Business management is one of the most satisfying aspects of life which gives a person sense of power and superiority to run his/her own business. Like any other job positions, business management too has its own pros and cons. Listed below are few pros and cons of Business Management:
Pros of Business Management
You won’t end up making much money when you are working for someone else. But in case of Business Management you tend to make more money. It is very handy in monetary sense.
- Provide employment
By being a business manager, you can provide employment opportunities to other people and hire them. You can further be a life changer for some people and also contributes to the local economy.
Business managers are their own employers and therefore they are not scared of being fired by anyone. They can also work at any time of the day or night without being interfered by anyone.
Being a business manager, you can be your own boss, and also, make all the crucial decisions without consulting for your own success.
Business manager has an opportunity to work in a field that s/he really enjoys. This ultimately means that you can wake up without any hesitation of projects or work.
You can increase your wealth of experience by learning from every aspect of a business and gain knowledge in a variety of disciplines.
Also Read: Pros and Cons of Business Intelligence
Cons of Business Management
- Financial Risk
Business Managers have to take a large financial risk to start their own business which is a high risk of failing.
For business management, managers have to learn new disciplines, like filing and bookkeeping, inventory control, production planning, advertising and promotion, market research and general management.
- Difficult decisions
Business Manager may have difficult decisions to make, like firing someone or refusing to hire a friend that can sometimes affect your personal relationships with people.
You are not always sure about your income, there may be times where you have no income or very little is coming in at all.
For a beginner, it is likely have to work long hours and may only have few days of vacations or leave which may have negative effect on your health in the long run.