Business Administration is the process of making and executing financial, marketing, operational, and hiring decisions to positively affect the stability, growth, and profitability of a commercial enterprise.
This unique discipline evolved from human discovery and scientific inquiry. Here is a brief survey of Business Administration’s more important historical and scientific discoveries.
2300 BCE: The Beginnings of Commerce
1458: The Invention of Accounting
1776: A Revolution in Economics
1800s: Dawn of Business Ethics and Social Responsibility
1914: The Science of Management is Born
The Science of Business Administration
Business Administration seeks to improve the fortunes of a commercial enterprise by applying a unique array of scientific tools (mathematics, statistics) and practices (accounting, marketing, finance) to assure the proper use of natural, capital, and human resources.
Business administration is a practical science most people can learn and successfully apply to any job position or business problem. From the solo entrepreneur to a multi-national corporation, every business concern needs skilled administrators in order to succeed.