Introduction to Business Administration
Business administration probably incorporates one of the widest ranges of career opportunities available, making it an extremely popular career choice. A degree in business administration can open opportunities for working in practically any company setting, from the smallest Mom and Pop shop to the largest Fortune 500 corporation and can include such strategic areas as international business, information technology (IT), production and facilities management, or operations management.
Business Administration Job Description
Specific business administration tasks include coordinating and directing the services that help companies operate efficiently. These tasks might involve overseeing daily production or sales operations, managing staff and employees, chairing board meetings, administering policies and procedures, analyzing budgets, approving purchases and more. Business administration is one of the most flexible career paths available, offering a broad range of job possibilities.
Business Administration Requirements
According to AllBusiness.com, the first business school, Ecole Superieure de Commerce de Paris (ESCP), opened in Paris in 1819, dedicated to teaching economics and finance. Following the Industrial Revolution many years later, American schools began offering programs in business management and business administration.
Business administration careers in small companies may require only experience, especially for entry-level positions. Still, even in these cases, a bachelor's degree makes promotion and advancement to higher paying positions more likely. Most high-ranking positions such as Chief Executive Officer (CEO) or Chief Operations Officer (COO)-especially those in large corporations-require a Master's in Business Administration (MBA) or a related field.
Business Administration Career Outlook
Business administration jobs are expected to increase by approximately 12 percent between now and 2018. This is similar to the average growth expected for most job classes.
According to the US Bureau of Labor Statistics (BLS), demand for business administration positions should continue to be strong for facility managers, in particular, though competition for these positions is likely to increase.
Salaries in the field of business administration offer the broadest scope of possibilities, from approximately $26,000 for office administrators in small companies, to six-figure salaries for CEOs in the largest corporations. For instance, the mid-range salary for an office manager was approximately $31,500 in 2008, while the average administrative services manager earned approximately $73,500 that same year, according to the BLS.
Business Administration Trends
More and more companies, large and small, are reducing their budgets and cutting expenses in an effort to increase profit and remain solvent. While these reductions could eliminate career opportunities, the need for experienced and qualified facility managers, who can accomplish the tasks needed to keep a business profitable, is expected to increase.
Additionally, as more companies "go green" and focus on becoming more eco-friendly, opportunities for managers in the environmental arena are expected to rise as well.