Students in Business Administration programs acquire know-how in:
To learn more about aspects of the Business Administration curricula, see the topics below.
Are you moaning and feeling sorry for students who have to study economics? If so, you probably took an economics course similar to the ones I was in: lots of graphing and math. Not to worry.
Students who study economics in Business Administration courses never get to graphs. Their focus is on understanding such business concepts as profit, risk, and competition. We want students to leave our programs understanding that the actions businesses take in response to changes occurring in the business environment hinge on economic decision-making. They'll examine opportunity costs, trade-offs, incentives and other economic concepts that enhance the effectiveness of the decision-making process. Our goal is to help students acquire a practical understanding of economic activities and decision-making which occur in a free enterprise, or market, economy.
Although entrepreneurship has occurred throughout history, the attention it currently receives has ballooned due to the tough economy and environmental shifts taking place in the business world: downsizing, offshoring, mergers, global competition, and technological innovations. Entrepreneurial start-ups are expected to continue at a consistent, and at times, frantic pace.
Since more people than ever before are starting their own businesses, educational institutions, including colleges/universities, community colleges, and high schools are encouraging the study of entrepreneurship through the addition of entrepreneurship courses and majors.
Entrepreneurship has been a slippery concept to get our arms around. People define and use the term differently. Some people focus solely on development of an entrepreneurial spirit or mindset, while others approach it from an ideation standpoint. Still others incorporate small-business management strategies and techniques.
Our entrepreneurship curriculum incorporates ideation, business planning, and business operations. Examples of skills students acquire include the ability to recognize opportunities and to act on them; determination of needs, identification of markets, use of marketing research, identification of sources of capital, and management skills.
Those of us who majored in business can probably recall the first accounting classes we took: learning about posting debits and credits to various journals. Remember?
If you planned to major in accounting, that wasn't any big deal. For the business majors who planned to pursue other aspects of business, accounting was often a stumbling block.
Stumbling blocks aside, we believe that accounting is the language of business. All Business Administration students should be able to understand and interpret that language since it ultimately informs all business departments about the success of their efforts and the future of their company. We encourage all Business Administration students to acquire knowledge of financial management concepts as early as possible in their educational experiences. (We'll leave posting of debits and credits to the accountants.)
Students who want to pursue career opportunities in finance/financial services have a variety of options that they could focus on. These options include accounting, banking services, corporate finance, insurance, and securities and investments.
Kindness. Open-mindedness. Welcoming. These are all terms used in defining hospitality. Students in hospitality and tourism programs understand the importance of these characteristics and much more. They study management, marketing, and operations of their segment of the industry: lodging; restaurants and other food services; recreation, amusements, and attractions; and travel-related services.
We believe that regardless of where students go in hospitality and tourism, they need to understand business processes that undergird their industry-specific knowledge and skill. We want students to leave our programs with a realistic understanding of business, employer expectations, and desired/required attitudes.
A "business" is not limited to being for- or not-for-profit, having a brick and mortar or a virtual location, being public or private, or being large or small. Neither is it limited to organizations providing physical goods. Hospitals, attorneys' offices, and colleges are businesses. Regardless of where people are employed, they are part of the business world that is dynamic and changing.
The actions businesses take in response to the changes occurring in the business environment hinge on management's effective, efficient decision-making. Understanding how managers plan, lead, organize, and control the business's resources enhances the effectiveness of the decision-making process.
Students who leave our programs understand and can apply management concepts that impact business success.
What does marketing mean to you?
Marketing means different things to different people based on their experiences. Even professional associations don't agree on the same definition:
These definitions tell us that marketing is a process that involves a variety of activities focused on customers and profitable execution of those activities. To that end, students leave our programs understanding channel management, marketing communications (promotion), marketing research, pricing, product/service management, and selling.
Tough economic times call for tough money management. As major banks and investment companies are folding, and the stock market spirals up one day and down the next, everyone must be positioned to make wise financial decisions. Everyone should understand that their financial decisions have long-term consequences. They must be able to plan how they will obtain, keep, and grow their incomes. They need to believe that they are the masters of their own financial destinies.
Financial literacy has taken on increased importance as borrowers' spending and credit habits impact them beyond paying their monthly bills. Employers are increasingly using credit scores to make hiring decisions, while insurance companies are using the scores to determine whether to provide coverage. College students cite financial problems as their main reason for dropping out of college.
Identity theft is currently identified as the number one crime in the U.S. with approximately nine million people falling victim to it annually. Everyone needs to know what precautions to take to keep from being included in that number.
Obtaining financial literacy is especially valuable to young people, who are uniquely positioned to benefit in the long-term from wise money management. By using the time value of money to their advantage, they can meet the challenges presented by scant financial resources. With time and knowledge on their side, young people can begin to build wealth now, laying the foundation for a lifetime of informed spending, saving, and investing that carries them through to financial independence and retirement.