Business administration

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Business administration, is the administration of a commercial enterprise. [1] It includes all aspects of overseeing and supervising the business operations of an organization.

Contents

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 and objectives. 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, [2] 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". [3] 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. [4]

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. [5] 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. [6]

Concepts in business management

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. [7]

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. [8]

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. [9]

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

Related Research Articles

Management is the administration of organizations, whether they are a business, a nonprofit organization, or a government body through business administration, nonprofit management, or the political science sub-field of public administration respectively. It is the process of managing the resources of businesses, governments, and other organizations.

<span class="mw-page-title-main">Business school</span> University-level institution teaching business administration

A business school is a higher education institution or professional school that teaches courses leading to degrees in business administration or management. A business school may also be referred to as school of management, management school, school of business administration, college of business, or colloquially b-school or biz school. A business school offers comprehensive education in various disciplines related to the world of business.

A Master of Business Administration is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy. It originated in the United States in the early 20th century when the country industrialized and companies sought scientific management.

A Bachelor of Commerce (BCom) is an undergraduate degree in business, management, economics or accounting, awarded in Canada, Australia, India, Bangladesh, Sri Lanka, Pakistan, Ireland, New Zealand, Ghana, South Africa, Myanmar, Egypt, and additional Commonwealth countries.

The Bachelor of Business Administration (BBA), Bachelor of Science in Business Administration, or Bachelor of Arts in Business Administration is a bachelor's degree in business administration awarded by colleges and universities after completion of four years and typically 120 credits of undergraduate study in the fundamentals of business administration, usually including advanced courses in business analytics, business communication, corporate finance, financial accounting, macroeconomics, management, management accounting, marketing, microeconomics, strategic management, supply chain management, and other key academic subjects associated with the academic discipline of business management.

The Doctor of Business Administration (DBA) or (DrBA) is a terminal degree in business administration. The DBA is classified as a research doctorate or professional doctorate depending on the granting university and country where the degree was awarded. Academically, the DBA is awarded based on advanced study, examinations, project work, and advanced research in the field of business administration.

Business education is a branch of education that involves teaching the skills and operations of the business industry. This field of education occurs at multiple levels, including secondary and higher education

<span class="mw-page-title-main">Emlyon Business School</span> Business school in Lyon, France

Emlyon Business School is a French business school in Lyon, France, established in 1872, and affiliated with the Lyon Chamber of Commerce and Industry. A grande école de commerce, Emlyon Business School offers a wide range of academic programs, including the Global BBA, Masters in Management, M.Sc. in Finance, MBA, and Exec. MBA degrees, alongside Specialized Masters programs, and a Ph.D. program in Management. The school also provides a wide portfolio of Executive Education programs for senior executives & experienced managers.

<span class="mw-page-title-main">Audencia Business School</span> Grande école and business school, Nantes

Audencia Business School is a French grande école and business school located in Nantes, France. It is one of the only 0.5% of business schools in the world accredited by the Association of MBAs (AMBA), European Quality Improvement System (EQUIS), and the Association to Advance Collegiate Schools of Business (AACSB). Audencia is also BSIS labelled. The school enrolls 6,100 students from almost 90 countries on bachelors, international masters, specialised masters, MBAs, doctorates and executive education courses.

<span class="mw-page-title-main">Florida International University College of Business</span> Business school of Florida International University

The Florida International University (FIU) College of Business, located in Miami, Florida in the United States is one of the university's 26 schools and colleges and was founded in 1965. The college is split into two separate schools: the Landon Undergraduate School of Business with over 7,00 students and the Chapman Graduate School of Business with close to 2,200 students, making the College of Business the largest professional college at FIU.

<span class="mw-page-title-main">Business School Lausanne</span> Private business school in Lausanne, Switzerland

Business School Lausanne (BSL) is a private business school located in Lausanne, Switzerland. It is part of the Lemania Group of Swiss Private Schools.

<span class="mw-page-title-main">Paris School of Business</span> Business school in Paris and Rennes

The PSB Paris School of Business is a business school in Paris and Rennes (France) offering BBA, MBA, MSc, MIM, DBA, and executive education courses in English and French. The school is part of Groupe ESG, a network of seven business schools in Paris with a combined alumni of 26,000.

<span class="mw-page-title-main">California International Business University</span> Former private university in San Diego, California, US

California International Business University (CIBU) was a private university in San Diego, California. The university was located in the Little Italy section of downtown San Diego. The university offered a Doctor of Business Administration (DBA), a Master of Business Administration (MBA), a Master of Science in International Management (MSIM), and upper division classes leading to a Bachelor of Science in Management (BS).

UBIS, also known as University of Business Innovation and Sustainability is a private business school founded in 2006 in Geneva, Switzerland. The schools offers programs globally with international campuses in Geneva, Switzerland as well as Barcelona, Spain. UBIS is currently headquartered in Washington DC, United States. The Geneva campus no longer has the name university and is known solely as UBIS.

<span class="mw-page-title-main">Institute of Management Studies, Devi Ahilya University</span>

Institute of Management Studies (IMS) is the University Teaching Department of Devi Ahilya University, Indore specializing in Management Education. It offers various management courses leading to the degrees Master of Business Administration MBA, Bachelor of Business Administration (BBA) and integrated MBA i.e (BBA+MBA) in several disciplines, (BBA+MBA)Hospital administration was started as a branch of management studies in India by this institution and holds the record of providing best of the administrator's in the field also IMS was first Institute of the state to start (BBA+MBA) i.e. Integrated MBA in E-commerce. It offers the following branches for Management:

<span class="mw-page-title-main">Sustainability Management School</span> Swiss business school

Sustainability Management School (SUMAS) is a private business school focused on sustainability and a responsible management education. This training center was founded in 2012 by Ivana Modena with the mission of Inspiring Innovative Leaders.

The Basel School of Business is a private business school in Basel, Switzerland. Founded in 2012, it offers a range of undergraduate and postgraduate programs in Business Administration. BSB is known for its focus on Practical Experiential Learning™ (PEL), an approach that combines theoretical education with hands-on experience to bridge academia and industry.

<span class="mw-page-title-main">NEOMA Business School</span> Business and management school in Paris, France

NEOMA Business School is a French business and management school founded in 2013, following the merger of Reims Management School and Rouen Business School.

References

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