# Math = Business?



## LeftEyeDominant (Aug 15, 2015)

I'm planning to take the business path, however, Math hasn't been good to me. I just can't worry about the formulas in finding the area or perimeter of a triangle or a rectangle. Factoring and all that stuff is somehow annoying. I don't see the point in learning all these. Unless of course I know that all the lessons we're learning can be directly used in business, then my mind would probably be more attentive.

This is why I ask. Is being bad at math an implication of a failing business career? If not necessarily, what are the important aspects of math that can be applied to business?


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## UraniaIsis (Nov 26, 2014)

Business is quite a broad term. Are going down more of a managerial or accounting route? 

Most business math consists of arithmetic, algebra, statistics, matrices, and inventory ratios. That's on the accounting end of business anyways. If you're going down a more managerial path in business, you still might need to be familiar with most business math. You need to be able to understand the data provided in financial reports submitted to you and catch inconsistencies. When it comes to approximating and tabulating inventory and creating financial reports, all the aforementioned maths will be needed. 

Being really bad at math is not the best match for business. Although I have found that getting practical hands-on experience with business math applications as a volunteer accountant under someone else's tutelage really improved and supplemented what I practiced from a textbook.


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## Psychophant (Nov 29, 2013)

I'm guessing you need little more than basic algebra knowledge to succeed in most aspects of business, but abstract/quantitative reasons skills will probably benefit you in any career, and a good college math class should improve those.

Anyway, decent math classes will reward intuition and problem-solving skills, not formula memorization, so assuming your problem is lack of interest, you might find math a more rewarding experience in college. This would be good too, since (if your university's program requires an application for admission) they might use intro-level math classes to weed out weaker candidates. I know business is competitive here, and while they don't require particularly advanced math to apply, the competitiveness of your application will certainly depend somewhat on your success in those classes.


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## LeftEyeDominant (Aug 15, 2015)

UraniaIsis said:


> Business is quite a broad term. Are going down more of a managerial or accounting route?
> 
> Most business math consists of arithmetic, algebra, statistics, matrices, and inventory ratios. That's on the accounting end of business anyways. If you're going down a more managerial path in business, you still might need to be familiar with most business math. You need to be able to understand the data provided in financial reports submitted to you and catch inconsistencies. When it comes to approximating and tabulating inventory and creating financial reports, all the aforementioned maths will be needed.
> 
> Being really bad at math is not the best match for business. Although I have found that getting practical hands-on experience with business math applications as a volunteer accountant under someone else's tutelage really improved and supplemented what I practiced from a textbook.


I'm planning to take Business management or administration.


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## angelfish (Feb 17, 2011)

Managerial math is pretty basic, mostly arithmetic. IME you mostly need to have an eye for ensuring that trends are going the direction they should be going and being able to spot abnormalities. "Practical math".


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## tanstaafl28 (Sep 10, 2012)

LeftEyeDominant said:


> I'm planning to take the business path, however, Math hasn't been good to me. I just can't worry about the formulas in finding the area or perimeter of a triangle or a rectangle. Factoring and all that stuff is somehow annoying. I don't see the point in learning all these. Unless of course I know that all the lessons we're learning can be directly used in business, then my mind would probably be more attentive.
> 
> This is why I ask. Is being bad at math an implication of a failing business career? If not necessarily, what are the important aspects of math that can be applied to business?


What sort of business are we speaking of, quantum mechanics? :tongue:

Most business math is pretty standard. Accounting isn't really math at all. Anyway, here's a link to get you started in the right direction. 

Tips to Boost your Business Math Skills (pt. 1)


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## Miharu (Apr 1, 2015)

I see that you are thinking of taking up Business Management. I will be starting my second year of Business Management this month.

I would say the maths in business management is pretty basic. It's not so much the formula, but rather the process. Honestly, marketing can be much more challenging than finances and accounting at times. I also find HR more difficult than Accounting/Finance as you're dealing with people rather than numbers and processes.

It will definitely not be like algebra or calculus where you need to memorise formulas. Look into financial statements such as the balance sheet, income statement, cash flow, etc. It's all about organising, predicting and meeting budgets/expectations depending on your company's goal.

Personally, I think you just need to know _how_ things work. There will not be much elaborate formulas. Off the top of my head I can think of formulas for ratios. Simple stuff such as current ratio = current assets/current liabilities.


EDIT:
If you're worrying about other maths, it would depend on your university, I guess. I study in a foreign (British-curriculum) university that, unlike local universities here, only requires us to take up subjects directly related to our course. This means I don't take extras such as sciences or humanities, etc. Which I wouldn't mind to take, to be honest. I have friends in local universities who have to take theology or something completely unrelated to their courses to fill a requirement - that is not necessary in my uni. So, it depends also where you're studying.


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## vimalahot (May 2, 2014)

maths is a very small part of business management.


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## Toroidal (Apr 14, 2016)

LeftEyeDominant said:


> I just can't worry about the formulas in finding the area or perimeter of a triangle or a rectangle. Factoring and all that stuff is somehow annoying. I don't see the point in learning all these.


These statements worry me. Business degrees involve a lot of memorization of topics you might not enjoy. The memorization skills you use in math are near identical to those in accounting classes for instance.


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## Felipe (Feb 25, 2016)

LeftEyeDominant said:


> I'm planning to take the business path, however, Math hasn't been good to me. I just can't worry about the formulas in finding the area or perimeter of a triangle or a rectangle.


area rectangle: small side (times) big side
perimeter rectangle: side 1 + side 2 + side 3 + side 4

area triangle (with equal sides): (side²√3)/4
perimeter triangle (with equal sides): side 1 + side 2 + side 3

:crazy::crazy::tongue:


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## 1000BugsNightSky (May 8, 2014)

Most of math we use in business tends to rely mostly on +×÷-sqrt, exponents, etc., and equations. That said, they can get pretty complex and messy, but not difficult theoretically.


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## Thomas60 (Aug 7, 2011)

Is a project profitable? then NPV is a +ve number
NPV = Investment - Sum of Discounted (at an interest rate) Cash Flows Received

Is it risky? then a small change in the interest rate greatly affects the outcome, compare other projects.

To manage a process, know your target performance, gather the data

Time to CompleteTrial 11Trial 22Trial 33Trial 42Trial 54.5Trial 61


Are the results slightly worse than the desired result -> Suggestion retraining
Are the results significantly worse than the desired result -> Process Redesign
Is the process on average good, but a few outliers cause disproportionate problems? Policy change / redesign / investigate causes.

blahblahblah
Most managers don't even do that, corporate hires them to be responsible people and follow identified best practices


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## katemess (Oct 21, 2015)

I've been doing Business at uni for three years now, and there has been a decent amount of math. Economics (micro and macro), accounting (two levels), statistics, techniques and elements of finance (the most difficult, IMO), statistical marketing etc. I'm not good at math but I've managed thus far. I never expect more than a pass grade though.

I disagree with the person above who said that it'll be balance type things and not memorising formulas. That is only the case in accounting - all of the other subjects are formula-heavy. I'm sure it depends on where you're studying though (I'm in Australia).


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## drmiller100 (Dec 3, 2011)

I have a BS in theoretical mathematics, and an MBA, and program chair for a small college for Business and Math.

To get through a business degree, you have to do accounting, which is mostly addition, on a computer. 

You need college Algebra cuz. Business math does NPV and other obscure unimportant things which the internet and excel have replaced.

In business, understanding Interest rate is important. Business is HUGE and broad. I have studenbts who are graphics artists who do no math. Others specialize in finance, math is more important.

Sales some math needed to figure out commissions. 

Short answer: not math needed.


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## KattyLu (Dec 1, 2016)

I don't know the math, but I work as an accountant and i have my own business selling cosmetics


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## KattyLu (Dec 1, 2016)

All really


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## Schizoid (Jan 31, 2015)

KattyLu said:


> I don't know the math, but I work as an accountant and i have my own business selling cosmetics



hmm this is interesting. So you're working full-time at the moment and you also have your own business at the side?

I've been thinking of starting my own business too and I want to do it full-time too but I kept worrying about finances issues. My day job is really unfulfilling and I hate how I'm wasting so many hours a week doing things I hardly care about.

Oh and I've just checked, the minimum investment needed to start my own business is 10k. So how much money would you recommend me to save before starting my own business? Would 20k be enough to start my own business?


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## yet another intj (Feb 10, 2013)

An ENTJ is asking that? It's easy... Just hire an accountant and don't forget giving him/her hell in interview.


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