Editing Business administration

{{Short description|Administration of a commercial enterprise}}
{{for|the legal procedure similar to bankruptcy|Administration (law)}}
{{Business administration}}
'''Business administration''' is the [[management|administration]] of a [[commerce|commercial]] [[business|enterprise]].<ref>
Compare:
{{cite book
 | last1 = Thu
 | first1 = Peter
 | last2 = Stuive
 | first2 = Rienk
 | year = 2012
 | title = Business Administration
 | url = https://books.google.com/books?id=E_vADwAAQBAJ
 | series = Routledge-Noordhoff International Editions
 | edition = reprint
 | location = Groningen
 | publisher = Routledge
 | publication-date = 2019
 | isbn = 9781000035889
 | access-date = 7 November 2020
 | quote = [...] business administration is the branch of science that deals with the organisation of and the context around businesses.
}}
</ref> 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 [[goal]]s. In general, "administration" refers to the broader [[management]] function, including the associated [[finance]], [[Employment|personnel]] and [[management information systems|MIS]] services.<ref>{{Cite web |title=Business Administration: Master's of Business Administration |url=https://www.christendom.edu/wp-content/uploads/2016/01/christendom_business.pdf}}</ref>

Administration can refer to the [[bureaucracy|bureaucratic]] or operational performance of routine [[office]] tasks,<ref>{{Cite book|last=Farazmand|first=Ali|url=https://books.google.com/books?id=N3D4DpKDZq0C&q=Administration+can+refer+to+the+bureaucratic+or+operational+performance+of+routine+office+tasks&pg=PA241|title=Bureaucracy and Administration|date=2009-06-23|publisher=CRC Press|isbn=978-1-4200-1522-5|language=en}}</ref> 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 "[[fayolism#Fayol's Elements (or functions) of Management|the five elements of administration]]".<ref>{{Cite journal|date=2020-10-18|title=Henri Fayol, practitioner and theoretician – revered and reviled|url=https://doi.org/10.1108/17511341011073960|journal=Journal of Management History|doi=10.1108/17511341011073960|last1=Golden Pryor|first1=Mildred|last2=Taneja|first2=Sonia|volume=16|issue=4|pages=489–503|url-access=subscription}}</ref> 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.<ref>
{{cite book
 | last1 = Candoli
 | first1 = I. Carl
 | last2 = Hack
 | first2 = Walter G.
 | last3 = Ray
 | first3 = John R.
 | chapter = School Business Administration as a Subset of Generic Management
 | title = School business administration: a planning approach
 | url = https://books.google.com/books?id=Js2dAAAAMAAJ
 | edition = 4
 | publisher = Allyn and Bacon
 | date = 1991
 | page = 58
 | isbn = 9780205131396
 | access-date = 16 October 2019
}}</ref>
=== 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.<ref>{"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}}</ref> 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.<ref> Tejas Ramdas, Raffaella Sadun, and Nicholas Bloom (2022). [https://hbr.org/2022/09/visualizing-a-century-of-management-ideas?ab=seriesnav-bigidea|url=https://hbr.org/2022/09/visualizing-a-century-of-management-ideas?ab=seriesnav-bigidea&registration=success "Visualizing a Century of Management Ideas".] [[Harvard Business Review]], September 19 2022.</ref>

=== Concepts in business management ===

* [[Organizational culture|Corporate culture]]
* [[Fail fast (business)|Fail fast]]
* [[Kanban]]
* [[Sunk cost]]

== Academic degrees ==

=== Bachelor of Business Administration ===
{{Main|Bachelor of Business Administration|Bachelor of Commerce}}

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<ref>{{Cite web |title=Earning A Business Administration Bachelor's Degree: Admission Requirements, Courses And Careers – Forbes Advisor |url=https://www.forbes.com/advisor/education/business-and-marketing/bachelors-in-business-administration/ |access-date=2024-06-15 |website=www.forbes.com}}</ref> in the United States and three years<ref>{{Cite web |title=BACHELOR OF BUSINESS ADMINISTRATION (B.B.A.) |url=https://eiu.ac/bba-programmes/ |access-date=2024-06-15 |website=European International University - Study Anytime, Anywhere. |language=en-US}}</ref> 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.<ref>{{Cite web |date=2023-11-23 |title=BBA Degree {{!}} 6 Proven Benefits on the Path to Success |url=https://tau.edu.zm/blog/path-to-success-6-proven-benefits-of-a-bba-degree/ |access-date=2024-06-15 |language=en-US}}</ref> 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 ===
{{Main|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.<ref>{{Cite web |title=What Is a Master of Business Administration (MBA)? |url=https://www.investopedia.com/terms/m/mba.asp |access-date=2024-06-15 |website=Investopedia |language=en}}</ref> The MBA degree originated in the United States in the early-20th century,<ref>{{Cite web |title=MBA History {{!}} Origins of the MBA Degree |url=https://good.mba/mba-history-origins-of-the-mba-degree/ |access-date=2024-06-15 |website=Good MBA |language=en-US}}</ref> 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.<ref>{{Cite web |title=MBA Explained: Types, Courses & Specializations |url=https://www.learningroutes.in/blog/mba-master-of-business-administration-guide |access-date=2024-06-15 |website=www.learningroutes.in |language=en}}</ref> Most programs also include elective courses.

=== Master of Management ===
{{Main|Master of Management|Master of Science in Management}}

The [[Master of Management]] (MiM) or [[Master of Science in Management]] (MSM) is a postgraduate degree with a focus in [[business management]].<ref>{{Cite journal |title=Andreas Kaplan: A school is "a building that has four walls…with tomorrow inside": Toward the reinvention of the business school |journal=Business Horizons |doi=10.1016/j.bushor.2018.03.010|s2cid=158794290 }}</ref>

In terms of content, it is similar to the [[Master of Business Administration|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.<ref>{{Cite journal |title=Andreas Kaplan: A school is "a building that has four walls…with tomorrow inside": Toward the reinvention of the business school |journal=Business Horizons |doi=10.1016/j.bushor.2018.03.010|s2cid=158794290 }}</ref>

=== Doctor of Business Administration ===
{{Main|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.<ref>{{cite web|url=https://www2.ed.gov/about/offices/list/ous/international/usnei/us/edlite-structure-us.html|title=Structure of U.S. Education|publisher=U.S. Department of Education|date=2008|accessdate=15 November 2017}}</ref>

=== PhD in Management ===
{{Main|PhD in Management}}

The [[PhD in Management]] is the highest academic degree awarded in the study of business management.<ref>{{Cite web |title=Best MBA, PGDM Colleges in Meerut, Uttar Pradesh {{!}} PHD in Management |url=https://www.vidya.edu.in/ |access-date=2024-06-15 |website=www.vidya.edu.in |language=en}}</ref> 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.<ref>{{Cite web |last=Johnson |first=Cornell |title=PhD in Management Program |url=https://www.johnson.cornell.edu/programs/phd-program/ |access-date=2024-06-15 |website=Cornell Johnson |language=en-US}}</ref>

=== Doctor of Management ===
{{Main|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]].<ref>{{Cite web |title=Doctor of Management (DMgt) Masters Degree Course - Cardiff Metropolitan University |url=https://www.cardiffmet.ac.uk/management/courses/Pages/Doctor-of-Management-DMan.aspx |access-date=2024-06-15 |website=www.cardiffmet.ac.uk |language=en}}</ref> 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==
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{{Wikiquote}}
{{Management}}
{{Authority control}}

[[Category:Business management|&nbsp;]]