How to Achieve the Best Education in Business Administration
Business administration refers to the management of a business, including the various tasks involved in running it. Business administration involves aspects and principles that are fundamental to organization and governance such as strategic planning and implementation, key issues in human resources (such as staffing), finance (including budgeting, accounting for revenue/expenses), information technology /information systems development etc., all undergirded by frameworks such as marketing research on customer needs or new product design. The difference between the terms “business administration” vs. “Management Science”(MS) is that an MS professional can be seen as more broad-minded than just being focused on specific operations of a company whereas an BA might have experience with multiple functions within their particular industry(s).
The field covers everything from starting up any kind of enterprise – commercially viable or not – through managing its day-to-day activities; all the way to exiting from involvement with it so long there was some value created during one’s time invested into building said business.
Business administration is an umbrella term for a set of management disciplines and theories that deal with the entire business process, including product design or development, production or manufacturing, marketing or sales, finance or accounting, human resources (HR), information technology/information systems development and other aspects of running a business. The study of business administration therefore involves all the fields in which managers are involved: economics, accounting, finance and marketing. Business administration has its roots in the field of commerce. It grew out of the idea that there is a need to understand how to run a good business before one can run any kind of enterprise. It also grew out of the realization that this need was not being met by traditional academic disciplines such as economics and management. The field experienced its first major growth due to industrialization which needed new ways to organize work processes in order to maximize profits from production and distribution so as to drive economic growth.
A masters of business administration is a postgraduate degree in business administration. It is usually given by universities in Singapore, but can also be obtained by distance learning. The degree is equivalent to an MBA or a MSc.
Master of Business Administration (MBA) is a postgraduate academic degree awarded for completion of a program of study that has been approved by the Association to Advance Collegiate Schools of Business (AACSB).
The MBA is one of the most common and widely recognized business degrees, offered by many schools worldwide. The program typically takes three years to complete and requires at least 40 hours per week for one year, with the remaining time spent on class preparation and research.
The first-cycle MBA curriculum includes extensive study in economics, accounting and finance, marketing, operations management and organizational behavior as well as courses in English composition and mathematics. Students are required to show proficiency in these areas before they can enroll.
The second-cycle MBA curriculum consists largely of elective courses that focus on managerial issues such as leadership, strategic decision making and ethics; econometric methods; international business; entrepreneurship; sustainability; operations management; information systems management; supply chain management; global marketing strategies; quality control/management systems/management information systems; and social marketing Read More