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What is Business Administration?
Business Administration is a broad field that brings together many ideas, practices and methodologies and applies them to the management and development of business at a managerial level. Individuals in this field are responsible for decisions and planning that guide a given business with the intent to increase revenue and profit while reducing cost. Business administration also deals with the management and motivation of employees and how to introduce efficiency into a given workplace. A minimum of a bachelor's degree is typically required, but due to high competition for positions many individuals will seek a graduate level degree either prior to or during one's career.
Business administration is a course of study which educates students on how to properly operate, grow and maintain a business. A degree in business administration is useful for finding entry level work in large businesses and corporations as well as assisting in starting a business. A master's in business administration (MBA) is usually required to obtain high level jobs. A variety of MBA programs are available based on the scheduling needs or experience of the interested individual. The time frame for completion of a MBA program is based on the type chosen and taking between one and four years of study.
Curriculum for a MBA program may include:
- Technology and Information
- Human Resources
Business degrees at the associate level are typically earned by professionals in a given field seeking to grow their business through the application of standard business practices, accounting methodology, and the proper use of advertising to gain clients. Such programs take between one and two years to complete.
Those who work in the field of business administration will be required to manage people and tasks in order to achieve short and long term goals set forth by the organization and operation heads. Due to the changing nature of business and the large pool of knowledge and information necessary to properly manage operations, businesses will often require a minimum of an MBA to be considered for high level positions. It is important to note that many graduate schools offer MBA programs for individuals currently working as business administrators and are looking to advance.
In addition to an education, a number of skills have proven necessary over time for an individual to be successful in business administration. Many of these skills may be learned or developed over time and through practice, and any individual wishing to forge a career in business administration should work hard to strengthen them. These skills include:
- Innovative Thinking
Job Growth, Salary, and Related Fields
Jobs in business management are expected to grow steadily. The yearly salary of a business manager is highly dependent on education, experience, location and the size of the business he or she works with. The median salary for administration services is approximately $73,000 per year, with the lowest ten percent typically earning $37,000 per year. Those who obtain an MBA should expect to see a large jump in salary.