Business Administration Management consists of the overseeing and implementation of a company’s departments and resources to maintain success in the business arena. With its ever-advancing technology and its “survival of the fittest” nature, managing a successful business has long been lofty task. In this advanced stage of business administration, it is essential that managers possess and maintain the necessary skills and up-to-date knowledge. But what skills are required to be a valued and sought-after business administration manager? What does the education of a Business Administration Manager consist of? What role do managers play in business administration? What are the responsibilities of a Business Administration Manager?
Business Administration Management is a popular career choice because of its demand in almost every industry. Opportunities in management include – but are not limited to – Government, Banking, Retail, Health Care, Insurance/Investments, Advertising, Loan Administration, and Hospitality. The world of business administration offers students and employees several areas of specialization. The possible options range from Human Resources and Finance, to Marketing, Sales, Information Technology, and Operations.
The skills of management in business administration vary according to the individual industry and department. The Management positions of Business Administration share a common set of required skills including the ability to build and lead teams, knowledge of small business management, comprehension of policy and structure, effective coordination of activities, and an understanding of ethical issues. In addition to these skills requirements, there are additional requirements for those whose management focuses on a specific Business Administration department.
Human Resource Management exists in virtually every industry and is attractive to some because it offers the opportunity to work on a self-employed consultant basis. Human Resource Managers are responsible for the function of the employment aspect of a company including training, assessment and evaluation, recruiting, policy and procedure development, facilitation of effective employee communication and interpersonal conflict-resolution, hiring/terminating, employee grievance resolution, and pensions/benefits/wages. Because Human Resource Managers are responsible for improving employee relations and work performance, they have a direct effect on employee morale. College degrees are more preferred than required in this field.
Financial managers are more challenged in Business Administration because almost all positions require a college degree and experience, in addition to the fact that they are required to stay abreast of the rapidly advancing services offered by financial institutions. This rapid growth of services leads many employers to seek out management with graduate degrees. Financial management education includes credits in Income Portfolio’s, Financial Strategy, Investments, Insurance, and Mergers and Acquisitions. Most Financial Management is found in the Banking and Insurance industries with duties including risk reduction, credit intermediation, direction of bank departments, and customer service. This management option also allows the freedom of working on a consultation basis to small firms.
Sales and Marketing managers are found within almost every industry in Business administration, with some employers preferring a college degree. Internships are recommended since experience is a must. Duties as a Marketing Manager include market research (identifying potential markets, pricing strategies), and promotion of the company’s products and services. Sales Managers are responsible for statistical sales research, advisement of advertising techniques, improvement of sales procedures, and maintenance of inventory requirements.