What Is Business Administration

Managing various aspects of business comes under business administration. Man has been doing business and trade since thousands of years and its procedures and techniques have evolved with the passage of time. In the modern corporate world, business is done in an extremely professional manner, with experts being hired in all departments of an organization. Generally, establishing and maintaining records, procedures, rules and regulations to get the best out of a commercial activity is business administration.

If you are able to administer your business efficiently, you will enhance your chances of increasing the productivity by utilising lesser resources.

Instructions

  • 1

    Business administration education

    Business administration is taught in colleges and universities all across the globe, with countries understanding the importance of young professionals. By completing a bachelors or a masters degree in business administration, a youngster enhances his/her chances of having a solid career and growth opportunities.

  • 2

    Business functions

    Some of the important functions of modern day business include accounting, purchasing, sales, payroll, customer service, human resource, marketing, research and development. Major companies or organizations hire professionals in all departments. For example, an individual, who is an expert in marketing, would never be preferred in the human resource department.

  • 3

    Skills required for business administration

    In order to administer your business properly and to compete with the best companies in the field, the owners or the managers of an organization must have skills of the highest level. If you are not able to lead from the front, your chances of achieving success are going to be quite thin. As a leader of a company, you are the one who is responsible for success or failure of the business; therefore, you have to set the tone from the top and it will naturally have a trickle-down effect on your employees.

  • 4

    Teamwork

    As mentioned above, every department has certain responsibilities in a company. It is necessary for all departments to have a culture of teamwork within. Through effective teamwork and a managerial team, each department can fully contribute to the company.

  • 5

    Coordination

    Coordination between individual departments of a company is also an extremely important part of business administration. If there is any kind of rift or lack of coordination between departments, the company's productivity is going to suffer.

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