Business administration is the process of managing every aspect of a business in order for it to maintain its operations, growth or stability, based on the overall goal of the owner or owners. Most companies have a dedicated administrator who works to protect a company from its creditors and he restructures it.
Additionally, the administrator can control a company while recovering money from all the creditors. However, the administrator must consider the needs of all the creditors not just the largest creditors. When it comes to advantages, creditors benefit because the administrator works to maximize the repayment of their debts by allowing the company to continue trading. Employees are benefited because some of them will keep their jobs if operations take place. When required, directors and banks are often allowed to appoint an administrator.
