Accountants and auditors help to ensure that firms are run efficiently, public records are kept accurately, and taxes are paid properly and on time. The University of Tennessee has one of the leading accounting programs in the nation. The program emphasizes the conceptual and applied understanding of business information and prepares students for careers in accounting and business.
An important application of statistics is business analytics, which is the use of data analysis and modeling to help businesses achieve better performance. The fields of opportunity for business analysts are numerous and include economics, finance, market research, e-commerce, engineering, manufacturing, transportation, education, medicine, psychology, agriculture, and computer and social sciences.
Economics examines trade-offs. It looks at scarcity and the assessment of extra benefits versus extra costs during decision-making. Economics builds an understanding of markets and how a market shock can affect outcomes in many markets. This field also looks at the impact of the aggregate economy on production, consumption, and trade. These are key foundations for decision-making by firms, policy-makers, and members of society. The economics major equips students with the ability to apply the analytics of basic managerial and macroeconomics to ongoing issues in business, policy, and the economy.
Finance is the study and practice of making decisions involving money in a variety of contexts. Finance is studied so that people can allocate their scarce resources over time under conditions of uncertainty. Through the finance major, students will gain an understanding of the principles of financial management, including investment and portfolio management, financial markets and institutions, and financial theory and practice.
Human resource management requires attracting, developing, and maintaining an effective workforce within an organization. Human resource management professionals forecast human resource needs and recruit and select individuals to match job needs. They also develop training programs, performance appraisal procedures, and compensation systems.
Managers motivate and coordinate people in order to achieve organizational goals. Management involves the critical functions of planning, organizing, leading, and controlling. Professional managers think strategically and work with others to lead organizations or departments to successful outcomes.
Marketing in an organization has responsibility for identifying who customers are, what they need and want, and how best to meet those needs/wants by creating and delivering superior value to them. Marketing professionals use strategy tools to target customers, create value propositions and positioning for each target, and deliver and communicate value to these customers through product design, pricing, advertising, personal selling, promotion, and distribution.
Public administration is a joint program sponsored by the Departments of Economics and Political Science. It is designed for students interested in government, namely in the formation of public policy and the practice of public sector management among many other areas of the interface between the public and private sectors.
Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Our internationally recognized supply chain management program is currently regarded as one of the most comprehensive and contemporary programs in the nation. Students develop important skills required of supply chain management professionals to help improve organizational performance.