Business Administration in the Digital Age: Why is this field on the rise?

In the era of the Fourth Industrial Revolution, the economy is thriving like never before. It has spurred the emergence and growth of a multitude of companies, both large and small, within and outside the country, as well as the collaborative connections of multinational corporations. This period of globalization and openness brings numerous opportunities for businesses to network and expand cooperative relationships. The demand for high-quality workforce is on the rise in general, especially in the field of Business Administration, making it hotter than ever. Consequently, the Business Administration specialization is becoming the top choice for many parents and students standing at the threshold of the future.

Business Administration in the Fourth Industrial Revolution

The COVID-19 pandemic has passed for some time, but its aftermath has brought about changes in global consumers, from perspectives on values and behaviors to consumption patterns. According to the EY Future Consumer Index in May 2020, 89% of surveyed consumers are currently or will change their shopping habits, while 76% are currently or will alter their product and service choices. From a business perspective, digital transformation is an essential and powerful trend. Companies are maximizing the use of new technologies to fundamentally change operational methods, business models, management styles, leadership, work processes, corporate culture, thereby providing new values to customers to drive growth and enhance business efficiency. In this context, managers not only need to understand traditional business operation models and methods, but also need a profound understanding of how management activities in production, logistics, human resources, finance, marketing, sales, customer service, etc., are operated and implemented in a digital environment.

The Business Administration program equips students with foundational and modern knowledge in economics, business, and management; in-depth knowledge of comprehensive business administration covering all aspects of enterprise operation and management in the context of the market economy and international integration; knowledge, tools, and skills to perform managerial functions; as well as the skills, qualities, and demeanor required of entrepreneurs.

High Demand for Human Resources

Currently, more than 80% of active businesses are commercial enterprises. The sales and marketing departments are two key areas that commercial enterprises particularly focus on because these departments play a crucial role in generating revenue for the company. Consequently, there is a significant demand for recruiting personnel for these departments.

The demand for recruiting students in the field of Business Administration consistently ranks at the top of recruitment listings on job search websites such as Glints, TopCV, etc. According to Glints’ Labor Market and User Insights report, the demand for recruiting candidates in the business and marketing sectors is observed to be increasing by around 20%.

According to TopCV’s recruitment market report, nearly 42% of businesses are facing a shortage of workforce. Among businesses with 300 to 500 employees, the shortage rate reaches up to 54.8%. Business ranks second in the top 10 fields with the highest workforce shortage rates.

More than half of recruiters (55.2%) surveyed believe that the insufficient number of candidate profiles meeting recruitment needs is the primary reason for the workforce shortage in their companies. This indicates the high demand for Business Administration training. The key lies in whether graduating students ensure the quality of specialized skills, soft skills, and other relevant competencies needed for recruitment after graduation.

Studying Business Administration does not lead to unemployment “as rumored”

In the current context, although the job market for Business Administration is highly competitive, Generation Z young individuals also possess many qualities to succeed in the field of Business Administration. Therefore, the unemployment rate is not due to choosing to study Business Administration, but rather depends on the students themselves having the knowledge, skills, and a clear career path. If Business Administration students excel in computer skills, internet proficiency, marketing, and sales, it is certainly not too difficult for them to find employment immediately upon graduation.

With the broad and diverse knowledge learned in the field of Business Administration, graduates can easily access various professions in reality, providing numerous opportunities for different job roles such as: sales personnel, marketing professionals, strategic planning officers, market researchers, and more. The interdisciplinary training also enables Business Administration students to quickly succeed in their preferred fields, facilitating career advancement.

There is a misconception that leads many to misunderstand this field of study—the term “management” often misleads individuals to envision high-level positions. However, in reality, no business immediately hires a fresh graduate for a managerial or leadership role. Everyone must go through initial work experiences, then enhance skills and gain experience to progress in their careers. Students need to establish a solid foundation, set clear goals, and define a career path to achieve success..

Unveiling the Allure of Business Administration in the Digital Age

Business Administration – an intriguing field of study with vast job prospects

The significant rise in the number of newly established enterprises has led to a high demand for workforce in the field of Business Administration. According to the General Statistics Office, in the fourth quarter of 2021, the number of newly registered businesses in Vietnam reached 31.4 thousand units, a 70.4% increase in the number of businesses and a 64.1% increase in registered capital compared to the third quarter of 2021.

Abundant FDI capital, coupled with the promising growth rate of the Vietnamese economy, has laid the groundwork for thousands of international businesses to confidently enter the market. In this context, the market is facing a “thirst” for professionals knowledgeable in business and related operations to lead companies steadfastly through challenges and towards new achievements. Hence, the career opportunities in this field are wide open.

At Hoa Binh University, the Business Administration program educates undergraduates with knowledge in leadership, management, operations, and entrepreneurial ventures. Graduates will be equipped to perform managerial functions such as: developing and implementing strategies, creating business plans, organizing corporate management structures; analyzing, diagnosing, and evaluating businesses. Particularly, the Business Administration program at Hoa Binh University is designed to be application-oriented to cultivate and enhance practical and managerial skills for learners.

The Business Administration program aims to provide students with comprehensive and in-depth knowledge in two key areas: “management” and “business.” As a result, Business Administration students will receive thorough training in various economic fields such as economic statistics principles, business strategies, business law, financial management, marketing, human resources, and more, to gain a holistic understanding of how a business operates.

Due to the broad range of knowledge across multiple disciplines, recent Business Administration graduates have the opportunity to become specialists in business offices, planning departments, marketing, or customer support and transactions. In the long term, Bachelor of Business Administration graduates also have the chance to advance to hold significant positions like chief executive officers, financial directors in large companies, enterprises, both domestic and international. Students are also equipped with the knowledge and capabilities to establish, manage, and operate their own companies independently.

Mastering the Profession, Excelling in Expertise

To transform inherent capabilities into strengths, students pursuing Business Administration are provided with maximum opportunities by the University to develop their skills and professional expertise through extracurricular activities, workshops, skill seminars, and training sessions conducted directly by industry experts.

As a leading public university in fostering connections with businesses and engaging with experts, Hoa Binh University ensures that its students regularly engage in practical experiences at partner enterprises. This includes participating in sales experiences, professional internships at various companies, and receiving guidance on sales skills and experiences from sales personnel and sales department managers. These opportunities offer invaluable learning experiences, real-world exposure, and help students develop insights into the work environment and understand the needs of employers right from their time at the university.

Learn more >>> Signing Ceremony of Cooperation between Hoa Binh University and Enterprises

In addition to expertise and experience, students are also emphasized on developing soft skills, and proficiency in the English language is indispensable throughout the learning process. At Hoa Binh University, there is a strong focus on enhancing students’ English proficiency from their first year. After graduation, students are not only equipped with knowledge but also have their skills honed for the workplace. Therefore, graduates of Hoa Binh University are known to be dynamic, sharp, confident, quick to integrate, unafraid of pressure and competition, ready to learn and work.

HOA BINH UNIVERSITY – HANOI

Address: Admissions and Communication Office, No. 8 Bui Xuan Phai, My Dinh II, Nam Tu Liem, Hanoi

Email: admissions@daihochoabinh.edu.vn

Hotline: 0247.109.9669 – 0981.969.288