What business involves
Students in the Faculty of Business Administration's BBA program are exposed to the foundations of business that will help them develop the knowledge and practical skills to meet the challenges of the fast-paced world of business. Combined, the business subjects they study equip students with the tools they will need throughout their careers to solve problems, exercise judgement, make decisions, and take responsibility. During their course of study in the BBA program, students will take a combination of required and elective business courses in the following subjects:
Accounting
Accounting or the real "language of
business" is all about information and providing the information to those who
need it. Primarily it involves the recording, interpreting and reporting of
economic data of an organization. The data that accountants provide is
essential to users such as managers, investors, and other groups. It tells them
how well a company is doing, how it is allocating its resources, and what the
effects of different courses of action may be. The data also gives a reliable
indication of how well a company may do in the future, and provides a level of
assurance to investors. Reliability is the key to making sound decisions, and
thus accounting is immensely important for keeping the world in proper economic
order.
Business Communications
Communication is probably the single
most important aspect of business. In order to do business you need to
communicate with others, either locally or internationally. It is extremely important
that you are able to convey your message clearly and unambiguously. Failure to properly convey your message can
result in communication breakdown, which translates into wasted time, effort
and missed opportunity. This can lead to huge implications for your
organization.
Business Law
Knowing the law is a business asset. Knowledge of the law can help protect you
and prevent problems from arising. A defense of "I wasn't aware it was against
the law" or "I didn't know" cannot protect you. It is important to stay up to
date on the law, because every decision can change the way your business thrives.
Another benefit of being familiar with the law is that it can help you take
advantage of opportunities and resolve disputes.
Entrepreneurship
Entrepreneurship is all about recognizing opportunities, and taking advantage
of them. A real entrepreneur will search for opportunities, make a business
plan and then implement it. Sometimes there is a lot of risk involved in
creating your own business; entrepreneurship courses will also equip you with the skills to assess risks and make business decisions. This is why many business owners look for employees with entrepreneurial skills. Whether you work for yourself or for an existing business, entrepreneurial skills are a valuable tool for anyone who wants a career in business.
Finance
Finance centers on the basic principles
of the business world and deals with how individuals or businesses use their
resources over time. It is about finding the most effective way to use
the money you have, the money you'll make, and the money you'll spend. Studying
finance will help you with many important aspects of business, such as
investment decisions. Knowledge of finance will tell you what investment opportunities will earn you the
most money and how you can maximize your profit.
Human Resources Management
Human Resources (HR) is all about people, specifically, employees. The primary
concern of HR is to handle employee relations, contracts, performance reviews,
benefits, and pension plans, among other things. HR is also responsible for
developing and enforcing the rules of an organization. They establish the
workplace ethics, code of conduct, employee handbooks/training programs, and
reward programs. Having a strategic HR department in today's business world is
key to ensuring success because it boosts the efficiency and morale of
employees, as well as limits job turnover.
Industrial Relations
Industrial Relations (IR) is related to Human Resources. They are both about
people, specifically employees. It involves handling employee conflicts and
establishing rules, but from a more "external" perspective than HR. IR's
primary focus is on improving relationships between labour and management by
providing neutral third-party support.
Management Information Systems
Technology is the back bone to a business's communications and transactions;
this is why the study of MIS is so important. MIS focuses on the integration of
computers with the aim and objectives of an organization. One major field of
MIS is strategic support. This involves using computers and information
technology to transform otherwise worthless data into invaluable reports that
identify patterns and trends. All of this helps managers to understand the
effects of different strategies and make informed decisions.
Marketing
Marketing is a huge industry. The average person will see at least 3,000
advertisements every day. You've probably seen over 100 today before you visited this Website. Marketing is challenging and exciting. The responsibilities of
a marketer are usually extremely varied, depending on the type of organization
and what you're trying to promote or sell. The main aspects of marketing
include areas such as public relations, advertising, promotions, product
development and pricing, distribution, and many more.
Organizational Behaviour
Organizational Behaviour's (OB) main focus is
on how people, individuals and groups, interact in an organization. OB borrows a lot from psychology and sociology. It
involves analysing people on an individual basis, a group's dynamics (how well
people work together), and the organization's dynamics (its culture and
structure). The main purpose is to
determine the factors that influence people so that we can help organizations
achieve their mission by increasing performance and efficiency. It is closely
related to human resources, because it helps HR practitioners select and train
the most appropriate individuals for the job.
Organization Theory
Organizational Theory (OT) is all about how an organization functions. Studying OT will allow you to have a more
in-depth view of how an organization operates, giving you insights on how you
can make it more efficient. What you learn from OT can be applied to every
aspect of business, including marketing, accounting, finance, human resources,
and strategy.
Quantitative Methods
Quantitative Methods is the mathematical side of business. It involves
calculating and graphically presenting statistical data so that it can be used
by management to make important business decisions. It is extremely important
for finding relationships in data and interpreting it correctly.
Strategy
Strategy is all about identifying a company's core values and vision, and
developing a mission to achieve short term and long term goals. A company's
strategic plan identifies how an organization will use its tools and resources
to achieve its mission and goals within a competitive environment. It involves
mixing the different areas of business into one (this includes marketing,
accounting, finance, HR, and more). Once you combine them all into one specific
strategic plan, you can use it to move your organization forward.
