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Introduction of business management:

Business management is the systematic approach to the making an organization workflow extra successful, more capable and more efficient of adapting to ever-changing atmosphere. Business Management is also an academic discipline, and the social science whose object of study is social institute.

Definition of business management:

Business Management in the business is a function that coordinates the efforts of people to achieve the objectives and goals using available resources effectively and efficiently. Business Management comprises planning, staffing, organizing, leading and directing, or controlling an organization and initiative to achieve the goal. Resourcing encompasses the manipulation and deployment of human resources, technological resources ,financial resources,  and natural resources.

Component of business management:

1. Project scoping and Process discovery

2. Design and Process modeling

3. Business rules engine

4. Workflow engine

5. Testing and Simulation

What does the business manager do?

A business manager evaluates designs, measures, executes, controls and monitors business processes. These managers work to ensure that the business management outcomes are in harmony with the organization strategic goals.

Every business must manage three things purpose, project, and process:

Every business that grows and thrives internally or externally figures out how to manage three things at all times: purpose, projects or process. Purpose Manager is to create and notify the story of why the business. Project Manager is to continually seem to break each business innovation, challenge, question, campaign or initiative into logical projects complete with the required action steps and resources. Process Manager is to receive and implement tasks and action steps that reduce from every project plan or operate recognized processes.

Objectives/goals of business management:

Business objective is something that the business is aiming towards or the strategic position it is working to accomplish. Objectives are similar to goals but often have success rather than quantifiable metrics. It's important to have a set of business management goals and objectives. There are three goals of business management.

1. Employee motivation

2. Increased profit

3. Customer satisfaction

Five function of business management:

There are five functions of business management: planning, organizing, coordinating, staffing, and controlling. These functions divided the business management process from other business functions such as marketing, accounting, and finance.

Business management Needs/requirement:

1. Business Management is needed in the order to facilitate a coordinated effort toward completion of organization goals.

2. Business Management in all the business and organizational behavior is the act of getting people together to the accomplish desired objectives and goals using the available resources and efficiently and/or effectively.

3. Good Business management is needed to the inject motivation, discipline, creativity, or eagerness into areas in which they either do not exist or they are not necessarily wanted.

Skills of the business management:

Political: Used to build a establish connections and power base.

Conceptual: Used to analyze complex situations..

Interpersonal: Used to communicate, mentor, motivate, and delegate.

Diagnostic: It is the ability to visualize the most appropriate response to the situation.

Leadership: Ability to lead and provide the guidance to a specific group..

Technical: Expertise in one particular useful area.

Most Critical issue facing in business management:

The major critical issue currently facing management in my view is the economy. The nation current economic position is requiring companies to operate the under tight financial constraints. It appears international economy is moving towards recession. A critical business issue can be thought of as A opportunity or problem that is critical to overall success of the organization.

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