The skills and abilities of the business administrator

The skills and abilities of the business administrator

The business administrator is a professional characterized by competencies and skills that allow him to perform in a wide field of action and the possibilities he has to continue training academically in different fields.

In times of uncertainty, some professions have come out, not only ahead, but strengthened and with better possibilities of job projection than before. However, external factors are not enough to turn opportunities into concrete successes.

According to PayScale, an American software and data company, the annual salary of a business administrator in the United States averages $55,000. Those holding positions as financial analysts, with a range of experience between five and nine years, can reach $67,000 a year.

The figures for business administrators are even more encouraging if you take into account those published by the United States Census Bureau, which show how a record in the creation of new companies was broken in the third quarter of 2020. The number of companies created had an increase of 77.4% between July and September compared to the quarter between April and June of the same year.

Returning to the premise mentioned at the beginning of this article, the development of skills will allow a better use of the opportunities that the market offers. For this, it is also necessary to know the essential skills and abilities in a business administrator:

• Problem-solving capacity: Given the multiple obligations of a business administrator, the professional must be aware that he will face all kinds of obstacles in the projects he is responsible for. Stoicism and intelligence will be fundamental skills to overcome them without trauma.
• Leadership: Pablo Ruiz Palomino, associate professor at the University of Castilla-La Mancha (Spain), points out that leadership “consists of influencing and directing others so that they are motivated and ready to do what is asked of them.” This competence allows for proper group management and, above all, enhances the work strengths of each of its members.
• Strategic thinking: The business administrator must have the ability to organize, plan and make decisions in order to achieve the proposed goals. Likewise, an analytical capacity will be important to visualize the causes and consequences of these decisions in the short, medium and long term.
• Negotiation skills: The finances of a company is one of the great responsibilities of an administrator. A large part of his performance will be evaluated according to the financial results that he shows during his tenure. For this reason, negotiating skills will be key to standing out in the job market.