Business administration and management are the managerial control of a company. It comprises all areas of managing and overseeing business activities. The term encompasses the managerial aspects of a company's operations from the financial aspect to managerial leadership of the business. From a strategic perspective, it covers fields such as finance, strategic planning, project management, project implementation, management of manufacturing processes, marketing and planning. It also includes activities associated with human resources, training, and sales.
Business administration and management refer to the study and management of an organization. Business administration involves the formulation of strategic plans for an organization and the analysis and implementation of such plans. This involves planning, organizing, and controlling resources to meet the organization's needs. It also involves the implementation of plans and strategies that are developed in order to achieve goals. Business administration includes planning and organizing human resources and creating an effective workforce by hiring and firing employees, by establishing pay systems, and by evaluating performance by employees and by using productivity data to determine what changes need to be made and what actions need to be taken to improve and increase production. It also involves evaluating performance by customers or by suppliers, and making sure that the company's policies and procedures conform to government rules and regulations.
In business administration and management, there are four different kinds of managerial functions that an organization can undertake. These are managerial leadership, managerial decision-making, managerial strategy and managerial control. These four types of managerial activities, when combined with each other, form the different levels of managerial function within business administration and management.
Managers are in charge of all the work that needs to be done in every area of the organization. Management leadership involves the supervision of an individual manager who is responsible for carrying out different managerial tasks, while managerial decision-making involves decisions that are made by a group of managers. Managerial strategy involves a decision-making process that involves a set of strategic plans for an organization and its activities, and management control involves the implementation and evaluation of these plans and policies.
Business administration and management involve analyzing the financial aspects of an organization. This involves analysis of the income statement, balance sheet, cash flow analysis, and the management of capital expenditure. Management strategy involves strategic planning that involves strategies for increasing the revenue and operating efficiency and reducing costs.
Business administration and management involve planning a company's operation. The primary task of business administration is to establish the organization's goals and establish a plan to reach those goals. A business strategy is designed to improve the productivity of the organization and its performance.
Business administration and management also involve management of a company's human resources. The goal of business administration and management is to provide a safe and healthy working environment for its employees. The responsibilities of business administration and management are to promote good relationships among workers and management staff, to ensure that the company has enough manpower to conduct the tasks, to create a healthy work atmosphere and to reduce tension between management staff and employees, and to manage employees' health and welfare. It is also required to set quality goals for the company and to manage and train new employees and ensure that they can perform their tasks to a high degree.
Business administration and management include planning, implementing, and controlling human resources such as the quality of production, the organization's efficiency, the productivity of production, the quality of the products produced, and the overall efficiency of the company. A company's operations should be organized in such a way that it produces an output that meets the requirements of its customers and produces an income that can support the needs of the owners of the company.