Just as the internet revolutionized our lives starting in the 1990s, artificial intelligence (AI) is transforming the way we interact with others, run businesses, and conduct many other aspects of our lives in the 2020s. While AI is by no means a new concept (depending on which source you consult, it was conceived sometime during the 1940s to 1960s), you’re hearing so much about it now for good reason.
There’s an analog to the journey of the computer in the recent emergence of AI. Computing once required a large room filled with banks of giant tape-driven machines with limited speed and storage capacity and a hefty price tag. Then came the personal computer, which put computing literally at the average person’s fingertips.
At one time we only saw AI applications in business, the military, and scientific sectors. Now AI is available to the masses in a robust, user-friendly form thanks to applications such as ChatGPT, Jasper, and Midjourney. Average people are now more aware of its power and potential, though many of us have long been using AI, even if we didn’t know it. Interactive, automated phone menus are one everyday example.
Like computers and the internet, AI has the potential to be another game-changer for business and society in general.
The business applications of AI are many—and growing. This technology is being broadly adapted, and an increasing number of businesses rely on AI to complete tasks faster, more accurately, and more affordably than was previously possible. Here are some of the ways AI is currently being harnessed in the business world:
An organization that uses AI for any combination of the tasks outlined above can certainly establish a competitive edge. Still, there are increasing concerns that AI will put many people out of work. And unlike those of us who must “cite our sources,” AI draws liberally from existing works without identifying them, potentially violating all manner of copyrights, trademarks, and intellectual property rights.
With consumer-oriented AI still in its infancy, society will have to work out these concerns and determine a new normal amidst a dynamic and contentious landscape. Calls to regulate the technology are already coming from all corners, including major think tanks, nervous lawmakers of all political stripes, AI entrepreneurs, and Hollywood scriptwriters.
No matter what the prevailing technology is, the fundamentals of business remain the same. That means that you still need recognized business credentials to flourish in the field, no matter what kind of high-tech help you may be getting. The University of Texas Permian Basin’s AACSB-accredited College of Business offers online programs that enable you to acquire those qualifications. Choose the degree that corresponds to your education level:
Bachelor of Business Administration in Management
Build the foundation for a leadership role in a variety of business disciplines. This undergraduate degree program allows you to add a concentration in operations management, a highly lucrative career field. As you complete your degree, you’ll gain a deep understanding of practical and theoretical business fundamentals.
Master of Business Administration
Aim for the highest levels of business management with an MBA, the degree the U.S. Bureau of Labor Statistics says is closely associated with top executives of large corporations. Our in-demand graduate program comprises all the business disciplines, including management, marketing, finance, and accounting, giving you the broad perspective essential to leading a business of any size. “MBA” is a title you’ll be proud to wear and a designation hiring managers look for in their candidates. Some companies may require a master’s degree for new hires or those seeking advancement within their organization.
The introduction of any new technology to a field brings the potential to transform that field for the better. Just consider the unequaled benefits of getting an education through our 100% online degree programs:
Build the expertise to succeed in business no matter what technology is leading it. UTPB has the online programs you need. Apply today!
Sources:
https://www.npr.org/2023/05/25/1177700852/ai-future-dangers-benefits
A small candle business with a limited budget once relied solely on word of mouth to attract customers. But with a few well-placed social posts, some glowing customer reviews, and a simple video tutorial, their reach started to grow—and so did their sales.
Stories like this aren’t rare. Small businesses everywhere are learning that with the right strategies, it’s possible to market effectively without overspending. From digital tools to creative content, there are plenty of ways to get noticed without breaking the bank.6 Cost-Effective Marketing Ideas
Below, we explore six cost-effective marketing ideas for businesses, no matter their size:
Some surveys reveal that about 95% of shoppers consult online reviews before making a purchase and nearly 60% are willing to pay a premium for a product that has positive reviews. With that in mind, it’s critical for businesses to provide a good customer experience. If you’re a business owner or marketing professional, encourage satisfied customers to share reviews on your website and highly trafficked review sites. Reviews cost nothing and can have a significant impact on your business.
If you can effectively use SEO tactics to tie your product or service to something that’s trending on the internet, you can attract potential customers at a very low cost. Offering interesting, useful, timely blogs or articles on a regular basis is key.
New AI tools enable you to assemble shareable, professional-looking videos with minimal text using stock photos and music in just minutes with minimal expenditure. You may even be able to create high-quality videos on a cell phone alone. Share these videos on popular social media platforms and your own website.
Coupons are very easy to send and share electronically. Still, there are risks: A discount coupon can become too popular and end up costing you more than you expected. It’s important to limit the number of coupons you distribute and also limit their stated discount amount.
With qualified leads—people with a genuine interest in or need for your product or service—and valid email addresses, an email list can yield many prospective customers at a relatively low cost. It’s crucial to make sure you have a vetted list and the recipients’ opt-in permission. The same applies to SMS or text marketing.
Start by conducting a bit of market research to identify which social media platforms your target audience uses most. Once you’ve narrowed it down to one or two key platforms, create a content plan and start building a following through posts, reels, stories, and engaging visuals. Organic content helps grow brand awareness over time, while paid ads—despite requiring a budget—can be highly targeted and surprisingly affordable.
Whether you’re launching a business or looking to stretch your current marketing budget further, it’s natural to have questions about what actually works. Below are a few commonly asked questions and clear, practical answers to help guide your next steps.
Boost your marketing savvy and career potential with an online marketing program from The University of Texas Permian Basin. All of our AACSB-accredited online business programs are built around a robust curriculum and taught by our accomplished faculty. They’re also a cost-effective choice:
Master the marketing strategies that work for your business goals and budget in these programs:
Online Bachelor of Business Administration in Marketing
Explore potential career paths.
Online Undergraduate Certificate in Digital Marketing
View certificate program courses.
When you choose UT Permian Basin for your degree you’ll enjoy great quality from the start—and tremendous potential at the finish. We’ve been recognized for our online programs in criteria including engagement, faculty, services, and support:
See what a marketing bachelor’s degree can do for your career potential:
The first true test of your marketing expertise may be marketing yourself to potential employers. Be ready to show them you have the credentials and corresponding skills! Apply today.
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…
What’s Valentine’s Day without a bouquet of roses, heartfelt greeting card, or heart-shaped box of chocolates? At least, that’s what it feels like for anyone shopping for their significant other, if only to outdo the previous year. No wonder so many people believe that this commercial holiday started as a marketing ploy. In actuality, the…
The clock strikes midnight, and the doors burst open. A crowd of people rush in, many of whom camped outside to hold their place in line, some of whom have looked forward to this day all year. Pushing through the throng, shoppers spread out and hunt for the lowest prices. The fervor is highly contagious,…
The MBA is the most popular graduate management degree in the world—and for good reason. According to a 2022 report by the Graduate Management Admission Council, 86% of graduates holding a Master of Business Administration were employed by the time of graduation.
Many students pursue this degree to switch industries, catapult their careers, or open doors to a variety of business opportunities, from entrepreneurship to management. However, it can be one of the most expensive graduate degrees to earn, with some students paying up to $200,000 in total.
So, the burning question for you may be: Is it worth the investment?
Like any graduate degree, analyzing the costs and benefits is an important business decision by itself. Let’s break down what an MBA can truly offer and help you make an informed decision.
The first step in determining an MBA’s worth is to analyze the cost. For a full-time, two-year MBA program, expect to pay:
Given the significant financial commitment, it’s important to weigh your options carefully. At The University of Texas Permian Basin, our students come first, and we’ve made every effort to keep programs affordable while offering a top-notch education.
UTPB is ranked one of the top business schools in the nation and is accredited by the Association to Advance Collegiate Schools of Business. Our accelerated MBA program costs less than $15,000 and can be completed in just a year. Classes are entirely online and asynchronous, meaning you can complete your courses from anywhere in the world with no extra living expenses or the hassle of a set schedule.
Your next question may be: What about student loans? On average, MBA students owe between $28,000 and $100,000 after graduation. With the increasing demand for MBA programs, securing financial aid can sometimes be a competitive process.have its challenges..
At UT Permian Basin, our online programs don’t require you to be on campus and don’t charge out-of-state tuition rates, meaning you won’t have to make that move or even leave your house. Most students who attend our online MBA program take out a median of $16,779 in loans to complete their studies: far less than the national average. (Visit our respective financial aid and scholarships pages to learn more.)
MBA graduates make about twice as much as other graduate degree holders. According to a 2022 GMAC Report, full-time MBA students see their median salary increase 50% from pre-MBA to post-graduation—from $80,000 to $120,000 a year.
The sector you choose to work in also plays a role in your overall salary potential. If you pursue a career in consulting, you may make around $147,200 yearly, while government employees make around $87,700 yearly.
According to 2023 Lightcast data, financial analysts are in highest demand in the business sector, followed by operations managers and product managers. Business development managers and marketing managers are also among the top-10 in-demand positions.
To give you a better idea of annual salary potential in these roles, here is a list of some top occupations for an MBA graduate:
As you can see, earning an MBA has considerable, long-term payoff. What if you can do all of this without risking your financial resources and work-life balance—from the comfort of your home?
UTPB offers the flexibility and convenience of online learning with the prestige of a top-ranked business school. According to 2023 data from SeekUT, students who graduate from our MBA program enjoy a starting median salary of around $77,000, which exponentially increases about 20% for every two years of employment.
Many prospective MBA students want to grow their skills in areas of interest in which they lack experience. For example, if you have a strong grasp on finances but need marketing skills to climb the corporate ladder, you may want to hone your skills in the weaker area. Our online MBA allows you to choose specializations in Accounting, Finance, and Marketing or add an Energy Certificate to your degree.
Ready to make an invaluable, life-changing investment? Join our successful students at UTPB’s College of Business. We accept applications year-round, so whenever you’re ready, apply here!
Sources:
https://seekut.utsystem.edu
https://lightcast.io
https://educationdata.org
https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/what-an-mba-degree-is-and-what-you-need-to-know
https://www.investopedia.com/terms/m/mba.asp
https://www.mba.com/explore-programs/choose-and-compare-programs/what-is-an-mba
https://www.forbes.com/advisor/education/mba-cost
https://www.usnews.com/education/best-graduate-schools/top-business-schools/applying/slideshows/10-best-public-b-schools-for-a-full-time-mba
https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/how-an-mba-can-lead-to-career-change
“Culture is simply a shared way of doing something with a passion.” —Brian Chesky, co-founder and CEO of Airbnb Psychologist Ed Schein first coined the phrase “company culture,” defining the concept as a set of common beliefs and habits developed by a group to solve problems and fit in. So how can we build such a…
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…
Meetings. Emails. Last-minute requests. Some days, it feels impossible to knock anything off the to-do list. If this sounds like you, you might be in need of some time management tips and tricks. Time management is a skill like any other, and it can be honed with practice and patience. We’re here to show you…
Depending on whom you ask, we are already in a recession, we can expect one very soon, or we may experience only a small correction in the coming months. As of this writing, a definitive conclusion remains elusive. There are certainly factors that suggest a recession is looming. However, there are also indications that a 2020s recession could differ in some significant ways from the Great Recession of 2008. We’ll examine these indications before discussing how financial professionals are well positioned to withstand troubled economic times and what you’ll need to succeed in this resilient field.
Is the writing on the wall for a recession? If so, the wording is different. Consider these factors:
The 2008 recession—when unemployment in the United States reached 10%—was triggered in large part by the 2007 “housing bubble” burst. While many people snatched up homes with loans they couldn’t afford in the early 2000s, many eventually defaulted on their mortgage payments. According to Experian, the subprime mortgages at the center of the housing bubble that were designed to enable individuals with poor credit to buy a home are now subject to greater government regulations.
One significant difference between the 2008 recession and a potential 202X recession is the state of the job market. We entered 2023 with the employment sector still reeling from the “Great Resignation” largely attributed to the COVID-19 pandemic. The federal government has reported that an unprecedented 50 million people voluntarily resigned from their jobs during 2022 alone.
An NPR report explained the resulting problem: “Some businesses say they’re reluctant to let employees go, even if demand drops, after struggling for much of the last two years to find enough workers.” At present, the job market is still considered to be in good shape, though recent layoffs announced by major companies including Amazon, Google, and Disney suggest a formerly “hot” job market may be cooling off.
Forbes states it plainly: “Inflation is much worse today than in 2008.” The 2022 consumer price index (CPI) was +8.3%: a significant increase over 2008’s -0.02%. Financial experts do not expect to see inflation level out until at least 2024.
Whatever the status of any possible recession may be, it’s always a wise idea to stay prepared, since this phenomenon certainly appears to be cyclical. Over the last three quarters of a century, the United States has not gone much longer than 10 years without experiencing a recession. Considering the last recognized recession ended in 2009, any impending recession is behind schedule.
One way to prepare for an unknown economic future is to build credentials in a field that doesn’t typically experience the full brunt of a downturn. Many prominent sources, including the ones listed below, have included financial services among their lists of recession-proof industries. Some financial services firms may even thrive during a recession: a time when people are typically more concerned than ever about their finances.
Having the right professional credentials can make all the difference in sustaining employment when a recession hits, companies reduce staff, and new jobs become scarce. The corresponding skills and knowledge can make you an indispensable part of your team or a leading candidate for a new position in a competitive hiring environment.
During a downturn, companies and individuals will need experts who can help them manage their money wisely. The University of Texas Permian Basin’s 100% online finance degree programs empower you with financial management expertise that can make you irreplaceable and put you in line for rewarding finance-related positions. Led by acclaimed faculty with real financial industry experience, our AACSB-accredited finance programs include:
Online Bachelor of Business Administration in Finance
Build core financial management skills that will serve you well in a variety of careers and prepare for Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) professional designations with a BBA in finance.
Online Master of Business Administration in Finance
Already have a bachelor’s degree? Add the prestige of an MBA to your resume. Gain vital operational acumen and leadership savvy in a 33-42 credit program that you can complete in as little as four semesters.
Online Master of Science in Finance
Focus on honing your financial management competencies in a 30-credit program that is one of very few Texas university programs of its kind with STEM certification. Finish in 12 to 24 months.
With one of these degrees, you can compete for a new position or perform to a higher standard in roles such as:
Financial Manager
Median annual pay: $131,710
Financial Analyst
Median annual pay: $95,570
Personal Financial Advisor
Median annual pay: $94,170
Budget Analyst
Median annual pay: $79,940
The asynchronous online format of our finance degree programs offers you the freedom to complete studies on your own schedule from virtually anywhere in the world. No campus visits are ever required. If you have work and/or personal responsibilities, our programs can enable you to meet your obligations as you earn a widely respected, career-enhancing degree.
Face an economic storm equipped with a stronger resume! Apply to one of our online finance degree programs today.
Sources:
https://www.forbes.com/sites/forbesfinancecouncil/2022/12/05/comparing-2022-to-2008-what-key-economic-drivers-mean-for-investors/?sh=72254de81e7e
https://www.cnn.com/2022/08/05/perspectives/jobs-recession-economy-labor-shortage/index.html
https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/
Every time you pull up to the pump, it feels like a game of chance. One day, it’s a bargain; the next, you’re paying way more than expected.
While it’s easy to blame oil companies, politicians, or even your local gas station, the truth is that no single person or entity sets the price of fuel. Instead, a web of factors—ranging from global events to refining costs—shapes what you pay at the pump. Below, we’re breaking down 10 key factors that drive the ups and downs of gas prices.
The gasoline we put in our cars is derived from crude oil. In fact, most of the cost of gas comes from the cost of crude oil itself. Global oil prices fluctuate due to a variety of factors, including supply and demand and geopolitical tensions. When crude oil prices rise, so does the cost of gasoline.
Crude oil must be refined to become gasoline, and the refining process adds its own cost to the pump price. Refinery expenses include the cost of labor, equipment, and compliance with environmental regulations. Seasonal changes also impact costs: Refineries switch to a different fuel blend in the summer to meet air quality standards, often leading to higher prices.
Gas is subject to taxation from the federal government down to the local level, and this added cost is factored into the final price. For instance, state and local taxes vary, so gas prices can differ depending on where you fill up.
Gas must be delivered from petroleum companies to gas stations, so there are associated transportation costs. The farther gas has to travel—whether by plane, train, or automobile—the higher the cost.
Gas is a product and, like any product, has marketing costs. Gas stations and oil companies attract customers with marketing tactics, such as advertising, promotions, and loyalty programs. While these strategies don’t make up the majority of the final price per gallon, they’re still a factor.
While some gas stations are affiliated with oil companies—Shell, Exxon, etc.—many are independent companies that purchase gas from refiners and add their own costs on top before reselling it to consumers.
The amount of available gas is another factor in the price. Natural disasters, refinery shutdowns, or international disruptions can lead to shortages that drive up costs. Conversely, an oversupply of oil or gasoline can cause prices to drop.
When the demand or projected demand for gas puts a significant dent in the supply, the price goes up. For example, summer travel and holiday road trips increase the demand for gas, driving up the cost per gallon.
Foreign policy and geopolitics can cause significant fluctuation in gas prices. For example: Amidst rising tensions between their two nations, President Biden visited major oil producer Saudi Arabia in 2022 to ask the Saudi government to increase oil production and thereby supply. However, the Saudis declined, and gas prices rose.
International calamities such as Russia’s 2022 invasion of Ukraine can result in skyrocketing fuel prices around the globe. In that instance, the U.S. and other countries introduced sanctions including a ban on the importation of oil from Russia—a major oil-producing country—resulting in a supply shortage that drove up prices.
Explore finance, law, risk management, and other key business disciplines through the lens of today’s energy industry. Leveraging our decades-long affiliation with that industry, The University of Texas Permian Basin has developed online graduate programs that prepare you to take on coveted leadership roles or magnify your mastery of your existing role in the field.
Our AACSB-accredited programs include:
Online Master of Business Administration with Certificate in Energy Business
An MBA is a widely respected credential that can make current and future employers take notice. Our online MBA program gives you a broad business foundation through courses covering all key business areas coupled with energy-focused specialty courses.
Online Master of Science in Energy Business
Built on a foundation of financial principles, this is an online master’s degree dedicated to the energy business—one of very few university programs of its kind to be offered in the U.S. You can complete our 30-credit program in as little as four semesters.
Online Graduate Certificate in Energy Business
If you aren’t ready to begin a master’s program, or you’ve already earned a degree but lack the energy expertise you need to achieve your career goals, this standalone graduate certificate program was designed with you in mind.
You may not be able to control the factors that influence the price of gas, but you can steer your energy career in the right direction with the right credentials. Begin your journey today!
Sources:
https://www.kiplinger.com/personal-finance/604688/how-gas-prices-are-determined
https://www.eia.gov/energyexplained/gasoline/factors-affecting-gasoline-prices.php
https://www.eia.gov/energyexplained/gasoline/price-fluctuations.php
https://www.cnbc.com/2022/07/04/high-us-gas-prices-weigh-on-demand-with-impact-on-consumption.html
https://www.cnn.com/2021/06/23/politics/joe-biden-gas-price-fact-check/index.html https://www.theguardian.com/business/2022/jul/18/oil-price-rises-joe-biden-saudi-output-petrol-diesel-prices
https://www.bbc.com/news/business-63855030
https://www.forbes.com/advisor/personal-finance/why-are-gas-prices-rising
https://www.nytimes.com/2022/03/10/business/russia-ukraine-war-gas-prices.html
https://www.afpm.org/newsroom/blog/do-refineries-set-price-gasoline
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“Never take your eyes off the cash flow because it’s the lifeblood of business.” — Sir Richard Branson, famed entrepreneur
Many elements go into making a successful enterprise, but money is without question what keeps a business alive. As such, managing the flow of money—what’s coming in, going out, and moving within—is a critical role in any business organization. Choosing investments; guiding company leadership in making financial decisions; creating, interpreting, and explaining financial reports; ensuring regulatory and legal compliance; and setting financial goals for an organization fall to one very important individual: the financial manager.
If you’re considering pursuing a financial management career—the ongoing objective for which is nicely encapsulated in Sir Richard Branson’s above advice—you’ll want to know what the profession has to offer and how you can get started. Let’s review those now.
“Financial manager” does not refer to a single job. It’s a broad category that encompasses banking, insurance, manufacturing, government, and other fields. A financial manager in any of these sectors may choose from a variety of jobs and perform diverse duties under titles including:
Financial managers have a direct influence on a business’s bottom line, its future viability, and its overall success, making theirs one of the most critical and revered roles within their organizations. Financial managers may also be highly compensated and have many job opportunities to choose from, as we will soon explain.
The U.S. Bureau of Labor Statistics (BLS) has published some very enticing earnings data for anyone looking to become a financial manager or advance within their existing career. The median annual pay for financial managers is $131,710 per year. The BLS also projects employment in the profession will grow by 17%—much faster than the average rate for all professions—between 2021 and 2031. That adds up to roughly 71,300 new financial manager job openings each year in the U.S. alone.
As reported by the BLS, financial managers must have a minimum of a bachelor’s degree and at least five years of work experience in business or finance. In some cases, however, having a graduate degree can also be advantageous. The Association for Financial Professionals (AFP) offers the esteemed professional designation of Certified Treasury Professional (CTP) to some financial professionals who hold a graduate degree and meet specified experience requirements. CTP and other respected certifications and credentials can help elevate a candidate’s resume. Many Chief Financial Officer (CFO) positions require a candidate to be a Certified Public Accountancy (CPA). Generally, a degree in accounting or finance or an MBA is the minimum expectation to pursue the career of financial manager. BLS data also reveals that master’s degree holders in general earn 18% higher median pay and are more likely to be employed than those who hold a bachelor’s degree alone.
The University of Texas Permian Basin offers online undergraduate and graduate degree programs that can help you qualify for or perform better in a financial manager career. Our AACSB-accredited programs include:
Our online degree programs are built on the same robust curriculum taught by the same distinguished faculty who lead the programs in person at our Odessa, Texas campus. Our programs’ asynchronous format enables you to access the virtual classroom 24 hours a day from just about anywhere on earth and work at your own pace! You’ll find these advantages invaluable when simultaneously managing your professional and personal responsibilities and earning your degree.
We welcome the opportunity to answer any questions you may have about our finance-related programs, financial aid, or any other aspect of earning a career-transforming degree online with UT Permian Basin! Reach out today!
As April 15th looms, many of us start to scramble. You know the day: Tax Day—the deadline to prove to the IRS that you paid the right amount of income tax, claim a refund if you overpaid, or begrudgingly send what you still owe.
Before America went digital, it was common for American taxpayers to rush to a post office just before the 11:59 p.m. deadline on April 15th to get their tax returns postmarked and on their way to the IRS. Now, digital returns are more popular than ever. While this process is arguably more convenient, getting income tax forms filled out and filed correctly remains a stressor for many American taxpayers.
Why do Americans go through this ordeal every year, and how did it begin in the first place? Let’s take a brief look at the history of income tax in the U.S. now.
Our country’s approach to income tax and the tax code has changed many times over the years. This timeline highlights some of the major milestones:
The U.S. income tax system was born out of necessity. In 1861, during the Civil War, Congress passed the Revenue Act to generate funds for the Union war effort, marking the first time Americans were taxed directly on their income. Though this early tax was temporary, it laid the groundwork for future legislation.
Tax filing has shifted from a manual, paper-based process to a fast, mostly digital experience. In the early days of income tax, taxpayers filled out paper forms like the now-famous Form 1040 by hand and mailed them to the IRS. Over time, filing requirements and deadlines evolved, with Tax Day eventually landing on April 15.
The rise of digital technology marked a major turning point. Today, , making the process faster and more accessible. E-filing software, digital W-2s, and online tax tools have simplified what was once a paper-heavy and time-consuming task.
Today, most working Americans are required to file a federal income tax return if they earn above a certain threshold, which varies depending on factors like:
Currently single filers under age 65 must file if they earn more than $13,850. Self-employed individuals need to file if they earn over $400. Taxable income can include:
Because tax law is complex and ever-changing, many individuals and businesses turn to accountants to ensure compliance, maximize deductions, and reduce the risk of costly errors, making the role of accounting professionals more important than ever.
Is it your passion to tackle taxes and other financial concerns as a career? Countless busy, frustrated, and confused American taxpayers are anxious to let a professional handle their annual income tax filing and other financial matters on their behalf. The University of Texas Permian Basin offers AACSB-accredited accounting degree programs to match your professional ambitions and education level—all available through an online classroom you can access from anywhere in the world at any time of day. Our programs include:
Online Bachelor of Business Administration in Accounting
Generally, you must earn at least a bachelor’s degree before working as an accountant. UT Permian Basin’s BBA in accounting program is designed to help you build the qualifications for accounting and related professional positions. This degree will equip you to take on accounting roles in governmental, private, public, and non-profit sectors.
If you’ve already completed a bachelor’s degree and want to explore accounting at a more advanced level, you have two program choices:
Online Master of Business Administration With Accounting Track
Develop broader business acumen as you expand your expertise in traditional and modern accounting principles, strategic thinking, and decision-making with our online MBA in accounting.
Online Master of Professional Accountancy
In addition to honing your mastery of historical and current accounting practices and decision-making and strategic thinking skills in a business context, the curriculum of our Master of Professional Accountancy prepares you to sit for the Texas CPA exam.
The U.S. Bureau of Labor Statistics reports that some employers prefer to hire job candidates who have completed an accounting master’s degree!
UTPB’s online accounting degree programs offer a level of convenience that campus-based programs can’t:
Ready to get started? Apply today!
Sources:
https://guides.loc.gov/this-month-in-business-history/april/tax-day
https://www.irs.gov/irs-history-timeline
https://money.cnn.com/2017/12/15/news/economy/gop-tax-plan-details/index.html
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So, you want to work in accounting? With steady job growth fueled by globalization and expanding economies, accounting remains a stable and highly sought-after career path. While demand for this occupation remains high, it also requires a very specific skill set. But how do you know if an accounting degree is worth your precious time…
“Business” is a broad term encompassing marketing, management, accounting, finance, and other functional areas. Each of these areas play a key role in the operation and success of any business, but for this article we’re going to focus on marketing. First, with a definition from a leading marketing organization, and then some clarification of our own.
The American Marketing Association (AMA) defines marketing as:
“ … the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.”
In other words, marketing drives business. It’s what lets the world know a product or service exists. It allows an organization to highlight the benefits of their products, services, or mission and differentiate themselves from the competition. An organization may market to consumers (business-to-consumer, or B2C), to other businesses (business-to-business, or B2B), or both. Let’s review some ways that an organization markets what it has to offer to the world.
As media and technology evolve—and consumers become more marketing-savvy—marketers must adapt and introduce new kinds of marketing to connect with their intended audience. Let’s look at a few of the kinds of marketing that organizations use today, starting with some of the more traditional tactics. It should be noted that a business may use any combination of these to achieve their marketing goals, as no single form of marketing necessarily appeals to or reaches all potential consumers.
The incredible growth of both the internet and social media have given “word-of-mouth” (WOM) marketing a tremendous reach that wasn’t previously possible. Examples include:
Marketing is a rewarding and dynamic field, but it’s also a challenging one. If you’re interested in becoming a marketing professional, you’ll need to gain the credentials that will both help you enter the field and advance within it.
Marketing expertise can prepare you for a rewarding career in a near-limitless variety of fields and private and public companies. As just one example, marketing managers enjoy annual salaries in the six figures. According to the U.S. Bureau of Labor Statistics (BLS), advertising, promotions, and marketing managers earn median annual pay of $133,380. Having an advanced degree can help you compete for high-paying roles such as marketing manager.
If you want to see what an advanced degree can do for your professional potential, consider our online Master of Business Administration with emphasis in marketing. Offered through our AACSB-accredited College of Business, our program helps bachelor’s degree holders build highly marketable leadership and operational skills and knowledge. In as little as four semesters and with 33 credits, you can graduate ready to pursue a variety of coveted marketing positions.
Choose UT Permian Basin for your online MBA with emphasis in marketing and you may be surprised at the accessibility of our program’s cost and convenience. UTPB has some of the most competitive tuition rates of any accredited U.S. university of our stature. Further, our program’s 100% online, asynchronous format enables you to complete your degree on your own schedule from virtually anywhere in the world. Maintain your professional and personal commitments while completing our program.
See what our advanced marketing degree can do for your career prospects. Apply now.
Want to learn more about our other MBA programs? Browse them now.
Sources:
https://www.searchenginejournal.com/inbound-vs-outbound-marketing-whats-best-2017/176422/
https://hireinfluence.com/blog/history-influencer-marketing/
What makes a good manager? Whether you lead one or a hundred employees, the expertise and tone you bring to the workplace determines the success and happiness of your team.
In recent times, leadership roles have changed: The COVID pandemic and the rise of remote work have created unique situations requiring managers to possess more vital soft skills and better staff support than ever before. Mastering these skills can help you develop the successful leadership abilities essential in today’s business world.
Here are eight characteristics that can make a manager more effective in creating a positive and productive workspace.
Managers with high emotional intelligence possess an increased sense of awareness which helps them read the room and identify non-verbal cues. They come across as more personable and can recognize—and address—signs such as burnout and dissatisfaction in their employees.
According to a study conducted by the State of Workplace Empathy, 96% of employees believe that a manager showing empathy is essential, yet 92% believe that this does not get practiced enough. Employees appreciate leaders that acknowledge and celebrate their successes and personal well-being and respect themselves and their team. Supporting your employees and checking in frequently, rather than only when problems arise, can help your team stay on track.
In a study by the Economy Intelligence Unit, poor communication in the workplace was cited as having numerous impacts:
This highlights how critical strong communication is to organizational success. Effective managers don’t just give directions; they create open channels for discussion, offer clarity on expectations, and actively listen. This means setting regular check-ins, responding thoughtfully to questions, and being transparent about both goals and challenges.
The need for excellent communication skills is more urgent than ever. With the rise of remote work since the COVID pandemic, traditional workplace dynamics have changed. According to a 2020 Qualtrics study, 44.4% of surveyed remote workers reported declining mental health. Long hours, isolation, and unclear expectations only make things harder. That said, managers who foster clarity and openness—especially across digital platforms—can boost morale, improve productivity, and build trust within their teams.
Technically proficient leaders who can jump in and advise during all stages of a project are a valuable addition to any team. Keeping up to date on new software related to business, employee engagement, project management, or communication is essential to keeping a team connected. Technologically proficient team leaders can also train or retrain their employees with more confidence.
Although many managers use the GROW model to train new employees, successful coaching skills are not easy to implement. A great coach also knows how to:
Task and time management can make or break the cohesiveness of your company. Leaders should be careful not to micromanage but instead delegate tasks and set clear goals and expectations. Good organization can also:
Taking a company’s vision and translating it into decisive actions and a clear strategy is no small task and crucial for success. Determination, reliability, optimism, and persistence are all qualities of a visionary: a risk-taker who creates tactical plans to get work done.
Creativity breeds innovation. Managers who provide resources and guidance for innovative ideas can help employees feel comfortable enough to think outside the box. Allowing employees to provide ideas and even make some decisions allows those team members to grow. Fun activities or team breaks can also encourage creative thinking and improve company culture.
“Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.” –Paul Hawken, entrepreneur
Being confident and leading by example can help calm employee concerns and create a sense of ambition and purpose. But confidence doesn’t just mean holding your head high. It also involves:
Learn the critical skills needed for effective leadership in any field or corporation, whether as a CEO or team leader. Our online Bachelor of Business Administration in Management can help you build and develop your skills as a manager, make crucial decisions, and strategize effectively in business and personal situations.
Our College of Business is AACB-accredited, and our courses are entirely online and offer the flexibility needed to fit your busy schedule. Students who complete their undergraduate degree in management may also want to further their leadership skills with our Master of Business Administration and complete an additional master’s degree in less than a year.
Ready to become part of the Falcon Family? Apply to UT Permian Basin today.
Sources:
https://www.cultureamp.com/blog/what-makes-a-good-manager
https://www.linkedin.com/pulse/how-you-manager-can-great-coach-your-employees-
https://www.linkedin.com/pulse/5-ways-technology-improves-proficiency-workplace-abhi-golhar
https://www.lifehack.org/844532/time-management-skills-for-managers
https://www.indeed.com/career-advice/career-development/traits-of-visionary-leadership
https://www.indeed.com/hire/c/info/qualities-of-a-good-manager
https://www.liveabout.com/how-managers-can-become-awesome-coaches-2275926
Women hold only 8.2% of CEO positions at large corporations, despite making up half of the population. But don’t let that get you down. Women are making strides in the business world. We have a long way to go until female entrepreneurs are on equal footing with their male counterparts, but there are an increasing…
What makes a good manager? Whether you lead one or a hundred employees, the expertise and tone you bring to the workplace determines the success and happiness of your team. In recent times, leadership roles have changed: The COVID pandemic and the rise of remote work have created unique situations requiring managers to possess more…
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…
In the modern business enterprise, accountants are expected to understand data analytics, forensic accounting, and risk management, among other highly sought-after skills. Artificial intelligence (AI) technologies—like the software used to track financial transactions—can make accountants’ lives easier, but with each passing year, these technologies are taking over an increasing number of accounting tasks from trained individuals.
Accountants are understandably interested in the impact of AI on their profession. We’re here to make the argument that accountants should not only accept but embrace these smart technologies. Are AI and accounting the new chocolate and peanut butter? Let’s find out.
Most people’s understanding of AI comes from science fiction: stories in which, let’s say, a rogue AI declares war on the human race. AI, at least in the world of business, simply refers to technologies that can perform tasks that previously required the personal touch of a human.
AI has assumed many of the repetitive and rudimentary tasks accountants once performed, freeing them to focus on more complex responsibilities like analyzing financial records and meeting face-to-face with managers and stakeholders. Here are several ways that AI has changed accounting. Just don’t expect things to slow down anytime soon: AI is still in its infancy.
Data entry
Accounting software can extract and classify data from images with greater efficiency than any human can achieve. (Can you believe there was a time when every single piece of data had to be keyed in manually?) This is where AI impacts accounting most significantly, permitting trained professionals to save time on mind-numbing tasks. The emergence of big data and cloud computing will, however, increase the need for accountants with expertise in data analysis.
Auditing
As hawkeyed as the average accountant may be, there’s no competing with the speed and accuracy of an AI tool. AI can spot anomalies caused by fraudulent spending or human error, and thanks to big data, this technology can be scaled to audit a business’s every financial statement. As these data sets grow, so too will the challenges accountants face in ensuring their companies remain compliant with laws and regulations.
Forecasting
Machine learning, a type of AI that uses algorithms to adapt and improve over time, enables accountants to analyze and glean insights from historical data. This takes the form of predictive and prescriptive analytics, which identify future outcomes and provide recommendations for achieving business objectives, respectively. Accountants will always be needed to help businesses plan for the future. AI is just making their job a little easier.
We’ve left you hanging long enough. AI will not replace accountants, especially certified public accountants (CPAs), anytime soon. The U.S. Bureau of Labor Statistics (BLS) reports that emerging technologies, including AI, aren’t expected to reduce demand for accountants and auditors, which is expected to grow by 6% over the course of the next decade.
What makes accountants such valued members of any business are their robust skill sets and extensive knowledge of financial planning, risk management, and tax reporting. As startups grow into multinational corporations, accountants can make sense of increasingly complex tax codes and financial records. And we’ve yet to see an AI tool that can build a rapport with clients or explain the results of financial analysis.
Deloitte’s 2022 Global Intelligent Automation survey asked executives to imagine an “ideal organization transformed by automation.” The survey revealed that businesses are moving closer to the ideal, with 46% of respondents planning to implement AI within the next three years. Traditionally, businesses have been slow to embrace disruptive technologies like AI, but those who do are more likely to survive in an increasingly automated world.
The role of accountants is evolving as businesses continue to adopt AI technology. No longer needed to collect and sort through data—leave that to AI—accountants are left to create concise, insightful reports and advise clients on how best to achieve their goals. This shift does, however, mean that accountants will have to further develop their technical and leadership skills and possibly become licensed CPAs. Professionals unable or unwilling to upskill could find themselves outcompeted by both peers and robots.
The University of Texas Permian Basin offers online programs for aspiring professionals as well as those interested in pursuing a terminal accounting degree. They are:
BBA in Accounting
Our online Bachelor of Business Administration (BBA) in Accounting provides the foundational knowledge needed to make it in the world of business. Students receive expert guidance on accounting principles, including the fundamentals of cost accounting, assurance services, and accounting information systems. Graduates are better prepared for careers as accountants, auditors, and financial analysts, among many others.
MBA in Accounting
Our online Master of Business Administration (MBA) with accounting emphasis empowers professionals with the business, interpersonal, and technical skills needed to steer organizations as financial experts. Able to be completed in as little as one year, our program offers students the choice to pursue their CPA licensure or take a broad course of study with our non-CPA track.
Master of Professional Accountancy
Our online Master of Professional Accountancy program provides an in-depth understanding of traditional and contemporary accounting practices. Students can graduate in as little as one year prepared to take the Texas CPA exam and earn their certification. Courses are entirely online and taught by the same business professionals who teach on campus.
All three programs are accredited by the prestigious Association to Advance Collegiate Schools of Business (AACSB International), and their online format allows you to pursue your degree without impacting your personal or professional life. Continue working while future-proofing your career with the help of UT Permian Basin online.
Ready to get started? Apply to one of our online BBA, MBA, or master’s degree in accounting programs to develop your skills in this ever-changing career field.
Sources:
https://www.investopedia.com/terms/a/accounting.asp#toc-history-of-accounting
https://www.forbes.com/sites/forbestechcouncil/2021/03/05/harnessing-the-power-of-artificial-intelligence-in-accounting/?sh=185ed1bb1dae
https://www.accountingtoday.com/opinion/what-ai-does-for-accountants
https://www.becker.com/blog/the-future-of-ai-in-accounting-part-1