Management of various aspects of a business venture to achieve the common goals is known as business administration. It involves efficient management of resources, processes as well as people. The importance of efficient business administration cannot be overemphasized. It is even more important in today’s highly competitive and rapidly changing business world. It is the driving force of an organization. Efficient business administration ensures:
Optimum use of organizational resources: The growth and stability of a business venture depends on the efficient use of its physical and human resources. Decreased wastage can also have a significant impact on the profitability of an enterprise. For all these, efficient business administration is necessary.
Smooth day to day functioning: Proper administration ensures that all the functions of the enterprise are carried out in a continuous and orderly fashion. This in turn helps in increasing the overall profitability of the business.
Competitive advantage: Efficient administration can act as one of the competitive advantages of a business and enable it to surge ahead of its rivals.
Increased motivation and reduced turnover: Human resource management is an important area of business administration. Employees are the most important resource in an organization and their efficient management is essential for success. A good administrator is capable of motivating employees to give their best. He should be able to reduce absenteeism and turnover, and ensure uninterrupted continuity of business activities. An able administrator also fosters team spirit among employees. This helps in increasing the overall business efficiency.
Cordial relations: For proper functioning of a business venture, it is important to maintain good relations with the customers as well as the suppliers. It is the duty of an administrator to ensure this. An efficient manager ensures that the organization is on good terms with everyone in the industry.
In order to carry out all these functions effectively, an administrator needs extensive subject knowledge and unique skills. Business administration program offered by Victoria International College (VIC) offers a broad overview of the commercial world. The course covers all the main areas of management like finance, human resource and marketing, and addresses business issues at international level. Additionally, the course also helps in the development of essential soft skills turning students into prized hires for potential employers.
About the Course
The Business Administration course offered by Victoria International College focuses on organizational processes and systems, and rapidly changing business trends. The course is designed to train you in attitudes and skill, and to equip you with the relevant knowledge to enable you to excel in the field of administration and management. The demand for business administration graduates is not limited to one industry or sector. VIC’s Business Administration course allows you to take advantage of a large number of opportunities.
The main aim of the program is to equip students with the knowledge and skills essential to plan, organize, direct and control the activities of an organization. Upon completion of the course, you will be capable of improving the functioning of an enterprise with the implementation of suitable business administration processes. The program will also help you appreciate the importance of strategic business planning, efficient management of data, resources and people, and the role of leadership. Some of the subjects covered by this program include:
- Finance and Accounting
- Human Resource
- Decision Making
- Quantitative Analysis
Marketing: Many management experts consider marketing to be the most important aspect of business management. It is also one of the most popular areas of specialization. Market research, sales management and advertising are some of the sub areas of marketing.
VIC’s Business Administration program will familiarize you with process of gathering and analyzing market research data. You will also be taken through the sales process, which involves fixing costs, the transfer of goods to client location and associated formalities, and after sales activities. Advertising deals with the promotion of goods or services through various channels. The program covers this aspect as well. Apart from the theoretical background, projects will help you gain practical knowledge of the subject.
Finance and Accounting: Procurement and optimum use of business funds is covered under financial and accounting management. As funds are the lifeline of any business, financial and accounting management is one of the most important subjects of the program. Financial accounting, management accounting, taxation and costing are the sub areas of this subject.
Under financial accounting, you will be taught to prepare different financial statements and maintain records of all the financial dealings of an organization to demonstrate its financial condition. Management accounting involves analysis for taking optimum decisions with regards to dividend policy and venture plans. Record, arrangement and analysis of costs and cost control measures is covered under costing. Various direct and indirect taxes applicable to an organization are dealt under taxation.
Human Resource: Personnel or human resource management is another major area of business administration. It includes sub areas like recruitment and selection, training and development, wage administration, industrial relation and personnel planning. Here you will learn about the process of hiring suitable candidates for various positions, increasing the value of employees through training and development programs, developing wage and encouragement policies for workers, maintaining good employee relations and assessing the future manpower requirement of an organization and planning accordingly.
Decision Making: Decision making ability is essential at all the levels of an organization. For instance, strategic decisions regarding future growth and investment are taken by the board of directors, while managers are required to take tactical decisions for effective departmental management. Business Administration program will familiarize you will the different types of decisions like strategic decisions, tactical decisions, operational decisions, programmed decision and non-programmed decisions, and help you in gain knowledge about different techniques and creative thinking skills essential for taking optimum decisions.
Economics: The knowledge of managerial economic is essential for understanding the impact of various internal and external environmental factors on business. The subject will help you gain an understanding of the market conditions and offer analytical tools that can help you predict market behavior. This is very helpful in forward planning for an organization.
Qualitative Analysis: Quantitative techniques offer a scientific approach to the process of decision making. Mathematical expressions, numbers and symbols are used to in these techniques. Knowledge of these techniques will enable you to use scientific analytical tools to find solutions for different business problems.
Why Choose this Course?
VIC programs are designed for the overall development of students. The Business Administration program can help you gain the knowledge and skills necessary to succeed in the world of business. At VIC, the size of classes has been kept small so that students receive personalized attention from experienced faculty members. Focused course structure, great environment for learning, fellow students from different corners of the globe and interaction with knowledgeable teachers make the educational experience at VIC unique.
The opportunities available for individuals having a degree in business administration are unlimited. VIC’s Business Administration program can help you make the most of these opportunities. The program results in the development of strengths like:
- Deep understanding of organizational structure and behavior
- Persuasive and effective oral and written business communications skills
- Ability to research, understand and use financial and research data
- Knowledge of evaluation techniques
- Analytical and critical thinking skills
- Sound, rational decision making skills
- Creative approach to problem solving
- Appreciation of the causes and the potential effects of the changes in economic environment
- Ability to manage resources, projects and time efficiently
- Initiative and self-reliance
As all these qualities, strengths and skills allow graduates to make significant contribution to an organization immediately, they are sought after by a large number of employers. This means that the career prospects for all VIC Business Administration graduates are bright.
Career Prospects after a Course in Business Administration
There is a huge demand for individuals with a degree in Business Administration in various sectors and industries. You can find employment in government as well as private sectors. Efficient administration is a basic necessity regardless of the size of an organization. This means that you can you can find employment in small, medium as well as large firms.
You can choose the industry of your choice. From financial firms to entertainment enterprises, managers for overlooking, finance, marketing, human resource and other business functions are required in all industries. As VIC’s Business Administration program is focused on the requirements of the industry, our students possess the knowledge and skills that make them prize-hires for prospective employers. You can expect our complete support during the placement process.
The program encourages entrepreneurship. This means that if you have a good idea, you can start a venture of your own instead of working under someone else. You can also opt for higher studies after the program. You can specialize in areas like marketing, finance, project management or human resource management. This can further improve your employment prospects. Victoria International College has been offering quality education service for the past 35 years. Experience, excellent faculty, world class facilities, industry specific programs and international focus make VIC Business Administration an ideal choice.