Someone you know works in “business,” or you’ve heard another someone say they’re headed off to school for “business administration.” It actually sounds impressive, doesn’t it? But what is it?
Business administration is the vital processes that keep companies running. It includes the decision-making that occurs at the very top of the company in the executive offices. It’s also about what happens in every department and office within an organization to make sure that day-to-day operations run smoothly. Here are just some of the components of business administration:
Finance: Any business that expects to stay in business needs to have a good handle on its finances. From the CEO to the company bookkeeper, there needs to be agreement on the importance of maximizing profits and cutting costs. In addition to knowledge about internal activities, if you want to work in business administration, you also need to know about external factors that could affect your company’s bottom line. What’s happening in your industry? Who are your competitors? How is the overall economy doing? Those are the kinds of questions people in finance constantly ask themselves.
Human Resources: Your employees can make or break your company. If you chose a career in HR, you’d want to help hire and train the right people. You might recruit potential employees and then interview applicants about their knowledge, training and experience. Once they’re onboard, you’d make sure they knew all about how your company is run. You’d follow guidelines on the best ways to manage people effectively and keep them satisfied. And you’d be sure to adhere to federal and state regulations about employee safety.
Compliance: Speaking of regulations, if you’re involved in “compliance” that means you need to know the laws that might affect your business. All companies have to treat their employees fairly, but depending on your industry, there may be many other regulations you’d be involved with. For example, if you worked in business administration within the healthcare industry, you’d need to know about the Health Insurance Portability and Accountability Act (HIPAA) that guarantees patient privacy. If you worked in publishing, you’d need to know all about copyright law.
Information Technology: Can you think of a business today that doesn’t use computers? Whether you’re working at a general store on a cash register, or in a law office entering client data onto a server, you need to know about computers. The IT department in any business helps things run accurately and efficiently. The IT staff connects networks, maintains software and hardware, and ensures that proper security measures are in place.
Marketing: Your Company has a great product or service, but how are you going to sell it? Marketing helps you sell and promote what you offer. It can include market research so you know whom you should target with your products, and also the ads you use to get the message out. Will you advertise on television, radio, or the internet? Lots of companies with great products don’t do nearly as well as they could because no one knows about them!
If you’d like a career in business, start with training in business administration. At Career Quest Learning Centers, you could earn your Associate Degree in Business Administration in as little as 15 months. Give us a call in Lansing at 877-481-4930 or Jackson at 877-365-8144 to learn more now.