The art of managing a business, means coordinating the various efforts of the staff with the aim of accomplishing goals and the set objectives with the aid of available resources effectively and efficiently. Business management generally comprise of organization, planning, leading, staffing, and controlling organization activities to achieve the prospected goal. Many organizations are viewed as systems. It therefore dictates that management is a human action, which includes designing, facilitating the production of important outcomes from the system. This then present a picture people being able to manage themselves is a prerequisite in trying to manage other people (Ananthan, Appannaiah, & Reddy, 2010).
Theoretically, business management includes manipulating of human capital in an enterprise to enhance the business success. An enterprise must therefore include humans, positive communication, and endeavors that are positive (Ananthan, Appannaiah, & Reddy, 2010). Other factors such as psychological motivational tools, plans, goals, measurements, and economic measures at times can or cannot be important components of business management.
Critical business functions
In the current tumultuous business world economy, enterprises must adjust to fit.. It is necessary for the business to be aggressive in finding means of remaining competitive in the current economy of the world. One of the critical things to do is to restructure its functionality mode (Sen, 2008). Many times some of the enterprises that try this are faced with failure due to existence of stumbling blocks. Therefore, it is worth for the business to come up with well structured plan to go through these radical changes. The best way of doing this is by fully including their staff prior to and after making a decision that impacts change in the operation of the business (Ananthan, Appannaiah, & Reddy, 2010).
Companies that are willing to understand some of inextricable that might occur within the time of preparing the workers to welcome the new changes and the effective and efficient new initiatives implementation, then, are likely to notice that their efforts make an extra mile. Through careful planning and top leaders’ support will help the workforce to adjust to the changes- therefore the business will hence remain at its competitive edge (Sen, 2008).
Individuals and systems integration for effectiveness in an organization
In the dynamic technological advancement, any business corporations need to be in line with the ever changing business operation systems. Aggressively, all the individuals are supposed to accept the role played by these systems. The most crucial system is that of passing information, all the workers are deemed to be aware with any new implementation at any particular point. Communication keeps the business running, internally; the workforce will be flexible if and only if, the information passed is clear. Externally; information coming will enhance the enterprise to be aware of the competition level of their competitors and then adjust appropriately. Effective integrations will subdue the full utilizations of the employee’s abilities (Sen, 2008)
The ethical and social responsibilities bestowed on a business
In terms of ethical issues the business is faced with great challenge of remaining a loft with its initial target of servicing their prospected customers. Some of the ethical issues are quality service and quality productions. Any business that has been in the market for long and their service and goods have gained a brand, should not start lowering the quality and quantity of service and goods production. They also need to run their business in relation to the demand of the general public and the requirement the state (Kwarci, 2012).
Socially, businesses have the responsibility of playing a great partnership with the state and the general public at large. They need to be part and parcel of the major operations of the society in such a way that take part of society development. Environmental protection is also their great responsibility in ensuring its prosperity. In regard to the state, business need to be aware of the need to pay taxes in advance to avoid being in conflict with the state (Kwarci, 2012).
The aspects of business management
The following will be some of the very crucial aspects that any business manager ought to be equipped with to facilitate the process of business management. Human resources, is one of the most crucial aspects of any business. It involves looking after the well being of your staff, it is the staff that determines your way as business. Another aspect is that of marketing, sales and promotion. Once the products and services have been produced, it is the responsibility of the sales marketing department. A well strategized plan from this department will see the business go up in the total sales (Ananthan, Appannaiah, & Reddy, 2010).
These aspects are very crucial because they really give out the clear picture of the business from within and outside business environment. In conclusion, they help the enterprise to furnish their business outlook before the eyes of the customer and very importantly to those of their competitors.
- Ananthan, B. R., Appannaiah, H. R., & Reddy, P. N. (2010). Business management (Rev. Ed.) Mumbai [India: Himalaya Pub. House.
- KwarciÅ„ski, T. (2012). Ethics of Business or Ethics for Business? Two Models for Teaching Business Ethics. Management and Business Administration. Central Europe, 3(116), 42- 49.
- Sen, M. (2008). Business management. Jaipur, India: Oxford Book Co