Advance Equality for Black Communities With a Career in Business Management

Business managers have a unique opportunity to use their innovative ideas to grow businesses, build wealth, lead communities, and change the economic landscape. However, the realm of corporate leadership is still white male-dominated and deeply lacking in diversity. The Harvard Business Review reports that Black professionals are far less likely to hold white-collar managerial positions than their white colleagues.

The Need for More Black Entrepreneurs and Business Managers

This disparity in white-collar jobs as a whole also translates into business ownership. As of 2019, only 2.3% of US employer firms (businesses with more than one employee) were Black-owned. This stems from several major factors related to systemic racism.

Since the end of the Civil War through the mid-1960s, Jim Crow laws limited the kinds of jobs Black people could hold and the properties they could own, constricting wealth-building opportunities for multiple generations of Americans. The 1921 Tulsa massacre destroyed “Black Wall Street,” a national paragon of African American affluence.

students from the Clark Atlanta University MBA program won the highly competitive business case competition held at the National Black MBA Association Case Competition.

Students from the Clark Atlanta University MBA program win National Black MBA Association Case Competition

As a consequence of racial violence, racist legal and financial policies, and other forms of systemic oppression, Black-owned entrepreneurship began declining in the 1940s before resurging in the 1980s. More recently, Black-owned small businesses were those hit hardest by the pandemic.

As social awareness of race-based economic injustices and barriers grows, so do the number of resources designed specifically to help Black entrepreneurs get started and reach their goals. But much progress remains to be made.

Prospective business owners can turn to these organizations and programs for the tools they need to succeed. The more African Americans represented in business ownership, the more wealth, job opportunities, and investment resources communities of color will have.

Accessible education for rising generations of Black Americans is the key to achieving further equity in business management. Black students who pursue degrees in business management at equity-driven colleges or universities will gain not only the tools and knowledge they need to succeed, but essential support, connections, and encouragement as well.

Business Management for the Future

The future of business management is brimming with opportunity as the industry evolves to meet the demands of a rapidly changing world. Today, business managers are no longer just tasked with overseeing operations — they are innovators, strategists, and catalysts for transformation. With the rise of technology, globalization, and sustainability-focused practices, companies need skilled leaders who can navigate complex challenges and drive meaningful change.

Emerging trends, such as the integration of artificial intelligence, the emphasis on diversity and inclusion, and the transition to more flexible, remote work structures, are reshaping how organizations function, creating a wealth of opportunities for forward-thinking professionals. By pursuing a career in business management, you position yourself at the forefront of these changes, gaining the skills and influence to shape the future of industries, empower teams, and make a lasting impact.

HBCUs Can Help You Start a Career in Business Management

Given the recent Supreme Court ruling on affirmative action in college admissions, more Black students are likely to turn to historically Black colleges and universities (HBCUs) for their education. In response, these institutions will do everything they can to meet increased student demand. HBCUs help more students earn college degrees, compete successfully for well-paying jobs in competitive career fields, improve workforce diversity, and move from poverty into the middle class.

People of all ages, races, and life paths can help to improve diversity in American business disciplines by supporting scholarships and other forms of funding for HBCUs with related programs. You can make a difference in the lives of business management students — and future Black entrepreneurs — in one easy step by making a donation today.

Careers in Business Management

Graduates in business-related fields may pursue careers in a wide variety of capacities. Some of these include:

Entrepreneur
Office manager
Financial analyst
Account executive
Business owner
Claims adjuster
Business development specialist
Advertising project manager
Marketing manager
Sales manager
Business analyst
Business consultant

If you plan to enter the field of business management, you’ll need to enroll in a degree program. Business management students take a wide range of related course subjects, including:

Accounting
Economics
Marketing
Statistics
Business ethics
Human resource management
Business policy

Want to learn more about this possible career path and college major? Have questions about which UNCF colleges and universities offer this program? Looking for help with financing this degree?

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Preparing for Success

In high school, take business classes if they’re available. This will not only help create your foundation for further study, but will also give you a better idea of which areas of business interest you the most. If your high school doesn’t offer a class in business or if you don’t have time to take one, check with a local community college or entrepreneurial organization to see if they offer introductory courses or programs that work with your schedule. This will give you a significant head start once you get to college, and you may even be able to earn credits to transfer to your future school.

Business, however, is not a discipline that should remain wholly in the classroom. Once you begin the process of selecting a college to attend, pay attention to where each school’s graduates end up. Does the college help students to get internships and work experience? What kind of companies do they end up working for? What kind of positions do they hold? Finding a school that thoroughly prepares its students for life after graduation is key to kickstarting your professional life as quickly as possible.

The best business managers are highly self-disciplined and self-motivated; they don’t depend on other people to keep them on track. They’re first-rate brainstormers who are creative enough to come up with new ideas, yet practical enough to make those ideas a reality. Of course, it helps to be a natural leader with an aptitude for working with others toward a common goal.

UNCF Schools To Consider

To start on this career path, students must at minimum earn an associate’s or bachelor’s degree, although high-level positions often require master’s and doctoral degrees. These UNCF-member schools (and others) offer programs in business, business management, or business administration and management:

Professional Organizations

There are also many professional organizations that can provide more insight into some of the specializations in this discipline. A sample list includes:

Scholarships Available

There’s no better way to start on your path to a successful career in business management than with a solid financial foundation. Fortunately, many scholarships are available through UNCF, including some specifically for business management majors. Keep an eye on the UNCF website for current scholarship opportunities and announcements.

Search for specific scholarships and view those that are currently accepting applications here! Students should also check with each college or university to see if there are additional scholarships available to study business.

As you explore your options, be sure to use our guide to applying for scholarships and grants. You can also receive guidance by submitting a major interest form if you are interested in a career in business management. Submit the form on our website to get started. And follow us on UNCF social media channels to receive notifications about our scholarships and member HBCUs. Reach out today!

You can also show your support for students pursuing careers and furthering equity in business by making a contribution to UNCF member schools. Education is the greatest tool we have in creating a just and equitable society in which economic mobility is available to all. Help us achieve this future by donating today!