Business Administration is concerned with understanding how best to manage a business, in order to maintain its growth and stability over time. Business administration is the ultimate responsibility of the Chief Executive Officer (CEO) of a company, although CEOs are normally assisted in this regard by a staff of business support professionals and managers. Effective Business Administration is therefore crucial to the success of any commercial undertaking, and is the central function within the leadership of an organisation. Because of this, there was a significant degree of demand for a scientific approach to management; to meet this demand, the Masters of Business Administration (MBA) was created. The MBA has become a popular form of degree with business schools around the world, and various accreditation bodies have been set up to ensure consistency and quality. An MBA is a professional qualification that provides a wide-ranging syllabus that includes elements of statistics, finance, marketing, human resources, accounting, operations, and commercial strategy. The aim is to prepare students for taking on managerial positions, particularly within private sector organisations.