Business Management what is it? Working on this issue is a key pillar of success for all types of companies. Because with good business management, your company will be much more prepared to achieve its results and grow every day.
Responsible, healthy and profitable. Therefore, understand now everything you need to know Business Management: what it is, all its importance and the mandatory pillars to work it the right way and without secrets! You want to receive tips and information to set up your own business.
So subscribe to this channel and stay on top of everything you need to know to open your own company. To try to make this matter very clear, let's address the following points: 1. WHAT IS BUSINESS MANAGEMENT 2.
ALL ITS IMPORTANCE 3. 10 MANDATORY PILLARS IN BUSINESS MANAGEMENT So, let's go! 1.
WHAT IS BUSINESS MANAGEMENT In a practical way, it is the set of activities and processes used to manage a company efficiently and effectively. That is, they are the practices and strategies that aim to plan, organize, lead and control business activities. Always seeking to achieve the goals and ensure the success of the organization.
Likewise, business management involves several areas and aspects of the company. Such as finance, operations, human resources, marketing, sales, among others. And this includes making strategic decisions, allocating resources, managing people and processes, in addition to monitoring and evaluating performance.
From the same point of view, business management is responsible for working with team leadership, setting goals and objectives, drawing up action plans, managing financial resources, supervising operations and making strategic decisions. Thus, we can say that it involves leadership skills, analysis and planning skills, knowledge of the market in which the company operates, in addition to communication and negotiation skills, for example. Therefore, business management is fundamental to the success of all types of companies.
For bringing many benefits and working on essential points. Which is what we're going to talk about now. 2.
ALL ITS IMPORTANCE Business management allows defining and planning clear objectives for the company, establishing specific and measurable goals. It provides the necessary guidelines to steer the organization in the right direction and ensure that everyone is working towards the same results. Through the proper management of resources, processes and people, it is possible to increase the operational efficiency of the company.
This means intelligently using available resources, reducing waste, optimizing processes and improving productivity, resulting in greater profitability and competitiveness. Business management involves data analysis, financial information, market studies and other tools that help in making informed decisions. This allows managers to have a clearer view of the current scenario, assess risks and opportunities and make better choices for the future of the company.
The business environment is constantly evolving, with new technologies, market trends and regulatory changes. Thus, business management enables the company to adapt to these changes, identifying new opportunities, adjusting strategies and ensuring survival and growth in a competitive scenario. Business management also involves human resource management.
It helps to attract, develop and retain talent, creating a team that is engaged, motivated and aligned with the company's objectives. In this way, good people management results in greater productivity, a positive organizational climate and better overall company performance. And with all this, business management is key to ensuring that the company operates efficiently, achieves its objectives, adapts to market changes and promotes sustainable growth.
In addition, it provides a solid basis for making strategic decisions, maximizing resources and creating value for customers, directly impacting business results and success. 3. 10 MANDATORY PILLARS IN BUSINESS MANAGEMENT 1.
MISSION, VISION AND VALUES Mission, vision and values are strategic concepts of business management. That is, they are part of the strategic business planning. And on a day-to-day basis, they serve as a compass for companies, guiding the paths to seek the expected results.
In other words, they help define the strategic direction of companies. 2. ORGANIZATIONAL CULTURE Basically, it represents the company's values for all the people who are part of it.
In other words, it is the manifestation of a company's values. That is, it is a reflection of the ethics, values and morals that the company has. It is she who will guide decisions and prepare the company for the future.
And so, it naturally guides the paths to be followed. Organizational culture relates to what employees consider important and apply in their daily lives in general. Likewise, we can say that it defines the way the company conducts its business.
As well as dealing with your stakeholders, such as partners and customers. And one of the main objectives of organizational culture is to make the work environment conducive and pleasant. And so, to make everyone have a sense of the individual and the collective as well.
And, consequently, provide a good place to work and live. This makes employees always motivated and produce more every day. 3.
STRATEGIC PLANNING Basically, this is the management process used to create a plan on how to achieve an objective or set of goals. And he is fundamental to develop a medium and long term vision. And thus organize and prepare your company to move in the direction initially planned.
At the same time, it allows you to adjust during the execution of the plan in a coherent and assertive way. A well-developed strategic plan can play a key role in your company's growth and success. Because it shows the best way to respond to opportunities and challenges, in addition to helping to create competitive advantages.
4. PEOPLE MANAGEMENT In a practical way, it is a set of practices focused on maximizing the potential of people or each individual on your team. That is, it is related to the practices adopted to study, understand and value the human capital of companies.
In other words, it's caring for and valuing your business employees. Thus, ensuring the personal and professional development of each one of them. Also, prepare everyone so that the results and objectives of your business are achieved on a daily basis.
Although this subject is closely related to Human Resources (HR), this work encompasses more than that. Therefore, it is the responsibility of the company's leaders. And also the managers of each area or department.
5. QUALITY MANAGEMENT In short, this is a strategic tool that seeks a systemic view of the entire company. In this way, it works all the control of the organizational processes to reach the desired quality.
Like people management, information, finance, structural, communication, sales, anyway. In other words, quality management will make your business seek, and achieve, the continuous improvement of its products/services. As a result, ensure and exceed customer satisfaction and expectations.
6. FINANCIAL PLANNING Financial planning consists of projecting income and expenses for a given period. In addition, it analyzes projected scenarios and sets goals based on this information.
In other words, he will be the one who will point out the guidelines for the business to be profitable, through a set of actions, tools and controls that seek to understand, organize and manage a company's financial resources for the short, medium and long term. That is, business financial planning has the main objective of ensuring that your company has enough cash in hand to live a healthy life, be able to take advantage of opportunities or solve possible emergencies and, thus, constantly grow. 7.
PROJECT MANAGEMENT This is about managing all aspects of a project itself. As necessary and available resources, people and teams, deadlines, tools, budgets, progress and results obtained, among many other points. In the same way, it will be possible to closely analyze each part of the project.
Thus, guarantee the expected results throughout the work. In other words, project management is structuring and organizing the planning, execution, monitoring and control of the projects in question. 8.
MARKETING MANAGEMENT Basically, it is the management that analyzes and monitors the strategies, actions, processes, and people related to marketing activities. In a way that adds value to the market and its consumers. As well as achieving business goals and objectives.
With this management, it is possible to identify and find ways to meet identified demands and opportunities. As well as working on possible failures and threats. Still, always monitoring and studying the market, competitors, consumer behavior, suppliers and other subjects in an organized, coherent and planned way.
Everything to satisfy and delight customers. Attending and solving their problems and needs, while generating profit for the company. 9.
ACCOUNTING In a nutshell, accounting is the science that studies, registers and interprets the financial information of companies and the activities that affect their economic management. In practice, it assists the process of business administration. All through information and reports that guide managers to follow certain paths to have more profitability and business success.
Everything according to the laws. In part, it is about the inflow and outflow of money. However, this simple movement influences several other subjects and fronts.
Keep in mind that every money coming in and going out of your business needs to be registered, processed and passed on to the government. Which influences the amount of taxes, fees and obligations that must be fulfilled according to the legislation. And that is precisely what accounting monitors and manages.
Role played by accountants or companies specialized in this matter. 10. LEADERSHIP Good leaders can be self-aware, have great communication, know how to teach and delegate tasks properly, encourage critical and strategic thinking, recognize efforts, know how to listen and learn and are able to motivate all members of their team.
However, many professionals fail to exercise their leadership in the right way. And this is very dangerous. Since bad leadership is capable of bringing very negative results in the short, medium and long term for the company.
Did you see how business management is fundamental to the success of your company? Certainly, when well crafted, it is a key pillar for the planned, assertive and responsible growth of your business. However, the pillars we talk about here are mandatory, but they are not the only ones.
So if you know any important subject that we don't talk about here, write it in the comments and share it with us! And there? Did you like this video?
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