Business administration is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization.
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 towards common goals. In general, "administration" refers to the broader management function, including the associated finance, personnel and MIS services.
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 an organization's goals. Henri Fayol (1841–1925) described these "functions" of the administrator as "the five elements of administration". According to Fayol, the five functions of management are planning, organizing, commanding, coordinating, and controlling. Without proper business management, a firm cannot utilize its resources properly so, it is the most important term in running a business firm.
Key skills for Business Management
Strategic thinking, leadership, problem-solving, communication, and the ability to work effectively with a diverse range of people and organizations are among the key skills and competencies required of effective managers. Managers must also be able to balance the needs and interests of various stakeholders, such as employees, customers, shareholders, and the larger community. Management is a critical aspect of any successful organization, and it requires a wide range of skills, knowledge, and expertise. Whether managing a small team or a large corporation, effective management is essential to achieving success and driving growth. Another critical aspect is effectively managing and motivating employees. Managers must be able to foster a positive and productive work environment, as well as recognize and reward employees who contribute to the overall success of the organization. This can include providing opportunities for professional development and growth, as well as establishing clear communication channels and ensuring that everyone understands their role and responsibilities.
Concepts in business management
- Corporate culture
- Fail fast
- Kanban
- Sunk cost
Academic degrees
Bachelor of Business Administration
The Bachelor of Business Administration (BBA, B.B.A., BSBA, B.S.B.A., BS, B.S., or B.Sc.), Bachelor of Science in Business, Business Administration, Business Management (BS), or Bachelor of Commerce (Bcom. or BComm) is a bachelor's degree in commerce and business administration. The duration of the degree is four years in the United States and three years in Europe. 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 to succeed in the competitive world. 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
The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration with a significant focus on management. The MBA degree originated in the United States in the early-20th century, when the nation 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.
Master of Management
The Master of Management (MiM) or Master of Science in Management (MSM) is a postgraduate degree with a focus in business management.
In terms of content, it is similar to the Master of Business Administration (MBA) degree as it contains identical management courses but is open to prospective postgraduate candidates at any level in their career unlike MBA programs that have longer course credit requirements and only accept mid-career professionals.
Doctor of Business Administration
The Doctor of Business Administration (DBA or DrBA) is a research doctorate awarded on the basis of advanced study and research in the field of business administration. The D.B.A. is a terminal degree in business administration and is equivalent to the Ph.D. in Business Administration.
PhD in Management
The PhD in Management is the highest academic degree awarded in the study of business management. The degree is intended for those seeking academic research- and teaching-careers as faculty or professors in the study of management at business schools worldwide.
Doctor of Management
A newer form of a management doctorate is the Doctor of Management (D.M., D.Mgt., DBA, or DMan). It is a doctoral degree conferred upon an individual who is trained through advanced study and research in the applied science and professional practice of management. This doctorate has elements of both research and practice relative to social and managerial concerns within society and organizations.
See also
- Bachelor of Business Information Systems
- Outline of business administration
- Business economics
- Business informatics
- Business studies
References
- Compare: Thuis, Peter; Stuive, Rienk (2012). Business Administration. Routledge-Noordhoff International Editions (reprint ed.). Groningen: Routledge (published 2019). ISBN 9781000035889. Retrieved 7 November 2020.
[...] business administration is the branch of science that deals with the organisation of and the context around businesses.
- "Business Administration: Master's of Business Administration" (PDF).
- Farazmand, Ali (2009-06-23). Bureaucracy and Administration. CRC Press. ISBN 978-1-4200-1522-5.
- Golden Pryor, Mildred; Taneja, Sonia (2020-10-18). "Henri Fayol, practitioner and theoretician – revered and reviled". Journal of Management History. 16 (4): 489–503. doi:10.1108/17511341011073960.
- Candoli, I. Carl; Hack, Walter G.; Ray, John R. (1991). "School Business Administration as a Subset of Generic Management". School business administration: a planning approach (4 ed.). Allyn and Bacon. p. 58. ISBN 9780205131396. Retrieved 16 October 2019.
- {"assessing the feasibility of the strategic long range cannon: Unclassified summary" at nap.edu. 2 Today's Operating Environment | Assessing the Feasibility of the Strategic Long Range Cannon: Unclassified Summary |The National Academies Press. (n.d.). Retrieved February 12, 2023, from https://nap.nationalacademies.org/read/26129/chapter/4 |url=https://nap.nationalacademies.org/read/26129/chapter/4#14}}
- Tejas Ramdas, Raffaella Sadun, and Nicholas Bloom (2022). "Visualizing a Century of Management Ideas". Harvard Business Review, September 19 2022.
- "Earning A Business Administration Bachelor's Degree: Admission Requirements, Courses And Careers – Forbes Advisor". www.forbes.com. Retrieved 2024-06-15.
- "BACHELOR OF BUSINESS ADMINISTRATION (B.B.A.)". European International University - Study Anytime, Anywhere. Retrieved 2024-06-15.
- "BBA Degree | 6 Proven Benefits on the Path to Success". 2023-11-23. Retrieved 2024-06-15.
- "What Is a Master of Business Administration (MBA)?". Investopedia. Retrieved 2024-06-15.
- "MBA History | Origins of the MBA Degree". Good MBA. Retrieved 2024-06-15.
- "MBA Explained: Types, Courses & Specializations". www.learningroutes.in. Retrieved 2024-06-15.
- "Andreas Kaplan: A school is "a building that has four walls…with tomorrow inside": Toward the reinvention of the business school". Business Horizons. doi:10.1016/j.bushor.2018.03.010. S2CID 158794290.
- "Andreas Kaplan: A school is "a building that has four walls…with tomorrow inside": Toward the reinvention of the business school". Business Horizons. doi:10.1016/j.bushor.2018.03.010. S2CID 158794290.
- "Structure of U.S. Education". U.S. Department of Education. 2008. Retrieved 15 November 2017.
- "Best MBA, PGDM Colleges in Meerut, Uttar Pradesh | PHD in Management". www.vidya.edu.in. Retrieved 2024-06-15.
- Johnson, Cornell. "PhD in Management Program". Cornell Johnson. Retrieved 2024-06-15.
- "Doctor of Management (DMgt) Masters Degree Course - Cardiff Metropolitan University". www.cardiffmet.ac.uk. Retrieved 2024-06-15.
Business administration is the administration of a commercial enterprise It includes all aspects of overseeing and supervising the business operations of an organization OverviewThe 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 towards common goals In general administration refers to the broader management function including the associated finance personnel and MIS services 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 an organization s goals Henri Fayol 1841 1925 described these functions of the administrator as the five elements of administration According to Fayol the five functions of management are planning organizing commanding coordinating and controlling Without proper business management a firm cannot utilize its resources properly so it is the most important term in running a business firm Key skills for Business Management Strategic thinking leadership problem solving communication and the ability to work effectively with a diverse range of people and organizations are among the key skills and competencies required of effective managers Managers must also be able to balance the needs and interests of various stakeholders such as employees customers shareholders and the larger community Management is a critical aspect of any successful organization and it requires a wide range of skills knowledge and expertise Whether managing a small team or a large corporation effective management is essential to achieving success and driving growth Another critical aspect is effectively managing and motivating employees Managers must be able to foster a positive and productive work environment as well as recognize and reward employees who contribute to the overall success of the organization This can include providing opportunities for professional development and growth as well as establishing clear communication channels and ensuring that everyone understands their role and responsibilities Concepts in business management Corporate culture Fail fast Kanban Sunk costAcademic degreesBachelor of Business Administration The Bachelor of Business Administration BBA B B A BSBA B S B A BS B S or B Sc Bachelor of Science in Business Business Administration Business Management BS or Bachelor of Commerce Bcom or BComm is a bachelor s degree in commerce and business administration The duration of the degree is four years in the United States and three years in Europe 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 to succeed in the competitive world 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 The Master of Business Administration MBA or M B A is a master s degree in business administration with a significant focus on management The MBA degree originated in the United States in the early 20th century when the nation 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 Master of Management The Master of Management MiM or Master of Science in Management MSM is a postgraduate degree with a focus in business management In terms of content it is similar to the Master of Business Administration MBA degree as it contains identical management courses but is open to prospective postgraduate candidates at any level in their career unlike MBA programs that have longer course credit requirements and only accept mid career professionals Doctor of Business Administration The Doctor of Business Administration DBA or DrBA is a research doctorate awarded on the basis of advanced study and research in the field of business administration The D B A is a terminal degree in business administration and is equivalent to the Ph D in Business Administration PhD in Management The PhD in Management is the highest academic degree awarded in the study of business management The degree is intended for those seeking academic research and teaching careers as faculty or professors in the study of management at business schools worldwide Doctor of Management A newer form of a management doctorate is the Doctor of Management D M D Mgt DBA or DMan It is a doctoral degree conferred upon an individual who is trained through advanced study and research in the applied science and professional practice of management This doctorate has elements of both research and practice relative to social and managerial concerns within society and organizations See alsoBachelor of Business Information Systems Outline of business administration Business economics Business informatics Business studiesReferencesCompare Thuis Peter Stuive Rienk 2012 Business Administration Routledge Noordhoff International Editions reprint ed Groningen Routledge published 2019 ISBN 9781000035889 Retrieved 7 November 2020 business administration is the branch of science that deals with the organisation of and the context around businesses Business Administration Master s of Business Administration PDF Farazmand Ali 2009 06 23 Bureaucracy and Administration CRC Press ISBN 978 1 4200 1522 5 Golden Pryor Mildred Taneja Sonia 2020 10 18 Henri Fayol practitioner and theoretician revered and reviled Journal of Management History 16 4 489 503 doi 10 1108 17511341011073960 Candoli I Carl Hack Walter G Ray John R 1991 School Business Administration as a Subset of Generic Management School business administration a planning approach 4 ed Allyn and Bacon p 58 ISBN 9780205131396 Retrieved 16 October 2019 assessing the feasibility of the strategic long range cannon Unclassified summary at nap edu 2 Today s Operating Environment Assessing the Feasibility of the Strategic Long Range Cannon Unclassified Summary The National Academies Press n d Retrieved February 12 2023 from https nap nationalacademies org read 26129 chapter 4 url https nap nationalacademies org read 26129 chapter 4 14 Tejas Ramdas Raffaella Sadun and Nicholas Bloom 2022 Visualizing a Century of Management Ideas Harvard Business Review September 19 2022 Earning A Business Administration Bachelor s Degree Admission Requirements Courses And Careers Forbes Advisor www forbes com Retrieved 2024 06 15 BACHELOR OF BUSINESS ADMINISTRATION B B A European International University Study Anytime Anywhere Retrieved 2024 06 15 BBA Degree 6 Proven Benefits on the Path to Success 2023 11 23 Retrieved 2024 06 15 What Is a Master of Business Administration MBA Investopedia Retrieved 2024 06 15 MBA History Origins of the MBA Degree Good MBA Retrieved 2024 06 15 MBA Explained Types Courses amp Specializations www learningroutes in Retrieved 2024 06 15 Andreas Kaplan A school is a building that has four walls with tomorrow inside Toward the reinvention of the business school Business Horizons doi 10 1016 j bushor 2018 03 010 S2CID 158794290 Andreas Kaplan A school is a building that has four walls with tomorrow inside Toward the reinvention of the business school Business Horizons doi 10 1016 j bushor 2018 03 010 S2CID 158794290 Structure of U S Education U S Department of Education 2008 Retrieved 15 November 2017 Best MBA PGDM Colleges in Meerut Uttar Pradesh PHD in Management www vidya edu in Retrieved 2024 06 15 Johnson Cornell PhD in Management Program Cornell Johnson Retrieved 2024 06 15 Doctor of Management DMgt Masters Degree Course Cardiff Metropolitan University www cardiffmet ac uk Retrieved 2024 06 15 Wikiquote has quotations related to Business administration
