6 answers
Ella
Student
Pittsburgh, Pennsylvania
1
Question
Asked
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What are the pros and cons of business management?
I plan on studying business management where I obtain experience to eventually become a business owner.
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6 answers
Doc Frick
Career Coach and Mentor
1877
Answers
California, CA
Updated
Doc’s Answer
Ella owning a small business can be an exciting and fulfilling career path to follow. Owning a small business offers the potential for independence, financial gain, and personal satisfaction, but it also comes with risks like high financial responsibility. Being a small business owner may be one of the toughest jobs, but it’s also one of the most rewarding. There are many benefits of small business ownership, and they often far outweigh the negatives.
PROS OF OWNING A SMALL BUSINESS
• INDEPENDENCE — When you own the business, you are the boss. You do not have to rely on others or discuss decisions with them. The independence that comes with entrepreneurship is great for those who like to work autonomously.
• FLEXIBILITY — Entrepreneurship gives you the flexibility to decide your own hours. It may seem like you are working all the time while you are first building your business; eventually, though, you will be able to decide when and where to work — no more 9 to 5. This flexibility is ideal for anyone who operates more efficiently outside of regular office hours.
• PASSION AND CREATIVITY
Another important benefit of owning a business is the satisfaction of knowing you are the creator of whatever product you put out. You are the vision behind it, and you put it in motion. You get to do what you love in a field you enjoy. You no longer have to drag yourself to a job you hate every morning. Many business owners also love that they can build their business on their beliefs and values.
CONS OF OWNING A SMALL BUSINESS
• AVOIDING BURNOUT — Entrepreneurs work long hours and get little rest. In many cases, until you begin to make money, you will have to do all the work yourself. There is a large potential for fatigue, which can lead to poor decisions and the desire to give up. A healthy work-life balance, even for early stage entrepreneurs, can give you the motivation to build your business for the long haul.
TOP BUSINESS MANAGEMENT SKILLS
• DECISION-MAKING — Decision-making is a key management skill that requires technical skills, financial literacy, and strategic thinking to evaluate information and select the best course of action. Management skills you'll need to learn to make strategic decisions, allocate resources wisely, and align business strategies with your business goals, ensuring your long-term success.
• PROBLEM-SOLVING — Problem-solving goes hand-in-hand with decision-making. Creating a business involves challenges and obstacles. That’s why problem-solving skills are critical. Your ability to identify problems, brainstorm solutions and make decisions that positively impact your company’s bottom line is indispensable.
Hope this was helpful Ella
PROS OF OWNING A SMALL BUSINESS
• INDEPENDENCE — When you own the business, you are the boss. You do not have to rely on others or discuss decisions with them. The independence that comes with entrepreneurship is great for those who like to work autonomously.
• FLEXIBILITY — Entrepreneurship gives you the flexibility to decide your own hours. It may seem like you are working all the time while you are first building your business; eventually, though, you will be able to decide when and where to work — no more 9 to 5. This flexibility is ideal for anyone who operates more efficiently outside of regular office hours.
• PASSION AND CREATIVITY
Another important benefit of owning a business is the satisfaction of knowing you are the creator of whatever product you put out. You are the vision behind it, and you put it in motion. You get to do what you love in a field you enjoy. You no longer have to drag yourself to a job you hate every morning. Many business owners also love that they can build their business on their beliefs and values.
CONS OF OWNING A SMALL BUSINESS
• AVOIDING BURNOUT — Entrepreneurs work long hours and get little rest. In many cases, until you begin to make money, you will have to do all the work yourself. There is a large potential for fatigue, which can lead to poor decisions and the desire to give up. A healthy work-life balance, even for early stage entrepreneurs, can give you the motivation to build your business for the long haul.
TOP BUSINESS MANAGEMENT SKILLS
• DECISION-MAKING — Decision-making is a key management skill that requires technical skills, financial literacy, and strategic thinking to evaluate information and select the best course of action. Management skills you'll need to learn to make strategic decisions, allocate resources wisely, and align business strategies with your business goals, ensuring your long-term success.
• PROBLEM-SOLVING — Problem-solving goes hand-in-hand with decision-making. Creating a business involves challenges and obstacles. That’s why problem-solving skills are critical. Your ability to identify problems, brainstorm solutions and make decisions that positively impact your company’s bottom line is indispensable.
Hope this was helpful Ella
Thank you, this is really helpful.
Layne Buckley
Human Resources
52
Answers
Salinas, California
Updated
Layne’s Answer
Great question, Ella! The pros are that you are more independent and can have more control over management of the business. This is a positive because you can potentially be more innovative in your approach. The cons are that in business management you will generally rely on experience gained in the industry, which is often gained through entry level positions and progressing through your career as you gain relevant experience. The most important advice is to be a lifelong learner, and gain as much knowledge and experience as you can at each point in your career. You will be able to leverage all of it as you rise to higher levels of managing your business.
Learn the industry
Progress in the career
Be a lifelong learner
Layne recommends the following next steps:
Ratna Anjali
Big Data Expert
2
Answers
Winnersh, England, United Kingdom
Updated
Ratna’s Answer
Despite the challenges, business management can be incredibly rewarding, especially if you thrive on strategy, leadership, and problem-solving.
Below are few bits I can think:
Pros
- Leadership & Influence – You get to shape the direction of a business, influence decisions, and drive success.
- Career Growth & Opportunities – Management roles often lead to higher pay, job stability, and opportunities for advancement.
- Problem-Solving & Innovation – You’re constantly tackling challenges, making decisions, and finding creative ways to improve business operations.
- Personal Development – Develop key skills like strategic thinking, communication, and decision-making, which are valuable in any industry.
- Flexibility & Control – Business managers often have more autonomy in their roles, allowing them to lead teams and make executive decisions.
Cons
- High Responsibility & Pressure – The weight of decision-making and business success falls on your shoulders, leading to stress and long hours.
- Managing People & Conflict – Handling employee relations, resolving disputes, and maintaining team morale can be challenging.
- Constantly Evolving Industry – Business trends, economic shifts, and technological changes mean you must always stay ahead.
- Risk & Uncertainty – Business management involves navigating market fluctuations, competition, and financial risks.
- Work-Life Balance – The demands of management roles often blur the lines between work and personal life.
Below are few bits I can think:
Pros
- Leadership & Influence – You get to shape the direction of a business, influence decisions, and drive success.
- Career Growth & Opportunities – Management roles often lead to higher pay, job stability, and opportunities for advancement.
- Problem-Solving & Innovation – You’re constantly tackling challenges, making decisions, and finding creative ways to improve business operations.
- Personal Development – Develop key skills like strategic thinking, communication, and decision-making, which are valuable in any industry.
- Flexibility & Control – Business managers often have more autonomy in their roles, allowing them to lead teams and make executive decisions.
Cons
- High Responsibility & Pressure – The weight of decision-making and business success falls on your shoulders, leading to stress and long hours.
- Managing People & Conflict – Handling employee relations, resolving disputes, and maintaining team morale can be challenging.
- Constantly Evolving Industry – Business trends, economic shifts, and technological changes mean you must always stay ahead.
- Risk & Uncertainty – Business management involves navigating market fluctuations, competition, and financial risks.
- Work-Life Balance – The demands of management roles often blur the lines between work and personal life.
HASNA hasna.alloumi1@hp.com
Case Manager
1
Answer
Albuquerque, New Mexico
Updated
HASNA’s Answer
Versatile career options across industries
Builds strong leadership and problem-solving skills
Good for career growth or starting a business
Great for networking and team-building
Cons:
Can be too general without specialization
High pressure and responsibility in management roles
Competitive field—experience matters
May feel less hands-on for creative/technical folks
Builds strong leadership and problem-solving skills
Good for career growth or starting a business
Great for networking and team-building
Cons:
Can be too general without specialization
High pressure and responsibility in management roles
Competitive field—experience matters
May feel less hands-on for creative/technical folks
Melanie Anderson
Associate Director
46
Answers
Elmont, New York
Updated
Melanie’s Answer
Hey Ella!
I'm so proud of you for knowing what you want and going for it. Owning your own business is AMAZING! It's really fulfilling to have something that's all yours. Studying business management is a smart move if you want to run a business. Here are some good things about it:
1. You'll learn important skills like leadership, communication, and finance. You'll also understand success, failure, and how to handle risks.
2. You'll meet and work with people who are on the same journey.
3. A business management degree can catch the eye of top companies, which can help you start your own business.
But there are some downsides too:
1. Business management can have a lot of ups and downs because of the risks in business.
2. Classes can be expensive, and there's no guarantee of a job.
3. It's a broad field, so employers might prefer more specific courses like IT, accounting, or finance.
I really think the benefits are greater than the downsides. The experience you'll gain from these classes will be so worth it!
Good luck... You got this!
I'm so proud of you for knowing what you want and going for it. Owning your own business is AMAZING! It's really fulfilling to have something that's all yours. Studying business management is a smart move if you want to run a business. Here are some good things about it:
1. You'll learn important skills like leadership, communication, and finance. You'll also understand success, failure, and how to handle risks.
2. You'll meet and work with people who are on the same journey.
3. A business management degree can catch the eye of top companies, which can help you start your own business.
But there are some downsides too:
1. Business management can have a lot of ups and downs because of the risks in business.
2. Classes can be expensive, and there's no guarantee of a job.
3. It's a broad field, so employers might prefer more specific courses like IT, accounting, or finance.
I really think the benefits are greater than the downsides. The experience you'll gain from these classes will be so worth it!
Good luck... You got this!
Chiquria Willis
Loan Processor - Rocket Mortgage
94
Answers
Dearborn Heights, Michigan
Updated
Chiquria’s Answer
Studying business management is an exciting path, especially if you dream of owning your own business. It offers many benefits and some challenges, just like any field.
Pros:
Business management equips you with essential skills like leadership, decision-making, finance, marketing, and operations. These are key for any entrepreneur. You'll understand how businesses work, how to lead a team, and how to tackle real-world challenges, all of which are crucial for running your own company. Plus, it provides opportunities for internships, networking, and exploring different career paths if you want to gain experience before starting your own business.
Cons:
Sometimes, business management programs can seem broad, and without applying what you learn, it might be tough to stand out in the job market. However, many skills can also be gained through hands-on experience, mentorship, or self-study if you're driven. It's crucial to mix your studies with practical experiences because textbooks can't fully prepare you for the surprises of owning a business.
If entrepreneurship is your goal, business management is a great step. Just remember to combine it with internships, side projects, or small business experiences to truly bring your knowledge to life.
Pros:
Business management equips you with essential skills like leadership, decision-making, finance, marketing, and operations. These are key for any entrepreneur. You'll understand how businesses work, how to lead a team, and how to tackle real-world challenges, all of which are crucial for running your own company. Plus, it provides opportunities for internships, networking, and exploring different career paths if you want to gain experience before starting your own business.
Cons:
Sometimes, business management programs can seem broad, and without applying what you learn, it might be tough to stand out in the job market. However, many skills can also be gained through hands-on experience, mentorship, or self-study if you're driven. It's crucial to mix your studies with practical experiences because textbooks can't fully prepare you for the surprises of owning a business.
If entrepreneurship is your goal, business management is a great step. Just remember to combine it with internships, side projects, or small business experiences to truly bring your knowledge to life.