Overview
Disciplines use different formatting styles (e.g., MLA, APA, ASA, IEEE, etc.). For instance, graduate students in History might use the Chicago Manual of Style for formatting their written works while graduate students in Electrical Engineering might use IEEE. Psychology graduate students will most likely use APA formatting style while graduate students in the field of Chemistry might use ACS style.
The bottom line is that part of becoming an advanced-level student in your area of study involves becoming comfortable with using the expected formatting styles within your field.
Formatting Styles in Business
In business, formatting styles can vary widely because they are often set by the branding and style guidelines of the organization. Even SJSU has a style guide: Brand Guide | Strategic Communications and Marketing (sjsu.edu).
But in the academic setting for the business disciplines, formatting and style expectations can vary widely and will depend on the instructor. Some professors wish to have their students write their papers in a more traditional academic style and require their students to adhere to either the APA, MLA, or Chicago style guides. Others want to allow students to echo the branding of the organization that they are researching or come up with their own original formatting approach.
It is crucial to work with your instructor directly to understand their expectations when it comes to style and formatting.