The subject Business Studies and how it applies to real life

 It seems strange in this day and age that we're still not taught about money at school. We touch on economics, and maybe the history of currencies, but we’re not prepared for a life of credit, overdrafts and mortgages. This is true, also, of business studies. So many businesses fail purely because of the basics. A new business is usually the brainchild of an entrepreneur with a vision, but so often that entrepreneur ends up firstly becoming the manager of said business and then, worst of all, the engineer. All dreamy vision lost — a classic case of working in the business, not on it.

 Inevitably, it’s always the usual suspects that pop up: cash flow (or lack of), late payments, bad management. All of these can be headed off at the pass if you’ve studied business.

So what are ‘Business Studies’?

Business Studies is a broad subject in the Social Sciences, allowing the in-depth study of a range of specialities such as accountancy, finance, organisation, human resources management and marketing. Crucially, they'll now include the General Data Protection Regulation (GDPR).

 Of course, as well as starting a small business or becoming an entrepreneur, a qualification in Business Studies can lead to a career in accounting, advertising, banking, retail, management consulting, marketing, research or human resources, to name but a few. You can also study applied business, business marketing, and economics. Related subjects include law, accounting, maths, statistics, additional maths, government and politics, and psychology. Equivalent to two A-levels, the BTEC National in Business is designed to provide a specialist, work-related programme of study that covers the knowledge and skills required to progress successfully in the workplace but also provides a firm basis for higher education. Further down the line, if taking on a business degree, you'll develop a broad knowledge of business operations, as well as gaining targeted skills in your specific fields such as customers, markets, finance, operations, strategy, business policy, communications and IT.

 Studying business management can improve a business owner's ability to analyse data, improve financial decisions and make better predictions about the future. Without a business education, it's often the fact that you don't know what you don't know.

If you've made up your mind and decided to obtain a diploma in Business Studies, then perhaps you should prepare before stepping into beginning university. Tutor Extra has a variety of topics to choose from and different online tutoring lessons for Business.