Business administration encompasses the comprehensive oversight and management of an organization's operations, focusing on efficiently organizing people and resources to achieve common goals. Pioneering management theorist Henri Fayol (1841–1925) outlined five essential functions: planning, organizing, commanding, coordinating, and controlling, underscoring their importance for proper resource utilization. Effective business managers require diverse skills like strategic thinking, leadership, problem-solving, and communication, alongside the ability to balance stakeholder interests and motivate employees.
Academic pathways, such as the Bachelor of Business Administration (BBA), provide foundational knowledge in various company functions and develop practical decision-making skills. For advanced specialization, the Master of Business Administration (MBA), which originated in the early-20th century United States, offers a strategic focus on management across areas like finance and marketing. These degrees equip professionals to lead and grow organizations effectively in a competitive world.