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Degree Courses - Management

Home -- Services -- Career Guidence -- After 12th -- Degree Courses -- Management

Define Business administration & Business management

Business administration - is the process of managing every aspect of a business in order for it to maintain its growth or stability, depending on the overall goal of the owner or owners. Or we can say Business administrators are the ones in charge of an organization’s bureaucratic and operational activities like finance, personnel, and information systems.

Business Management - is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.

Difference between Business administration and Business management

  • No difference between BA & BM
  • The word "administration" and "management" are somewhat different when defined in a dictionary
  • Managers and administrators are both very essential in the efficient running of the organization. They are the ones who make important decisions for the efficient running and the achievement of the organization’s goals and objectives. They are similar to each other; in fact, they basically have the same functions and responsibilities.
  • If you take both management and administration courses, you will notice that they offer similar subjects. Management programs are available to prepare individuals in the management, organizational planning, and other tasks in a company or organization.

Details

  • Business administration is one of the most sought after careers and it is all about managing business functions such as finance, management, services etc. It can be defined as the process of managing and supervising the business and related operations of a company or organization. Business Administration has become prominent with the rapid growth of industrialisation which made the industries think of a scientific approach towards business. As a result, a large number of business schools have come up rapidly all over the world, and a degree in Business Administration has become the norm. India is one of the major countries which offer good business education.
  • A good business administrator must have studied a variety of subjects in all areas of business like accounting, finance, entrepreneurship, management, marketing, and economics.
  • Master of Business Administration (MBA) is considered as the basic and ideal qualification for taking up a rewarding career in the field of management/Administration.
  • Though there are several bachelor's degree programmes like BBA, BBM etc from where one could get the basics of Business Administration, it is only through MBA course that one can specialize in a particular field of Business Management. Having an MBA goes a long way in getting top management positions in the corporate world.
  • It is the key to the continual success of careers in sectors like manufacturing, business, education, healthcare and other service sectors.
  • It is also important to get an MBA degree from a good Business school as the competition tightens now. There are over 1500 B Schools in the country and students must be very careful while selecting the institute. A good Business school comprises of good study atmosphere, infrastructure, teachers as well as impressive placement records, business associations and industry interaction etc. that will help one to be more productive in his profession.
  • Even though many institutes are offering full time and part time MBA courses, only such courses will be valued that have an approval of All India Council for Technical Education and the institute should be affiliated to a university. One should take all these matters into account while choosing an institute. 

Opportunities/ scope for Business Administration/ Management:

  • Business administration is one of the most sought after careers and it is all about managing business functions such as finance, management, services etc. It can be defined as the process of managing and supervising the business and related operations of a company or organisation.
  • Business Administration has become prominent with the rapid growth of industrialisation which made the industries think of a scientific approach towards business. As a result, a large number of business schools have come up rapidly all over the world, and a degree in Business Administration has become the norm. India is one of the major countries which offer good business education.
  •  With a wide range of specialised fields like Marketing, human resource, operations, finance etc., Business administration is one of the glorious and most paid professions of this era. It is an achievement-oriented profession which has opened limitless opportunity in diverse spheres with the promise of rewards in the form of good remuneration, status and scope.
  • Personal skills such as communication, analytical ability and professional skills like time management and presentation are needed for a bright prospect in this career. Many Indian and foreign institutes are giving professional coaching in this field and the highly paying placements through campus selection is an added attraction.

Careers in Business administration/ Management

Finance and Accounting – Tax account, auditors, information systems, financial advisors, general accountant, cost accountant, public accountant, corporate accounting, Research/forcasting, banking officer, financial planning, real estate broker, insurance, investment banker, financial analyst, actuarial
Marketing and Sales – Marketing manager, advertising manager, distribution manager, producer, marketing analyst, account executive, product manager, graphic designer/artist
Production – Production manager
Management – General Manager, vice president/ president, human resource, office systems, operations manager, project manager, management information system (MIS).

Some special areas for work in business management/ administration

International Management - deals in all areas of international trade and business.
Public System Management – includes of management of public enterprises, non-government organization and cooperatives
Operational Research – by using mathematical analysis for solving financial and production problems
Technology Management – it deals with all aspects of technology, including financing and marking.
Management Consultancy - responsible for identifying and correcting problems concerned company policies, procedures and methods.
Hospital Management - responsible for the efficient running of hospitals and health care organizations.
Hotel Management - concentrates on all aspects of hospitality and hotel administration.
Rural Management - utilizing management practices for managing agro-based and other village industries as also marketing rural products.
Forest Management – it responsible for handling the administration and marketing of forest-related projects and products for forest development
Disaster Management - natural calamities and disasters and is involved with reconstructing and rehabilitating disaster-stricken people and managing relief materials and other resourses.
Leisure & Event Management - management of leisure-related activities, clubs, parks and events.