Business Management Book

Principles of Business Management course, basic theory for beginners

This book covers education covering the basic principles of business management with particular emphasis on quality assurance and improvement of text, offline management course modules. It is important to have a basic understanding of business principles, especially when you study business management.

Business management is the act of organizing people to accomplish the desired goals and objectives of a business. Business management requires the utilization of the entity's resources in the most efficient manner possible.

Business management 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-profit 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 regard, 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 nonprofit scope, business management will focus on keeping the faith of its supporters and donors.

Basic Functions of Business Management:

Business management operates through a series of functions, typically classified as organizing, staffing, planning, leading, monitoring, controlling and motivating.

Planning: This area of ​​business management decides what needs to happen in the future and subsequently generates plans for action. Planning is the foundation for effective business management; by deciding what needs to happen next week, next year or over the next five years, a business can develop a strategy to meet its listed goals.

Organizing: This portion of business management implements a pattern of relationships among its employees to encourage the optimum use of the entity's resources. Organizing is needed to utilize the businesses' finite resources; effective use of resources is the foundation for reaching a desired level of productivity.

Staffing: This area of ​​business management focuses on recruiting, analyzing and hiring individuals for appropriate employment posts.

Leading: Also referred to as “directing” in the business management model, leading requires the entity’s executives to determine what needs to be accomplished in a situation and what employees are best to fulfill such expectations.

Monitoring/Controlling: This phase of the business management process requires the leaders of the entity to monitor progress in relation to the plans and business of the business.

Motivation: A key aspect to the business management model, motivation is a basic function to maximize employment efficiency. By boosting morale, employees will carry-out their specific tasks in an effective manner.

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