Business Management Methods

Business Management vs. Leadership

Managing is not the same as leading. Leaders are more prone to create business models and grow businesses. A manager is more apt to oversee the created model and maintain the business’ growth. Effective management is key for maintaining future growth. Managers are the ones who keep the company running smoothly on a daily basis, as the leaders of the company are trying to take the business to a new level. Managers keep the company flowing to keep the cash flow, and in a lot of small business organizations, the leader and the manager are one in the same (autocratic). But as a business expands, in most cases, the leader must appoint a manager to keep all the other main important areas in compliance.  It is the job of the leader to “lead” his manager and have an effective method in place for that manager to take and run with.

Business Management Methods

Each company possesses a certain type of style in regards to how they run their day to day operations. There are 5 well known business management methods. Today we will talk about the first of the 5 methods, Autocratic Management.

Autocratic Management

Of all the methods we will discuss, Autocratic Management is, by far, the most common methods for small businesses. With Autocratic Management, the business owner is not only the leader and the one that is responsible for the company, but also the President or CEO of the company; maintaining the role as manager. The business owner makes most, if not all, of the decisions and is ultimately the one driving and sustaining the business.

My Advice to Autocratic Managers: Autocratic business management should not be a long term type of method that you have in place. Autocratic methods can stunt growth if they stay in place too long. For increased growth, it’s key to find the best transitional type of management style that meets your businesses culture.  But before transitioning to one of the methods we will be discussing in the weeks to come, make sure you have properly mastered Leadership Skills #4 & #5 (if you want to learn more about these leadership skills, visit my blog).  Without the ability to duplicate yourself and delegate roles successfully, transitioning to a new type of business management method may lead your company towards failure.

Autocratic Business Management is only the first of 5 different business management methods we will be covering in the week to come.

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Would you like to learn the rest of the #11 Skill Sets of a successful Leader visit my blog.

 

Effective Tools to Improve Business Management

What is Business Management?

Business management, in simple terms, is the managing of a business or company. To delve a bit below the surface, business management is a broad field that trains people for managerial roles in technology, retail, government and other sectors.

Why Should It Be Improved?

Improving the way a business is managed is highly beneficial. But why? For starters, those who manage a company will know all too well how imperative it is to manage the activities well. The management can vary from providing insight to business plans, ensuring a productive working environment, to overseeing business events. Because business management can cover such a large range of the field, it is highly advantageous to develop a great method to ‘manage’ business management.

How Do We Improve Business Management?

There are certain social and technical skills involved with business management. These can be improved upon with the duration of time. However, there exists another aspect of management: equipment. Now what is meant by ‘equipment?’ By equipment, I mean tools such as custom software, electronic documentation, GPS tracking, and much more. These ‘tools’ are great weapons to provide a much more efficient management of business.

Here’s How It Works

Through the use of various software, your business management can see improvement. What the software does is allow you to focus on more pressing matters at hand. By having a software handle the bulk of simple clerical work, less effort is required to oversee those employees. In turn, those employees who work with clerical tasks will operate at a much more efficient rate. This could potentially allow for a decrease in labor pertaining to clerical work, which could then lead to more room for specialized workers. This would ultimately benefit the company overall.

An example scenario of this occurring is basic inventory. Many clerical workers are required to do some form of inventory. With the use of cloud software and an inventory management program, clerical workers can complete such tasks with great speed and ease, resulting in a more efficient state of operation. The same can apply to electronic documentation. By sending, receiving, and editing documents at blistering speeds and convenience, operations will be made significantly more efficient.

Another tool to utilize in management is what we refer to as a Customer Relationship Management or CRM for short. This software system allows the company to, in a nutshell, handle relations with customers without exerting too much effort. Because the customer is so highly valued, a CRM can greatly reduce workload for you and your employees by handling current and future clients. This allows time and energy to be conserved for instances where much greater attention is required.

Implementing a Reputation Management System will greatly benefit business management as well. These types of software systems allow for a company to either maintain or improve the image and reputation of the company. With this system in play, company owners can focus less on tending to their organization’s face and more on managing the actual company, thereby improving focus.

Conclusion

Business Management can be improved in a variety of ways. One effective way is by tackling it head on using various tools, or in this case, software programs. These programs will aid greatly in the management and expansion of a company, regardless of the size. By improving the managing of business, your company will certainly prosper.

How Do You Acquire These Useful Tools?

Everything mentioned within this article is offered at ProDBX and much more. ProDBX provides its clients with tailored software, meaning every function most businesses require, this company can specially create it. And at a cost-effective price. Through their software consultants, ProDBX will sit down with you and discuss the best options for your company, even providing free, personalized demo conferences. Furthermore, every service and software offered is cloud-based, indicating an ease and convenience of access whether you are on your computer, tablet, or phone.

 

Business Manager – Vital Cog in Business Enterprises

A Business Manager is a professional who is entrusted with the job of managing a business firm or a corporate enterprise or a private enterprise on behalf of a company or individual with the outcome of earning profits and revenues. There are several areas where a Business Manager can use his or her knowledge and expertise to serve – accounting, auditing, budgeting and taxes, data processing and analysis, finance, HR and personnel, marketing and public relations, operations analysis, purchasing and so on. Besides there are also specific technical areas in which a Business Manager can have specialized knowledge and skills like computer programming, e-commerce, law, science etc.

Even small businesses or home businesses sometimes typically have Managers doing multiple roles that focus on the company’s marketability and reach. In such a scenario, the Business Manager shares much of the owner’s duties and responsibilities in running the business successfully and in some cases, earning a share of the profits.

There is no doubt that the role of a Manager is very essential and crucial to a business. As we have seen in the modern era, even artists and private individuals like musicians, dancers, painters, writers, sportspersons etc. have Managers who manager their business affairs, professional commitments and financial matters. Hence, the role of a Manager cannot be taken lightly. In the context of a governmental agency or a military agency, the position of Business Manager would be equivalent to that of an Executive Officer or a Chief of Staff.

Functions or Role

Overseeing the operations in small, large or private enterprises involves many specific functions. Generally, the duties of a Business Manager extend to:

• Developing and implementing budgets
• Fixing business goals and targets
• Hiring, training and evaluating employees
• Supervising and overseeing duties of support staff
• Handling payments and contracts
• Managing business commitments, travel schedules etc.

Qualifications

Most Managers require a basic qualification of a bachelor’s degree in Business Management which has many in-built modules in tandem with the duties listed above. They also need to have excellent communication skills, great inter-personal relations, be adept in promotional and marketing abilities and have contacts with media agencies and networks. In many businesses, salespersons who have worked through the company for many years handling several responsibilities are promoted to Managers levels and entrusted with greater responsibility.

Public profile

In a private enterprise such as a Manager handling the portfolio of an artist or sportsperson, the role of a Business Manager is very much in the public eye. Several past business managers have been caught in financial and personal scandals ranging from negligence of professional commitments to fraudulent practices in financial matters, illegal and unethical management of assets, swindling of revenues etc. which can be a serious setback to professional enterprise.