Business administration is the study of process of organizing the business's personnel and resources to meet business goals and objectives. These processes include human resources, as well as operations management, financial management, and marketing management.
Business administration is the administration of a business. It includes all aspects of overseeing and supervising business operations. From the point of view of management and leadership, it also covers fields that include accounting, finance, project management and marketing.
Scope of Business Administration
Business Administration is designed to provide in-depth knowledge of a wide-range of aspects related to business operations.
You could gain an understanding of various aspects of business administration, including:
- Developing strategic plans using marketing information
- Understand the role of information technology systems (IT) in supporting business operations
- Learn how to solve organizational problems using human resources and management principles
- Understand how to use data tools to gather business intelligence. Proceed to use the information to make key operational decisions
- Learn to apply critical thinking concepts
- Develop the ability to apply financial management principles to ensure viability.
Business administration professionals handle a vast array of routine management duties and are responsible for keeping private and public businesses as well as non-profit organizations running smoothly. This covers everything from organizational efficiency, future planning, human resources, accounting, marketing, financing and a potentially endless combination of operational duties and responsibilities.
Importance of Business Administration
Business is part of our day to day lives as humans. It affects every part of our life whether as an employee or business owner. As a business owner, proper administration is key to business survival. As a consumer, proper administration means we get better product or service.
Business Administrators create and execute relevant knowledge about the correct way to use and optimize the resources that are available to operate an organization. The following are why business administration is important:
- It grants effectiveness to human efforts.
- Allows the sustainable growth of organizations.
- Generates relevant information on the correct way to deal with operating resources, especially the human resources that are an indispensable element in any organization and should be taken care of due to their reflection and possible migration to other organizations.
- Measures performance and creates relevant information to make the relevant changes that improve the operation of organizations.
- Reduces operating costs.
Educational Requirements for Business Administration Career
First of all, you'll need at the very minimum, an associate's degree in business which will prime you for entry level positions in the field. Earning a bachelor's will advance your knowledge with skills of organizational leadership, managing people and strategic planning. With a bachelor's under your belt, you'll qualify for a variety of business roles right out of school.
Many people choose to continue their education by earning a Master in Business Administration (MBA), a highly respected advanced degree that indicates a commitment to leading in the field.
Skills and Competencies required for Business Administration Career
Administrative professionals can be found in a variety of business settings, but are employed for office-related tasks. For the most part, they are required to ensure that all clerical work and customer handling is performed to the highest standards of professionalism.
Office administrators will be required to have proven written and oral communication skills.
Filing / paper management.
Office administration staff will also need to show their ability to manage business correspondence. Filing, sorting, and general organisation skills are essential for office administrators.
General office procedures are necessary for administrative staff, but many positions will require administration personnel to be familiar with bookkeeping.
Since ICT is essential for administrative staff in today's era, so too is the ability to type. Many positions don't denote a specific speed, but general opinion believes this to be around 50 words per minute (wpm) with 100% accuracy
Administration workers will need to have special talents in research and data analysis in order to compile reports and harvest research material for other workers within their department.
Customer service skills.
Having excellent customer service and an orientation towards such traits is necessary for success as an administration worker.
Administration personnel rarely have management working directly above them and monitoring their every move. However, any loss of drive or motivation will be immediately visible to them in terms of the quality of the work being received.
Personnel will have to adapt to any needs as they arise.
Administrative employees have to operate a variety of technological tools, example Desktop Publishing, Document Management, Faxing, Internet.
Another important administrative skill is being able to plan and schedule things in advance. This might mean managing someone’s appointments, creating a plan for when employees are sick, or developing office procedural systems.
Problem-solving and critical thinking skills are important for any administrative position. Administrators are often the go-to person that staff and clients seek out for help with questions or problems. They must be able to hear a variety of problems and solve them using critical thinking.
Career Opportunities for Business Administration Graduates
With a bachelor's degree in business administration, you'll qualify for an array of leadership positions and other advanced roles in private, public and nonprofit organizations. You'll have the option to work across industries as a business analyst, human resources generalist, operations manager or marketing specialist. Some business administration graduates also venture into entrepreneurship, creating their own successful businesses from the ground up.
A degree in business administration may open the door to a variety of opportunities and diverse career paths.
A sales manager oversees a company’s sales team and is ultimately responsible for revenue production within an organization.
Financial analysts gather data such as earnings releases, run financial models and make financial recommendations.6 They develop a solid understanding of a particular business, industry or sector, and they deliver presentations that communicate their investment opinions.
Business consultants, also referred to as management consultants, help companies propose ways to improve a business’s efficiency. They advise managers on how to make an organization more profitable through reduced costs and increased revenue.
Human Resources (HR) Specialist
While the primary function of human resources specialists is to recruit, screen, interview and hire employees, most human resources specialists are trained in all HR functions, and therefore they frequently handle other human resources work, such as employee relations, compensation and benefits, and training.
Market Research Analyst
A market research analyst helps a company understand who their customers are, what products they should be selling, and how they can successfully promote those products.
Meeting, Convention and Event Planner
Meeting, convention and event planners coordinate all aspects of events and professional meetings. Typical duties include meeting with clients to understand the purpose of the meeting or event and then arranging locations, transportation and other details.
Loan officers evaluate, authorize or recommend approval of loan applications for people and businesses. Daily responsibilities could include obtaining, verifying and analyzing loan applicants’ financial information, such as credit scores and income levels.
Training and Development Specialist
Training and development specialists focus on improving employees’ skills and knowledge by planning, conducting, and administering training programs
Chief financial officers
Account for a company's financial reporting. They direct the organization's financial goals, objectives, and budgets. They may oversee investments and manage assets.
Chief information officers
Responsible for the overall technological direction of a company, which includes managing information technology and computer systems.
Chief operating officer
Oversee other executives who direct the activities of various departments, such as human resources and sales.
Chief sustainability officers
Address sustainability issues by overseeing a corporate sustainability strategy. For example, they may manage programs or policies relating to environmental issues and ensure the organization's compliance with related regulations.
General and operations managers
Oversee operations that are too diverse to be classified into one area of management or administration. Responsibilities may include formulating policies, managing daily operations, and planning the use of materials and human resources.