by Doug Schmitt
BusinessSchools.com Staff Writer
September 27, 2006
Situated on located in southwestern Tennessee on the eastern bank of the Mississippi River, Memphis is the regional hub for the Arkansas/Mississippi/Tennessee tri-state area. Thanks to its centralized location, the Memphis economy has always been strong, centered on commerce and transportation. In addition, the city offers a wealth of recreational activities including performing arts, galleries, casinos, outdoor attractions, and professional sports teams such as the NBA's Memphis Grizzlies http://www.nba.com/grizzlies/. Memphis is also one of the great country music capitols of the world, considered the birthplace of rock ‘n' roll and the home of blues. The metropolitan area has a population of 1.23 million, only to be outshined by Nashville.
Employment and Internships
Having undergone extensive business development, the Memphis economy is strong and diverse. The city is home to many large corporations including two major Fortune 500 companies and 150 other businesses. Memphis employers providing internship and employment opportunities for students include Memphis Light Gas and Water, FedEx Corp., AutoZone Inc., International Paper, First Tennessee Bank, and Morgan Keegan & Company, Inc.
Occupational projections for business and management related jobs look favorable for Memphis through 2014. Financial Managers will see 110 new job openings per year; General Operations Managers will experience 370 new jobs annually; Administrative Services Managers will see approximately 60 new openings yearly; and Marketing Managers will experience 30 additional jobs annually.
Education
Students in Memphis have a variety of choices for pursuing an education in business. The University of Memphis Fogelman College of Business and Economics offers students undergraduate and graduate programs. A sampling of concentrations offered includes Accounting, Banking, Business Economics & Management, Information Systems, Management Science, Marketing, Merchandising/Retail, Real Estate, and Statistics.
Another option is Crichton College of Business, a 4 year private college offering Business administration and featuring an accelerated evening program for working students. Rhodes College offers students graduate and undergraduate degrees in Accounting, Economics, and Business Administration. Additionally, the University of Phoenix – Memphis Campus offers students programs in Criminal Justice Administration, E-Commerce, Health Care Administration, and Human Resource Management.
Financial Aid
In Memphis, business students will find no shortage of financial aid. A readily available, traditional form of financial aid is scholarships. The Community Foundation of Greater Memphis administers a number of scholarships each year. Many of the scholarships are awarded based criteria such as geographic location, financial need, and academic merit and are $1,000 and higher.
Additionally, the Tennessee Student Assistance Corporation (TSAC) offers the HOPE Scholarship Program. Administered by institutions such as the University of Memphis, it is a lottery scholarship for Tennessee residents that require a minimum GPA of 3.0 and are applied for by first filling out a Free Application for Federal Student Aid (FAFSA), which can be found online.
Summary
Memphis presents students with numerous educational resources, a prosperous economy, and ever-multiplying job opportunities. In addition, the vibrant history of the region coupled with the plethora of recreational activities to be enjoyed make Memphis a great place to study business.
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