A Guide to Business Management & Explain its main purpose (Marketing Management) - Atiya Shakira

Business management

Business Administration is managing the coordination and organization of business activities. This typically comprise the production of materials, money, and machines & involves both innovation and marketing. Management is in charge of planning, organizing, directing and controlling the business's resource’s, so they can meet the objectives of the policy. Managers and directors have the responsibility and power to look over an enterprise and make decisions. The administration volume can be anything from a single person in an organization to thousands of managers in companies that are in different nations. In higher organizations, the policy is defined by the board of directors and then carried out by the CEO, or chief executive officer.  Many people opine the best way to evaluate a company's future and current worth depends on the experience and quality of the managers. The score of management is to get people together to achieve the same desired objectives and goals by using the resources that are available in an effective and efficient way. BMS is an instrument set that's used for tactical implementation and strategic planning of practices, processes, policies, guidelines, and procedures to use in the deployment, execution & progress of business tactical & plans, as well as any associated management activities. They gather a foundation for both tactical and strategic business decisions when it comes to current processes, tasks, activities, and procedures with the goal of meeting all objectives a society has and satisfying the customer expectations and needs. There are some types of management that are common, including democratic, autocratic, paternalistic, and laissez-faire. Representative management style is used when employees are able to give feedback or input on business decisions. Autocratic Adminstration lets the business owner be the person in charge of making all decisions and leading the company through the business environment. When the best work environment possible is created for each employee, it's known as paternalistic management. Conventional management is a hierarchy of employees, with low, mid, and senior-level management. The Head of department creates expectations for the goals employees need to make. 

Keywords:

• Business & management

• MBA

• Business strategy

• Administration Salary

• Business management consultant

• Small business management career

• Business management Marketing 

Basic Function of  Management:

There are four basic tasks of management are planning, organizing, leading and controlling. These task work together in the creation, execution and realization of organizational goals. The four basic functions of management can be considered a process where each function builds on the previous function. To be fortunate, management needs to follow the four functions of management in the proper order. The head of department initial need to develop a plan, then organize their resources and delegate responsibilities to employees according to the plan, then lead others to efficiently carry out the plan & at the end finally assess the plan’s effectiveness as it is being executed and make any necessary adjustments.

• Planning

• Organizing

• Leading

• Controlling

• Planning:

1st stage is a planning stage, managers establish organizational goals and create a course of action to achieve them. In the time of planning phase, management makes strategic decisions to set a direction for the organization. The head of department can brainstorm different alternatives to achieve the objective before choosing the best course of action. When planning, managers typically conduct in-depth analysis of the organization’s current state of affairs, taking into consideration its vision and mission and evaluating what resources are available to meet organizational objectives.  When planning, managers usually evaluate internal and external factors that may affect the execution of the plan, such as economic growth, customers and competitors. They also habitual a realistic timeline for achieving the goal or goals based on the organization’s available finances, personnel and resources. The head of department may have to take additional steps, such as seeking approval from other departments, executives or their board of directors before proceeding with the plan. 

• Organizing:

The process of organizing is to distribute the resources and delegate tasks to personnel to achieve the goals established in the planning stage. The head of department may need to work with other departments of the organization, such as finance and human resources, to organize the budget and staffing. In the biological stage, managers strive to create a work environment conducive to productivity. The head of department usually take employees’ motivation and aptitude into account to match employees  roles and tasks that best fit their abilities.  When allocated team member roles, managers should explain and ensure that employees understand their individual duties. To aid employees feel engaged and productive, managers should ensure that employees are assigned an appropriate amount of work and an appropriate amount of time to complete their work. If a firm sales in a geographic area have grown exponentially, management may plan to split the territory in two and need to divide the current team working in the zone & hire additional staff members as needed. 

• Leading:

Leading contain of motivating employees and influencing their behavior to achieve organizational objectives. Leading center on managing people, such as individual employees, teams and groups rather than tasks. From the head of department may direct team members by giving orders and directing to their team, managers who are successful leaders usually connect with their employees by using interpersonal skills to uplift, inspire & motivate team members to perform to the best of their abilities. The head of department can encourage a positive working environment by identifying moments when employees need encouragement or direction and using positive reinforcement to give praise when employees have done their jobs well. The head of department normally incorporate different leadership styles and change their management style to adapt to different situations.

• Controlling:

Controlling is the action of evaluating the execution of the plan and making adjustments to ensure that the organizational goal is achieved. In  the case of controlling stage, managers perform tasks such as training employees as necessary and managing deadlines. The head of department monitor employees and evaluate the quality of their work. They can convey performance appraisals and give employees feedback, providing positive remarks on what they are doing well and suggestions for improvement. They may also offer pay raise incentives to high-performing employees. The head of department may require to making adjustments such as:

• Budget adjustments

• Staffing adjustments

Business Management and its Main Purpose:

Business administration is the process of organizing people to accomplish the desired goals and objectives of a business. Business administration need the utilization of the entity’s resources in the most efficient manner possible. Business Administration comprises organizing, planning, leading, staffing or controlling and directing a business effort for the purpose of accomplishing the entity’s listed goals. In a for-benefit business model, business management focuses on the satisfaction of a range of stakeholders, including the officers of the business, its employees, shareholders and the general public (consumers). In this concern business management’s primary function is to secure a profit, (for shareholders) create valuable and innovative products at a reasonable cost (consumers) and provide employment opportunities. In a no benefits range, business management will focus on keeping the faith of its supporters and donors.

• Busniess Management Purpose:

• To successfully enforce a business management plan, the following strategies and relationships must be formed:

• The planning must be debate with all executives, managerial staff and general employees of the business model.

• All head of department should have recognized how and where they can implement their strategies and policies.

• A conventional plan of action must be constructed for each department of the management plan.

• All planned and policies must be reviewed at least quarterly—the review of the business management plan will be evaluated to ensure that the provisions of the plan are properly aligned with the broader goals of the business.

• Occurrence plans must be developed to meet changes in the macro-economy or the environment.

• The business administration plan must actively assess the progress of the company as well as the actions carried-out by the top executives of the company

• The texture of a sound environment and palpable team spirit is required for the business to be efficient.

Types of Business Management:

• Financial  Management

• Human resources Management

• Strategic Management

• Production Management

• IT management

• Engineering Management

• Service Management

• Innovation Management