Business Management

What Is Management

Published at 02/28/2012 01:24:34


In business terminology, the process of managing all the business activities is called management. Management is a function which involves administration of various business activities. Management involves steps like planning, organizing, staffing, motivating, implementing, directing, coordinating and controlling. These steps need not be in the same order.

Step 1

Planning is the most important part of management - that is management is nothing but planning. For every business, extensive project planning is essential because without clear-cut planning it is very difficult to implement any project. Planning has to be done to know if the project is feasible or not. Proper planning helps a company to get the right estimate for the project that is to be carried out.

Once the planning of a project is carried out than the next step is organizing everything to complete the project. To organize the project you need to have the necessary staffing solution. Proper staffing should be done to implement the project.

Implementation is the most important part of management, in short that of project management. If you don’t implement the project properly, then the project will fail. Management is an important part of project execution.

To execute the project, one has to handle the staff with great precision by directing them in such a way that the project is carried out smoothly. Direction is necessary as far as project implementation is concerned and this is why proper resource management is essential.

Step 2

To complete the project on time it is essential for every project manager to motivate their team. Effective project management is necessary for fast and satisfactory completion of the project and for this, the project managers and the supervisors need to motivate their team members who are directly associated with the project.

In every company, top management is the one which has to motivate its staff, and they are the one who needs to provide an incentive to its staff so that the project gets completed on time. A financial incentive is the best way to motivate your staff.

Management is also controlling. In every project, the project managers have to control the project in such a way that it remains financially viable to their company as well as for their client. If the finances are not controlled, then the project will go overboard, and the project will fail terribly.

Controlling should be done from the beginning of the project. Project control is not just about cost control, but it is also about quality control. Every now and then, quality of all the materials should be checked so that they are of very high quality and there should be no comprise on quality because of cost.

Tips and comments

Management is about coordination. Coordination is essential for smooth completion of the project. In every company, there are various levels in the company hierarchy and everyone in the hierarchy from top to bottom needs to coordinate with each other to complete the project effectively and efficiently on time.

Always remember, finance and compensation are important part of management. Management is a quintessential part of business and to execute various projects with perfection the company has to effectively plan, organize, motivate, implement, direct, control and coordinate everything for completion of the project.


Most Recent Articles

  • What you need to know about anthrax
    Anthrax is a serious, life-threatening, infectious disease caused by the gram-positive, spore-forming bacteria called Bacillus anthracis. Under the microscope, these bacteria appear like lar...
  • Information on Management Systems
    In the rapidly evolving world of technology, we have to encounter with a variety of IT issues and these are getting complicated day by day. With so much technology around us, the demand for ...
  • 5 Things You Must Know About Jobs Management Consulting
    When it comes to management consulting jobs, there are a number of things that one needs to be aware of. These are basically the key pointers that will enable one to effectively perform the ...
  • 10 Amazing Tips For Management Practice
    Management can be described as the act of getting people together to accomplish set objectives and goals using the given resources effectively and efficiently. It involves coordination and o...
  • Organization Of Executive Management
    The structure of every organization has different levels based on management, and these levels are between executive and employees who are in the front line. The task of executive management...
  • Management Courses in Leadership
    There are various prestigious institutions that provide impeccable management courses in leadership. You can select the one for you by knowing whether it really stands out and has got someth...
  • Discover 8 Tips For College Management
    Many people enter college thinking that the pressures and stresses will not be problem for them.  They later realize that grades are slipping or they are missing classes. This is v...
  • Information on Management Technology
    Information technology is a discipline directly linked to computers, telecommunication, the retrieval of important data, and its transmission and storage. Management in IT is a branch where ...
  • What Are Stress Diseases?
    What is stress and how does it affects an individual’s health? This is a common question nowadays. Mental health professionals define stress as the physiological and psychological con...
  • Benefits Of Management Strategy
    Management strategy is very imperative in any business that you are undertaking. If you lack a management strategy for your business then it is very possible that you will not be able to han...
  • Rise To the Tip Management Access
    Access management generally refers to the regulation of interchanges, driveways, intersections and median openings to a roadway. Access Management, abbreviated as AM is the keyed up manageme...
  • Rules For Solution Management
    We always hear about solution management and most people don’t know what that means. Some take it literary as the management of solutions found for the company and choosing the one tha...
  • Jobs in Sales Management
    The sales manager is responsible for the company's sales force, the hiring and training of employees. Planning, creating, implementing, and reviewing the entire process depends on experience...
  • What Is An Application For Management
    Almost every career requires some sort of management. With the rapidly increasing technology, management is becoming tough. Regardless of the field, management applications have become essen...
  • Tips And Ideas For Practice Management
    If you want to start a business, or to accomplish your dream of making a great company you should learn for the beginning a few tips and ideas for practice management. First important issue ...