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What is the best minor to take with business management in college?

Looking to build my own business and understand how to manage and how it all works.

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Zifan’s Answer

Foreign languages, with no doubt. If your primary is English, it will be fairly easy for you to pick up European languages like Spanish, French and German. But I highly recommended languages like Chinese and Arabic - harder but a lot of trades, transactions and opportunities there and there are a lack of talents who speak these two languages while the primary language is English.
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Katherine’s Answer

Choosing the right minor to complement a business management major when aspiring to start and manage your own business depends on your goals and objectives. For entrepreneurs, popular choices include a minor in entrepreneurship, which covers business planning and innovation, or finance to develop essential financial management skills. Marketing is beneficial for customer attraction, and information technology or management information systems (MIS) can help leverage technology. Economics offers insights into market dynamics, while Communication enhances interpersonal skills. Accounting is valuable for financial understanding, and Supply Chain Management is relevant for those dealing with physical products. The choice should align with your business idea and long-term goals, so it's best if you consult with advisors for personalized guidance once you start college.
Good luck!
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Manuel T.’s Answer

If you're eager to kickstart or manage a business, consider the industry you're passionate about! A minor could be a valuable tool to gain deeper insights into the specific sector where your business will thrive. Dreaming of selling computer components? An electronics engineering or computer science minor could be a great addition to your business acumen. If you're planning to serve the manufacturing industry, a minor in logistics, manufacturing, or operations could be a game-changer.
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Rei’s Answer

Hi Zach,

That's an excellent question. I concur with previous responses suggesting beneficial skills like coding or a foreign language that could serve as a valuable asset to your business. However, I'd like to propose an alternative perspective. Why not consider pursuing a minor that simply fuels your passion, without necessarily tying it to your business's future needs?

I share this advice from personal experience. I chose to minor in French, purely out of interest, without any intention of applying it professionally. Fast forward four years, and I found myself part of a team where French was the primary language for more than half the members! My basic French skills helped me to quickly establish a rapport with the team. The lesson here is that it's impossible to predict what knowledge or skills will prove beneficial in the future. So, instead of attempting to forecast future requirements, why not seize this opportunity to explore a subject that truly captivates you? Steve Jobs once shared in a renowned speech that his prior knowledge of calligraphy, learnt out of sheer interest, later played a crucial role in his decision-making process regarding font designs.

Best of luck on your journey!
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Vamshee’s Answer

Choosing the right minor can give you a unique edge over others and allows you to customize your education to align more with your career ambitions. If you're planning to establish your own business and learn how to manage it, you might want to consider the following minors, provided your college offers them:

- Entrepreneurship
- Finance
- Economics
- Marketing

Remember, entrepreneurs are the company's trailblazers, constantly introducing innovative ideas, products, and processes that elevate the business to new heights.

By opting for an entrepreneurship minor, you'll engage in a variety of courses like sales, merchandising, finance, accounting, business law, marketing, computational thinking, and retail operations.

These courses will equip you with the knowledge and skills to kick-start and sustain a business, launch a product, and more. You'll focus on areas like creativity and innovation, business analysis and planning, consulting, identifying and commercializing opportunities, risk management, contracts, organizational communication, persuasion, and more.

I hope this information proves useful! Wishing you immense success in all your future undertakings!
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Sydney’s Answer

Considering fields like statistics, data engineering, psychology, math, or economics could be beneficial for you. Utilizing data to back up management decisions will be a key factor in any path you choose. I also highly recommend psychology, as it can give you insights into better teamwork and can significantly increase your overall impact.

Wishing you all the best!
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Jazhel’s Answer

These are all wonderful recommendations! I would add psychology as an option. This provides insight on mental processes and human behavior which is helpful in understanding clients. Also, look into certifications that your institution offers that is relevant to the path you are pursuing. Best of luck!
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Steven’s Answer

Learning a foreign language can significantly increase your worth in the professional world. Possessing strong English or writing skills can also greatly benefit you.
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Jacob’s Answer

Choosing the right minor to complement your business management major can provide you with valuable skills and knowledge to support your goal of building and managing your own business. Here are some minors that can be particularly beneficial:

1. **Entrepreneurship:** This minor is an obvious choice as it directly aligns with your goal. It covers topics like business planning, startup strategies, and innovation, providing you with the skills and mindset needed for entrepreneurship.

2. **Finance:** A minor in finance can enhance your understanding of financial management, investment strategies, and risk assessment. These skills are vital for effectively managing the financial aspects of your business.

3. **Marketing:** Marketing is essential for attracting customers and growing your business. A marketing minor can teach you about market research, branding, advertising, and digital marketing strategies.

4. **Information Technology (IT) or Computer Science:** In today's digital age, technology plays a crucial role in business operations. A minor in IT or computer science can help you develop skills in web development, database management, and software applications, which are valuable for running an online business.

5. **Economics:** Understanding economic principles can be beneficial when making strategic decisions for your business. An economics minor covers topics like supply and demand, market analysis, and economic forecasting.

6. **Supply Chain Management:** If your business involves the production and distribution of physical products, a supply chain management minor can teach you about logistics, inventory management, and supply chain optimization.

7. **Psychology:** Knowledge of psychology can be valuable for understanding consumer behavior, employee motivation, and interpersonal dynamics in business. It can help you create a positive work environment and improve customer relations.

8. **Communication:** Effective communication is crucial in business. A minor in communication can improve your verbal and written communication skills, negotiation abilities, and presentation skills.

9. **International Business:** If you plan to expand your business globally, an international business minor can provide insights into global markets, international trade, and cross-cultural management.

10. **Sustainability or Environmental Studies:** As sustainability becomes more important in business, a minor in this field can help you integrate environmentally responsible practices into your business strategy.

When choosing a minor, consider your personal interests, the specific needs of your business, and your long-term goals. Additionally, consult with academic advisors and professors for guidance on selecting the minor that aligns best with your business management major and entrepreneurial aspirations. Keep in mind that the combination of a business management major and a relevant minor can provide you with a well-rounded skill set for building and managing a successful business.
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Matthew’s Answer

I think a complementary minor for a business degree is English. Acquiring proficiency in writing and communication skills can significantly elevate one's status and pull in the business world. The significance of the English language is often overlooked. Additionally, psychology as a minor would be a great choice as well. A comprehensive understanding of the collective human behavior and adeptness in responding to unforeseen situations are highly important in any business environment.
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Robert’s Answer

Good question. In addition to the fine recommendations of others, I’d also augment those college courses by reading biographical books and watching videos by successful entrepreneurs you admire.
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Shelly-Ann’s Answer

Hi Zach,

A minor in math would enhance any business/finance leaning degree. Math enhances analytic skills that are critical in business.

Good luck!
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