Meaning of Business Administration

What is Business Administration:

Business administration is a branch of the social sciences whose main objective is to take resources strategically to achieve the short, medium and long-term objectives of a company.

The basic functions of business administration are:

  1. Planning: it is the advance planning of the objectives, programs, policies, procedures and forms of action within a company.
  2. Organization: the functions, authorities and responsibilities among the people of the company are established. The creation of an organization manual serves to put in writing what each person in the company must do.
  3. Direction: it is determined how decisions or orders are given where it must always be taken into account that they are reasonable, complete and clear.
  4. Coordination: generate harmony between officials and operations.
  5. Control: comparison standards must be established in order to measure the results. The control tools in a company can be: accounting, statistics, budget control, auditing, quality control, among others.
  6. Evaluation: the results obtained are verified and corrections in the procedures or executions are proposed.

See also Quality control.

The functions of business administration are also incorporated as the different phases that all strategic planning must pass in order to successfully meet the objectives set.

See also:

  • Management
  • Strategic planning
  • Centralization and decentralization

A business administration professional can work in many areas, for example, such as:

  • Financial manager
  • Logistics analyst
  • Administrative auditor
  • Business planner
  • Business organizer
  • Adviser
  • Consultant
  • Business promoter
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