A9. Business Administration
Definitions
Administration
Provide a definition of administration.
Administration is a process by which an environment is designed and maintained in which individuals working in groups effectively accomplish specific goals.
Concepts of Administration
Administration as a practice is an art, it is knowing how to do things and the knowledge necessary for the practice comes from science.
The main function of administration is the formation of plans, policies, and procedures, setting up of goals and objectives, enforcing rules and regulations, etc
Universal functions in Administration
Planning: Action plan for the future
Organizing: Ensuring that the people and resources required are available
Coordination: Ensuring that all parts of the organization are working to achieve established goals
Control: Reviewing the organization performance
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Business
Define Business
It is an organization formed by a group of people, material and financial assets, with the objective of producing something or providing a service that meets a need and for which benefits are obtained.
Concepts of Business. (Define them in detail)
Business model: It is the business strategy by which the organization captures value.
Customer experience: Focuses entirely on customer satisfaction
Quality: Attributes that give value to the product or service.
Customer needs: Refers to the things that customers want or expect from the product/service.
Objective of Business.
These are the specific results that companies expect as the organization grows. Examples include productivity, performance, customer satisfaction, profits, etc.
Types or classification of business. (Define each in detail)
Business Activities can be classified into two categories
Industry: The sector where raw material gets transformed into beneficial products
Commerce: Relates to the exchange of goods, services or something of value, between entities.
What does “form of business ownership” refer to? Provide definitions.
Refers to the power that a person or group of persons has over an enterprise which gives them the power to make decisions and delegate tasks.
https://simplicable.com/new/business-concept
https://sproutsocial.com/es/glossary/business-objective/
Management
Define management.
Management is a systematic way of managing people and things within the organization. Management makes decisions under the limits established by management and makes use of available resources.
Functions of management. (Describe them in detail)
Planning: It is deciding in advance - what to do, when to do and how to do it.
Organizing: It is the process of bringing physical, financial and human resources necessary for the organization to function and achieve its goals
Staffing: The main purpose of staffing is to put right man on right job
Directing: It is about influencing, guiding, supervising and motivating subordinates to achieve the organization's objectives.
Controlling:It is to ensure that everything is done in accordance with the standards.
Important areas of knowledge for a business manager. Mentions as many as you know or find.
Communication
Leadership
Budget management
Motivation
Be organized
Address conflicts quickly
https://keydifferences.com/difference-between-management-and-administration.html
https://www.managementstudyguide.com/management_principles.htm
https://www.indeed.com/career-advice/career-development/business-management-skill
Organization
Provide a definition of organization.
Organization is the process of identifying and grouping work to be performed, delegating responsibility and authority and establishing relationships for the purpose of enabling people to work most effectively together in accomplishing objectives.
Mayra Dallana Hernández Corona
Your definitions are short but very specific and they have the necessary information, with your definitions it becomes clearer to me some topics can complement the information and what I have learned.
ReplyDeleteI like your answers because they are short and clear. Of all the blogs I have read, we all have differences in the answers and some coincide, but I consider that we all complement each other and it serves as feedback to be able to read the work of others to expand our knowledge.
ReplyDeleteI agree with you on that a business' objective is to expand and grow its organization, because it they manage to do that then it must mean they're making profits and making good decisions
ReplyDeleteI agree that leadership is undoubtedly a skill that all managers need to have, as they say it is better to have a leader than a boss.
ReplyDeleteI really like your definition of Organization, it´s simple and goes directo to the point.
ReplyDeleteit is very important know what the difference is between business and Management, and your information explain very well.
ReplyDelete