Why Business Degrees Matter
An Editorial from Dr. Jun Zhao
On January 10, 2017, Yahoo announced that it will change its name to Altaba after the $4.8 billion sale of its core internet business to Verizon Communications. The new company will keep Yahoo’s investment in Alibaba (the China-based, No. 1 ranked online retailer), Yahoo Japan, and a few patents. Following its acquisition by Verizon Communication, an era will end for the web pioneer.
Yahoo’s fate is only one of the examples of the challenges companies face in today’s changing business environment. Consider the following facts described by Thomas Friedman in his new book Thank You for Being Late, and you will see that the business world is changing tremendously:
- Airbnb, the largest accommodations provider in the world, does not own any real estate.
- Uber, the largest taxi company in the world, does not own a single vehicle.
- Amazon, the online retail pioneer, has entered the entertainment business and started producing television series and films in recent years. Originals Goliath and Manchester by the Sea garnered two Golden Globe awards for the fledgling production division in 2017. Additionally, the online retail giant—which caused the closure of many brick and mortar retailers including Borders—is now building distribution and fulfillment centers around the country. Amazon announced earlier this year that it will create 100,000 new jobs around the country by 2018. It has also branched into the cloud technology business and will likely outcompete Google in this market.
Behind all these changes are the forces of technology and globalization. These drivers have created tremendous opportunities for businesses and entrepreneurs around the world, but in the meantime, they also pose threats to businesses that are not equipped to embrace change.
To remain competitive in this changing business landscape, today’s organizations need talented individuals who have the right mix of knowledge and skills at all organizational levels to help them navigate the changes. They need employees who grasp the traditional business functions – accounting, finance, human resources, management, marketing, as well as soft skills such as leadership, problem solving, and team management. There’s also strong demand for workers who have a global mindset and are technology savvy.
As the 2014 National Association of Colleges and Employees (NACE) survey indicates, employers were expected to hire 7.8% more college graduates in 2014 than they did in 2013. Employers are most interested in bachelor’s degree holders in the fields of business, engineering, computer/information science, sciences, and communications.
As the only public university in Chicago’s Southland, Governors State University offers a top quality business education. GSU’s College of Business recently received the highest accreditation in business from the Association to Advance Collegiate Schools of Business (AACSB). Less than 5% of 16,000 business schools in the world have earned this distinction. It is a reflection and affirmation of the high quality programs that GSU’s College of Business offers to its students.
The College of Business at GSU offers five undergraduate programs: Bachelor of Arts in Business Administration with seven concentrations in Entrepreneurship, Finance, Human Resource Management, Management, Management Information System, Marketing, and Supply Chain Management; Bachelor of Arts in Business and Applied Science; Bachelor of Arts in Economics; Bachelor of Arts in Manufacturing Management; and Bachelor of Science in Accounting.
GSU also offers three graduate degrees in its College of Business: Master of Business Administration (MBA), Master of Science in Accounting, and Master of Science in MIS. GSU’s online MBA with Supply Chain Management concentration was recognized as one of the 20 Best Online Master Programs in Supply Chain Management by thebestschools.org.
GSU’s College of Business takes pride in its high quality faculty and staff. COB faculty are dedicated teachers and researchers who contribute to the business community and general public through many service activities. COB faculty publish in top journals including the Journal of Finance, Accounting Review, Harvard Business Review, Journal of Advertising, Journal of Organizational Behavior, among others. They also provide consulting services to area business to help them improve their internal systems and grow their competitive advantage.
GSU’s business students learn from the experts in the field both in and outside of the classroom. They participate in various activities including student club events, field trips, and speaker series. They also take advantage of internship opportunities to obtain hands-on experience, which will better prepare them for business careers once they graduate.
COB alumni hold positions in Fortune 500 companies. They work in the public sector, and they provide services to our federal government. They are employed by companies such as CN Railway, Chicago Metropolitan Agency of Planning, Capital One Financial, KPMG, and CSCMP.
GSU’s reach is far and growing. We are locally grown and nationally known. We encourage you to come and be a part of our story.