BUSINESS MANAGEMENT

Business management refers to where the business aim to effective utilization

of all the resources (it can be human, financial, physical, material, and
intellectual resources etc). it tries to achieve all the business goal with vision
and mission of the business. Business management is a continues process
where the business does not end instead it goes on for a longer period.
Business can be small scale or large-scale business. Essentially there are five
functions or stages under business management, and they are:
1.Planning: planning is the first stage or starting stage where the owner
decides to what kind of business he wants to start, where he wants and how to
start. Planning is the continues process of thinking to achieve the desired goal.
2. Organising: in this stage the owner will organise the things like designing the
business goal, organisation rules, vision and mission of the business and
employee recruitment procedure and their qualification etc. it also involves
developing Organisational structure as well as human resource.
3.Staffing: In this stage the owner will deals with human resources or the
people. It is a continues process of finding selecting evaluating and developing
their employees. This process may help in future as well. In this main process to
find the correct employee for a correct job. Where the employee’s knowledge
and their effort can be utilized properly.
4.Leading: Leading is motivating employees and understanding them better
like their demands and needs also their like and dislikes. once the staffing is
done the owner should know to manage them when there is a
misunderstanding between the employees. Leading is deals with human
resources.
5.controling: It is an active and continues process where owner monitoring the
employees, process and the business. In this process the owner will track the
results of the performance of all the resources of the business. And the owner
ensure that they are on right track and if its not he tries to make it right and
continued the business.
Example for business management: Mr. A wants start a business of textile
where he decided to start the planning for it. And he decided where to start the
business, how to start and when to start. And Mr. A decides the vision and
mission to start the business with the one-year goal. Once he decided he things
of the human resources and what kind employees he want or what
qualification should employees have. And he starts the business and gives the
recruitment advertisement to the paper where he mentions what is required to
get select and all other information (age, posts, qualification and salary etc). he
arranges the different types of departments and arrange all the employees
according to it. Mr. A brought all the resources like machines financial and raw
material etc. one year later Mr. A able to achieve the business the also able to
earn profits. so All these process are called business management.