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business administrator

What does a Business Administrator do?

The Role of a Business Administrator

Business administration is a broad field that encompasses a wide range of business management careers. Whether a company conducts business on an international level or is a local, independently owned start-up, it needs business administrators to ensure its long-term success.

business administrator

A business administrator is trained to handle the day-to-day issues that arise in a business. They may oversee a variety of responsibilities, including:

  • Establishing and executing goals, procedures and policies
  • Providing direction and oversight for financial and budgetary issues
  • Overseeing the processes that are involved in providing the company’s goods or services
  • Helping their workplace improve by implementing new procedures
  • Analyzing performance indicators
  • Identifying areas that can be eliminated to reduce costs and promote efficiency

Business administrators play an essential role in a number of different industries, including retail sales, hospitality and operations management. Business administrators fill a variety of roles and are an essential part in ensuring the productivity and success of an organization.

What Career Paths Are Available?

There are a large number of career paths available for business administrators. Many business administrators work in retail sales or direct sales. In addition to this, they may also work as project assistants, managers in an office environment, or as support specialists in technology industries. Business administrators play a role in federal, private and non-profit companies. Successful entrepreneurs often have a background in business administration, as their experience in developing organization and management skills are essential in starting a small business.

How Can I Become A Business Administrator?

Obtaining a college degree is the first step you will take in your pursuit of a career in business administration. An associate’s degree in business will equip you for an entry level position. A bachelor’s degree will help you advance your knowledge in management skills and techniques, organizational leadership, and strategic planning. With a bachelor’s degree in business, you will immediately be qualified for a variety of careers pertaining to business administration. Some professionals continue in their education and obtain a Master in Business Administration (MBA). This highly respected degree typically takes one to two years of additional coursework to obtain.

What does a Business Analyst do?

Business Analysts provide the much needed logistical core of many technological and service related industries. Business Analysts often are responsible for the collection and analysis of data. This can include information on customers, potential and established markets, products and services, financial regulations and products, and training or business needs. A Business Analyst will then review the data for trends, opportunities, advantages, and areas for improvement and translate this information into a readable format, often for the upper level management of a corporation. This information allows business leaders to make educated and informed business decisions.

business analyst

The recent economic climate has greatly increased the demand for Business Analysts, as companies often utilize consultants or employees in this role to analyze business processes for areas where technology may allow for a streamlining of a process or a cost savings. As demand increases for businesses to operate more “lean”, complex analysis is required to determine areas of a businesses supply chain, production, or delivery methods that may show potential for reduction.

Business Analysts must have excellent communication skills and must be able to concisely deliver complex information both verbally and written in a method laypeople can understand. Leadership skills are needed, as this position may require the questioning of established procedure and necessitates a personality able to pursue the answers to difficult questions. Experience in cost-benefit analysis and computer modeling are often an asset in this position. IT departments are the most common focus for Business Analysts, so knowledge of networking, communication, and software is often required. The ability to work within a team is also helpful, as many businesses are now choosing to utilize project teams to analyze production and supply concerns.

Most Business Analysts obtain an MBA (Masters of Business Administration). This is the most common credential sought by employers. However, some analysts may hold degrees in specific areas of study and specialize in those areas. Finance and International Business are two other common areas of study for Business Analysts. Masters degrees are preferred by hiring organizations, though individuals with four year degrees that have applicable experience and a background of success may also be considered for hire.

What does a Business Broker do?

Business brokers, also call intermediaries, are responsible for helping buyers and sellers successfully and legally navigate the buying and selling of a business. They help a prospective buyer identify the type of business they are looking for, find businesses available, analyze the business available for sale, and they help them obtain the necessary qualifications for buying a business. A business broker working for a seller is responsible for helping ready the business for sale, determining the monetary value of the company, developing a marketing plan and preparing the necessary documentation of the marketing plan. In addition to this, a business broker assembles a team of qualified agents to assist them in the buying or selling process, negotiates details, manages paperwork and facilitates closing activities. In short, a business broker is to the selling of a business what a real estate broker is to the selling of a property.

business broker

Is a Career In Business Brokerage Right For Me?

Successful business brokers have the social skills to identify with and relate to the buyer or seller of a business. They are highly organized and have experience in navigating the intricacies of buying or selling a business. They are self-motivated and possess excellent time management skills. An experienced business broker understands that they will face rejection on a day-to-day basis, but that with perseverence, their hard work will pay off.

How Can I Become A Business Broker?

The qualifications for becoming a business broker vary widely by state. Many states require a state-issued license to work as a business broker. There are a variety of rules in regards to recognizing licenses across state lines.

Obtaining a license to become a business broker generally involves receiving classroom instruction, acquiring a certain amount certified experience and demonstrating a commitment to continuing education and pursuing re-certification when necessary. Background checks are generally performed, and fingerprinting checks are standard practice.

Summary

Business brokerage is an exciting career that, though challenging, is fairly simple to enter in to. With the right skills and training, you can enter into this interesting career with ease.