Business Management: Definition, Function, Components, and Planning
Being a businessman may not be careless, must minimally know what business management is. Because without good management management, it is certain that the business run will not be successful. Not denied by beginner businessmen failed to fail due to ignorance of the importance of management in the efforts they were building, so that the effort carried out by the time.
Understanding of business management
Business management is an activity plan, work, and supervise a business or business. The purpose of this activity is that business goals can be achieved. Business management can also be interpreted by all efforts carried out in accordance with plans alone to achieve sales targets.
This means that without the management process it is not possible for sales benefits can be obtained. Management on efforts allocates all the needs thoroughly for various things. From planning, control, action, and evaluation. In the fourth activity this is a business progressiveness line can be determined to move quickly or slow down.
If you see from the above understanding of course business management is the most important element that makes the business develop or vice versa. So it’s natural if a good business is determined by good management. Instead the business is poor and the chance to go bankrupt is a business that is run without quality management. Because it is certain that the planned careless plan of business progress is also not supervised in detail and strict.
From this condition it can certainly be put on your business. If you don’t have planned and qualified management, immediately make or better stop your business. After all, it finally won’t give satisfying results because there are only losses for a huge loss.
Business management function
After knowing the definition of business management, the following will be explained by the management of your business. This is what will be the reason why business management needs to be studied by business owners or you who are just planning to build a business.
This is the function of the business management in question. Please understand if necessary note so that when it will open a business to stay opened and be studied only.
1. planning
The first function is planning or planning. To build a business certainly needed a kind of plan, such as marketing plans, products sold, promos to be offered, bookkeeping or other. This plan must be recorded properly. Because this will be a benchmark for future business movements.
The thing that is usually wrong in starting a business is that they do not plan the bookkeeping process when starting their business. Even though the good bookkeeping process will make you able to see factual financial data that will help you to make business planning as a whole based on financial data.
The meaning of a businessman will run his business in accordance with the planned plan. Well the purpose is to determine what goals are really achieved or vice versa.
Mostly, the reasons for business people do not use bookkeeping when starting a business is because they do not understand the accounting science at all or they think that the recording process of bookkeeping and making financial statements is a very time consuming, even though this is not entirely true.
2. Organizing (grouping)
Organizing or grouping can be related to labor. The point is if there is a plan, the working group must be made. Make sure they have the same portion of work in their respective fields. Like the marketing team, administrative team, warehouse team and so on.
This kind of order is to make the process of working regularly and is not ambiguous with others. In addition, the process of evaluation is easier because it is just asking for a report from his team leader. Well this is a good momentum to judge the extent to which the team works. If not in accordance with the specifications, the team can be moved to a more appropriate position.
If the grouping management function is successfully carried out can also be a supporter of achieving business objectives. Conversely, if the team does not work well, the leadership can take the initiative to replace or the business will collapse.
3. Staffing.
Staffing is related to resources in companies such as raw material products, production machines, supporting facilities and so on. It must also be regular to be able to make efforts more advanced. Therefore, the right resource setting must be adjusted to the business needs. This can be done only if there is good management in the company. If it doesn’t exist, the resources will be used for things that are not priority whose effect is swollen capital.
This which sometimes makes the company financially collapse while the results of work are completely ineffective and efficient. The risk if you don’t get a capital injection, the business will immediately go bankrupt. Certainly this condition is not desirable. Therefore, business management needs to be done as soon as possible. In order for regulating the function of using good resources.
4. Directing.
The fourth business management function is a directory function. The point is that the action of leaders who continues to encourage his team to work in accordance with the planned agreed at the beginning. Because sometimes at the beginning of the work of the passion of employees enthusiasm but if you have entered the final stage it decreases. This can cause company losses. In this management function the leader must go down immediately see the progress of his team’s work. If you need to give an understanding if a work system occurs that is not in accordance with the plan.
This kind of directing management also needs to be done. Because this is directly related to work compliance with planning. Because only by working according to planing, the target goals can be achieved but not vice versa. On that basis, still give a good directory. But avoid making a reprimand that makes the team feel offended.
5. Controlling
Controlling or supervision is the final business management function. Controlling alone observation whether the work system is done according to work or not. With the presence of these important points that will be used as evaluations must be recorded. Likewise with the difficulties experienced.
This controlling does not have to be done by the leader but at least by the group leader. Because those who know more about what is happening in the group. The leadership of residence requesting a group accountability report during the evaluation. From that report the leadership can determine the policy for the next period of business.
Business Management Components
Business management components mean are elements that must be carried out with the management system. Everyone has different functions. Here is the business management component in question:
1. Financial management
Financial management is a management that regulates budget settings in the company. It is hoped that with this management of money that has been spent can be used effectively and efficiently.
2. Marketing management
Marketing management is a business management component in the form of planning, actions and supervision activities related to product marketing. While the purpose is that the promotion of the product carried out is really liked by the customer.
3. Production management
Production management is the arrangement of the manufacturing process of products in the company. This is related to the meaning of production machinery, production operators and compounding raw materials used.
4. Distribution management
Distribution management is a management activity to ensure the right product distribution. The point of goods reaches the product is not deformed and can arrive quickly.
5. Management of HR.
Human resource management means management activities that regulate workers. Including discipline and setting their work fields.
Business Management Planning
Planning that needs to be applied to run business management is not difficult. This is the planning list which if done means that one element of business management has been executed:
- Determine the company’s goals and business targets
- Develop strategies to achieve goals
- Determine the resources needed
- Establish work standards to achieve goals
Such an explanation of business management is reviewed completely. Please apply if you want to build a business.
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