Regardless of the kind of organization you work for, if you work in business, there are some basics you will need to know. Business administration courses in college will teach you how to plan for success, measure it, and replicate it. From accounting and financial management to human resources and marketing, some concepts are common to all companies. Consider them the pillars of business administration, holding up an organization and building the foundation of your career.
If you don’t understand finances, you will have no way of knowing whether your organization is meeting its revenue goals, sustaining profitability, and fulfilling its mission. A financial management course should introduce you to some basic concepts and principles of how the money works in corporate financial settings. Financial planning, capital budgeting, strategic planning, financial return measurements, and stocks and bonds should be covered. You need to understand some basics about accounting and spreadsheets and how to read financial reports.
You work in the real world. That means you need to know what’s going on in your industry, the community, country, and global economy. Macroeconomics will teach you about how markets function and the policies that define and affect them. You’ll learn about economic growth, inflation, unemployment, recession, economic institutions and where your particular business might fit in. Most importantly, you’ll learn how current economic events might affect your business.
Entrepreneurial and Small Business Strategies
Maybe your long-term goal isn’t to work for someone else, but rather to work for yourself. Taking courses in entrepreneurship and small business strategies will help you understand what goes into starting and running your own business. You’ll learn how to start, buy, franchise, own, and manage a small business. Some of the topics you can expect to explore are business plan development, strategic management and planning, tactics, financial and legal issues, marketing, Human Resource management, and international environments.
Whether you’re rolling out a cutting-edge piece of software or a new menu item, it’s a kind of a project, and should be treated as one. Understanding project management helps you run your department or company more efficiently. This kind of course will teach you about the design, set up, and maintenance of a business project from start to finish. The project management process includes initiating, planning, controlling, reporting, and closing. Topics will cover integration, scope, time management, cost, quality, human resources, communications, risks, procurement, planning, executing, controlling and closing. You’ll also learn about the software that helps to make the whole process easier.
Human resources is a powerful part of any company. The HR department recruits, hires, and trains, supervise, motivates, and evaluates employees. People management courses can introduce you to use best methods to get the most out of your team. HR also manages compensation and benefits, provides guidance on workplace behavior, and offers opportunities for learning and development. You’ll learn about legal issues, recruitment, training, performance appraisals, discipline, and grievance handling. You will also need to know the principles of hiring and professional evaluation, as well as the ethical and legal requirements of human resources. And all of what you do with people needs to tie into the broader mission of your company.
Data Driven Decision Making
Today, it’s easy to prove success—or failure—because there are so many data points. Learning to find, analyze, and leverage data can help you to stand out in any organization. Courses on data-driven decision making teach you how to use data as a foundation for informed decision making. Case study analysis provides you with real-life examples, while software tools make it easy to gather and analyze data and propose actions derived from the analyses. Risk analysis as well as predictive statistics are also important parts of data-driven decisions.
Enroll in a Business Administration Program
If it seems like there’s a lot to learn in Business Administration, there is! But you can learn the basics in college. Start out with an Associate of Applied Science Degree in Business Management and transfer your credits and knowledge when you’re ready to pursue a Bachelor’s Degree in Business Administration. At Charter College, you can complete both degree programs completely online. Don’t have a computer? We’ll provide you with one! Classes are enrolling now. Call 888-200-9942 or fill out the form to learn more.