Research on implementing blended learning in higher education has been extensive, but there is limited research on the relationship between students' entry characteristics, learning approaches, and learning effects, particularly in business education. This study was conducted during the COVID-19 pandemic in a blended teaching environment, surveying undergraduate students in Shanghai who were enrolled in business courses in the same semester. The study analyzed the connection between learning approaches and learning effects using the Revised Two-Factor Study Process Questionnaire (R-SPQ-2F) and students’ exam scores. The research findings revealed that students with deep learning approaches achieved higher average scores than those with surface learning approaches. Students' gender, age, academic year, academic background, and whether a course was mandatory or elective were found to have a significant relationship with their learning approaches. Furthermore, students' gender, age and academic year were significantly related to their final exam scores. However, there was no significant difference in the academic performance of students with different learning approaches, and certain exam formats and scopes may not influence quantitative learning effects. Based on these findings, curriculum developers in business education can consider offering general courses to underclassmen to help them gain a comprehensive understanding of their chosen field, encouraging upperclassmen to take cross-disciplinary courses, and urging instructors to utilize blended teaching methods to enhance teaching effectiveness.