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What is Business Studies?

Business Studies is the acronym for Business Administration. Business administration helps companies achieve their goals by giving them the tools they need to be successful. In this regard, it is of value that Business Studies is a broad subject that deals with the fundamentals of business success, from finance to strategy and marketing. In our Business Studies Dictionary, we will look at the impact of lobbying on our society and our political process, among other topics.

The contents and areas of Business Studies

Since Business Studies is concerned with the management of businesses and organizations, the following content and areas of Business Studies are some of the most important:

  1. Marketing: Successfully market products or services and meet customer needs
  2. Finance: Raising money, making investments and managing the company's finances
  3. People Management: Recruit, train and motivate employees to maximize their performance and satisfaction.
  4. Operations Management: Making production and delivery of products or services efficient and effective
  5. Accounting: Monitor financiaAll areas of Business Studies are interconnected and influence each other. For example, a successful marketing strategy can help the company generate more sales, which in turn means more money for investments and personnel management. Overall, Business Studies is about how to successfully run a business and how to coordinate the different aspects of the business to achieve its goals. l situation of the company and prepare reports
  6. Strategic Management: Setting Long-Term Goals for the Company and Achieving These Goals
  7. Business Ethics: Maintaining Ethical and Moral Standards in the Company and Acting Responsibly

Alle Bereiche der BWL sind miteinander verbunden und beeinflussen einander. Zum Beispiel kann eine erfolgreiche Marketingstrategie dazu beitragen, dass das Unternehmen mehr Umsatz erzielt, was wiederum mehr Geld für Investitionen und Personalmanagement bedeutet. Insgesamt geht es in der BWL darum, wie man ein Unternehmen erfolgreich führt und wie man die verschiedenen Aspekte des Unternehmens koordiniert, um seine Ziele zu erreichen.

Structure of Business Studies

In Business Studies, there are various sub-areas that deal with different aspects of business. One possible division of Business Studies is the distinction between General Business Studies and Specific Business Studies. General Business Studies deals with the basic business contexts, such as financing, production and organization of companies. Specific Business Studies, on the other hand, focuses on specific industries, such as marketing in retail or human resources management in healthcare.

Another possible division of Business Studies is the distinction between microeconomics and macroeconomics. Microeconomics deals with the decisions of companies and consumers at the individual market level, while macroeconomics looks at the overall economic relationships.

In addition, another important branch of Business Studies is Corporate Management, which deals with the planning, organization and control of companies.

Structure of Business Studies

Area Description
General Business Studies Fundamentals of business administration, such as corporate goals, decision-making, organization and leadership.
Marketing Development of marketing strategies, market research, product positioning, pricing, advertising and sales.
Finance Financial management, investment decisions, capital procurement, risk management and accounting.
Human Resources Management Recruitment, development and management of personnel, labor law, compensation and employee motivation.
Operations Management Production Planning and Control, Quality Management, Logistics and Supply Chain Management.
Business Informatics Application of information technology in business administration, such as data analysis, IT management and e-business.
International Management Management of companies in a global context, such as international business strategies, international marketing and international law.
Corporate Governance Strategic Management, Business Ethics, Corporate Governance and Sustainability.

The areas cannot be clearly distinguished from each other. All actions influence several sub-areas and cause different reactions. This is also often desired, as more sales are planned through marketing, for example, for new personnel.

General and Specific Business Studies

In Business Studies, there are both general and specific subject areas. General Business Studies deals with fundamental business issues such as the organization of companies, the financing of projects and the planning of business strategies. Specific Business Studies, on the other hand, is dedicated to more detailed topics such as marketing, human resources management or logistics. However, both areas are closely related and together form a comprehensive understanding of business administration. For example, decisions in human resources management can have an impact on a company's finances and vice versa. It is therefore important to understand both general and specific Business Studies in order to operate successfully in the business management field. It is also helpful to keep up with current developments and trends in order to stay up-to-date and gain a competitive advantage.

What is the focus of Business Studies?

As the name suggests, Business Studies is about business administration, i.e. the management of companies and organizations. The focus is on the planning, management and control of business processes. Business Studies deals with the various aspects of business management, such as finance, marketing, human resources and production. It is about how to use resources effectively to achieve the goals of the company. So, business administration is a very broad discipline that covers many different topics. If you are interested in a career in business, Business Studies is a great choice. There are many opportunities to work in this field, whether as a manager, consultant or entrepreneur. Business Studies is an exciting and challenging discipline that can help you launch and succeed in your career.

Business Sciences: Difference Business Studies / Economics

When it comes to Business Sciences, one often hears the abbreviations Business Studies and Economics. But what do they actually mean and how do they differ?

Business Studies stands for Business Administration and deals with the management and organization of companies. It deals with topics such as marketing, finance, human resources and production. Economics, on the other hand, stands for Volkswirtschaftslehre and looks at the economy as a whole. It deals with topics such as unemployment, inflation, growth and trade. So while Business Studies focuses on individual companies, Economics looks at the economy as a whole. However, both disciplines are closely linked and complement each other. Anyone interested in economics should therefore also look at the differences between Business Studies and Economics.

Example for Difference Business Studies and Economics

The analysis of unemployment could be used as an example of the difference between Business Studies and Economics.

In Business Studies, one would focus on the impact of unemployment on a particular business. One would examine how unemployment affects the demand for the firm's products or services, how production costs are affected, and how the firm can effectively use its labor force to minimize the effects of unemployment.

In economics, one would focus on the causes and effects of unemployment on the economy as a whole. One would study how unemployment affects gross domestic product, consumption, investment, and international trade. In addition, one would study how governments and international organizations such as the World Bank and the International Monetary Fund can intervene to reduce unemployment.

In short, Business Studies focuses on optimizing business processes and decisions, while Economics focuses on analyzing economic systems and processes at the national and international levels.

Difference Business Studies and Economics in short

Business Studies and Economics are two different fields of economics. These are some differences between the two:

Merkmal BWL (Betriebswirtschaftslehre) VWL (Volkswirtschaftslehre)
Definition Business Studies deals with the management of companies and organizations. Economics deals with the analysis of economic systems and processes on a national and international level.
Focus Business Studies focuses on the optimization of business processes and decisions. Economics focuses on the analysis of economic processes on a national and international level.
Perspective Business Studies looks at the economy from the perspective of companies and organizations. Economics looks at the economy from the perspective of countries and regions.
Methods Business Studies uses mainly quantitative methods such as accounting, financial analysis and statistical analysis. Economics uses mainly qualitative and quantitative methods such as modeling, simulation and statistical analysis.
Application Business Studies is applied to improve the efficiency of businesses and organizations. Economics is applied to shape economic policy at the national and international level.
Examples Marketing, finance, human resource management and operations management. Macroeconomics, microeconomics, international trade policy and economic growth.

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