Business Administration Basics that Every Student should Know
As a BBA student, it is important that you understand the fundamentals of business administration. These basics provide a framework to help you understand the complex issues and challenges facing modern organisations. As one of the leading BBA colleges in Kolkata, we discuss some of the basic concepts that every BBA students should know:
Financial resources management:
Financial resources management is the process of planning, organising and implementing financial activities in a business. It helps in achieving objectives of the business by making use of available funds effectively.
Business administration courses teach efficient finance management using modern tools and software. These courses help BBA students understand the basics of organisational finance management, including investment analysis, capital budgeting, and risk management. They also learn about tax implications, borrowing consequences, and various other aspects for finance management.
Human resource management:
The best BBA colleges in India offer a comprehensive curriculum that helps students understand the most pivotal aspect of a business, i.e., human capital. BBA students are taught the basic concepts of human resource management – the strategic, planned approach an organisation takes in managing its employees throughout their professional life cycles. This involves various stages of hiring, training, engagement and evaluation—as well as compensation and discipline.
The most important thing for BBA students to know about human resources management is that it’s not just about recruiting, it’s also about making sure that those people are treated fairly, with respect and dignity.
Administration and leadership:
A BBA course is meant to teach students the different concepts of management. A major part of it is administration and leadership. BBA students can improve their leadership and administration skills by studying the course material. The four primary leadership styles that they will be exposed to include:
- Autocratic: The autocratic leadership style is led by a single individual who makes all the decisions and determines the direction of an organisation. Autocratic leaders do not seek feedback or opinions from subordinates.
- Democratic: It involves gathering input from one’s subordinates and team members so that everyone feels like they have a say in making decisions.While democratic leaders make the final decisions, their approach engages others and allows them to feel invested in the outcome.
- Laissez-faire : Laissez-faire leadership is a style in which leaders empower employees and trust them to accomplish tasks without constant micromanagement. It involves giving decision-making authority and providing feedback when needed—in other words, it’s all about balance.
- Transformational: Transformational Leadership inspires all team members to work towards a common goal. This leadership style encourages personal growth while working toward achieving the organisation’s vision.
In addition to course materials, BBA students can participate in internship programs and extracurricular activities to improve their administration skills.
Marketing, advertising and public relations:
One of the most critical reputation-building activities for organisations is communication. Thus, it’s important for BBA students to understand how different types of communications serve audiences with different needs and preferences. Marketing refers to the process of promoting and selling products or services to customers, including identifying customer needs, creating offerings that meet those needs, setting prices consumers are willing to pay and publicising goods or services so that prospective clients learn about it. The basic concept of advertising is that companies pay for advertising space, such as on TV and in newspapers. Public relations provides many services beyond advertising – it also deals with crisis problems, human resource issues and government relationships.
Looking for the best BBA colleges in Kolkata?
- Explore BBA courses offered by IQ City United World School of Business (IQ City UWSB). We offer specialisations in Marketing, Human Resource Management and Finance. The BBA course curriculum is specifically designed to help students develop their communication skills, analytical skills and gain insights on latest business practices in the industry. At IQ City UWSB, we offer certification courses, namely:
- Fundamentals of Banking and Financial Services
- Fundamentals of Digital Marketing
- Fundamentals of Analytics
- Emotional Intelligence
To know more about our BBA course details and admission procedure, get in touch with us.