Business administration is the administration of a commercial enterprise . It includes all aspects of overseeing and supervising the business operations of an organization.
41-404: The administration of a business includes the performance or management of business operations and decision-making , as well as the efficient organization of people and other resources to direct activities towards common goals . In general, "administration" refers to the broader management function, including the associated finance , personnel and MIS services. Administration can refer to
82-500: A flat rate for full-time students, such that a student taking over 12 or 15 credit hours will pay the same amount as a student taking exactly 12 (or 15). A part-time student taking less than 12 hours pays per credit hour, on top of matriculation and student fees . Credit for laboratory and studio courses as well as physical education courses, internships and practica is usually less than for lectures – typically one credit for every two to three hours spent in lab or studio, depending on
123-580: A "B" (three grade points) in a four-credit class yields 12 "quality points". It is these which are added together, then divided by the total number of credits a student has taken, to get the GPA. Transfer credits are not necessarily counted in the GPA. Some courses may require a grade higher than that which is considered passing. In this case, a grade of "D" will still add to the total number of credits earned (unlike an "F") Various types of student aid and certain student visas require students to take and complete
164-425: A 15-week semester. Homework is time the student spends applying the class material without supervision of the professor: this includes studying notes, supplementary reading, writing papers, or other unsupervised activities such as labwork or fieldwork. Students are generally expected to spend two hours outside class studying and doing homework for every hour spent in class. The Code of Federal Regulations defines
205-431: A credit, and a full year course is worth a full credit. A normal class load consists of five to six classes a semester, which leads to five-six credits being accumulated each school year. In Europe , a common credit system has been introduced. The European Credit Transfer and Accumulation System (ECTS) is in some European countries used as the principal credit and grading system in universities, while other countries use
246-474: A firm cannot utilize its resources properly so, it is the most important term in running a business firm. Strategic thinking , leadership , problem-solving , communication , and the ability to work effectively with a diverse range of people and organizations are among the key skills and competencies required of effective managers. Managers must also be able to balance the needs and interests of various stakeholders, such as employees, customers, shareholders, and
287-465: A minimum number of course credits each term. Schools often require a minimum number or percentage of credits be taken at the school to qualify for a diploma from that school—this is known as a residency requirement. Credit by examination , also known as credit by exam , is a way of receiving course credit without taking the course. This grade often shows as a "K" on a transcript , however it carries no credit hours, and therefore has no effect on
328-642: A minimum of 75% of a standard load (i.e. 0.750 EFTSL per year) is typically required to achieve and retain full-time status. There is no unified academic credit system in Brazil . The regulating bodies of the Ministry of Education and the legislation count the hours of instruction. A full-time year of higher education takes between 800 and 1200 instruction-hours in Brazil, which would be equivalent to 50-80 US credits and 60 European ECTS . In Uruguay 's University of
369-663: A section) may have "load lifts" or "course reductions." Faculty at research universities typically have an official teaching load of 12 SCH per semester, but their actual load is reduced because of the requirement for significant peer-reviewed published research. While faculty workloads are almost universally based on the number of SCH taught, faculty teaching in technical "clock hour" programs in technical and community colleges have workloads that more closely resemble high school teaching, so that Faculty in community colleges typically teach 15 SCH or more per semester (5 days per week at 3 hours per day). In Canada , credits can be earned at
410-399: A week are generally awarded six credit hours. Third and fifth-year classes are more specialized so some facilities may offer half-courses that run from September to December or January to April. These courses are awarded three credit hours. In some provinces, such as Ontario, a different system is used. The school year is often broken into two semesters. A single semester class is worth half
451-587: Is a bachelor's degree in commerce and business administration. The duration of the degree is four years in the United States and three years in Europe. The degree is designed to give a broad knowledge of the functional aspects of a company and their interconnection, while also allowing for specialization in a particular area. The degree also develops the student's practical, managerial and communication skills, and business decision-making capability to succeed in
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#1732764807847492-562: Is a direct measure of the notional learning time in hours. If credit is assigned for a qualification or a components of a qualification on the RQF, this is a tenth of the TQT rounded to the nearest whole number. In high schools in the United States , where all courses are usually the same number of hours, often meeting every day, students earn one credit for a course that lasts all year, or
533-507: Is a learning outcomes-based credit system, with one credit representing ten hours of notional learning. Credits are embedded in the qualifications frameworks for Wales and Scotland, while their use in England is voluntary but covered by a national agreement that is consistent with use in Wales and Scotland. Credits are associated with a level on the relevant qualifications framework, representing
574-496: Is a postgraduate degree with a focus in business management . In terms of content, it is similar to the Master of Business Administration (MBA) degree as it contains identical management courses but is open to prospective postgraduate candidates at any level in their career unlike MBA programs that have longer course credit requirements and only accept mid-career professionals. The Doctor of Business Administration (DBA or DrBA)
615-628: Is a research doctorate awarded on the basis of advanced study and research in the field of business administration. The D.B.A. is a terminal degree in business administration and is equivalent to the Ph.D. in Business Administration. The PhD in Management is the highest academic degree awarded in the study of business management. The degree is intended for those seeking academic research- and teaching-careers as faculty or professors in
656-549: Is measured on the basis of how much income it generates for the: A business that can harvest a significant amount of value from its assets but cannot demonstrate an ability to sustain this effort cannot be considered a viable business. Course credit A course credit is a measure of the size of an educational course , often used to determine whether the requirements for an award have been met, to facilitate transfer between institutions, or to enhance intercomparability of qualifications. Credit may be input-based – defined by
697-549: Is separated into two semesters, or four terms; while it takes one semester for one credit, there are two compulsory courses taken in Grade 10 that each take up one term, earning half a credit upon completion, adding up to one credit, and being considered as one course that has merely been separated. In Alberta , Nunavut , and Northwest Territories , 100 credits are required to graduate high school. The course credit system in Ontario
738-596: Is similar to the one used in the United States . The credit and qualifications frameworks for Scotland and Wales use the same UK credit, equivalent to ten hours of notional learning, as the higher education sector. All qualifications tied to the Welsh and Scottish frameworks have a credit value, covering schools, further education, higher education and vocational education. The Regulated Qualifications Framework (RQF) for non-higher education qualifications in England and Northern Ireland uses 'Total Qualification Time' (TQT), which
779-558: Is the harvesting of value from assets owned by a business. Assets can be either physical or intangible . An example of value derived from a physical asset, like a building, is rent. An example of value derived from an intangible asset , like an idea, is a royalty. The effort involved in "harvesting" this value is what constitutes business operations cycles. Business operations encompass three fundamental management imperatives that collectively aim to maximize value harvested from business assets (this has often been referred to as "sweating
820-404: Is to implement a sustained delivery of goods and services to the business's customers at a cost that is less than the funds acquired in exchange for said goods and also self-employee services—in short, making a profit . A business whose revenues are sufficiently greater than its expenses makes profit or income. Such a business is profitable . As such, generating recurring "revenue" is not
861-630: The National Institute of Technology, Tiruchirappalli , one of the top technical universities in India, the GPA is calculated on a ten-point scale, with weighted average of the grades received in the respective course. The grades awarded are; S, A, B, C, D, E and F (fail). This GPA is also known as CGPA (Cumulative Grade Point Average). On an average, students in India need to complete 180-185 credits after their four-year engineering course to be awarded
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#1732764807847902-518: The bureaucratic or operational performance of routine office tasks, usually internally oriented and reactive rather than proactive. Administrators, broadly speaking, engage in a common set of functions to meet an organization's goals. Henri Fayol (1841–1925) described these "functions" of the administrator as " the five elements of administration ". According to Fayol, the five functions of management are planning, organizing, commanding, coordinating, and controlling. Without proper business management,
943-592: The ECTS as a secondary credit system for exchange students . In ECTS, a full study year normally consists of 60 credits. ECTS grades are given in the A-E range, where F is failing . Schools are also allowed to use a pass/fail evaluation in the ECTS system. In India, in engineering colleges which follow the course credit system, the number of 'contact hours' in a week of a particular course determines its credit value. Typically, courses vary from two to five credits. According to
984-625: The GPA. This also means that a student often must take other classes instead, to meet minimum hour requirements. This still benefits the student, because he or she can learn something new and useful, instead of repeating what is already known. Defense Activity for Non-Traditional Education Support (DANTES) and College Level Examination Program (CLEP) are two programs that offer college bound students credit by examination. Faculty in comprehensive or baccalaureate colleges and universities typically have 12 SCH per semester. Faculty teaching significant graduate work or large classes (100 or more students in
1025-567: The Republic , a credit stands for 15 hours of work, including classes, personally studying and task activities. Since semesters last 15 weeks, a credit corresponds to one hour of work a week. In Canada, the term college often refers to a community college or trade school, whilst the more formal and inclusive term for post-high school education is post-secondary education. Most university courses run from September to April with 13 weeks before Christmas and 13 weeks after. Classes that meet three hours
1066-422: The amount of actual instruction necessary prior to lab. However, for some field experiences such as student teaching as a requirement for earning one's teaching license, a student may only earn 8-10 credits for the semester for doing 40 hours a week of work. To figure a grade-point average (GPA), the grade received in each course is subject to weighting , by multiplying it by the number of credit hours. Thus,
1107-444: The assets"): The three imperatives are interdependent . The following basic tenets illustrate this interdependency: The business model of a business describes the means by which the three management imperatives are achieved. In this sense, business operations is the execution of the business model. This is the most straightforward and well-understood management imperative of business operations. The primary goal of this imperative
1148-400: The competitive world. Many programs incorporate training and practical experience, in the form of case projects, presentations, internships, industrial visits, and interaction with experts from industry. The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration with a significant focus on management. The MBA degree originated in the United States in
1189-505: The conversion of credit hours to clock hours as: For courses that are not required to use the conversion between credit hours and clock hours, a further definition is given in the Federal Student Aid Handbook of: A credit hour is an amount of work that reasonably approximates not less than Normal full-time studying is usually 15 credit hours per semester or 30 credit hours per academic year. Some schools set
1230-542: The credit point structure at each university. This is used as a common measure primarily for calculation of tuition fees and subsidies for government-supported places, including loans under the Higher Education Loan Program (see Tertiary education fees in Australia ), but also for the determination of "full-time" status for the purposes of government assistance and requirements of student visas;
1271-580: The degree B.Tech/B.E. and a one-semester-long thesis project. A new CBCS (Choice Based Credit System) scoring system was devised by UGC for undergraduate students from the academic year 2016–17. The system provides an opportunity for students to pick courses from core, elective or skill-based courses. In the United Kingdom , the standard credit system in higher education is the Credit Accumulation and Transfer Scheme (CATS). This
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1312-414: The depth and complexity of the learning. A full academic year normally consists of 120 credits. Two UK credits are equivalent to one ECTS credit. In a college or university in the United States, students generally receive credit hours based on the number of "contact hours" per week in class, for one term, better known as semester credit hours ( SCH ). A contact hour includes any lecture or lab time when
1353-437: The early-20th century, when the nation industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses. The Master of Management (MiM) or Master of Science in Management (MSM)
1394-453: The end of a course in high school . Earning a credit depends whether a person passes the course or not. A certain number of credits are required to graduate high school. A minimum of 30 credits are needed in order to graduate in specifically Ontario , those being 18 compulsory credits and 12 elective credits. One credit is equal to one completed course per semester, with the maximum credits earned per semester being four-to-five. Each school year
1435-420: The focus of operations management; what counts is management of the relationship between the cost of goods sold and the revenue derived from their sale. Efficient processes that reduce costs even while prices remain the same expand the gap between revenue and expenses and derive higher profitability. Types of recurring income: The more profitable a business is, the more valuable it is. A business's profitability
1476-490: The larger community. Management is a critical aspect of any successful organization, and it requires a wide range of skills, knowledge, and expertise. Whether managing a small team or a large corporation, effective management is essential to achieving success and driving growth. Another critical aspect is effectively managing and motivating employees. Managers must be able to foster a positive and productive work environment, as well as recognize and reward employees who contribute to
1517-527: The overall success of the organization. This can include providing opportunities for professional development and growth, as well as establishing clear communication channels and ensuring that everyone understands their role and responsibilities. The Bachelor of Business Administration (BBA, B.B.A., BSBA, B.S.B.A., BS, B.S., or B.Sc.), Bachelor of Science in Business, Business Administration, Business Management (BS), or Bachelor of Commerce (Bcom. or BComm)
1558-464: The professor is teaching the student or coaching the student while they apply the course information to an activity. Regardless of the duration of the course (i.e. a short semester like summer or intersession) and depending on the state or jurisdiction, a semester credit hour is 15-16 contact hours per semester. Most college and university courses are three semester credit hours (SCH) or 45-48 contact hours, so they usually meet for three hours per week over
1599-411: The quantity of instruction given – or outcome-based – defined by the learning outcomes and a notional time to achieve those outcomes. In Australian universities , no common credit point system exists, although 48 credit points per full-time year, or 24 per semester, or some multiple thereof , is not uncommon. This permits a semester of study to be broken into more flexible combinations of units than
1640-567: The study of management at business schools worldwide. A newer form of a management doctorate is the Doctor of Management (D.M., D.Mgt., DBA, or DMan). It is a doctoral degree conferred upon an individual who is trained through advanced study and research in the applied science and professional practice of management . This doctorate has elements of both research and practice relative to social and managerial concerns within society and organizations. Business operations Business operations
1681-434: The typical four, due in part to 24 being a highly composite number . Credit points tend to reflect all forms of study and assessment by a student in a unit, not just contact time . The Australian Government 's common measure of university course credits is known as Equivalent Full-Time Student Load (EFTSL). Under this system, a normal full-time load of study is 1.000 EFTSL per year or 0.500 EFTSL per semester, regardless of