Reasons Why You Should Study Business Administration
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.
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.
Reasons Why You Should Study Business Administration
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 labour 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 labour. 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 labour 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.