BUSINESS ADMINISTRATION & INTERNATIONAL BUSINESS
In the literal meaning, Business refers to an organized approach to providing customers with the goods and services they want. Business Administration has over the years taken the form of a formal field of knowledge, besides engineering medical and even closely-related Economics. In the 20th century, with the development and growth of business schools in America and Europe, the dynamics of business administration changed. With more research conducted in a professional way, Business Administration has also given birth to its branches.
Among these, International Business is one such off-shoot or part of business administration, which has seen tremendous growth in this age of internet.
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Marketing covers many areas of business which to a great extent deal with the customers. These can range from pricing the product to conducting research about consumer needs. While some of aspects of Marketing may be common in International Business, there are areas like Marketing Research which differs greatly for International Business. In International Business since the business is conducted from different lands, so the seller may not be very well acquainted with the customer. Instead his focus is different, as he is more inclined towards pushing his product to the seller and not much concerned about branding activities etc. still this is a very generic statement and may not apply for every case.
Finance in Business Administration is primarily focused on gaining profits. It may be of decision-making nature that which areas of business are more profitable and which is not. Then the finance to a greater extent is focused on the day-to-day activities of keeping cash accounts etc.
Human Resource Management is a crucial step in Business Administration, which focuses on hiring, training and retaining best manpower to carry out business activities.
Focus Areas of International Business
Once it comes to the International Business, the focus is more widened. The trading parties are concerned with far more issues than they are concerned while operating in local market. Although, Marketing, Finance and Human Resource
1. List the challenges facing Kongstrup after the collapse of the alliance with MB. How could they have prepared better for the break-up?
International Business workers are the public faces of their companies. According to the John Brown University (n.d), international business majors strategize and implement growth plans internationally. Likewise, part of their job is to manage imports and exports in multinational corporations, translate for business and
International business involves all commercial transactions between private and governmental between parties of two or more nations. Global occasions and rivalry influence practically all organizations substantial or little. However, the universal environment is more intricate and varying than an domestic domain.
The world consists of many different cultures and nationalities. International business is thriving and companies need to be
The Human Resources Management (HRM) area of business focuses on utilizing people as business resources. The HRM is
It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society which is an additional fact producing a higher standard of living. To measure our societies standard of
Human Resource Management (HRM) is the function within an association that has emphases on the employment of, administration of, and providing direction for the employees within an organization. The Human Resource Management department members deliver knowledge, training, tools, administrative services, and lawful and organization advice. The HRM department is organized by very talented managers who has a mission to make sure the rest of the business has the needs for successful operation. Human Resource Managers are directly responsible for the engagement, involvement, and productivity of their staff members. To fully integrate an organization manager have a significant role in the recruitment process of a business. Human Resource
Business administration is the association and coordination of exercises inside a business so as to accomplish characterized targets. Business administration comprises of making a corporate strategy, arranging, arranging,
Human resources management is where everything begins and ends for an individual and the organization. Meaning, it’s where total processes are created for the organization and the individual, such as; planning, forecasting, compensation, benefits, diversity, salary, decisions, ethics, records, right protection, leadership, development, and the list is endless.
Human resources management is where everything begins and ends for an individual and the organization. Consequently, it’s where total processes are created for the organization and the individual, for example: planning, forecasting, compensation, benefits, diversity, salary, decisions, ethics, records, right protection, leadership, development, and the list is infinite.
Human resource Management is the method of managing an organisation or a business and is related to employees and
Human resource management is a tool in an organization, which focuses on the recruitment, management, and giving direction to the people who work in the organization. Human resource management is a vital component, which deals with issues concerned with people. Such issues include, hiring, performance management, developmental issues, safety, staff welfare, benefits and staff motivation. An organization cannot create a group of professional working staff without better human resources (Stewart, & Brown, 2012, 65).
Human resource management is the process of managing people in organization in thorough manner and structured. This covers the fields of hiring people, par and perks setting and management, retention people and performance management. Moreover, it also
Human resources management is where everything begins and ends for an individual an organization. It’s where the total processes are created and initiated. Examples of these processes are: planning, communication, motivation, code of ethics, decisions, forecasting, total compensation, diversity, discrimination, records, rights protection, leadership, career development, training, hiring, performance appraisal, equal employment opportunity, empowerment, promotion, recruitment. Human resources management also, sets strategic processes and procedures, run difficult and complex communication as they attract the best talents for an organization.
Human resource management is an effective tool for the overall performance and survival of a business firm. Human resource is the only resource in an organization which is scarce and unstable. Human capital helps a firm to improve the performance of the firm’s assets and leads the entire firm towards attaining a sustainable competitive advantage. The human resource management function aims at increasing the skills, knowledge, abilities and experience of an employee.