Question

Importance of studying business​

Answer 1

Business majors learn how to research information using quantitative skills, and then develop ideas based on that information to solve problems.

Business also involves people — customers and employees — so communication and interpersonal skills are vitally important as well.

Answer 2

Business activity affects the daily lives of all people, as they work, spend, save, invest, travel, and play. Business influences jobs, incomes, and opportunities for personal enterprise and development. Business has a significant effect not only on the standard of living and quality of life, but also on the environment in which people live.

At some point in their lives, all students will encounter the world of business. They, therefore, must be prepared to engage in business activity with confidence and competence, by understanding how businesses function and the role it plays in our society. Students should familiarise themselves with the skills that are required in the business environment and the impact these skills can have on their own lives and on society.

Studying business involves not only involves studying individuals, communities, and organizations, it involves assessing their needs and problems, as well as generating solutions. This subject will build a strong foundation for those students who wish to move on to further study and training in specialised areas such as management, international business, marketing, accounting, information and communication technology, or entrepreneurship. It will also provide practical skills for those who wish to move directly into the workplace.

Business studies also provides students with a new, practical context for many of the subjects they have studied, including mathematics, science and technology, language, and social studies. It will help students to recognise the relevance of these subjects as they are applied in the world of business – for example, in helping people with their needs, challenges, and problems; and in creating products and services that help to improve the quality of life.

Business studies demonstrates how a variety of areas of study can be combined in productive activity. It provides an increased understanding of mutual dependence through business system, as people becoming increasingly dependent on others. Finally, as the business environment is dynamic and ever-changing, it can be an important tool to develop skills to cope with change.