Financial economics, areas of business administration

 Business Management

Business Management is defined as the activities that are applied within the work environment of the institution, and it aims to coordinate and organize the work until the final results are reached. Business administration is also defined as the supervision of activities and projects for their implementation by relying on correct implementation methods. [1] Business administration is also known as the means used to direct, evaluate, and motivate individuals to achieve the desired business. [2] Another definition of business management is the methods and actions that managers use to address managerial processes that aim to achieve control over them in a way that ensures the success of the business environment. [3]

Areas of business administration

Business administration is one of the jobs that the labor market needs a lot, and according to the economic need in the various business sectors, which contributes to the development of management tools. Therefore, reliance is placed on a group of business administration areas, the most important of which are:

Financial Control Department: One of the most important areas of business management depends on the necessity of following up on financial reports related to work, which contributes to supporting the control function in order to follow up on investments, their results, and their impact on the financial budget.

Information management: It is the functional and technological field that depends on managing business information, through computers and electronic databases, which are easy to store, retrieve, transfer, and deal with.

Operational operations management: is the supervision of the implementation of special operations in the main operational and administrative activities that include buying and selling, human resources, and other administrative departments.

Sustainability Control Department: is the department that aims to maintain the sustainability of implementing strategies in the company. It maintains the implementation of administrative programs that help in developing the work continuously.

Operations management: It is the department that supervises special operations in all functional departments. It follows the formulation of administrative policies and processes that occur on a daily basis, plans to follow up on human resources, coordinates the recruitment and appointment of new employees, and contributes to supporting the management of projects and responsibilities of the executive management.

Business ethics

Business administration depends on the understanding and awareness of a set of business ethics, which is defined as the moral obligation of employees in all principles and job rules within the work environment, and ethical issues differ between enterprises according to the nature of the work they provide. There are some reasons that support the application of business ethics in organizations, the most important of which are: [5]

Preference to deal with ethical institutions: All suppliers, clients and customers prefer to deal with institutions that are characterized by their ethical nature. Especially those that preserve the application of professional rules in the work environment; Either while employees interact with each other, or with the surrounding environment.

Impact on the establishments ’ability to attract more clients: When the institution’s reputation is good in the business market, depending on the interest of the management supervising it in supporting ethical direction at work. This contributes to attracting more customers to deal with the institution.

Promoting cooperation and good dealing among employees: business ethics contribute to maintaining the stability of the work environment, and ensuring decency in behavior among colleagues in the institution as a single unit, or in its various departments; Studies indicate that between one and three employees give up their jobs due to lack of commitment to implementing business ethics.

Supporting harmony between the institution and the surrounding social environment: it is necessary for society to be satisfied with the institution’s work, which is strengthened through the employees ’awareness of the community’s components. Specifically, those who come from different societies, such as other countries, which may differ

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