Students always seek different degree paths to reach their destination and make a difference in the industry. When pursuing different concentrations in the business field, students might need to put more pressure on their minds as they can come across the terms: Business Management and Business Administration. These two terms are confusing enough to make students start itching their heads. You might perceive that these two terms sound similar, but there is something under the hood that you should uncover. Understanding the differences, importance, and career outcomes of these two degrees is not easy unless you make time and read this post till the end. Keep walking with us if you itched your head about these two terms.
What is Business Administration and Management?
Business administration and business management are identical yet different career options to consider for a business degree. The business landscape is more dynamic than before, making it tough for new professionals to survive in the field. Not having the required knowledge and experience means no space for you in the room. Students in the current time are well-off with a business degree, but which one is better – Business Management or Business Administration? Let us explore!
a) Business Administration Definition:
Business Administration is a multifaceted administrative field that incorporates different roles and responsibilities. Business administration professionals manage an organization’s resources, people, and time. The administrative activities will ensure your business run effectively, profitably, and efficiently.
Business administration is a career option related to regulating all the necessary tasks associated with running a business or company. The degree incorporates various aspects of the business landscape related to administrative activities. A company’s business administration professionals play the following essential roles to keep the wheel rolling.
- Employees management
- Making critical growth decisions
- Managing day-to-day operations and activities
- Reiterating the common company goals and objectives
- Directing the entire team towards achieving these goals and objectives
Business administration is centered around the leadership and operations of a business or company. The analytical skills and training students acquire in this domain are essential for dealing with the modern and technical business world. Once you are graduated with this degree in hand, you can assume multiple administrative roles in a company.
b) Business Management Definition:
Business management incorporates the effective management, coordination, and organization of business activities. It is a broad area where the managerial entities manage and motivates employees to reach their top productivity levels.
Business management is centered around managing and organizing the assets and resources of a company or organization. A business manager will design the growth strategies and direction for the company rather than steering it. Talking about the development of business infrastructure and its future, everything falls under the domain of business management.
Monitoring a business’s core activities and operations to see if any necessary tweaks is a business manager’s job. They will ensure higher profitability and ROI by managing resources like Human, Capital, and Tangible and Intangible Assets. A business manager can play the following roles for better results and improved business performance.
- Manage operations
- Planning initiatives
- Manage the interaction between the company and the business world
- Lead larger teams for better results
- Design growth strategies
Business Administration Vs Business Management – Which One is a Better Degree?
“Business administration and business management are both degrees that offer a foundation in business concepts, but the focus of each degree is slightly different,” – says Stephanie Shayne EdD, MBA, and Director of Husson’s School of Business & Management & Graduate Programs. Understanding the difference between these two degrees is not simple as you may find various role-driven differences on an industrial level. However, you won’t find many differences between these two degrees on the academic surface.
Business administration is more like a technical and specialized degree than business management. Before we jump into the differences between these degrees, why not glance at the similar core competency areas that both the degrees can cover? When you look at the course curriculum of each degree, you will find the following subjects on either side.
- Business ethics
- Human Resource
- Business Law
Business Administration Degree:
A four-year degree in business administration will set you up for various jobs in the industry. Throughout your time in the business program, you will learn, analyze, and apply numerous business concepts and fabricate necessary skills. While studying business administration, you can decide to concentrate on the field completely or select a particular focus, contingent upon your inclinations.
Various universities offer a four-year Bachelor’s degree and Master’s degree in business administration. Students can enroll in this degree to acquaint themselves with administrative skills and practices to make a difference in the industry. Once you are enrolled in this degree, you can expect to study the following areas and build your expertise.
- Business Statistics
- Business Policy and Strategy
- Business Law
Once you graduate with a Bachelor’s degree in business administration, you can enroll in a Master’s degree if you dream of pursuing your goal on academic fronts. Enrollment in a Master’s degree would add additional skills to your resume as you will study the following areas.
- Advanced Economics
- Global Strategic Management
- Managerial Accounting
- Management Communications
Business Management Degree:
Students who pursue a business management degree can expect to assume leadership and managerial roles in the future. Business management involves supervising business assets like Human capital and other assets (short-term and fixed assets). While seeking a business management degree, you will take courses covering a broad arrangement of standards and practices in marketing, management, money, and more to set you up best to lead a group and company to progress.
The rich curriculum program of business management will empower you to develop the skills required for taking a company to the next level. Students’ core competencies in this degree are matchless, making it a perfect choice for the current dynamic business era. Here is a list of courses you will study in business management.
- Business Strategy
- Business Law and Ethics
- Corporate Finance
- Management and Organizational Behavior
- Principles of Marketing
- Financial Accounting
- International Management
Business Administration VS Business Management – Key Differences To Know:
Business administration emphasizes daily running and long-term strategic goals, whereas business management deals with the human aspects of running a business.
Students might find it hard to differentiate between the two concepts, especially when they want to choose one. Understanding the differences could lead you to a clear point where you can make an educated decision. Let us explore the following section for a vivid picture of what makes business administration different from business management.
1. Degree program differences:
Studying business administration will expose you to standard business subjects that you can learn during the course of your studies. Once you learn these subjects and their roles, you can choose one and declare it your specialty program (major area of study). Students can choose a single subject like Accounting or HR as their specialty subject and assume a role in that area.
However, the story is different in business management. Students take courses to foster their management and leadership skills and choose specialties within the business field. Moreover, these students also participate in different event organization endeavors to polish their skills and understand what it takes to throw and manage a mega event. They remain in the business department while developing skills through multiple practical undertakings.
2. Workspace/ work environment differences:
Business administration representatives frequently begin working in a particular department inside a company that uses their area of strength. They will often devote their endeavors inside a solitary division instead of regulating a few groups or cycles across functions. They direct the effectiveness of an organization’s center tasks and participate in research, key preparation, and planning.
In business management, employees frequently start in places where they foster abilities to assist them with overseeing individuals and leading a team. Numerous associations anticipate that business managers should accept influential positions and supervise everyday business assignments and functional obligations. When a business manager serves a more significant job, they might direct different employees and settle on department-level decisions.
Business Administration Vs Business Management – Essential Skills:
Talking about the required set of business administration and management skills, both are quite similar in a few aspects. Professionals will assume leadership roles on both fronts, making it necessary to have critical thinking and problem-solving abilities. However, there are differences when you dig deeper. Let us explore!
Business Administration Skills:
Business administration requires you to have a sharp mind rather than a sharp eye. Owing to this, the administrator should have the following skills developed throughout the business administration degree.
- Strategic planning
- Analytical thinking
- Ability to work in a fast-paced environment
- Active listening
- Problem-solving abilities
Business Management Skills:
A business manager should be dynamic enough to keep everyone motivated and direct them towards the common corporate goal. Talking about the skillset for this role, a business manager should be:
- Able to see and analyze the bigger picture
- A motivator
- Able to delegate tasks
- An innovative and creative thinker
- Cooperative and helping
- Able to communicate effectively
Business Management VS Business Administration – Career Options:
Being a business leader in the current dynamic corporate landscape is not easy as you have to wear multiple hats. However, business management and administration degrees can equip you with the skills and knowledge necessary for keeping the wheel rolling. Career options and job outlook are something that graduates keep on top of their priority lists. As a student, you might ask yourself, what would I get if enrolled in any one of these degrees? Let us know!
Careers in Business Administration:
Professionals with a business administration degree tend to be more specialized and can expect a dominant role in a company. You probably could have this question in your mind: What is a business administration degree good for? Well, here is the answer! You can assume the following roles on an industrial level after your graduation.
- Staff Accountant
- Human Resources Administrator
- Business Analyst
- Marketing Specialist
- Budget Analyst
- Cost Estimator
The Bureau of Labor Statistics (BLS) has reported that employment for these professionals is expected to grow by 7% from 2018 to 2028. Owing to this stat, you should consider enrolling in this degree before it’s too late.
Careers in Business Management:
Despite being a challenging and competitive field at the management level, the number of opportunities in business management is plentiful. Companies of all sizes always need the expertise of business managers, and hence, they have their doors opened. Here is a list of potential career opportunities you can assume with a business management degree.
- Business Manager
- Marketing Director
- Financial Manager
- Human Resource Manager
- Operations Manager
- Financial Reporting Manager
- Management Analyst
Same as the previous one, The Bureau of Labor Statistics (BLS) expects employment in the business management occupations to grow by 5% from 2019 to 2029.
Start Your Journey in the Business Field Today!
The business community is fast becoming competitive and dynamic, and we are yet to witness more changes. Professionals are coming up with more competencies and skills to secure a position in the industry; Why do you not worry about your future? Pursuing a degree in business administration or business management could be a perfect step to cope with the ever-changing business landscape and secure a high-end position after graduation. However, before you choose a degree, it would be best to research and explore it to see whether it would be a perfect pick for you!
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