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Murdoch is absolutely right in his assessment. Business administration is an extensive field of study that evolves with time and students need to keep pace with the fast changing business and marketing concepts. MBA, by definition, is the course of managing a business or non-profit organization, incorporating many types of management positions. Business administration encompasses a number of areas ranging from operations and management. There are some universal standard roles that business administrators carry out that include planning, organizing, staffing, directing, controlling and budgeting.
Outline of MBA Course
The MBA course is designed in such a manner that the students can become capable of playing administrative roles in the corporate hierarchy. This master degree course gives you the opportunity to learn the basics of business, marketing, economics, finance and accounting.
Generally, MBA programs are outlined based on the core subjects that the students have to take up at the beginning of the course. The first part of the program is designed to help the students understand the analytical tools necessary for key management functions as well as working knowledge of those functions.
The basics of accounting
With accounting, MBA students interpret, analyze and use management accounting information in a business environment like manufacturing service or public sector. Accounting in MBA helps you understand the concept of cost accounting, managerial accounting, and financial accounting.