Management

Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. ERP is usually referred to as a category of business-management software — typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from these many business activities. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders. Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. ERP is usually referred to as a category of business-management software — typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from these many business activities. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders.

A Master of Science in Business Analytics (MSBA) is an interdisciplinary STEM graduate professional degree that blends concepts from data science, computer science, statistics, business intelligence, and information theory geared towards commercial applications. Students generally come from a variety of backgrounds including computer science, engineering, mathematics, economics, and business. University programs mandate coding proficiency in at least one language. The languages most commonly used include R, Python, SAS, and SQL. Applicants generally have technical proficiency before starting the program. Analytics concentrations in MBA programs are less technical and focus on developing working knowledge of statistical applications rather than proficiency. Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods. Business analytics can be used to leverage prescriptive analytics towards automation. A Master of Science in Business Analytics (MSBA) is an interdisciplinary STEM graduate professional degree that blends concepts from data science, computer science, statistics, business intelligence, and information theory geared towards commercial applications. Students generally come from a variety of backgrounds including computer science, engineering, mathematics, economics, and business. University programs mandate coding proficiency in at least one language. The languages most commonly used include R, Python, SAS, and SQL. Applicants generally have technical proficiency before starting the program. Analytics concentrations in MBA programs are less technical and focus on developing working knowledge of statistical applications rather than proficiency. Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods. Business analytics can be used to leverage prescriptive analytics towards automation.

The Bachelor of Commerce degree is designed to provide students with a wide range of managerial skills, while building competence in a particular area of business (see aside). Most universities, therefore, plan the degree such that in addition to their major, students are exposed to general business principles, taking courses in accounting, finance, business management, human resources, marketing, and economics; some programs also require (business) statistics, (introductory) calculus and information systems. Depending on the institution, a formal academic major may or may not be established. Regardless, a Bachelor of Commerce degree requires students to take the majority of their courses in business-related subjects, including the aside, among others. The Honours Bachelor of Commerce degree often serves as an abridgement (or entry requirement) between the undergraduate program and postgraduate programs, including the Master of Commerce (M.Com. or M.Comm.) and the Master of Business Administration (MBA) degrees. The Bachelor of Commerce degree is designed to provide students with a wide range of managerial skills, while building competence in a particular area of business (see aside). Most universities, therefore, plan the degree such that in addition to their major, students are exposed to general business principles, taking courses in accounting, finance, business management, human resources, marketing, and economics; some programs also require (business) statistics, (introductory) calculus and information systems. Depending on the institution, a formal academic major may or may not be established. Regardless, a Bachelor of Commerce degree requires students to take the majority of their courses in business-related subjects, including the aside, among others. The Honours Bachelor of Commerce degree often serves as an abridgement (or entry requirement) between the undergraduate program and postgraduate programs, including the Master of Commerce (M.Com. or M.Comm.) and the Master of Business Administration (MBA) degrees.

The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about sixty credits, nearly twice the number of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management. The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations. The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about sixty credits, nearly twice the number of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management. The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.