Essay Sample on Management of a Business

Paper Type:  Essay
Pages:  4
Wordcount:  944 Words
Date:  2022-11-05

Introduction

There should be no worry about the size of the business. Small is a new big. Liking forward lets you stand still as today is the only day you can take back. Business dreams should be focused upon. Sustained focus bear achievements (Keller, Jenks, & Papasan, 2005). Small businesses with visionary entrepreneurs are big businesses. Business vision motivates the entrepreneur to induce business growth through effective leadership, monitoring, and innovation. The intrapreneurs in a business should be motivated. Every idea raised by the employee should be listened to and assessed. These ideas make the small businesses big when worked upon.

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In entrepreneurship, the worst thing to do is to quit. Quitting is a failure and preparing to quit is preparing to fail. If a person avoids quitting then they don't fail. When the chances of survival in business present themselves there should be a development of new strategies to overcome the challenges. Instead of quitting change of strategy can fuel a business. Every challenge should be seen as an opportunity to make a new discovery or to modify the existing business strategies. Positive thinking, actions that are purpose driven and a culture of solving problem assist businesses to overcome the challenges and grow. Entrepreneurs are well aware of the market.

Even though the intrapreneur may implement growth strategies while the intrapreneur assist is the discovery of products and the improvement of production methods, the leadership in business is crucial. Business management is a unique, continuous and social process. The requirement for problem-solving for any organization are recurrent and thus continuous. Management starts at the planning stage and terminates at the control state. The process recurs as new problems arise. Dealing with activities related to groups makes management unique. The art of management involves the application of in-depth acquired knowledge. The desired results are as a result of the practical application in the business processes through positive judgments. The management should influence both the internal and the external business environment. While the external environment presents the threats and opportunities to the business the internal environment indicates the business weaknesses and strengths. The management should strive to convert the risks into opportunities and the deficiencies into strengths. Every decision made by the management should be as a result of critical and in-depth analysis of the problem. Knowledge from other disciplines such as sociology, economics, law, psychology, mathematics, law and statistics should be used during decision making while maintaining the focus on the goal.

The management of a business has several roles including organizing, planning, directing, staffing and controlling the activities within an organization. The management identifies tasks, groups them, divide the tasks into smaller subtasks, determine the group to perform the specific tasks and create structures in the organization to attain efficiency. Organizing also includes management span, authority delegation, and decentralization and centralization of authority.

In planning the management decides on the goals and the activities to follow to achieve the goal (Erasmus, Strydom, & Rudansky-Kloppers, 2016). All other functionality of the management relies on the plans laid down. During planning the vision, mission, goals, strategies, tactics, and plans on the operation are clearly defined. With clear plans, the management influences the workforce towards the ultimate goal. Motivation is vital when dealing with the workforce. The management must ensure effective feedback and interaction while issuing instructions and orders and while supervising the assigned tasks. All the required workforce should be brought to action for effective production. The management should ensure that the workers are brought on board on the basis of their performance. The non-performers should be eliminated as they drag the business progress. Standards should also be set and implemented through the management to measure progress and performance.

Marketing goals are set by the management. The set goals must be motivational and within the capability of the business for them to be achievable and realistic. The management of a business organization must focus on the market. In maintaining and expanding the market, strategies of marketing are employed. the organization must first ensure that they are aware of the target customers. Customer satisfaction is a vital contributor to the success of the business. A research on the market should be conducted to ensure that the right decisions are made by availing information on the goods in the market, the needs and the expectations of the customers.

Conclusion

People work best when they are comfortable and motivated. For all successful businesses, the business employees are treated as the vital components of the business. The business management must maintain healthy relationships within the organization across all positions. Motivation strategies such as innovation benefits, medical healthcare policies, achievement recognition, and appreciation should be put in place by the management. The innovative employees such as intrapreneurs can be motivated and supported by the provision of the necessary. The elements of employee's wellbeing such as community, purpose, physical, financial and social being contribute to the employee performance. The employees need to be empowered for capabilities and skills growth through learning on-the-job and education. Empowerment does not only ensure the growth of the individual employees but also widest the pool of knowledge and ideas for the business.

References

Burns, P., & Dewhurst, J. (2016). Small business and entrepreneurship. . Macmillan International Higher Education.

Erasmus, B., Strydom, J. W., & Rudansky-Kloppers, S. (2016). Introduction to business management. Pretoria: Oxford University Press Southern Africa.

Keller, G., Jenks, D., & Papasan, J. (2005). The Millionaire Real Estate Investor. McGraw-Hill.

Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.

Wagner, S., Goeb, A., Heinemann, L., Klas, M., Lampasona, C., Lochmann, K., & Trendowicz, A. (2015). Operationalized product quality models and assessment: The Quamoco approach. Information and Software Technology, 62, 101-123.

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Essay Sample on Management of a Business. (2022, Nov 05). Retrieved from https://proessays.net/essays/essay-sample-on-management-of-a-business

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