Many industries and professions use business skills regularly. Specifically, any industry or field that necessitates the production or sale of goods and services will need some business knowledge. An important aspect of receiving professional business training is learning what kinds of fields and industries that training will help you find work in. Each industry will have different requirements and expectations for prospective employees, and you should consider these expectations when you start your training. This is true for students who have an idea of what kind of work they want to do and for students who aren’t yet sure what path they want to take after learning business skills.
What is Business?
Business is broadly defined as engaging in commerce through various means of production and sale. It involves a wide range of activities and fields that focus on producing, distributing, promoting, and selling goods and services. Businesses range from small mom-and-pop stores to large corporations and exist in many industries, including retail, technology, healthcare, and education. A business’s main goal includes increasing profit and managing losses associated with market trends, competitors, and other financial risks. Overall, business practices are the driving force of international economic growth and build a more innovative, competitive market. With this in mind, it is easy to see the way businesses shape how countries are run and help improve the lives of the individuals in a given society.
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What Can You Do with Business Skills?
A business education allows you to explore a world of new and exciting career paths. You can become an Entrepreneur and start your own business. This is an ideal way for any passionate, driven individual to use their business expertise. Through a live training option, you will learn how to manage your business finances, strategize workplace tasks effectively, communicate with other departments, and lead a team of employees. Whether you oversee a small operation or a large corporation, being a business owner is a large responsibility that requires strong problem-solving, communication, leadership, teamwork, management, financial, and business skills.
In addition, you could find a job as an analyst with the proper blend of business, data, and financial skills. Many Business Analysts and Financial Analysts are the backbone behind any business and are in charge of assessing risks, providing solutions, and suggesting new courses of action. Specifically, they are tasked with interpreting data and conveying insights from the trends, patterns, and variations in the data sets. You will learn how to assess market trends, read financial reports, decide on the next steps, and increase workplace efficiency through the various forms of analysis you conduct.
Beyond any particular career path, business skills enable you to use various technologies that can be helpful to other fields and job positions. You may learn how to use some of the most widely used coding languages across any industry or field. In addition, many marketing skills are used in industries aside from those that are business-centric. Certain tools, like Microsoft Office or Adobe Creative Cloud, can be used in business or other professional settings. In addition, the skills learned in most business situations are incredibly transferrable. Many of the financial management and communication skills used in business settings can be used in personal situations, such as a monthly budget or while discussing matters with your close relationships.
Common Industries That Use Business
Business skills are incredibly transferable and necessary in many fields. A few of the most common industries that use business skills include retail, finance, and healthcare. Additionally, many business-minded professionals in these fields use business tools such as Microsoft Office and Adobe Creative Cloud applications or analytics tools like Power BI and Tableau. Below you can explore some key industries that frequently hire business professionals and use business-related skills.
Retail
The retail industry is defined by its sale of products and continued interaction with consumers. Retail relies heavily on business practices, such as watching market trends, understanding consumer behavior, marketing products effectively, and increasing profits. Business-minded individuals can work in the retail industry as their skills in forecasting, budgeting, and communicating can be incredibly beneficial. Additionally, many retail professionals negotiate with customers and other professionals, such as suppliers, and use technology that makes setting up ecommerce platforms much easier.
Depending on the position, retail professionals have a range of tasks. Many working as Sales Associates or Managers provide exceptional customer experience, keep track of transactions, maintain the storefront, strategically place products, and inform customers about the brand. They may also oversee more behind-the-scenes operations, such as negotiating with manufacturers, managing merchandise stock, and ensuring target sales are met. Regardless of the specific role, retail professionals will need strong interpersonal skills and a strong attention to detail. They are often proficient in conflict resolution, problem-solving, and communication as well, which are all necessary business skills.
Retail has been affected by the recent boom in the tech industry, which has been the driving force for ecommerce sites. Storefronts (and their owners) that fail to keep up with the changes in business practices may feel the effects more, as technology has not only expanded the way businesses sell goods, it has also changed how consumers interact with the business. In addition, automation has reshaped how businesses keep up with inventory, provide customer service, and manage finances. With all these technological advancements, the retail industry has been revitalized and only those who keep up with the changes will maintain profits. Overall, retail is a dynamic and energizing industry that requires its workforce to be business-minded and tech-savvy to thrive in the competitive market.
Finance
The finance industry includes any entity that handles finances and related data. This includes insurance, banking, investing, and other forms of financial planning. This industry relies on business skills and financial analysis to understand the implications behind economic trends. This leads to greater success, as the market is constantly ebbing and flowing. Aside from financial literacy, these professionals often have profound business knowledge, are skilled in mathematics, can mitigate risks strategically, and know how to communicate with clients, investors, or other business people. Technology also ties into finance, such as the rise in ecommerce platforms, trading benefits, FinTech solutions, and online banking services. These advancements have ultimately changed the way people and businesses handle their money.
Finance professionals can perform numerous job functions, varying in services from banking and insurance to analytics and planning. For example, a Financial Analyst gains insights from data sets and reports to others within the organization with suggestions and projections. A Financial Planner, however, works directly with individuals and families to develop a financial plan for the future, ensuring that they have funds for retirement, investments, real estate, and other financial needs. While both job positions differ greatly, they require financial literacy, strong attention to detail, problem-solving, and ethical conduct. These traits are essential across all financial positions and, arguably, business positions.
Individuals who work in the finance industry generally earn profitable salaries. According to the Bureau of Labor Statistics, job positions in business and financial operations are rather profitable with an annual mean wage of roughly $91,000. While this will vary depending on the specific positions, most finance professionals have steady employment. Roles in FinTech and digital banking services are expanding with the recent rise and continual technological advancements. In addition, the market fluctuates constantly, so the industry needs professionals who can evolve and adapt as necessary. The demand for financial services is unlikely to falter and as time progresses, there will be more job positions available in this industry. This industry offers a plethora of career paths for people with the previously mentioned traits and a knack for financial and business-related concepts.
Healthcare
Healthcare organizations are unique and distinctive institutions. Business skills are useful in the healthcare industry for handling everyday operations, enhancing patient care, managing finances, and allocating resources. Many healthcare managers have similar qualities and skill sets as business professionals, such as being strategic and intentional with decision-making, negotiating with insurance carriers, weighing every option for company progression, and implementing important policies. In addition, many healthcare institutions rely on data professionals to analyze and visualize different data sets. The interconnectedness between healthcare and business is undeniable, but healthcare providers must deliver a balance between the two.
When most think of a hospital, they think of the people who work to administer medications, perform life-saving measures, or diagnose illnesses. However, many people work behind the scenes as well. Many healthcare managers handle the day-to-day tasks and ensure the facility operates efficiently. There are healthcare professionals who work in more business or finance-focused settings. These financial experts will handle the billing, insurance, and other financial information related to the patients and the institution. Healthcare Data Analysts also help physicians with treatment plans, finance teams with budgeting concerns, and organizations manage their marketing tactics. Each role requires a blend of different skills, including clinical understanding, healthcare jargon, technical skills, business strengths, and empathy.
The healthcare industry will see sustained growth throughout the years to come. The Bureau of Labor Statistics indicates that the healthcare industry shows no signs of slowing, with a projected 1.8 million job positions available yearly. With an aging population, advancements in technology, and new diseases emerging, there will always be a need for medical professionals. With that, any business or administrative roles within hospitals and healthcare-related fields will also be abundant. In addition, there are more remote options for healthcare professionals now than ever, such as Therapists and Pharmacists offering telemedicine sessions. Overall, healthcare is tightly bound with other industries, including business and finance, and is an active and engaging field to explore.
Learn Business Skills with Noble Desktop
Explore numerous business-centered programs at Noble Desktop, where you can learn business skills ranging from finance and analysis to marketing and communications. In the FinTech Bootcamp, you will gain skills for data analysis and visualization as well as machine learning. You will work with Python for financial analysis and manage a professional portfolio through the hands-on projects assigned in class. In addition to the skills learned, you will have access to instructor feedback, 1-on-1 mentoring, different payment options, and a free course retake. With proper training, you can become a financial professional in the business world and feel confident using the associated tools.
Similarly, you can prepare for a career in business analysis with Noble Desktop’s Business Analyst Certificate. Here, you will learn how to query databases with Microsoft SQL Server, create data visualizations in Tableau, and design professional presentations with PowerPoint. You will benefit from the small class sizes, expert instruction, and additional mentoring, but the setup assistance, payment plans, and free retake are equally compelling. Upon completing the course, you will also receive a verified digital certificate that proves your newly acquired skills.
Perhaps you still want to explore all your learning options at Noble Desktop Take advantage of all the business classes and bootcamps on Noble Desktop’s Classes Near Me page. Each live course is taught by a trained instructor who has ample experience in the field. You can find courses in data analytics, marketing, finance, project management, and other business-related concepts that suit your learning needs, preferences, and goals. Noble Desktop makes the learning experience seamless, whether you require in-person or live online training or part-time or full-time courses.