What is Business Management

Business Management

Everyone would want to do business, to start a business you must need the name of knowledge to do business. For this reason, I will review business management

Business management is the activity in designing, managing and operating a business or business. he covers all the good arrangements in the process of doing a business to achieve a goal that you want. From large businesses to small businesses must use business management so that the pace of your business has a target and can fulfill it.

Business Management Function

After knowing the definition of business management, the following will explain the function of management in your business. This will later be the reason why business needs to be studied by business owners or you who are just planning to build a business. Please understand if it needs to be noted in order to simplify when you will start a business

1. Planning

The function of a plan in the initial stages is to make a business plan and also you can achieve a goal in the business that you are going to run.

But this planning stage is not so easy as we imagine because you have to make a good business plan in planning in business about the planned business goals.

2. Organizing

Organizing or grouping can be related to labor. The point is that if there is already a plan then a working group must be created. Make sure they have the same portion of work in their respective fields. Like the marketing team, administration team, warehouse team and so on.

3. Staffing

The staffing function or staff assignment relates well to getting common goals, maximizing the capabilities of each staff member and being able to maintain a creative workforce and have innovations in developing a business to achieve a common goal.

4. Directing

The fourth business management function is the directing function. Because sometimes at the beginning of work the enthusiasm of employees is excited but if it has entered the final stage it actually decreases.

This can cause company losses. In this management function the leader must come down to see the progress of his team’s work.

5. Controlling

Of all the management functions in a business above, controlling is needed. This is intended to be able to thoroughly evaluate the performance of a company’s resources. An active manager can control all the resources that have been organized in a company and ensure that what has been done is as planned.

Important Components

The components of business management mean the elements that must be run with a management system. All have different functions. Here it is the business management component in question

1. Financial Management

Financial management is management that regulates budget management in a company. It is hoped that with this management the money spent can be used effectively and efficiently.

2. Marketing Management

Marketing management is a component of business management in the form of planning, action and supervision activities related to product marketing.

3. Production Management

Production management is the regulation of the process of making products in the company. This is related to the functioning of production machines, production operators and compounding of raw materials used.

4. Distribution Management

Distribution management is management activities to ensure the right way of product distribution. That is, goods that reach the product are not defective and can arrive quickly.

5. Human resource management

Human resource management means management activities that regulate workers. Including discipline and setting their work fields.

Planning in Business Management

Planning or plans for doing business will certainly be an important point in the success of business people. Good business management will be able to bring the business to a better direction, be it from beginners or seniors.

In running a business an important factor is a resilience and toughness in dealing with all kinds of obstacles or challenges.