What Business Degrees Mean in the Modern World
Imagine it’s 2013. The iPhone 5S was just released and it's the first model with Touch ID, making it easier for consumers to navigate platforms and make purchases on their mobile devices. Physical format audio sales (mainly CDs) are still higher than revenues for digital streaming services like Spotify, and Alexa is still being perfected at Amazon.
Today’s business degrees are vastly different from when your grandparents were in school, and it’s not your older sibling’s business world, either. A variety of industries have undergone significant changes in the past decade alone, and they don’t seem to be slowing down any time soon. So, how can you prepare to meet modern business demands?
Factors Driving the Pace of Change
The world was already experiencing major transformations a decade ago. But recent events and innovations have continued to push the limits of what’s possible, including:
The Growth of Artificial Intelligence
Key business tasks are more automated than ever, and businesses in a variety of industries are continuing to evaluate areas where they can leverage AI to optimize processes and save time. But, contrary to popular belief, those changes aren’t necessarily leading to fewer jobs—just different ones.
The COVID-19 Pandemic
The pandemic changed how people work, driving a larger portion of the workforce to remote and hybrid positions. In addition, supply chain issues that began with the pandemic sparked conversations about manufacturing processes and supply and demand, and even more people turned to online shopping and delivery services.
Increased Reliance on Data
In 2010, the total amount of data created, copied, captured, and consumed was 2 zettabytes (1 zettabyte equals 1 trillion gigabytes). By 2023, that number is expected to grow to 120 zettabytes. Business decisions have been data-driven in the past, but they’ve never had so much data to work with. This is fundamentally changing how businesses work.
The Most In-Demand Fields in Business
Business innovation has been in overdrive to keep pace with these changes in recent years. Not only has that shifted how companies operate, but it’s changing who they hire (and the business degrees they’re looking for). Here are some of the most current, in-demand careers in business:
Data scientists analyze and interpret data to provide businesses with actionable opportunities and insights. Between 2021 and 2031, the US Bureau of Labor Statistics (BLS) expects the need for data scientists to climb 36 percent.
Medical Services Managers
Health care is in high demand, and roles in the industry are expected to keep growing. In particular, medical and health services managers, who run the business side of medical facilities, are expected to rise 28 percent between 2021 and 2031.
Another fast-growing field, logisticians help coordinate an organization’s supply chain. The BLS anticipates this role to grow 28 percent between 2021 and 2023 as well.
How APU Can Set You Up for Success
To help prepare students to succeed in today’s quickly evolving business world, Azusa Pacific University has added three new undergraduate business degree programs and offers business microcredentials.
Designed for students who want to help businesses better use data to reach their goals, the Business Analytics program focuses on the practical skills needed to meet modern business demands.
Digital Marketing and Design
The Digital Marketing and Design program prepares students who want to leverage their creativity to help businesses engage digital consumers.
Human Resources and Organizational Development
Yet another rapidly expanding field, the Human Resources and Organizational Development program prepares students for careers in human resources so they can help businesses find, resource, train, and manage a new generation of employees.
Keeping up with the business world also means continuing to invest in yourself. That’s why APU offers a number of business microcredentials to give you the tools you need to stand out in your field. To learn more, check out the list of available business microcredentials and start dreaming bigger.
Posted: April 17, 2023