BBA - Business Administration 101

BACHELOR OF BUSINESS ADMINISTRATION 101

Module Guide

• Copyright © 2022 REGENT BUSINESS SCHOOL

• All rights reserved; reproduction without written permission is prohibited.

Table of Contents

INTRODUCTION TO BUSINESS ADMINISTRATION 101...

• Page 4

CHAPTER 01: Overview of the Business Environment...

• Page 8

CHAPTER 02: The Evolution of Business-Related Fields of Study and the Macro-Environment...

• Page 20

CHAPTER 03: Operating Ethically in the Internal and Market Business Environments...

• Page 39

CHAPTER 04: Making Decisions in Business...

• Page 71

APPENDIX A: Model Answers...

• Page 94

BIBLIOGRAPHY...

• Page 107

List of Figures

• Figure 1.1: Difference between business administration and business management - Page 9

• Figure 1.2: Four interdependent elements of business - Page 11

• Figure 1.3: Need-satisfying institutions in the market economy - Page 16

• Figure 1.4: Characteristics of a science - Page 17

• Figure 2.1: Evolution of management thought - Page 20

• Figure 2.2: Breakdown of the business environment - Page 21

• Figure 2.3: Breakdown of the external business environment - Page 22

• Figure 2.4: Components of the macro-environment - Page 23

• Figure 2.5: Business technology assessment - Page 25

• Figure 2.6: Components of the social environment - Page 28

• Figure 2.7: Concerns posed to the physical environment - Page 30

• Figure 3.1: Micro-environment - Page 40

• Figure 3.2: Information required by top management - Page 43

• Figure 3.3: External and internal information needs of an organisation - Page 46

• Figure 3.4: Market environment - Page 47

• Figure 4.1: Areas of business decisions - Page 73

• Figure 4.2: Steps to effective decision making - Page 74

• Figure 4.3: Cartoon on making business decisions - Page 75

• Figure 4.4: Assumptions of organisational behaviour - Page 76

• Figure 4.5: Attributes of effective processes - Page 77

• Figure 4.6: Business process categories - Page 78

• Figure 4.7: Ten core processes of a business - Page 79

• Figure 4.8: The control process - Page 80

• Figure 4.9: Example of in-depth control process - Page 87

• Figure 4.10: Types of KPIs - Page 88

• Figure 4.11: Meaningful results for a business - Page 89

List of Tables

• Table 3.1: Types of information required by middle-management in the internal business environment - Page 44

Introduction to Business Administration 101

Overview

• Welcome to the Bachelor of Business Administration programme.

• This module provides an overview of business administration and management, as well as key areas in the business environment including micro, market, and macro.

Aim of the Module

• Overview of business administration and management.

• Highlighting the importance of ethical behaviour in business.

• Overview of decision making in business.

Learning Outcomes

• Outline core areas, key terms, and theoretical concepts of the business environment.

• Describe the evolution of management and administration.

• Operate ethically in business contexts.

• Identify essential information for decision making and present solutions to business problems.

Essential Reading

Prescribed Reading

• Erasmus, B., Rudansky-Klopper, S., & Strydom, J. (2019). Introduction to Business Management - 11th Edition.

Recommended Reading

• Ferreira, J., & Groenewald, D. (2017). Business Administration. Juta.

Navigational Icons

Think Point

• Reflect on issues presented.

Tasks

• Perform tasks to gauge understanding.

Definitions

• Key definitions related to topics discussed.

Case Studies

• Real-life scenarios to illustrate concepts.

Chapter 01: Overview of the Business Environment

Chapter Outcomes

• Outline core areas, key terms, and theoretical concepts of the business environment.

Introduction

• Businesses operate within a dynamic and complex environment, influencing product/service delivery and success.

• The business environment includes both internal and external factors affecting business performance.

Core Areas

• Purpose of business: Transforming resources into products/services for profit, considering stakeholder interests.

• Stakeholders: Individuals/groups with an interest in an organization’s activities.

Key Definitions

• Business Administration: Organising personnel and resources to meet goals.

• Business Management: Coordinating and managing business affairs, including production and marketing.

Chapter 02: The Evolution of Business-Related Fields of Study and the Macro-Environment

Chapter Outcomes

• Describe the evolution of business management and administration.

Introduction

• Evolution of these fields reflects changes in business practices and strategies.

The Macro-Environment

• Elements affecting business success but not controlled by them, providing opportunities and threats.

Chapter 03: Operating Ethically in the Internal and Market Business Environments

Chapter Outcomes

• Operate ethically across different contexts of business.

Internal Business Environment

• Refers to components within the business's control that influence its strategies and performance.

Chapter 04: Making Decisions in Business

Chapter Outcomes

• Identify information needed for decision making and provide solutions to problems.

Introduction

• All levels of management (top, middle, lower) must make decisions influenced by internal and external factors.

The Decision-Making Process

• Step-by-step approach to effective decision making, focusing on strategies aligned with organizational goals.

Model Answers & Self-Assessment Questions

• Review model answers corresponding to each chapter.

Bibliography

• Extensive list of resources cited throughout the module.

BACHELOR OF BUSINESS ADMINISTRATION 101

Module Guide

Copyright © 2022 REGENT BUSINESS SCHOOL All rights reserved; reproduction without written permission is prohibited.

Table of Contents

• INTRODUCTION TO BUSINESS ADMINISTRATION 101... Page 4

• CHAPTER 01: Overview of the Business Environment... Page 8

• CHAPTER 02: The Evolution of Business-Related Fields of Study and the Macro-Environment... Page 20

• CHAPTER 03: Operating Ethically in the Internal and Market Business Environments... Page 39

• CHAPTER 04: Making Decisions in Business... Page 71

• APPENDIX A: Model Answers... Page 94

• BIBLIOGRAPHY... Page 107

List of Figures

• Figure 1.1: Difference between business administration and business management - Page 9

• Figure 1.2: Four interdependent elements of business - Page 11

• Figure 1.3: Need-satisfying institutions in the market economy - Page 16

• Figure 1.4: Characteristics of a science - Page 17

• Figure 2.1: Evolution of management thought - Page 20

• Figure 2.2: Breakdown of the business environment - Page 21

• Figure 2.3: Breakdown of the external business environment - Page 22

• Figure 2.4: Components of the macro-environment - Page 23

• Figure 2.5: Business technology assessment - Page 25

• Figure 2.6: Components of the social environment - Page 28

• Figure 2.7: Concerns posed to the physical environment - Page 30

• Figure 3.1: Micro-environment - Page 40

• Figure 3.2: Information required by top management - Page 43

• Figure 3.3: External and internal information needs of an organisation - Page 46

• Figure 3.4: Market environment - Page 47

• Figure 4.1: Areas of business decisions - Page 73

• Figure 4.2: Steps to effective decision making - Page 74

• Figure 4.3: Cartoon on making business decisions - Page 75

• Figure 4.4: Assumptions of organisational behaviour - Page 76

• Figure 4.5: Attributes of effective processes - Page 77

• Figure 4.6: Business process categories - Page 78

• Figure 4.7: Ten core processes of a business - Page 79

• Figure 4.8: The control process - Page 80

• Figure 4.9: Example of in-depth control process - Page 87

• Figure 4.10: Types of KPIs - Page 88

• Figure 4.11: Meaningful results for a business - Page 89

List of Tables

• Table 3.1: Types of information required by middle-management in the internal business environment - Page 44

Introduction to Business Administration 101

Overview

Welcome to the Bachelor of Business Administration programme at Regent Business School. This foundational module provides a comprehensive overview of fundamental principles of business administration and management, presenting essential concepts and practices that shapes the competitive landscape of businesses today. The course is designed to equip students with the necessary skills and knowledge required to navigate the complexities of business at both theoretical and practical levels.

Aim of the Module

• To give an insightful overview of business administration and management frameworks.

• To underscore the significance of ethical behaviour and corporate social responsibility in business operations.

• To provide a structured approach to decision-making processes within a business context.

Learning Outcomes

Upon successful completion of this module, students will be able to:

• Outline core areas, key terms, and theoretical concepts of the business environment, including factors influencing market dynamics, organizational structure, and stakeholder analysis.

• Describe the historical and contemporary evolution of management theories and practices, reflecting on their relevance in today’s business environment.

• Operate ethically in diverse business contexts, understanding implications for sustainability and long-term corporate survival.

• Identify essential data for effective decision making and formulate viable solutions to complex business problems, enhancing critical thinking and analytical skills.

Essential Reading

Prescribed Reading

Erasmus, B., Rudansky-Klopper, S., & Strydom, J. (2019). Introduction to Business Management - 11th Edition.

Recommended Reading

Ferreira, J., & Groenewald, D. (2017). Business Administration. Juta.

Navigational Icons

• Think Point: Reflect on pertinent issues presented within the module to enhance understanding.

• Tasks: Engage in practical tasks designed to gauge comprehension and application of subject matter.

• Definitions: Review key definitions and terminology related to topics discussed.

• Case Studies: Examine real-life scenarios to illustrate practical implications of concepts learned.

Chapter 01: Overview of the Business Environment

Chapter Outcomes

Upon completing this chapter, students will be able to:

• Outline core areas, key terms, and theoretical concepts of the business environment.

Introduction

Businesses operate within a dynamic and complex environment significantly impacting their ability to deliver products/services and achieve success. The business environment comprises both internal and external factors affecting organizational performance. Understanding these elements is crucial for effective business strategy development and adaptability.

Core Areas

• Purpose of business: Businesses aim to transform resources into products/services that fulfill consumer needs and generate profit while considering the interests of various stakeholders including customers, employees, suppliers, and society.

• Stakeholders: Stakeholders are individuals or groups that have a vested interest in an organization’s activities, decisions, and overall performance. Engaging stakeholders is vital for sustained business growth and transparency.

Key Definitions

• Business Administration: The systematic organization and management of personnel and resources to achieve certain established goals efficiently.

• Business Management: The dynamic coordination and oversight of various business affairs, including but not limited to production, marketing, finance, and human resources.

Chapter 02: The Evolution of Business-Related Fields of Study and the Macro-Environment

Chapter Outcomes

• Describe the evolution of business management and administration over time, highlighting key milestones.

Introduction

The evolution of business-related fields reflects historical shifts in business practices, technological advancements, and changing consumer behavior. Understanding this evolution provides critical insights into current management strategies and administrative practices.

The Macro-Environment

The macro-environment encompasses various external elements that influence business success but are typically beyond the control of an organization. These elements provide both opportunities and threats that require strategic adaptation and response.

Chapter 03: Operating Ethically in the Internal and Market Business Environments

Chapter Outcomes

• Develop the ability to operate ethically and responsibly across different contexts in business.

Internal Business Environment

This pertains to components within a business’s control, such as organizational culture, internal processes, and human resources, which directly influence strategies and performance measurements. A strong ethical groundwork within the internal environment fosters a positive organizational reputation and sustainable practices.

Chapter 04: Making Decisions in Business

Chapter Outcomes

• Identify and analyze information needed for making informed business decisions and propose effective solutions to business challenges.

Introduction

Effective decision-making is fundamental to management success at all levels (top, middle, and lower). Managers must navigate a landscape filled with internal and external factors that impact business operations and strategic direction.

The Decision-Making Process

A systematic, step-by-step approach to decision making is essential for deriving effective decisions. This process includes problem identification, information gathering, evaluating alternatives