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Business administration (also known as business management) is the
administration Administration may refer to: Management of organizations * Management, the act of directing people towards accomplishing a goal ** Administration (government), management in or of government *** Administrative division ** Academic administration ...
of a commercial enterprise. It includes all aspects of overseeing and supervising
business operations Business operations is the ''harvesting'' of value from assets owned by a business. Assets can be either ''tangible property, physical'' or ''intangible asset, intangible''. An example of value derived from a physical asset, like a building, is re ...
. From the point of view of
management Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit, non-profit organization, or a government body. It is the art and science of managing resources. Management includes the activities o ...

management
and
leadership Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization An organization, or organisation (English in the Commonwealth of Nations, Commonwealth English; American and Br ...

leadership
, it also covers fields that include
office An office is a space where an Organization, organization's employees perform Business administration, administrative Work (human activity), work in order to support and realize objects and Goals, plans, action theory, goals of the organizatio ...

office
building administration,
accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compare with other obj ...
,
finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money available which could ...

finance
,
designing A design is a plan or specification for the construction of an object or system or for the implementation of an activity or process, or the result of that plan or specification in the form of a prototype, product or process. The verb ''to design ...
, development,
quality assurance Quality assurance (QA) is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering products or services to customers; which ISO 9000 The ISO 9000 family of quality management systems (QMS) is a set ...

quality assurance
,
data analysis Data analysis is a process of inspecting, cleansing, transforming, and modelling In general, a model is an informative representation of an object, person or system. The term originally denoted the plans of a building in late 16th-century Engl ...
,
sales Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. The seller, or the provider of the goods or services, completes a sale in r ...

sales
,
project management Project management is the process of leading the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development pr ...
, information-technology management,
research and development Research and development (R&D, R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products and improving existing o ...
, and
marketing Marketing is the process of intentionally stimulating demand for and purchases of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of adve ...

marketing
.


Overview

The administration of a business includes the performance or management of
business operations Business operations is the ''harvesting'' of value from assets owned by a business. Assets can be either ''tangible property, physical'' or ''intangible asset, intangible''. An example of value derived from a physical asset, like a building, is re ...
and
decision-making In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the Cognition, cognitive process resulting in the selection of a belief or a course of action among several possible alternative options, it could be ...
, as well as the efficient organization of people and other resources to direct activities towards common
goal A goal is an idea In philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about reason, Metaphysics, existence, Epistemology, knowledge, Ethics, values, Philosophy of mind, mind, and Phil ...

goal
s and objectives. In general, "administration" refers to the broader
management Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit, non-profit organization, or a government body. It is the art and science of managing resources. Management includes the activities o ...

management
function, including the associated
finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money available which could ...

finance
,
personnel Employment is the relationship between two parties Image:'Hip, Hip, Hurrah! Artist Festival at Skagen', by Peder Severin Krøyer (1888) Demisted with DXO PhotoLab Clearview; cropped away black border edge.jpg, 300px, ''Hip, Hip, Hurrah!'' ...
and MIS services. Administration can refer to the
bureaucratic
 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 Henri Fayol (29 July 1841 – 19 November 1925) was a French mining engineer, mining executive, author and director of mines who developed a general theory of business administration that is often called Fayolism Fayolism was a theory of managemen ...
(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. # Controlling Sometimes ''creating output'', which includes all of the processes that generate the product that the business sells, is added as a sixth element. Alternatively, some analyses view management as a subset of administration, Compare: specifically associated with the technical and operational aspects of an organization, and distinct from executive or strategic functions.


Academic degrees


Bachelor of Business Administration

The
Bachelor of Business Administration The Bachelor of Business Administration (BBA) is a bachelor's degree A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges a ...
(BBA, B.B.A., BSBA, B.S.B.A., BS, B.S., or B.Sc.) or
Bachelor of CommerceA Bachelor of Commerce (abbreviated BComm or BCom; also, ''baccalaureates commercii'') is an undergraduate degree in business, usually awarded in Canada, Australia, India, Sri Lanka, Pakistan, Ireland, New Zealand, Ghana, South Africa, Myanmar, Egypt ...
(Bcom. or BComm) is a bachelor's degree in
commerce Commerce is the exchange of goods and services, especially on a large scale. Etymology The English-language word ''commerce'' has been derived from the Latin word ''commercium'', from ''com'' ("together") and ''merx'' ("merchandise"). History ...

commerce
and business administration. The duration of the degree is often three years in Europe or four years in the United States of America. 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 A Master of Business Administration (MBA; also Master's in Business Administration) is a graduate degree Postgraduate education (graduate education in North America North America is a continent entirely within the Northern Hemisph ...
(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.


Doctor of Business Administration

The
Doctor of Business Administration The Doctor of Business Administration (commonly abbreviated as D.B.A., DBA, DrBA, or Dr.B.A) is a research doctorate awarded on the basis of advanced study, examinations, project work and research in business administration. The D.B.A. is a terminal ...
(DBA, D.B.A., DrBA, or Dr.B.A.) 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 ManagementPhD (Doctor Of Philosophy) in management is one of the highest academic degrees awarded in the study of management science Management science (MS) is the broad interdisciplinary study of problem solving and decision making in human organizations, w ...
is the highest academic degree awarded in the study of 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 ManagementThe Doctor of Management (DM) is an applied research doctorate (or professional practice doctorate) with a degree focus in management, leadership, and organizational topics."
(D.M., D.Mgt., or DMan). It is a
doctoral degree The cover of the thesis presented by Claude Bernard to obtain his Doctor of Medicine">Claude_Bernard.html" ;"title="thesis presented by Claude Bernard">thesis presented by Claude Bernard to obtain his Doctor of Medicine degree (1843). A doctora ...
conferred upon an individual who is trained through advanced study and research in the applied science and professional practice of
management Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit, non-profit organization, or a government body. It is the art and science of managing resources. Management includes the activities o ...

management
. This doctorate has elements of both research and practice relative to social and managerial concerns within society and organizations.


See also

* Outline of business administration *
Business economics Business economics is a field in applied economics which uses economic theory Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), ...
*
Business informaticsBusiness informatics (BI) is a discipline combining economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and ...
* Business studies


References

{{DEFAULTSORT:Business administration Management by type