Business administration is the management of all aspects of a business's performance, decisions, and organization. It includes the day to day operations, aspects of the business including finances and human resources, and ensures the company stays aligned to the goal or mission.
Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.
Skills management is the practice of understanding, developing and deploying people and their skills. Well-implemented skills management should identify the skills that job roles require, the skills of individual employees, and any gap between the two. To be most useful, skills management must be an ongoing process, where individuals assess and update their recorded skill sets regularly.
Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These risks stem from a variety of sources including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.
A business strategy is the combination of all the decisions taken and actions performed by the business to accomplish business goals and to secure a competitive position in the market. With the increase in the competition, the importance of business strategy is becoming apparent and there’s a huge increase in the types of business strategies used by the businesses.
Business education is a branch of education that involves teaching the skills and operations of the business industry. This field of education occurs at multiple levels, including secondary and higher education institutes. Education in business has many forms, mainly occurring within a classroom of a school. Internships are also another way to receive this type of education.
Decision Sciences is a collaborative approach involving mathematical formulae, business tactics, technological applications and behavioural sciences to help senior management make data driven decisions. With rapid advancements in technology and innovation across different sectors, adopting decision sciences will prove to be fruitful for gaining clarity in complex situations.
Business economics is a field of applied economics that studies the financial, organizational, market-related, and environmental issues faced by corporations. Business economics assesses certain factors impacting corporations-business organization, management, expansion, and strategy-using economic theory and quantitative methods.
Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states. Business analytics includes data mining, predictive analytics, applied analytics and statistics, and is delivered as an application suitable for a business user.
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.
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