Systems Approach to Modern Business Administration
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Abstract
Using Systems Approach, this article aims to provide a guideline that helps explain
all aspects of modern business administration. Business administration is a field of study in social sciences that mostly investigates conceptual variables which are intangible ideal. In order to eliminate this limitation, the presentation in this article includes much clarification by using measurable variables and mathematical equations to make the understanding of these abstract conceptions more concrete. Based on the systems approach, business administration consists of six key components: employees, suppliers, financiers, firms, customers, and governments linking together as a system seeking the same target. Thus, those who deal with business administration have to understand the system as a whole while all of the components continually interact. However, business administration contains several conceptual variables such as human capital, supply chain, branding, and corruption. Firms’ value can be increased by considering both tangible and intangible variables as a system.
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