Business administration and business administration are two possible professional fields for a business administration degree. Before you decide which business program is right for you, it’s important to understand the difference between these two attractive options.
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What is business administration?
A bachelor’s or master’s degree in business administration prepares you with a wide range of skills relating to operational business. The job of a business economist is to oversee the company’s various processes and ensure that everything runs as smoothly as possible.
A CEO also guides the company’s direction to align it with the goals and priorities set by stakeholders. The company’s success depends largely on day-to-day business, and business administration is the key to managing it.
What is corporate governance?
A business manager focuses more on creating the path than directing it. This is the company’s decision maker (or decision maker, as there may be a team of business leaders). They develop the infrastructure that shapes the business and its future. You can monitor core operations to determine if adjustments are needed to improve profitability or structure.
What is the variance between business administration and management?
On the surface, these two jobs appear identical as they have similar goals. Both an Administrator and a Business Manager work to keep the business running efficiently. Both are also critical to commercial success, but they play different roles in achieving that success.
According to Stephanie Shayne, EdD, MBA and Director of the Husson School of Business and Management and Graduate Programs, “Business and management are degrees that provide a foundation for business concepts, but the focus of each degree is slightly different.”
Corporate governance focuses on the organization and management of a company’s resources (including human capital). Business management is people-centric. Business degrees strongly emphasize communication, people management, and general management theories. Important skills include interpersonal communication skills, the ability to lead teams and collaborate with others, and the ability to formulate and communicate a mission and vision for the company.
Business degrees are more technical and focus on the practical aspects of running a business. Business administration courses often allow students to focus on specialist areas such as finance, accounting or marketing. Important skills will vary by area of focus. For example, students interested in finance or accounting will need strong math skills, while those interested in marketing will need to rely on creativity and communication skills. Regardless of the approach, it is important for those working in different business areas to understand how their decisions and their departments or functions interact with other aspects of the business and the organization.
Difference between business administration and management college degrees
Unsurprisingly, the path to these degrees is also similar. Someone looking at the syllabus for each course would see many of the same topics, including:
- accounting
- commercial law
- microeconomics
- macroeconomic
- business ethics
However, there are also differences. For example, someone working toward a bachelor’s degree in business administration also takes:
- spreadsheet applications
- advanced economics courses
- Additionally, 30 hours of electives, some of which must focus on Computer Science and Business Informatics
Also, a student entering the business administration program will likely choose a concentration and select courses to support that choice. A student who wants to focus on management will take sales, small business, and risk management courses.
If a student focuses on marketing, classes will include marketing research, marketing and advertising management, and integrated marketing communications.
After completing the bachelor’s degree in business administration, a master’s degree can be acquired. This would add additional skills to your resume, such as:
- advanced economy
- operational accounting
- management communication
- Global strategic management
A Master of Business Administration requires a minimum of 36 additional credit hours.
The curriculum changes when you earn a bachelor’s degree in business administration. While it may include many of the same core courses, it also emphasizes other areas of study, including:
- business strategy
- corporate strategy in practice
- Basics of Marketing
Both programs will likely require an internship or professional project, but each focuses on the appropriate job title and skills.
Difference between business administration and workplace management
Administration means managing day-to-day business. However, the definition of management is taking control of something. A business graduate directs the company’s day-to-day operations, while a business graduate focuses more on overall leadership. One person can do both in a small business. However, larger companies are likely to have an administrator and a manager.
Someone with a business degree can lead a small team of employees or a department and advance to more advanced management positions such as CEO. A large company can also have several managers working together.
A business graduate is more of a solo job. Your entry position may be in Human Resources or Marketing. You can advance to department, site or company manager.
Career options and job prospects
Both of these career options will make you a business leader. However, each one offers a different path.
Careers in Business Administration
Career paths for business graduates tend to be more specialized, such as:
- Staff Accountant – Responsible for overseeing accounts payable, accounts receivable and the budget.
- Business Analyst – Analysis of operational and production data to find ways to increase efficiency and reduce costs.
- Marketing Specialist – Someone who oversees the company’s marketing staff and campaigns.
- HR Administrators: manage employees, hire and fire, and resolve conflicts.
BLS estimates that business graduates with a bachelor’s degree make nearly $100,000 a year. They’re also forecasting 9% growth over the next decade, which is average. They expect to add another 28,600 jobs by 2030.
Careers in Business Administration
The study of business administration is not geared towards a specialization like business administration. Positions can be more general, such as B. manager or focused. B. Head of Financial Reporting. Some common positions available to someone with a business degree are:
Operations Manager – Oversees an entire organization or multiple departments, such as B. accounting, job costing, sales and information systems.
Financial Reporting Manager – Works with the finance and legal departments to control costs.
Management Analyst – Maps the day-to-day operations of an organization and creates procedures and audits to manage performance.
According to the US Office of Labor Statistics (BLS), compensation and the availability of executive jobs depend on many factors, including industry and position. For example, sales managers have an average salary of $132,290 with an average growth rate.
On the other hand, a financial analyst makes around $83,660, and a management analyst makes $87,660. Both careers have average or above average projected growth rates over the next decade.
Business Administration vs Corporate Management: Important Skills
Both are leadership roles, and many of the skills required are similar. However, there are also differences. For example, both must be good communicators and have leadership qualities. Both also require critical thinking and problem-solving skills.