Business Management

business managemnt

In most countries , charismatic business managers are very popular people who spark optimism with everyone around them, know everything and everything about business, immediately make the right decisions, relying solely on their intuition and luck.

But there are only a few such geniuses in the world. How do everyone else succeed? They think! A good manager constantly asks himself questions about why something is going wrong, thinks and finds answers.

Business management is a professional activity that includes a wide range of tasks: from setting goals for a business organization and choosing ways to achieve it, to provide the necessary motivation for employees, accounting, analysis and evaluation of results. In other words, it refers to the work of researching and creating a management organization and operating it. This is done by both managers who have subordinates and employees (specialists) of the divisions of the company’s management apparatus — marketing, sales, personnel, strategic development, etc.

Anyone who sees himself in the future as a project manager, organizations in various fields of activity, who plans to create his own business will also be engaged in management. To improve business efficiency and simplify management decisions, business management systems have been developed .

Management activity requires talent and practice, but a systematic education in the field of management develops abilities and creates a good basis for understanding the experience gained during work in the organization. It is impossible to get such an education independently from books: an academic mentor and group project work are required.

Effective business management is nothing more than the ability to answer 3 simple questions:

1.What needs to be changed?

2.What to change?

3.How to achieve change?

Elements of Business Management

Planning

Planning is the process of setting a company’s goals and determining how to achieve them. The first step for business management that needs to be decided for every organization, not just a company, is the organization’s goal setting. Running an organization without goals is like navigating without having to decide where to go. Once a goal is set, you need to decide specifically how to take that goal.

For example, to set goals in professional football teams, it is necessary to first collect various data and to understand the environment inside and outside. As a result, it is assumed that the goal of this year’s game is to make it to the top four and win next year to double the current paying crowd. To achieve that goal, the football team’s top management needs to develop a long-term strategy and decide what to do in each sector.

Organization

Organization is the process of determining the roles that members of an organization play in order to achieve its goals. In the organizing process, you first decide on the tasks to be performed and then assign people to take care of them. In the process of deciding on a job, it determines the specific work required within the organization, and who is responsible for the work and how it relates to other work.

For example, if a football team decided that the role of personnel manager would be the selection and management of players, that would be an organizational process. In this way, when the work area of ​​the personnel management officer is determined, the arrangement of personnel who decides who will take the work is also required.

Read Also: How to Write a Great Business Plan

Command

Directing is the process of influencing the behavior of members of an organization to achieve its goals. At the core of every organization is people, and managers are responsible for the command functions that integrate human resources to achieve their goals. Directing encourages members to work hard to achieve their goals, motivates them, and promotes good communication. In addition, if there are disagreements or conflicts between members, they should be reconciled. Motivation is the process of encouraging members to work towards achieving organizational goals. Promotions, salaries, and bonuses are used as a means of motivating.

The manager of the football team should motivate all members, including players, coaches and administrative personnel, to act to achieve the organization’s goals. For example, promising to pay bonuses to all members when a goal is achieved is a means of incentive. The manager may have meals with the players to listen to the members ‘opinions, and adjust the problem areas by listening to the players’ complaints.

Control

Control is the process of measuring organizational performance, comparing it to goals, and modifying management practices and careers based on them. This process is necessary because everything is not going as expected. The manager will immediately correct any deviation from the desired direction. The data presented here is important information in the planning process below.

The manager of the football team checks the results of each day’s matches and the number of paid spectators. The results of the match are as expected, but if the number of spectators entering is not as expected, the reasons are given and the necessary modifications are made during each phase of planning, organizing and commanding. If the cause is poor promotion of the game schedule, you can reinforce the public relations staff and change the means of promotion.