Specializations in Business Administration Programs

A business degree enables one to specialize in various fields, such as finance or entrepreneurship.

Here is what you need to know about the 10 most common specializations in business administration.

Business Administration Specializations

If you are a business administration student, consider these specializations to advance your business career.

1. Accounting

The first specialty is accounting. Accounting is more than just the one that does the taxes.

While filing taxes is a part of the field, there is also keeping track of the business' profits and losses.

Accountants are responsible for maintaining the company's budgets, preparing financial reports, and handling payroll.

While in school, you will learn the tips and tricks of maintaining a company's money.

Accounting is perfect for individuals who like numbers and reports.

2. Business Management

This is considered the foundation of business. This area teaches students the backend of firms. Business managers train staff, maintain schedules, handle customer complaints, and supervise employees.

This specialization gives individuals the tools to think critically under pressure and make crucial decisions for the company with a clear and rational thought process.

A student will also learn about other business specialties in an effort for them to work as a team and understand the support needs of their co-workers.

3. Entrepreneurship

If you want to be a boss, entrepreneurship is the major for you. People aiming to start their own business typically focus on this area of business administration.

Students will learn the real-world issues and concerns that come with business ownership. Business law, budgeting, leadership, management, and organizational strategies are on the menu for this specialization.

Students will also learn how to choose products and services, find and secure funding, and present their ideas to potential investors and stakeholders.

4. Finance

Finance professionals focus on investments, capital planning, and financial analysis. In this specialization, students will obtain the tools to connect the dots between financial concepts and their function in global markets.

Some coursework will focus on solving problems in the business environment by using quantitative tools. Other coursework includes how finance works with marketing, management, and promotions.

5. Healthcare Administration

This is an area of business for individuals who want to help people in the healthcare system. Students will learn how to manage and impact the healthcare system.

They are taught how to ensure compliance with standards, patient care, clinicians, and staff to ensure the hospital's financial success. It is vital to note that most healthcare administrators must have a master's degree.

6. Human Resources

Almost every industry needs a human resource professional. Human resources handles employee relations. Employee relations not only focuses on interactions and conflict resolutions but also on training and hiring staff.

Human resource professionals will need to learn about hiring laws, how promotions work within the company, and discrimination.

Students will also learn how to post adverts for open positions, select and interview applicants, and establish performance standards for each company position.

7. International Business

If you enjoy travel and business, this is a career option for you. An international business specialization explores how international trade, policies, financials, and marketing affect businesses.

Students will also learn how to adapt marketing strategies for international markets, construct management practices and processes in an international environment, and recognize global differences while managing operations and production worldwide.

Typically, students in this area also learn a foreign language to aid them in their studies and professional future.

This program allows classmates to acquire skills, gain cultural knowledge, and expand their networks while studying abroad.

8. Marketing

Acting as the liaison between business and consumers, marketers are a vital part of any business.

Before becoming professionals, students learn brand management, communication skills, consumer behaviors, marketing strategies, sales, and more.

This business area promotes and advertises a company's goods and services while also gaining an understanding of supply and demand, increasing market shares, and maximizing business profits.

A marketer must also be able to determine pricing, target audiences, and how to attract them.

9. Operations Management

Armed with the task of balancing costs with revenue to maximize net operating profits, operations managers assist with the flow of the company and its funds.

The main concern of operations managers is to ensure maximum profit through the conversion of materials and labor into goods and services.

The coursework will teach real-world factors that affect the business's overall success. These factors include, but are not limited to, cost control, supply chains, and drivers.

10. Project Management

Project management is interdisciplinary, involving deadline-driven planning, overseeing, and developing successful outcomes.

Students will be taught how to develop, implement, and manage projects in various settings, including health care, government, space, engineering, and more.

This area of business helps students build their technical and interpersonal skills by teaching decision-making, planning, team building, report writing, and task monitoring.

After graduation, students will be prepared to gain certifications to become a Certified Project Manager (CPM).

Find A Business Administration Degree With A Specialization

Find an exemplary program now that you know about the 10 most common business administration specializations. There are many programs online and traditional to enroll and jump-start your business dreams.