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NLU Business Administration Trends

Business Administration Trends

In today's digital age, few things impact business administration trends as much as the Internet. As the Internet continues to shape and change the way we do business, the role of business administrators will continue to grow and evolve. The digitalization of business means that activities that used to take place offline, like creating a business plan and collaborating with colleagues, now take place on the Web., affording businesses more efficient ways to accomplish tasks and meet goals. Business administrators need to stay current on software, apps and tools to plan and communicate more effectively.  

Online Business Plans

A comprehensive business plan is one of a company's most valuable assets. It acts as a roadmap for growing and expanding the business, sets specific goals and milestones for measuring success, and can be used to help attract investors and secure business funding.1 A good business plan includes specific sections that highlight various aspects of the business, such as an executive summary, company description, market analysis, financial projections and more.2

With digital business plan builders and templates readily available online, creating a business plan has become easier than ever. Online business plan tools make it simple to build a customized business plan by providing a step-by-step walkthrough of each section, as well as examples and templates business owners can use to build a business plan quickly and easily.


Collaboration has always been an essential part of business, and just as with business plan creation, collaboration has also taken to the Internet. Online collaboration technology falls into two general categories: synchronous and asynchronous.

Synchronous technology refers to real-time collaboration tools, such as web conferencing and instant messaging. These allow people to collaborate in real time, regardless of where in the world they happen to be. Asynchronous technology includes solutions that allow people to work together over a period of time, such as email, streaming video and online workspaces.3 Tools like these allow people to collaborate on projects on their own time, as schedules permit. Businesses that can find an effective balance between synchronous and asynchronous collaboration technology can empower their employees to work anywhere, anytime. This not only increases productivity, but also improves communication, job satisfaction and employee loyalty.

The increasingly global nature of business demands that administrators be able to collaborate with diverse groups of people from different cultural backgrounds, making global competence essential for any business administrator. By embracing digital collaboration trends, savvy business administrators can stay ahead of the curve and adapt to the constantly changing business landscape.

Source References [+]
  1. Berry, Tim. "15 Reasons You Need a Business Plan." 12 March 2006.
  2. "7 Essential Sections of a Business Plan." 24 Sept. 2009.
  3. Jones, Boland. "2015 Collaboration Trends That Every Entrepreneur Needs to Know." 18 Dec. 2014.

    NLU’s Chicago campus on South Michigan Avenue occupies five floors of the historic Peoples Gas Building. This landmark building, across the street from the Art Institute of Chicago and Grant Park, is easily accessible by train, bus and car and is surrounded by restaurants, parking lots/garages and shops.

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