Facts About Business Administration

In order for any organization to succeed, it needs to be well organized and have a management team willing to take risks and make strives to the goal of the organization. Businesses know this as administration. Business administration involves the people who manage a company and the various processes involved with running it. Many people who aspire to work in the upper echelons of major companies--or even to starts their own small businesses--often major in business administration so that they are prepared to tackle the sometimes difficult task of managing a company.

Hierarchy

The hierarchy of business administration represents a pyramid with a board of directors at the top, managers underneath, even more assistant managers under those, and a wide base of general employees.

Staffing

Creating job descriptions is one of the more important tasks involved in business administration. One makes sure that the needs of the company are met by the work done by the employees.

Direction

Some of the job titles given to those working in business administration are directors, administrators or managers; these people go by many names. They are responsible for directing staff members and their own departments in order to meet the goals of the company. That's a general function of business administration.

Planning

Before any moves are made--and even before a business is born--careful planning needs to be done to determine how the business will be set up, operated, and where it is heading. This is arguably the most important process in business administration.

Budgeting

Business administration deals with budgeting in order to manage spending of various departments and to make sure company funds are not overspent.