Bus Mgmt

Business Management

Managing is an essential skill that all people need to develop. A manager is someone who coordinates the business’s limited resources in order to achieve specific goals. Managers highlight a number of important characteristics of management:

1. Having the ability to analyse information, attend meetings and communicate with a wide range of people from inside and outside of business

2. Manage change effectively

3. Having the vision to see how things could be

4. Providing leadership through the desire to encourage, motivate and guide employees

5. Understanding your roles and responsibilities in order to achieve the goals of the business

* Management is the process of working with and through other people to achieve the goals of the business in a rapidly changing environment

* A manager is someone who coordinates the business’s limited resources in order to achieve specified goals

* Working with and through others: management is a social process and managers should interact and communicate with employees

* Achieve the goals of the business: businesses need goals in order for the employees to understand the ultimate purpose of their work, managers to measure performance. Effectiveness measures the degree to which a goal has been achieved

* Getting the most from limited resources: resources are scarce, therefore managers need to coordinate the resources efficiently. Efficiency compares the resources needed to achieve a goal (costs) against what was actually achieved (benefits)

* Balance of efficiency and effectiveness: the key to achieving a competitive position in today’s challenging business environment

* Coping with a rapidly changing environment: successful managers are those who anticipate and adjust to changing circumstances

* Management within the business: stay in time, inspire and lead, and encourage superior

* Management is a difficult and demanding job, the hours are long,...