotiating skills
It is so vital for a small business owner to learn and understand the legal procedure and negotiating skills to be successful in the fraternity of business organizations. This course through the light on key legal regulations and makes important comments on negotiating skills.
Different universities have different fee structures according to their rules and regulations. It also depends upon the facilities they provide to students taking online classes. But below is a rough estimation of the cost of a small business management course online.
The online fee structure of top universities for business management courses for one credit hour is $250 usually. Universities usually allows 36 credit hours for a course in a semester. So if we multiply 250 with 36, we will get the tuition fee for the whole course, which becomes $9000.
In this modern era, online courses are widely used as an alternative for traditional classroom learning, because it is more convenient and flexible as compared to traditional learning. Online courses provide easy access to study material, discussions and instant feedback received given to students by the instructor. Online small business management courses are more in trend these days. Top universities from around the world are now offering online small business management courses because the majority of people now wants to initiate their own business to earn profit and fulfill their needs and dreams. The majority of people are busy with jobs and other responsibilities and do not have much time to physically attend the class and earn a degree, so it is more convenient for them to sit at home in their spare time and take small business management courses.