Business Management...

                    

Business management 

Business Management...

Management means to manage,it means manage the activities.Management is very important in every field like schools, colleges, hospitals, Business, our everyday life etc,without proper management no one can get success.

Business Management is manage the activities and factors of production so the objectives of business objectives can be achieved effectively and efficiently.Without management ,resources of production never become production, business without management is like a blind men ,like blind men cannot work properly same as business without management cannot work properly.

 Management is concerned with management of work , people & operations. We need management before and after the business is set up.

Management function is performed by efficient managers, Those who have managerial skills and knowledge. Those who lead,direct and motivate the subordinates.

Management is an Art...

Art is a skill in performance.It is acquired by study, observation and experience.In management manager had to direct,motivate ,lead subordinates,in Art they get knowledge how to direct,lead, motivate and work done by others,so objectives of organization can be achieved effectively and efficiently.

Management is a Science...

Science is a body of systematised knowledge & based on principles,as same way management is also a systematised body of knowledge because in management , management functions like planning, organising, directing & controlling  is also perform in a systematic way . Management is also follow management principles that's why Management is a Science.

Management as a Profession..

Like profession we need systematic knowledge, training and code of conduct ,In management also we also need systematic knowledge, training and code of conduct.So Management is a Profession.

Management as a Profession 

                   

 What are the functions of Management?

1) Planning- First and foremost function of management is Planning.Planning is deciding in advance what should be done in future.In planning manager decide the goals of organization and also decide what are the resources required like land , labour,machinery,capital etc to attain goals efficiently and effectively.In planning function manager makes plan for factors of production like....

a) Capital- In planning manager decide how much capital will require in future for attaining goals .From where we get capital,how much loan will be taken,from where we get loan ,how much interest rate will paid on capital.What should be profit rate of organization.

b) Labour-In this factors of production ,manager decide how much labour will required. What should be skill in labour ?What will be salary given to subordinates etc ?What are the training skills development plan for subordinates?

c) Machinery- In this factor of production, manager decide which type of machinery will require for production in future,and other equipments required for production.What will be the cost of production ,what will be the rent of machinery have to pay.?

2) Organising- After making all the planning of organization ,manager make organisation,it means in this function manager employ subordinates in jobs ,they employ subordinates according to their skill, knowledge & Experience.

And this function manager also decide how subordinates get promotion and what will be their salaries ,bonus etc ,In organising function manager also decide their working hours and their holidays and also makes arrangement for their training and development.

3) Directing- After making organisation ,manager most important function is to give direction,it means guiding,instructing,motivating and leading subordinates so that objectives can be achieved effectively and efficiently.In this function manager show direction to subordinates it means how work will perform in best possible way.

4) Motivating- Another most important function is Motivating,in this function manager motivates the subordinates for work . Manager motivate the employees by financial and non financial techniques,in financial technique manager give bonus ,Increament in Salary, mediclaim, retirement benefits, pension, gratuity etc and in non financial techniques manager motivates the subordinates by job Enlargement,job Enrichment,job rotation, praise and recognition competition, contests, promotion, delegation of authority etc these are the Techniques which are used by manager to motivates the subordinates.

5) Controlling-In this function of management manager compare the actual performance with planned performance ,it means in this we come to know how much we actually attained,if there is any deviation between actual performance and planned performance manager take action against the responsible subordinates and give order for future improvement.And again make planning for future.

Characteristics of Management...

📝 Management is a human activity because it is perform by human and on humans .

📝 Pervasive Activity-Management is pervasive activity because it is perform in all the level whether it is top level, middle or lower level.

📝 Universal Activity-Management is universal activity because it is perform in every field whether it is school, college, hospitals, Business,and every day life.