We hear a lot about “green jobs,” but do you know exactly what that phrase means? The U.S. Bureau of Labor Statistics (BLS) defines green jobs in these two ways:
Green energy jobs utilize wind, solar, geothermal (using heat from the earth), biomass (natural waste products), and hydroelectric power (dams), among other environmentally friendly technologies.
Perhaps the most important question is, “What do green energy jobs mean for you?” Tremendous career potential is just one answer. Let’s look at some promising green energy job statistics, a few specific roles that you can pursue within the field, and education programs that can help you qualify for those roles.
The Green Energy Job Market Is Booming
There’s no shortage of green energy jobs right now. Growth in this field has been underway for a few years, and the numbers will only increase with time. As one example, the International Renewable Energy Agency (IRENA) reported the addition of 700,000 green energy jobs globally between 2017 and 2018, for a total of about 11 million jobs. In its Global Renewables Outlook: Energy Transformation 2050 report, IRENA also projects the number of green energy jobs to quadruple over the next three decades.
While the green energy field is expanding, new green ventures are only part of that picture. Many traditional energy companies are leading the drive toward greater dependence on green energy sources. Others are modifying their operational practices to reduce negative impacts on the environment.
Potential Careers in Green Energy
There are numerous professional roles available in green energy, including some you may not have thought of. Many technical and hands-on positions are available for those with the passion and qualifications, as you might expect. But not all jobs in energy involve getting your hands dirty, especially when it comes to clean energy. Qualified professionals are also needed on green energy’s business side to fill many rewarding, high-paying positions, including:
Some of these positions are experiencing considerable growth. For example, the BLS states in its Occupational Outlook Handbook (updated April 2021) that financial analyst jobs are expected to grow at a rate of 5% between 2019 and 2029—faster than average for all occupations. BLS also reports that financial manager jobs are anticipated to grow at a whopping 15% through 2029. That’s much faster than the average growth rate for all occupations. Further, the median annual salary for financial managers is $138,180. And these are just a few examples. There are many more jobs available in the green energy sector. Having the right credentials can give you a leg up in the green energy job boom and position you for a career that helps protect our planet and its precious resources.
The Right Credentials
The University of Texas Permian Basin offers energy-focused online degree and certificate programs that can equip you with the knowledge and credentials you need to transition into (or advance within) a career in green energy. Both of these 100% online programs are offered through UT Permian Basin’s AACSB-accredited College of Business:
Master of Business Administration with Certificate in Energy Business
This graduate degree program helps you build highly marketable operational insight and leadership capabilities that will be beneficial to you in the energy industry. By taking specified electives, you can also earn a second credential—a Graduate Certificate in Energy Business—without needing any extra time to complete your MBA. Many people finish this Master of Business Administration degree in as little as four semesters!
Graduate Certificate in Energy Business
If you already have an undergraduate degree and are looking to build some additional energy business expertise without pursuing a graduate degree, this 12-credit stand-alone certificate program is ideal. Through four courses, you’ll adapt your current proficiencies in management, business law, finance, accounting, and/or marketing to a career in the energy industry.
Programs Made With Working People in Mind
All of the courses for these online programs are delivered in an asynchronous format that allows you to complete coursework on your own schedule, 24/7, from virtually any location. That means that you can continue to meet your work and family responsibilities while earning a valuable career credential. Program courses feature the same curriculum and acclaimed faculty as the corresponding on-campus programs, but with added convenience. You can finish most courses in just eight weeks, with summer courses lasting just seven weeks!
Gain the knowledge and credentials required to thrive in a green sector job with one of UT Permian Basin’s online programs.
Sources:
https://www.epa.gov/greenpower/what-green-power
https://www.irena.org/publications/2018/May/Renewable-Energy-and-Jobs-Annual-Review-2018
https://www.irena.org/publications/2019/Jun/Renewable-Energy-and-Jobs-Annual-Review-2019
https://www.eesi.org/papers/view/fact-sheet-jobs-in-renewable-energy-energy-efficiency-and-resilience-2019
https://www.bls.gov/careeroutlook/2018/data-on-display/green-growth.htm?view_full
https://www.businessinsider.com/high-demand-renewable-energy-jobs-of-the-future-2019-8#4-software-developers-and-software-quality-assurance-analysts-and-testers-are-expected-to-see-215-job-growth-by-2029-18
“The most dangerous leadership myth is that leaders are born—that there is a genetic factor to leadership. That’s nonsense; in fact, the opposite is true. Leaders are made rather than born.” — Warren Bennis
Do you dream of making a real impact in the healthcare field—not just treating patients, but shaping the systems that care for them? Becoming a healthcare leader gives you the power to influence policies, drive innovation, and improve lives on a broader scale.
Whether you see yourself managing a hospital department or overseeing vital healthcare projects, this step-by-step guide will show you how to turn your passion into a purpose-driven leadership career.
A healthcare leader is someone who oversees key services that directly or indirectly impact patient care and organizational outcomes. This includes:
To succeed in a healthcare leadership role, you’ll need a combination of personal drive, practical skills, and real-world experience. Here are some key qualities and steps to help you get there:Be driven by a genuine passion for helping others.
Becoming a healthcare leader takes more than ambition. t requires a unique mix of skills, experience, and education. Whether you’re just starting out or looking to move up, this infographic breaks down the essential steps to help you rise to the top and make a lasting impact in the healthcare industry.
As you work toward a leadership position in healthcare, you’ll need to develop the skills required of a leader in practically any profession, including:
If you already possess some of these, you’re ahead of the game. But leadership is about lifelong learning, and even natural leaders benefit from refining their skills.Do You Need a Degree to Become a Healthcare Leader?
In addition to personal development, you also need to have formal credentials in healthcare leadership that show you’ve been educated by a credible source. This typically means earning a bachelor’s degree from an accredited institution.Why Now Is a Great Time to Enter Healthcare Leadership
The healthcare industry is growing rapidly due to an aging population, technological advancements, and policy changes. This growth has created demand for professionals who can lead teams, manage systems, and improve outcomes.
Here are in-demand leadership roles and their average salaries and job outlooks:
The University of Texas Permian Basin is doing its part to nurture tomorrow’s healthcare leaders. Our AACSB-accredited College of Business offers two online bachelor’s degree programs that will help you develop effective healthcare leadership skills:
Bachelor of Business Administration in Healthcare Management
Learn demonstrated ways to implement BBA business fundamentals in a healthcare context through courses focused on financial management among healthcare providers, patient services, and the legal and regulatory environments of the healthcare industry.
In this program, you’ll learn proven strategies for complex problem-solving, project management and forecasting, and overcoming common limitations in the workplace regarding budget, time, and resources that every healthcare leader needs to know.
Most courses for both of our healthcare management/leadership degree programs last just eight weeks, and all are delivered in an asynchronous, 100% online format. You can complete coursework on your own schedule, 24/7, from anywhere in the world while tending to ongoing work and family responsibilities. You’ll learn the same curriculum from the same renowned faculty who teach the programs on campus at UT Permian Basin, with added flexibility.
Hone your leadership skills for a rewarding career in healthcare. You’ll find the foundation you need in one of UT Permian Basin’s online healthcare management and healthcare leadership bachelor’s degree programs.
Sources:
https://www.forbes.com/sites/kevinkruse/2012/10/16/quotes-on-leadership/?sh=5037370c2feb
https://nurse.org/healthcare/how-to-become-a-healthcare-administrator-executive
https://www.indeed.com/career-advice/resumes-cover-letters/leadership-skills
https://www.forbes.com/sites/kimberlyfries/2018/02/08/8-essential-qualities-that-define-great-leadership/?sh=43e380b93b63
During the remainder of this decade, the U.S. healthcare industry is expected to undergo a tremendous expansion, with an anticipated growth rate of 16%. That translates to roughly 2.6 million new jobs in the U.S. alone. Globally, the healthcare market will have an estimated value of more than $300 billion by 2027 and exceed $665…
You’re interested in a healthcare career, but you envision yourself in a management or leadership role rather than a hands-on position. While patient health remains your top priority, you know that leading a team or managing an office, department, or even an entire facility is just as vital to the overall healthcare mission. Many of…
When COVID-19 struck in 2020, the world as we knew it was thrown into complete chaos. Suddenly, many of us couldn’t leave our homes to complete simple tasks like grocery shopping or even taking a walk. Countless parents became tutors to their children, who were learning via Zoom calls. And when someone showed symptoms of…
Earning a university degree can equip you with skills and credentials that will be a tremendous asset in your professional life. As Abigail Johnson Hess reports on CNBC.com, the long-held notion that a college degree “can be a clear path to stronger job opportunities and higher earnings” still holds true. College graduates take home about $30,000 more each year than those whose highest level of education completed is high school.
When choosing a college degree, it’s important to follow your passion, but you should also consider whether the field you’ve chosen has growth potential. Once you’ve found a promising professional area, having an educational credential that employers value can help you compete for emerging positions.
With these facts in mind, let’s look at the added benefits of a degree in business. According to the U.S. Bureau of Labor Statistics, employment in business and financial operations occupations is expected to grow by 5% by 2029, which is faster than the average growth rate for all occupations. That amounts to nearly half a million new jobs for which a bachelor’s degree is the minimum educational requirement. If you’re a business-oriented job seeker, or plan to be one, earning a Bachelor of Business Administration can be the differentiator that gets you in on the ground floor.
A four-year degree is not your only option for professional advancement, however. You can add an undergraduate certificate in digital marketing to any online bachelor’s degree program at The University of Texas Permian Basin. If you have a passion for business, mastering digital commerce is a shrewd career move. Commerce in the digital realm is growing and is expected to continue doing so, creating more job opportunities in this innovative field. Let’s look at digital commerce a little more closely and see why a BBA degree combined with an undergraduate certificate can benefit you.
What Is Digital Commerce?
According to one definition, digital commerce “enables customers to purchase goods and services through an interactive and self-service experience. It includes the people, processes and technologies to execute the offering of development content, analytics, promotion, pricing, customer acquisition and retention, and customer experience at all touchpoints throughout the customer buying journey.” Some of the most popular digital marketing channels include social media, paid search, search engine optimization (SEO), affiliate marketing, and email.
The Future of Digital Commerce
Digital commerce, also referred to as e-commerce, has been growing steadily for some time. What’s more, COVID-19 has hastened a digital-first strategy among retailers in a market where brick and mortar commerce was already on the decline, according to an Entrepreneur.com article. In parts of the world where the coronavirus was particularly prevalent, Facebook marketing jumped 50%. The increase in digital commerce is expected to spur a corresponding increase in job growth in roles as diverse as sales, operations, software and app development, and content creation. As of 2020, purchases through digital commerce channels made up 10% of all retail sales, a number that’s predicted to increase by 15% annually.
Our Online Bachelor of Business Administration Programs
UT Permian Basin offers four AACSB-accredited BBA programs online, each in a vital and dynamic business field:
Bachelor of Business Administration in Accounting
Build a wide-ranging skillset in analyzing and solving financial problems as you receive expert guidance for accounting careers in nonprofit, government, public, or private organizations, or as a CPA.
Bachelor of Business Administration in Healthcare Management
Learn how to apply business fundamentals within a healthcare setting through courses covering topics including ethics, patient care, and regulatory environments.
Bachelor of Business Administration in Management
Gain an in-depth theoretical understanding and practical working knowledge of business and leadership fundamentals.
Bachelor of Business Administration in Marketing
Prepare to expertly promote an organization through both traditional and digital marketing efforts based on effective analyses of demographics and consumer behavior.
Our Online Undergraduate Certificate in Digital Marketing
You’ll compound the skills and credentials gained from our BBA programs with a specialized undergraduate certificate. Certificates will expand your expertise and help position you for a broader choice of professional roles.
Our online undergraduate certificate in digital marketing is a 12-credit certificate program comprised of your choice of four eligible courses, all of which are offered as electives in our BBA programs. By choosing these applicable electives, you’ll earn an additional credential while completing the same number of total credits in the same amount of time—with no delay in graduation.
Our digital marketing certificate program will help you understand and succeed within the rapidly evolving digital landscape. You’ll gain a foundational understanding of the differences between traditional and digital marketing, build proficiency in Google Analytics and other search engine optimization tools, and master social media’s unique marketing tactics.
Advantages of Earning College Credentials Online
Our Bachelor of Business Administration degrees and undergraduate certificate in digital marketing are presented in a 100% online asynchronous format. This allows you to complete your coursework anywhere with internet access, 24/7, at your own pace. If you have professional or family responsibilities to attend to, or both, our flexible program is just what you need. Most of our program courses last just eight weeks, and all are taught by the same acclaimed faculty who teach them on campus. When you’re done with your degree program, you’ll graduate with two respected, career-enhancing credentials that can help you in many business roles.
Expand your business acumen and career potential by adding our undergraduate certificate in digital marketing to your UT Permian Basin BBA program!
The energy sector is growing steadily, and that means that there will be many jobs available to those with the right qualifications for years to come. If you’re already in one of these roles, an advanced degree or certificate can position you for management-level roles within your organization. However, at any stage of your career, you may be able to directly benefit from: A credential from an accredited, renowned business school on your resume.
Let’s examine what types of energy business roles are available and the educational credentials that can help keep you competitive for them at hiring time.
Rewarding Career Paths
Here are three vital business roles that you can pursue within an energy organization:
Financial Manager
Financial managers develop financial documents, guide organizations’ investments, and map out future financial objectives. Financial management is experiencing an employment boom, and with that boom comes highly competitive compensation rates. The U.S. Bureau of Labor Statistics (BLS) projects that financial manager jobs will grow by 15%—much faster than the average growth rate for all jobs—from 2019 to 2029. Perhaps even more notably, median annual pay for financial managers in 2019 was $129,890.
The BLS also reports that many businesses favor candidates who have a master’s degree in business administration or a related field, making our Master of Business Administration degree, which includes financial management as a core part of its curriculum, a sound professional investment.
Marketing Manager
Marketing managers are in charge of promoting a business’ brand, and their field is also a growing and highly lucrative one. According to the BLS, there will be a 6% increase in the number of marketing management jobs in the United States between 2019 and 2029. That’s faster than the average growth rate for all jobs, which is 4%. Further, median pay for marketing managers is $135,900 per year. Marketing management is also included as a core part of our Master of Business Administration degree program.
Financial Analyst
Financial analysts guide organizations and individuals in their investment choices. Right now, there’s a strong need for financial analysts in the U.S., and that trend will continue. The BLS forecasts a 5% increase in financial analyst jobs from 2019 through 2029, representing a growth rate faster than the national average. Median annual pay for financial analysts is estimated at $81,590, but some sources suggest those who work as financial analysts in the renewable energy sector can earn even more per year. In addition, the BLS states that a Master of Business Administration can boost a financial analyst’s potential for career advancement.
Online Programs to Accelerate Your Energy Business Career
The University of Texas Permian Basin offers online graduate degree and graduate certificate programs that can help you launch or advance within a career in the energy industry or an energy-related field. Both of these programs are delivered 100% online through our AACSB-accredited College of Business.
Master of Business Administration with Certificate in Energy Business
This graduate-level degree program helps you develop highly marketable operational expertise and leadership competencies related to the energy industry.
Graduate Certificate in Energy Business
This graduate certificate program is offered as a 12-credit stand–alone credential and translates your expertise in accounting, business law, finance, management, and marketing to the rapidly expanding energy industry.
Career-Friendly Online Convenience
All program courses are presented in an asynchronous online format that allows you to earn a respected credential on your own schedule while upholding your professional and personal responsibilities. Our program courses are taught by the same celebrated faculty who teach them here on campus, and most of the courses last only eight weeks!
Build the expertise needed to excel as a leader in an energy-related career with a UT Permian Basin online MBA or Graduate Certificate in Energy Business.
If you’ve ever Googled “How hard is the CPA exam?” you know the answer: very. The full exam runs 16 hours and is divided into four sections, each one focused on a core area of accounting:
If you asked a student preparing for the CPA, they’d probably tell you it feels like a part-time job.
The good news? The University of Texas Permian Basin’s online Master of Professional Accountancy (MPA) is built to support that journey. Our coursework aligns with all four CPA exam areas and helps you meet key eligibility requirements—especially if you’re planning to become a CPA in Texas.
The takeaway: You don’t have to navigate this process alone. The right program can make all the difference.
UT Permian Basin’s 100% online, AACSB-accredited Master of Professional Accountancy gives you the flexibility and structure you need to move toward CPA eligibility—without pressing pause on your career or personal life.
This program helps you build a strong foundation in both traditional accounting principles and the modern, tech-forward practices today’s organizations rely on. As you progress, you’ll learn to think critically, communicate clearly, and apply accounting concepts in real business settings.
And because the entire program is delivered online and asynchronously, you can learn:
Additional program benefits include:
Once you graduate, you’ll have completed key educational requirements needed to sit for the CPA exam, and you’ll hold a graduate degree that helps you stand out in a competitive field. For many employers, that combination—MPA + CPA eligibility—signals readiness, commitment, and advanced training.
Accounting is already a stable, respected career. But earning your CPA license takes things one step further. Here’s why so many professionals decide the extra effort is worth it:
Professional respect: The “CPA” credential carries serious weight. Clients and colleagues see CPAs as experts at the top of their field.
Put simply: Earning your CPA opens doors you may not even know exist yet.
Once you start the CPA exam, the clock begins ticking. You’ll have 18 months to pass all four sections, in any order you choose. Pass rates typically fall between 50 to 66%, so many candidates retake at least one section. It’s normal—and it’s exactly why strong academic preparation matters.
The CPA exam isn’t just a test; it’s a journey. Programs like UTPB’s online Master of Professional Accountancy are designed to help you start that journey with confidence.
If earning your CPA is part of your long-term plan, now is the perfect time to take the next step. Our online Master of Professional Accountancy can help you meet educational requirements, sharpen your accounting expertise, and prepare to sit for the exam, all while fitting school around your life—not the other way around.
Your future as a CPA starts with a program designed for where you’re headed.
Take the next step toward CPA eligibility. Apply here to get started.
Sources:
https://www.topaccountingdegrees.org/faq/what-benefits-does-a-cpa-certification-give-accountants/
https://www.indeed.com/career-advice/career-development/cpa-vs-accountant
https://blog.aicpa.org/2019/11/why-did-you-become-an-accountant.html#sthash.PUB0xySi.dpbs
https://www.accounting.com/careers/cpa/salary
When you hear the word “accountant,” who comes to mind? Someone balancing spreadsheets and filing taxes? If so, you’re on the right track. But there’s more to it. Within the field of accounting, one credential stands apart: the Certified Public Accountant (CPA). While both accountants and CPAs manage finances, advise clients, and ensure the accuracy…
Picture this: You’re a junior accountant, and your manager asks you to tweak a report to make the numbers look better. The request sounds harmless enough—just a small tweak—but you know it’s not above board. Now you’re stuck. Do you follow orders and risk crossing an ethical line, or do you push back and risk…
You’ve always been an analytical thinker. A problem solver. Maybe a math whiz, too. There’s a career that matches your strengths. Certified Public Accountants—or CPAs—excel in these qualities. Let’s explore why a CPA is no ordinary accountant and what it takes to become one. Want to Be a CPA? Here’s What You Need to Know …
Want to be a more effective leader? Understanding your management style is the first step.
From hands-off to motivational, every leader brings a unique approach to guiding their team. In this article, we’ll break down 7 common management styles, how they work, and when to use them—especially in today’s workforce, where collaboration, flexibility, and purpose matter more than ever.
Whether you’re a current manager or planning your next career step, this guide can help you align your leadership style with team needs and long-term goals.
You’ll find that there are many management styles and many ways to describe them. Let’s examine some of these management styles, in no particular order, and begin to explore what kind of leader you might want to be.
Take control and keep it. Make all key decisions yourself. You may consult with others, but ultimately, it’s all up to you. You must also stay very directly involved in everything your team is doing. This doesn’t necessarily mean micromanaging your employees, but rather staying tapped into the status of all projects.
Example: A CEO of a startup might use the autocratic approach when making pivotal decisions about the company’s vision and product development. They take full control of the decision-making process, consulting with team members but ultimately making the final call.
Sit back and let your people do what they do best, with minimal interference from you. If you’ve hired the right people, you may be surprised at what they can achieve when management steps out of the way.
Example: A senior manager at a tech company may delegate the responsibility of handling daily operations to their team while stepping back. With the hands-off approach, they trust them to use their expertise to meet goals with minimal intervention from leadership.
Focus on the overall direction of your team or organization and let your people deal with the day-to-day specifics that will help make your vision a reality.
Example: A creative director at an advertising agency might focus primarily on the agency’s overall direction, ensuring the team’s projects align with the company’s long-term vision. This leaves specific tasks like design and deadlines to the respective teams.
Show your people, in a positive way, why your vision and direction will ultimately benefit them and your organization. If you can create a clear picture for them, they will come over to your side.
Example: A marketing manager could use the influential approach by presenting the benefits of a new product campaign to the team. By showing how it aligns with both company goals and their professional growth, it may motivate them to work toward a shared vision.
Motivate your team through the judicious use of rewards such as bonuses and other incentives. This shows them in very tangible ways that you value their efforts and find them worthy of acknowledgement.
Example: A retail manager might offer performance bonuses and incentives to sales staff, rewarding them for meeting targets, and thereby boosting morale and encouraging continued high performance across the team.
Be a member of your team as much as its leader. Work together to find solutions to problems and develop effective strategies for success.
Example: A project manager leading a cross-functional team may collaborate closely with all members to devise strategies for overcoming challenges. This ensures that everyone’s input is valued and contributing to the overall success of the project.
Envision your staff as a team with you as its coach. Guide and mentor them, helping them improve their “game” and working as a cohesive unit driving toward the same goal.
Example: A sales leader mentors their team, offering regular feedback and guidance to help them improve their performance. They work alongside them to refine techniques and celebrate wins, creating a supportive learning environment.
For a snapshot of how each management style works, refer to the infographic below for brief descriptions that highlight their unique characteristics.
There’s no such thing as the “best” or “perfect” management style. What works for your team might not work for another. The management style that aligns with you and your team depends on both your personal preferences and the unique makeup of your team.
Every team has its own dynamic, shaped by the specific individuals who are part of it. Change one person, and you can completely alter the team dynamic. An effective leader “takes the temperature” of the team and adapts their approach to fit the situation, recognizing that no single management style is a one-size-fits-all solution.
Ready to sharpen your leadership skills and find your management style? The University of Texas Permian Basin offers an online Bachelor of Business Administration in Management. Our business program is one of a select few in the nation to be accredited by the respected Association to Advance Collegiate Schools of Business (AACSB International). Only 5% of the world’s business programs can claim this distinction.
We designed our program to build an in-depth theoretical understanding and practical, working knowledge of business and leadership fundamentals. It will help you strengthen your ability to think strategically and execute functional components of corporate operations, as well as improve your decision-making skills and your ability to apply business concepts in real-world scenarios.
Our Bachelor of Business Administration in Management is presented 100% online through asynchronous courses. This enables you to complete your coursework anywhere, 24/7, on your own schedule. If you’re currently working, have ongoing family responsibilities, or both, you’ll find this flexibility to be a tremendous advantage. Most of our program courses last just eight weeks. When you’re finished, your BBA provides a respected educational credential that can help you in your current and future professional endeavors in practically any business sector.
Develop leadership qualities that can help you gear your management style to today’s workforce with an online Bachelor of Business Administration in Management!
Sources:
https://www.workzone.com/blog/management-styles/
https://www.valamis.com/hub/management-styles
https://www.hatchbuck.com/blog/top-5-things-millennials-want-workplace
https://www.techrepublic.com/article/what-do-millennials-want-and-expect-to-get-from-work
Video calls. Robot vacuums. Voice assistants. Thirty years ago, we only saw this technology in cinema or on TV. Today, they’re billion-dollar industries. Many of the technologies now reshaping how we live and work first appeared in movies or on TV. While most viewers were happy to lose themselves in the narrative, an enterprising few…
Forget everything you think you know about management roles, like the idea that for the rest of your life, you’ll be chained to a desk under a ceiling of fluorescent lights. That’s not what management looks like—or at least, it doesn’t have to be. A business management degree doesn’t condemn you to a cubicle; it…
“It’s a beautiful summer day …” your star employee says as they stare longingly out the window. And chances are, they’re not the only one. Summer tests even the strongest teams. As the dog days hit, bloggers and journalists love citing a 2012 survey claiming that productivity drops a massive 20% during the summer. But…
From groceries to furniture to Friday night entertainment, more and more of our purchases happen with a tap or a click. Digital commerce—once a novelty—is quickly becoming the default way people buy and sell products and services.
But what is digital commerce exactly, and why does it matter so much today?
Simply put, digital commerce is the buying and selling of goods and services through digital channels, like websites, apps, and social media platforms. But it’s more than just online shopping. Digital tools create seamless, personalized, and accessible buying experiences from the moment a customer finds your product until the moment it’s in their hands (or downloaded to their device).
In this article, we’ll explore why digital commerce is essential for today’s businesses, how consumer habits are shifting, and how you can prepare for a future that’s increasingly digital.
While the COVID-19 pandemic gave online shopping an extra push, the shift began long before and shows no signs of slowing down.
So, why does digital commerce matter so much? Several factors contribute to its growing importance:
Even traditional retailers have adapted. Many brick-and-mortar retail chains are closing multiple locations, while others are completely closing up shop while keeping their virtual doors open through online channels.
You may still open a brick-and-mortar shop today, but a digital commerce component is essential to every business. Many people browse in physical stores to get to know a product, especially if it’s an expensive item, but ultimately purchase it online.
So, what makes digital commerce so appealing? There are several reasons why customers prefer online shopping over in-store experiences:
Black Friday, traditionally a bustling day for retail shopping and special deals after Thanksgiving, has been declining in popularity. It seems people are becoming less willing to wait outdoors for days to score a 50-inch OLED display TV for $50 than they once were.
Starting in 2005, Cyber Monday—the Monday following Thanksgiving—has grown in popularity and become a boon for digital commerce. The deals are equally as appealing as any offered on Black Friday, but there’s zero chance of getting trampled by overzealous bargain hunters, and there’s no need to camp out on cement sidewalks in inclement fall weather. Cyber Monday takes place entirely through retailers’ e-commerce sites.
The intangible nature of the internet has made possible the sale of intangible products. Of course, you can still order and pay for a couch, a fishing pole, or a pizza on the internet and have it delivered to your home. That’s not likely to change. But the internet itself has become the actual means of delivery for many purchases, some of which we discuss below.
Music and movie purchases today are often in the form of downloads rather than physical media. (An exception, the vinyl LP has reemerged in retail stores after largely disappearing in the ‘90s.) Many people also have subscription services (Netflix, Prime, Hulu, Spotify, Apple Music, etc.) for these types of entertainment that enable them to watch or listen to whatever they want anytime, but they don’t actually own physical copies of the movies or music.
Paper gift certificates have been sold since at least the 1930s. In the 1990s, paper certificates gave way to gift cards, which were harder to copy, more durable in the wallet, and easier for a store clerk to use. If a paper gift certificate had a remaining balance, the clerk often had to create a new certificate reflecting the new balance, whereas modern clerks can simply swipe a gift card like a credit card and leave the remaining balance on the card.
While tangible gift cards remain popular, the electronic version allows recipients to shop online using a code they receive through their email. An individual can receive a gift card from another individual who lives far away and use it—all within moments—through an online retailer equipped for digital commerce.
The growing popularity of digital commerce appears to be a generational phenomenon. Research has shown that 80% of Gen Z and 75% of millennial buyers prefer to shop online compared to 65% of Gen Xers and 55% of baby boomers.
As the older population moves on, younger shoppers—largely millennials, for whom digital commerce has been a near-constant—will become the driving retail force, and their preference for online shopping isn’t likely to change. Shrewd businesses have prepared for this by expanding their digital commerce capabilities.
If you want to build a career in digital commerce, whether that means starting a career or furthering your existing career, education is a must. The University of Texas Permian Basin offers an online undergraduate certificate in digital marketing —naturally—through our AACSB-accredited College of Business. Our digital marketing certificate complements your business degree with specialized knowledge that will equip you to thrive in a career within the rapidly evolving digital landscape. You’ll learn:
You can complete our 12-credit certificate program in tandem with any of our undergraduate bachelor’s degree programs. Each program course is dedicated to key aspects of digital marketing. Choose any four courses from the following:
Our flexible, 100% online digital commerce program features eight-week courses delivered in an asynchronous format. That means coursework is accessible anywhere, 24 hours per day. Complete your studies around any professional and personal responsibilities you may have—an advantage campus-based programs don’t offer. The future of your education, as with commerce, may be online.
Sources:
https://www.vendhq.com/blog/brick-and-mortar-vs-ecommerce
https://www.ibeta.com/e-commerce-versus-brick-and-mortar/
https://www.cnbc.com/2019/11/26/black-friday-is-losing-its-clout-more-bad-news-for-department-stores.html
https://www.cnbc.com/2020/10/02/black-friday-is-over-heres-why-retailers-are-touting-weeks-of-deals.html
Gen Z and younger millennials haven’t just entered the consumer marketplace. They’re reshaping it. According to a 2024 survey, 20% of U.S. consumers made purchases on a social media platform at least weekly. This means Gen Z and millennials are setting the tone for how future generations will discover and buy from brands. These digital…
Honoring and celebrating our mothers has been a global tradition throughout history. Although Mother’s Day was officially declared a U.S. holiday in 1914, its origins date back centuries. People have honored their mothers across cultures and time periods through festivals, religious observances, and communal gatherings. Understanding the historical significance of holidays like Mother’s Day provides…
Many of us feel the invigorating sense of fresh starts and second chances that New Year’s brings. On January 1st, we’re often eager to embrace a healthier, polished version of ourselves—and we’re not alone. According to a 2024 Forbes Health poll, 48% of participants said improving their fitness was their top priority, 36% cited improving…
In recent decades, accounting has unfortunately become synonymous with scandal in the world of big business. While the vast majority of companies use legal and ethical accounting practices, many of those involved in scandals are or were major players with household names. This cast an unfortunate shadow over a very important and legitimate profession.
What causes accounting scandals? Greed is a factor, though some types of accounting frauds are carried out to protect the solvency of a company. Let’s look at five of the biggest headline-generating accounting scandals in recent memory and see what steps have been taken to prevent future occurrences.
General Electric (2019)
In early 2018, the Securities and Exchange Commission (SEC) announced it was investigating General Electric (GE) for what it called “aggressive accounting” practices. Later the same year, the Department of Justice also began an investigation of GE. The following summer, a whistleblower accused the corporation of fraud to the tune of $38 billion. The company had financial woes due, in part, to losses in its long-term care insurance division. Put simply, policyholders were living longer than expected, forcing the company to pay out more claims year after year. The company was accused of hiding massive losses to disguise its true value. Its stock took a large hit, CEO John Flannery stepped down, and the company was removed from the Dow Jones Industrial Average after more than 120 years.
Bernie Madoff (2008)
One of the most highly publicized financial scandals was stockbroker Bernie Madoff’s Ponzi scheme. Named after Charles Ponzi, who conned investors in the 1920s, this type of scheme involves paying current investors with funds solicited, under the guise of an investment, from new investors rather than through an actual investment. The fraudsters typically skim some money for themselves from every transaction. Madoff was ultimately sentenced to 150 years in prison and had his $170 billion fortune and property seized. Several others who were involved in Madoff’s scheme, including one of his sons and a number of investors, committed suicide. His scheme wiped out the life savings—estimated in the billions—of investors worldwide.
Lehman Brothers (2008)
This renowned global financial services firm went bankrupt after misrepresenting its financial assets, constituting the largest bankruptcy case in U.S. history at the time. Executives at the company and Ernst & Young, the company’s auditor, collaborated to hide $50 billion in loans by listing them as sales. Lehman Brothers had been an aggressive lender during the housing bubble of the early 2000s. When the subprime mortgage market collapsed (starting around 2007), the firm was dealt a financial blow that eventually proved fatal. Ironically, Lehman Brothers had been named the #1 “Most Admired Securities Firm” by Fortune Magazine just one year before its collapse.
AIG (2005)
Multinational insurance company American International Group (AIG) acknowledged securities fraud to the SEC. In a press release, the commission declared that AIG “materially misstated its financial results through sham transactions and entities created for the purpose of misleading the investing public.” The press release details various irregularities connected with the corporation’s financial misstatements, concluding that “as a result of these actions and other accounting improprieties, AIG fraudulently improved its financial results.” The bailout of AIG, considered “too big to fail” since its assets were intertwined with so many other financial institutions worldwide, created its own scandal, as American taxpayers bankrolled the rescue with funds that AIG executives accepted as bonuses. AIG is still in operation to this day.
As a response to unchecked use of taxpayer funds that occurred after financial scandals such as AIG, efforts have been made to prohibit companies that receive coronavirus-related bailouts from enacting mass layoffs or compensating executives. So far, these efforts have been unsuccessful.
Enron (2001)
Enron Corporation was an energy, commodities, and services company that collapsed due to multiple financial offenses, taking with it the massive accounting firm Arthur Andersen. Enron had misled regulators with fake holdings and off-the-books accounting practices. The company, which had losses of $591 million and was $690 million in debt by late 2000, had managed to hide its debt and toxic assets from investors and creditors. Enron’s stock tumbled, the company declared bankruptcy, and thousands of employees lost their jobs and pension benefits. Some of Enron’s executives were eventually charged with conspiracy, insider trading, and securities fraud. Company founder and former CEO Kenneth Lay was convicted but died before sentencing. Lay’s replacement as CEO, Jeffrey Skilling, was convicted in 2006 and received a 17.5-year prison sentence; he was released in 2019.
As a result of the accounting scandals of the early 2000s, Congress passed the Sarbanes-Oxley Act to shield investors from fraudulent financial reporting by corporations. This law strengthened existing securities regulations and levied stricter penalties on lawbreakers. Later, in response to the financial recession that started in the U.S. in 2007, the Obama administration helped enact the Dodd-Frank Wall Street Reform and Consumer Protection Act, which created a dedicated consumer financial protection watchdog, made financial markets more transparent, and gave the government more tools to monitor risk and rein in firms whose failure might jeopardize the country’s financial system.
Learn modern accounting practices as you prepare for a career in accounting or position yourself to advance within the field in an online degree program from The University of Texas Permian Basin. Gain the skills that can help you thrive as a knowledgeable, ethical CPA or in other related professions. We offer multiple programs at the undergraduate and graduate level, including:
All of these programs are available 100% online through our AACSB-accredited College of Business, the gold standard for business schools. Classes are delivered asynchronously, which means you can complete coursework on your own schedule. This is a tremendous advantage when you have professional and family responsibilities to meet while you’re earning your degree.
See how you can become an ethical and successful financial professional with help from an online UT Permian Basin accounting program.
Sources:
https://corporatefinanceinstitute.com/resources/knowledge/other/top-accounting-scandals/
https://www.accountancyage.com/2019/03/20/a-summary-of-the-cases-of-financial-scandals-of-2018/
https://www.accounting-degree.org/scandals/
https://www.cnbc.com/2018/10/30/ge-says-sec-expanding-scope-of-ongoing-accounting-investigation-shares-fall.html
What are ethics? Merriam-Webster offers these definitions: “the discipline dealing with what is good and bad and with moral duty and obligation” and “a set of moral principles.” In the world of high finance, ethics has its own distinct definition that’s connected with the appropriate use of money, whether it’s one’s own money or someone else’s.
Corporate finance, according to Investopedia.com, refers to “how corporations deal with funding sources, capital structuring, and investment decisions.” Corporate finance focuses on “maximizing shareholder value through long and short-term financial planning and the implementation of various strategies. Corporate finance activities range from capital investment decisions to investment banking.” In short, corporate finance is about where an organization gets its money from and how it decides to use that money.
Public Demand for Ethical Investment Choices
One prominent example of how ethics ties in with corporate finance is the South Africa divestment movement. In the mid-1980s, when South Africa was still under the segregationist apartheid system, American university students targeted U.S. companies that did business in South Africa in an effort to bring the apartheid system down. Participants in this divestment campaign pressured their own universities to divest from those companies. The idea was to compromise the finances of South Africa enough so that it had no choice but to change. The effort worked.
By 1990, more than 200 U.S. companies had divested from South Africa, taking with them $1 billion worth of investment from that country’s economy. Clearly, those businesses had gotten the message from the student-led university divestment and chose to do business elsewhere. Even if their motive for doing so was financial, the companies’ actions constituted an ethical use of financial capital.
Today, there are published lists of companies that embody socially responsible investing, or SRI. These lists tend to automatically eliminate any businesses connected with weapons, tobacco, alcohol, adult businesses, nuclear power, and coal, to name a few. Companies that focus on sound environmental policies, social responsibility, and strong governance are more likely to make the list.
It’s not unusual for customers, investors, and even the general public to renounce and boycott companies that run afoul of these principles. Conversely, those that adhere to them can reap significant financial rewards. For this reason, anyone involved in corporate finance today must have a firm foundation in ethics.
Insider Trading
Insider trading is one of the most common ethical issues in finance. Insider trades involve the buying or selling of stocks and securities using information that has been shared but is not publicly known. An insider is often someone in a management function of a corporate entity or an individual with whom they share information for their own benefit.
Many laws against insider trading in the United States came about following the stock market crash of 1929, which marked the beginning of the Great Depression. A spate of business mergers in the 1980s sent a lot of money flowing through the stock market. This is when selling (versus sharing) insider information was outlawed.
Former investment banker Ivan Boesky was involved in one of the most notorious insider trading cases in U.S. history. During the 1980s, Boesky accumulated an estimated $200 million by trading on corporate takeovers and mergers using information that was not publicly known. In exchange for helping the U.S. Securities and Exchange Commission (see more below) incriminate other corporate insiders who were under investigation, Boesky received a short prison sentence, a fine of $100 million, and a lifetime ban from working in securities. His name became synonymous with corporate greed.
Many financial scandals with big names attached to them would follow, including Enron, Worldcom, Bernie Madoff, and Jordan Belfort, who wrote the best-selling memoir The Wolf of Wall Street. Ethics may always be an issue in the world of high finance, but efforts are being made to stem the flow of money under illegal or immoral circumstances by outwardly legitimate parties.
Ethics Codified in Corporate Finance
Today, many American corporations and financial markets have adopted ethical codes, typically established by agencies such as the Securities and Exchange Commission (SEC), one of the top regulatory agencies for the securities industry. This agency implements federal laws and regulations that deal with the ethical conduct of businesses and individuals operating within the securities field. In addition, many companies have set up their own ethics offices to self-govern their financial conduct.
Online Master of Business Administration with a Concentration in Finance Degree
Our online Master of Business Administration with a concentration in Finance program helps you develop the marketable operational knowledge and leadership skills you need to advance in many rewarding corporate careers, including:
Under the guidance of the same distinguished faculty members who teach the program on The University of Texas Permian Basin’s campus—including successful business professionals—you’ll discover how to:
We offer our MBA Finance program through our College of Business, one of the select business schools in the nation (and the only one in the Permian Basin) to be accredited by the prestigious Association to Advance Collegiate Schools of Business (AACSB International). This is a distinction that only 5% of schools granting business degrees worldwide have received.
Advantages of Our Online Programs
Our Master of Business Administration with a concentration in Finance degree, and many other programs that UT Permian Basin offers, is presented 100% online through asynchronous courses. This format enables you to complete your coursework anywhere, 24/7, on your own schedule. If you’re already working and/or have ongoing family responsibilities, you’ll find this flexibility to be a tremendous advantage. Our program also features accelerated time to completion (as little as 15 months), eight-week courses, and six start dates per year. When you’re finished, it provides a respected educational credential that can help you in your present and future professional endeavors.
Prepare for the world of finance with a strong foundation. An MBA with a concentration in Finance from UT Permian Basin is the place to start.
Sources:
https://www.encyclopedia.com/finance/finance-and-accounting-magazines/ethics-finance
https://www.britannica.com/biography/Ivan-Boesky
Businesses concerned only with short-term goals overcome immediate challenges but fail to prevent their recurrence. Alternatively, businesses with only long-term goals may not last long enough to see them reached. Finding an adaptable middle ground between these two attitudes is a balancing act that senior financial analysts, finance managers, investment bankers, and other professionals must perform when making a financial plan.
Professionals capable of finding the balance between optimism and realism are compensated handsomely for their expertise and efforts: financial managers make a median yearly salary of $161,700. As we discuss how to balance long-term and short-term financial planning, a valuable skill in virtually any field, consider where a career in finance could take you. Earning a Master of Business Administration (MBA) with a concentration in finance could lead to your next big career move.
Short-term financial planning is about solving immediate problems and developing strategies that will lead to results, usually within one year. Short-term goals should be achievable and adaptable to emerging circumstances. Let’s take a look at several common short-term goals and see how they translate into long-term success.
Increasing revenue by the end of the fiscal year is a common goal for financial professionals, but accomplishing this task is not as simple as charging more for products or services, having employees work longer hours, or taking unnecessary risks—especially if you hope to establish sustainable business practices. Incorporating more forward-thinking strategies, such as broadening your audience or recruiting a loyal workforce, can ensure that your immediate fiscal growth continues into the future.
Cash flow issues are not automatically resolved when a company turns a profit. Business leaders who fail to account for how cash flows in and out of their company could experience record profits one month and payroll issues the next.
Balancing long-term and short-term financial planning means more than just surviving from month to month. A strong financial plan will ensure that there are always enough cash reserves, especially during times of economic uncertainty, by budgeting for expenses accordingly.
From mom-and-pop stores to large corporations, every business needs to be properly structured. According to the U.S. Small Business Administration, “[t]he business structure you choose influences everything from day-to-day operations, to taxes, to how much of your personal assets are at risk.”
Choosing the ideal structure for a business means saving money in the present and setting a company up for success in the future.
The axiom “it takes money to make money” will stay with you throughout your career in finance. Whether it’s a loan or investment, finding a reliable source of funding is often necessary to get a venture off the ground.
Still, there’s no need to think of this as a necessary evil. Countless business partnerships have been born from these arrangements and are often instrumental in ensuring a company’s long-term success.
Once short-term goals have been established, it’s time to create a five- or ten-year plan that will see your company’s mission realized. Where will your company be in a decade? It’s okay if you don’t have the answer to that question just yet. That’s what long-term financial planning is for.
According to the Government Finance Officers Association (GFOA), long-term financial planning is “the process of projecting revenues and expenditures over a long-term period, using assumptions about economic conditions, future spending scenarios, and other salient variables.” Although the GFOA deals with government agencies, the principles of their long-term financial planning definition apply to businesses as well. Essentially, financial professionals are meteorologists who forecast budgetary needs instead of the weather.
To plan for these needs effectively, businesses should have SMART long-term financial goals. As outlined in Forbes, SMART stands for: specific, measurable, attainable, relevant, and time-bound. It may be tempting to keep a long-term financial goal broad—remain profitable, for example—but your long-term goals should be as well defined as your short-term goals.
For instance, if your company has a short-term goal to generate $1,000,000 in net income in one year, you may also want to consider a long-term five-year goal of generating $5,000,000 in net income annually.
To achieve these long-term goals, you’ll need a financial plan that includes the following elements:
You can gather the data and insights needed for a long-term financial plan by building on the processes established through your short-term goals. The lessons learned in a single fiscal year help shape projections, inform strategic decisions, and strengthen your path toward long-term success. While balancing optimism and realism is still key, integrating both short- and long-term goals into your overall financial plan ensures your business is positioned for sustainable growth.
Long-term and short-term financial planning are two sides of the same coin. You can’t plan for the future without considering current needs. Similarly, you can’t plan for a lifelong career in finance without first considering your immediate next steps. Before enrolling at UT Permian Basin, all of the students in our online MBA program with a concentration in finance had to consider this very dilemma, and they all arrived at the same conclusion.
An MBA is a versatile degree with almost limitless potential, and an MBA with a concentration in finance will only make you a more viable candidate for lucrative positions. If you’re looking to establish a career in finance or advance at your current company, our program can help you get there. At The University of Texas Permian Basin, you will:
Many of our students already have established careers and demanding schedules. Fortunately, our MBA in finance program is 100% online and can be completed in as little as 15 months, which means you can continue working while pursuing your education. If your personal long-term goal is to rise through the ranks and obtain a high-paying paying position in the field of your choice, an MBA with a concentration in finance can help you achieve it.
Learn more about UT Permian Basin’s online MBA program with a concentration in finance.
Sources:
https://www.forbes.com/sites/forbessanfranciscocouncil/2019/04/03/how-to-create-a-long-term-plan-for-your-small-business/#20fd1dde5b1b
https://www.sba.gov/business-guide/launch-your-business/choose-business-structure
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