Definition of business Management
The term business management is the process of organizing and coordinating business, which usually includes several operations, including; Production of machinery and materials, financing, innovation, and marketing, and management is responsible for planning, organizing, controlling business resources and directing them towards achieving the general policy objectives of the institution or company.
Business Administration Branches "business management"
There are more than 20 branches of business administration, and the following is an overview of a number of business administration specializations:
financial management
It is concerned with finding a balance between the amount of profits and the risk that can occur, so that if the company faces some setbacks, the business remains profitable in the long run. This type of management includes planning, directing, and coordinating with accounting, investment, banking, insurance, financial bonds, and other activities. Finance.
Marketing management
It focuses on the practical application of marketing techniques and management of company resources. Good marketing management uses company resources to expand the base of consumers, improve their experience of the company, and increase the market value of the company. There are also several areas of marketing management, including; Competitor analysis, customer analysis, brand management, and pricing.
Sales Administration
This field focuses on the supervision and leadership of sales teams, the sales manager must direct sales representatives to strengthen and strengthen relationships with potential customers and include them with existing customers, and sales management is directly related to marketing.
Service Management
This type of management varies according to the different organization and work, and focuses on managing and organizing the workflow, where service managers need to understand and manage the costs and risks involved, in addition to the value and importance of the service for customers, the service management is what enables the provider to understand the services that Presented from an enterprise and consumer perspective.
Human Resource Management
This type of management focuses on the appointment and management of all employees of the company and includes; Ensuring that the employee feels safe in the company and desires to work in it, provide services to employees, provide compensation, and other aspects of employee management.
Other branches of business administration:
- Risk Management.
- Quality Management.
- Design management.
- Engineering Management.
- Research and Development Department.
- Public Relations Department.
- Supply chain management.
- Information technology management.
- Strategic management.
- Program and project management.
- production management.
- knowledge management.
- Operations Management.
- purchase management.
business management levels
The size of the institution controls the number of administrative levels in it. The larger the size of the institution, the greater the number of its administrative levels. In general, there are 3 administrative levels, which are as follows:
Higher Management
It consists of the board of directors, which formulates general policies and is responsible for the directions and success of the company in general, but it does not participate in the day-to-day affairs of the organization. Rather, these tasks are delegated to administrative managers or general managers who are called CEOs. Other tasks of the senior management include:
- Setting goals.
- organization of work.
- Develop major resources.
Centralized management ، business management
It is concerned with implementing the policies and plans determined by the senior management, and it consists of department heads and executive managers. The middle management staff performs a number of tasks, including:
- Translating corporate policies.
- Preparing the organizational structure.
- Issuing instructions to those who follow them on the career ladder.
- Motivating employees to increase productivity.
- Gather information and reports on productivity and achievement.
Lower management ، business management
This term is applied to supervisors, office managers, and subordinates to department heads, where managers of lower management communicate directly with employees and their most important functions are:
- Business Execution.
- Maintain the standard and quality of the product and work.
- Maintain discipline among workers.
- Conserve time and resources.
Providing workers with necessary instructions and information and guiding them during work.
Business Management Characteristics
There are several characteristics of management, including the following:
Essential for all businesses:
All organizations and institutions, whether for-profit or non-profit, require management to organize their activities, and thus it turns out that the future of business management is developing.
Goal Oriented: Management helps organizations to achieve predetermined goals easily and in a timely manner.
Continuous process: the existence of management is linked to the existence of the institution. As long as there is an institution, management is important, continuous and necessary in all areas; such as production, human resources, finance, and marketing.
Comprehensiveness: Management manages individuals, but it is not limited to that only, but also manages the various processes within the organization, making it a comprehensive and multidisciplinary activity.
Unite the forces: The management process is manifested in supervision, coordination and teamwork, as organizations consist of a group of individuals who work together to achieve the goals of the organization under management characterized by good leadership qualities.
Dynamic: There are many aspects that different organizations may work on; Such as political and social aspects and others, so the administration must be characterized by dynamism and flexibility to be able to formulate various strategies to deal with these aspects, taking into account the continuous changes that occur to them.
Intangible power: Management operates in secret. It is something immaterial and tangible, but its impact and presence are reflected in the way the organization conducts its business.
Business Manager Jobs
The role of management needs to identify the basic functions that all managers perform, which are the following:
Planning for business management has special methods and skills, including planning. At this stage, management determines the company’s goals, taking into account the company’s current situation, vision, mission, and evaluation of available resources; To achieve organizational goals within a specific course of action, and this is done through the following:
- Setting short and long term goals.
- Prioritize tasks. Establish a timeline of action.
- Communicate details of new projects to the team.
Organizing The organizing stage includes many tasks, such as:
allocating resources and assigning the right employee to the right place; In order to achieve the goals set before, managers in a particular department may need to work with other departments and create a productive environment that motivates employees to get the work done. The manager must be able to reorganize in response to any new challenges; Like modifying a project schedule.
Leadership Leadership focuses on managing individuals and groups and motivating them to achieve organizational goals, through the issuance of orders and direction. A successful leader is the one who uses communication skills and is close to his team members, and there are different styles of leadership, including:
- Steering leadership.
- Training leadership.
- supportive leadership
- Delegated leadership.
censorship
At this stage, managers evaluate the implementation of the plan and make the necessary adjustments to ensure the achievement of the goal, in addition to monitoring the performance of employees and the quality of work. Oversight provides feedback on the work done with suggestions for development. At this stage, it is possible to provide material incentives for outstanding employees.
Advantages of studying business administration There are several advantages to obtaining a degree in business administration, as business administration is undoubtedly important in the labor market, including the following:
Availability of job opportunities: According to reports from the US Bureau of Labor Statistics, it is expected that job opportunities for business and finance majors will increase by 5% in the period between 2019-2029, and at a rate higher than the rest of the other fields of work.
Wide range of career fields: Having a degree in business disciplines helps you learn basic business knowledge, and then start searching for a job in the field that appeals to the researcher. For example, an individual with a degree in business administration can work as a sales manager, or industrial production manager, Or management analyst, and other business administration departments.
Acquisition of skills required for the labor market: When studying business administration, an individual acquires the competence and discipline necessary to engage in the labor market, which makes it easier for him to practice and develop his work skills in a supportive environment and succeed in the business world.
Mastering leadership skills: The business administration program contributes to developing leadership skills, as it is possible to learn to lead and motivate others, communicate effectively, think critically, in addition to discovering and solving problems, and making sound business decisions, the field of business administration is a very competitive field and the individual must learn leadership skills in order to It is distinguished from others and is being attracted by the pioneers in this field.
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