Business administration

Business administration
Management of a business
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Business administration is management of a business. It includes all aspects of overseeing and supervising business operations.

Overview

The administration of a business includes the performance or management of business operations and decision making, as well as the efficient organization of people and other resources, to direct activities toward common goals and objectives.

In general, administration refers to the broader management function, including the associated finance, personnel and MIS services.

In some analysis, management is viewed as a subset of administration, specifically associated with the technical and operational aspects of an organization, distinct from executive or strategic functions. Alternatively, administration can refer to the bureaucratic or operational performance of routine office tasks, usually internally oriented and reactive rather than proactive. Administrators, broadly speaking, engage in a common set of functions to meet the organization's goals. These "functions" of the administrator were described by Henri Fayol as "the five elements of administration". Sometimes creating output, which includes all of the processes that create the product that the business sells, is added as a sixth element. A business administrator oversees a business and its operations. The job is to ensure that the business meets its goals and is properly organized and managed. The tasks a person in this position has are both wide and varied, and often include ensuring that the right staff members are hired and properly trained, making plans for the business' success, and monitoring daily operations. When organizational changes are necessary, a person in this position usually leads the way as well. In some cases, the person who starts or owns the business serves as its administrator, but this is not always the case, as sometimes a company hires an individual for the job. When a person has the title of business administrator, they are essentially the manager of the company and its other managers. The person oversees those in managerial positions to ensure that they follow company policies and work toward the company's goals in the most efficient manner. For example, they may work with the managers of the human resources, production, finance, accounting, and marketing departments to ensure that they function properly and are working inline with the company's goals and objectives. Additionally, they might interact with people outside the company, such as business partners and vendors.

Academic degrees

Bachelor of Business Administration

Main article: Bachelor of Business Administration

The Bachelor of Business Administration (BBA or B.B.A.) is a bachelor's degree in commerce and business administration. The degree is designed to give a broad knowledge of the functional aspects of a company and their interconnection, while also allowing for specialization in a particular area. The degree also develops the student's practical, managerial and communication skills, and business decision-making capability. Many programs incorporate training and practical experience, in the form of case projects, presentations, internships, industrial visits, and interaction with experts from industry.

Master of Business Administration

Main article: Master of Business Administration

The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.

The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights and/or weekends), and distance learning students, many with concentrations.

PhD in management

Main article: PhD in management

PhD in management is the highest academic degree awarded in the study of management science. The degree was designed for those seeking academic research and teaching careers as faculty or professors in the study of management at business schools worldwide.

References

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