3 answers
Yk
Student
Decatur, Georgia
1
Question
Asked
595 views
What is business administration?
I want to know more about business administration
3 answers
Mark Pizarro
Business Coordinator
1
Answer
Rolling Meadows, Illinois
Updated
Mark’s Answer
Business administration is all about keeping a business or organization running smoothly and successfully. It's like being the captain of a ship, steering it in the right direction and making sure everything is in order. This includes taking care of daily tasks like budgeting and scheduling, as well as making big decisions about the future.
Think of it as a juggling act, balancing resources like money and staff, and planning for what's next. Whether it's growing the business, introducing new products, or simply making sure the day-to-day operations are running like a well-oiled machine, business administration is at the heart of it all. The ultimate goal? To help the business thrive and prosper, while keeping everything running smoothly.
Think of it as a juggling act, balancing resources like money and staff, and planning for what's next. Whether it's growing the business, introducing new products, or simply making sure the day-to-day operations are running like a well-oiled machine, business administration is at the heart of it all. The ultimate goal? To help the business thrive and prosper, while keeping everything running smoothly.
Violaine Gonzalez
Senior Associate
176
Answers
New York, New York
Updated
Violaine’s Answer
Greetings! Business administration is the dynamic process of steering and supervising the functions and operations of a business or organization, thereby ensuring its smooth operation and goal attainment. It encompasses a myriad of tasks such as strategizing, organizing, leading, and managing resources (including human, financial, and tangible assets) to fulfill organizational goals.
Here are the pivotal elements of business administration:
1. **Strategic Planning:** This involves crafting long-term goals and objectives for the organization and formulating strategies to accomplish them.
2. **Operations Management:** This ensures the seamless and effective running of daily operations, including resource management, production processes, and quality assurance.
3. **Finance and Accounting:** This involves the prudent management of financial resources, budgeting, financial reporting, and adherence to accounting standards and regulations.
4. **Human Resources Management:** This includes recruiting, hiring, training, and managing staff, as well as dealing with employee relations, performance assessments, and remuneration.
5. **Marketing and Sales:** This involves formulating marketing strategies, pinpointing target markets, promoting products or services, and overseeing sales procedures.
6. **Information Technology:** This involves leveraging technology to bolster business operations, enhance efficiency, and streamline communication and data management.
7. **Risk Management:** This involves identifying potential threats to the organization and devising strategies to curb them, including insurance, safety measures, and contingency planning.
In summary, business administration is instrumental in synchronizing various functions within an organization, thereby ensuring its overall triumph and longevity.
Here are the pivotal elements of business administration:
1. **Strategic Planning:** This involves crafting long-term goals and objectives for the organization and formulating strategies to accomplish them.
2. **Operations Management:** This ensures the seamless and effective running of daily operations, including resource management, production processes, and quality assurance.
3. **Finance and Accounting:** This involves the prudent management of financial resources, budgeting, financial reporting, and adherence to accounting standards and regulations.
4. **Human Resources Management:** This includes recruiting, hiring, training, and managing staff, as well as dealing with employee relations, performance assessments, and remuneration.
5. **Marketing and Sales:** This involves formulating marketing strategies, pinpointing target markets, promoting products or services, and overseeing sales procedures.
6. **Information Technology:** This involves leveraging technology to bolster business operations, enhance efficiency, and streamline communication and data management.
7. **Risk Management:** This involves identifying potential threats to the organization and devising strategies to curb them, including insurance, safety measures, and contingency planning.
In summary, business administration is instrumental in synchronizing various functions within an organization, thereby ensuring its overall triumph and longevity.
Michael Johnson
Management Consultant
3
Answers
San Francisco, California
Updated
Michael’s Answer
Business administration includes the range of topics and skills that are critical to successfully managing a business. This includes areas such as strategy, marketing, finance, organizational and change management, and operations management. An important thing to note about business administration, from a undergraduate/graduate program perspective, is that it is typically agnostic of industry, The skills and knowledge you learn have applicability across different industries and sectors, and the programs typically do not involve extensive content on a particular industry or sector. As such, if you would like to gain industry expertise, you would likely need to pair a degree in business administration with a related degree or certificate program (e.g., many universities offer healthcare management degrees or certificates) and/or internships/externships in the specific industry in which you are interested.
Delete Comment
Flag Comment