Business plays an integral part in the development and economy of any country. Businesses are responsible for proving the jobs, goods and services need by the people in a country, hence the need for more businesses in any nation. Businesses are conducted in various ways, some may be in a sole proprietorship, limited liability, or even as a joint venture. For businesses to grow and expand very well, there is a need to have people managing the affairs of the business. How the profits are made, give financial advice, oversee the day to day use of funds, and also to bring in more investments.
The need for business administrators have always been in demand and its need has become so much because more people are venturing into owning a business and need people to help them manage it’s affairs well and as well make profits too. Business administrators also get their degrees now to help themselves become efficient business owners not just to work for somebody. Therefore the increase in demand is overwhelming each year. Businesses need to survive and as such are in dire need of these professionals. Business administrators are employed to oversee the financial aspects of a business, to help it grow financially with debts and other financial crises but for the sole aim of making profits all year round.
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What is Business Administration?
Business administration or business management is a career field that focuses on the planning, analyzing, management, and organizing of various business activities and financial needs of an organization. Business administration is a very versatile field and obtaining a degree in business administration can be used on a professional level that is, as an employee or for independent and personal purposes that is, operating your own business too.
Business administrators do a lot of work and that is why they are perceived to been paid well. Their job descriptions vary from always been in charge of the day to day financial activities of the organization or business they work with, manage all financial operations, also dealing with the general activities of the business in providing goods and services, they also negotiate and approve business contracts which would be beneficial to the organization. The list of the job description of a business administrator goes on and on but in all, they are seen as the financial backbone of any business or organization that is ready to make profits or need someone to manage its financial affairs.
Business administration is a broad field that covers other fields such as accounting, finance, marketing, and managerial studies. Business administrators get to have different job roles and as a result, their job description differs in regard to the organization or different business establishment they work with.
10 Reasons to Study Business Administration
- Lots of job opportunities: in business administration, there are lots of jobs and careers which you can get. Some of which are accounting, marketing, human resources, sales manager, and others. Every organization where the money is been spent requires the services of these business administration professionals to help manage its affairs and finances. It is safe to say a business administrator can get more jobs and may not stay for so long in the job market before getting a good job.
- Team player: one of the good skills you need to operate as a good business administrator is to be a good team player. As a business administrator, you would learn to work as a team and acquire the ability to carry people along in any given project or situation, because most of the time you would work closely with other people. A business administrator must also have good communication skills to be able to interact with fellow professionals, deal with customers, make presentations, and also represent your workplace whenever necessary.
- High salary: it is safe to say, business administrators are well paid, coupled with the fact that their job description is a whole lot. Getting a job as a business administrator in any firm, establishment, business or organization would definitely help you earn more. These professionals are always sought after and in high demand by employers of labor and as such are well paid for their services.
- Networking: a business administrator must have great networking skills. It’s a skill that practically comes with the business administration field. This networking skill is a great skill that helps a business administrator to meet with new people, engage with them and make a good impact for the goal of getting business partners, investors and customers too for the business he or she represents. A good networker must be able to interact freely with people of every kind and must be ready to listen to suggestions and not just always give advice or talk about the business often.
- It helps you improve your leadership skills: not everyone has what it takes to be a leader or be a people’s man but studying business administration gives you an edge in this path. A business administrator is able to be a great team player because they are taught good networking skills that come to play here. It helps you develop and improve your leadership skills which must be well sharpened and put to use when the need is required.
- Broaden your horizon: not everyone wants to be an office person or an employee but studying business administration does not limit you to office space, you have the opportunity to use your business administration degree for other personal purposes. As a business owner with a degree in business administration, you can incorporate what you have learned and apply it to your business to grow more. Some of these things you can incorporate into your business can be; writing a business plan, managing your business, and creating a viable business plan for loan purposes for your investors.
- Helps you to be practical: obtaining a degree in business administration helps you to get all the real-time practical skills you need to work and these skills are what is in great demand by employers of labor. In exhibiting these skill sets, it would definitely put you in the great view of employers and recruiters in search.
- It distinguishes you from the others: getting a degree in business administration distinguishes in the labor market. Since it is a practical field and that is what employers are looking out for, you, therefore, stand a greater chance to get a job.
- Career growth: in business administration, you are sure to experience career growth when working with an organization. When you are noticed to work with a great sense of duty and know how to do your job well, you will definitely grow in your field. You can also study more to obtain more degrees in the same business administration field to broaden your horizon and set up good career paths.
- You will be able to understand the market operations: as a business administrator, you will always work with the market and learn how it operates. You will be able to use money wisely and know what to spend money on and what is said to be wasteful or not. Overall, you will value money and know-how to make good use of funds if you are ever given a chance to manage it.
What Can I Do With A Business Administration Degree
As a graduate of business administration, there are various career paths that can be obtained in this field, some of these career paths are always in high demand by employers. You can work in a private, public ND even non-profit organizations too. Below are outlined some of these careers which may give you an insight into what to use your degree for at the end of your study.
- Business consultants: or sometimes known as business management consultants are professionals who help people and organizations make good business decisions. They help to propose ways which would help a company make more profits and be more efficient in their field.
- Sales manager: a business administrator can also work as a sales manager who helps businesses promote their company products for-profit purposes. As a sales manager, you are in charge of the overall company revenue, production, and finance too. In fact, without you, the company may not be able to make adequate sales.
- Financial analyst: this set of professionals help a company or business to understand their investment options and analyze ways on how to make more profits. These financial analysts are like the profit-making brain of any company or business that wants to make profits.
- Human resources specialist: the primary job of these sets of professionals is to recruit job seekers, interview them, and also give them all the necessary tools to work in an organization. A human resources specialist is needed is every organization that wants to employ workers. These professionals are also in charge of payrolls, employee relations, and other administrative benefits of employees.
- Loan officers: these professionals are in charge of approving loans for both individuals and organizations. They also assist in verifying loan applications and analyzing the financial status of loan applicants before approving the loans.
- Market research analyst: a market research analyst helps the company to get through to its customers, understand what they want how also how to meet their demands at all times. These market research analysts are at the forefront of the business and they do their jobs by creating surveys or questionnaires to understand market trends and how to bring satisfaction to the customers.
- General operations manager: these are in charge of all the operations involving the management and administrative aspects of the business. The job description involves, formulating policies, planning and managing the day to day activities, and use of both human and material resources of the business. All accounts are given to the general operations manager for each day’s production or sale.
- Financial officer: this is in charge of the management of business assets and investments. They are in charge of the business’s financial goals, budgets, and every other financial involvement. They oversee the financial pocket of the business and no fund is used without the full knowledge and advice of the financial officer.
- Auditor: a business administrator can function as an auditor to checkmate the finances of any particular business or organization. These auditors are like financial police which points out financial mistakes of ant organization and makes sure they are corrected and to make sure the errors are well avoided in the future. You can work as an internal auditor, that is someone who works with the company and may be called upon sometimes to come to cross-check how the company’s finances are been used and you can also work as an external auditor that is, a person appointed by an external body to come to checkmate the company’s finance. This is always done in the case of financial misappropriation or company fraud.
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Who are the Employers of Business Administration Degree Holders?
Business administration degree holders and professionals are necessary and I demand in every establishment whose aim is to make profits. These professionals can work on various roles depending on the part in which their services are required. Here are listed out some but not limited to the establishments, organizations, and businesses where the role of a business administrator is required.
- Financial institutions such as; banks, loan lending institutions, and so on.
- Health care companies; hospitals, pharmaceutical companies
- Industries; factories, production companies
- Sales organizations
- Educational institutions
- Real estate organizations
- Auditing companies
- Private and government agencies
- Other businesses, either a sole proprietorship or joint ownership, limited liability
- Trade organizations
- Insurance companies
- Transport businesses; airlines and other road transportation
- Distribution centers
- Manufacturing firms and other businesses where a business administrator is required.
What are the Necessary Skills Required For a Business Administrator
A lot of skills are required and also necessary for one to be a certified business administrator, these skills will help you to do your job properly at all times. Also, as a student, who wants to obtain a degree in business administration or management field, you need to acquire some of these skillsets or learn it to the best of your capacity before graduation. They are the weapons needed by a business administrator to do a good job.
- You must be a team player and also have good leadership qualities. This is a very important skill for any business administration professional and if you want to work as a business administrator in any business or organization.
- You must have a liking to the profession before you can venture into it. If you want to be a business administrator, you have to study it with your whole heart and must be ready to make the needed sacrifices in obtaining the degree.
- You must have good communication skills. As a business administrator, you must be outspoken and not timid. You must be ready to help your organization or business out in financial situations or crises all time. Any professional or any field needs this communication skill to be able to stand out and be the great face of an organization.
- You must possess great marketing and networking skills. Networking helps you to get new customers for your business or organization and as a business administrator, you must always be ready to promote your business at any given opportunity, you must learn to be approachable to other people.
- You must have great interpersonal skills which would be needed as you work in any establishment or organization you should also know how to make good use of the various marketing skills to your advantage whenever the need arises. Great marketing skills are a business administrator’s pride that must be harnessed and made use of properly.
- You must be a good problem solver and always pay attention to details. As a business administrator, you must learn how to identify problems, create solutions, and also solve make sure to avoid those problems in the future.
- You must understand customer wants, in fact, a good business administrator must always be able to satisfy its customers. Learn to identify their wants and make sure to give them what they want to the good of your business or organization. If need be that you can’t get what is been requested, you should be able to create other means of satisfaction for your customers.
Benefits of Studying Business Administration
If you are searching for reasons why you must take a chance in studying business administration, below are outlined some of the benefits you would enjoy by obtaining a business administration degree.
- You become employable: students who obtain a degree in business administration are said to have great administration skills which are transferable and these put them at the forefront of employers. As a business administer, you can get a job as a marketing executive, human resources, finance, manager, and so on.
- You would be able to develop your management skills: studying business administration helps you to sharpen and develop your management skills which are required by business employers. Some of the management skills you would learn are; problem-solving, communication, organizing, strategic thinking, leadership, project management, and others. You will definitely build your skillset which will help you to as a valuable asset to your organization.
- You can be your own boss: a business administrator can be versatile in his or her choice of operation. You can choose to start your own business using all the skills you have acquired or work for a company. Owning a business administration degree outs you on the path of becoming whoever you want to be career-wise.
- You have an advantage of a flexible career: getting a degree in business administration helps you to have flexibility in your career. You can choose to work as a finance manager, an accountant, human resources manager and also in any marketing firm.
- You have a chance of getting career growth. As you continue in the field as a business administrator, you have more opportunities to explore in this filed. If you wish to study more in this field, you can take up the postgraduate studies which may take up to six years to finish, or even other professional courses which can be up to a year or more as the case may be. These professional studies act as an elevator for your journey as a certified business administrator.
Where Can I Study Business Administration
Most educational institutions such as the; University, training centers, polytechnics, business schools, and other institutions of learning offer business administration in their course outline. Some of these institutions of learning may offer the course under a different name but they still mean the same thing. Some of these other names may be business management, business studies, management studies, and so on. You can study business administration as an undergraduate degree and also in masters and postgraduate studies. Other professional courses are also available for business administration certification and they are well recognized. You can visit various websites online to learn how to take these professional courses and how to get certified.
Furthermore, obtaining a degree can be quite challenging since you have to input both time and resources, it is, therefore, necessary to study what would bring great impact such as getting a job at the end of your study. Business administration is a very versatile field which makes use of practical tools to implement networking and marketing skills its studies.
As a business administrator, you have a list of career roles you can pick from and work hard to become a professional in your choose field. Businesses are been created almost everyday and therefore, there is an increasing demand for more business administration professionals who can run a business effectively and also make more profits for the business, which of course is the main purpose of creating a business. Business administrators play huge roles in the success or failure of any business enterprise. You can choose to make a great impact in your chosen field by choosing the right course of study in which business administration is a very good choice and would always be in demand for a long time.