Conceptual Framework of Business Management
Since the evolution of this world, Trade, business, Commerce, Export, Import, retailing, gambling, buying and selling had been the leading entrepreneurs in all the development of the planet. Same as the management has become a big question mark before us. Many scientists like economists, sociologists, public administration experts, public policy analysts, business analysts, human resource developmental experts, philosophers, astrologists, political panels and religious practioners have defined the business management in their own observation. Where the majority of them characteristically elucidate the business management as the symbolic value of planning, organization, leadership, control, capital, financial, machinery and technologicalism, human being assets as well as the nature’s resources.
Functions of Business Management
When we talk about the functions of business managing and its planning. The idea comes into our mind. What kinds of functions of business managements would be required for keeping the company alive? Therefore the art, talent and creative thinking’s would come into number one standards for the business managements. Where the business entrepreneurs would immediately and steadily take up the challenges and the certain precautionary measures for leading their business, industry, commerce, banking, trade, import, export etc into the booming cycle of the market. The important functions of the business managements are discussed step by step.
In a business firm, company or any industry. It is important for the management authority to keep the business in compatible level to the market standards. Here the think tanks of organization have to refer the tasks and planning’s to someone of the company’s employees. How a group of the company perform its duties and responsibilities. It is designed by the main panel of the company. All in all the process of systematization confirms the allocation and distributions of the numbers of tasks, to be given to the employees of the organization. The most important tasks should be assigned as to the employees of the departments. These are discussed as under.
- All the business reporting should be done in a most formal manner
- There must be a widen impression in the relations of the company’s ordinance.
- The authorities must be charismatic to really lead the industry.
- Decision making must be as the big responsibility of the think tanks of the business. They should make progressive decisions in a quick time so as to lead the industry or business into development.
- The hierarchy of the business employees must be perceived as the focal norm of the company.
- Manager must make all the business progression decisions in a interval grounds so as to avoid the ambiguity
- The research design of the business management and its policies should be made on the grounds of surety, authencity and harmonization of the all employee’s of business, banking, industry, trade, commerce, and any firm so as to review their daily, monthly and annually progress.
Division of Labor
What are the requirements of the business organization? What are their limits? What are their need and wants? How much quantity, labor and employee they need for their firm? I mean all these are important tasks of a business management. They should make the division of employee by setting their tasks, duties and responsibilities. Here come into mind some imperative and precautionary measures which a business management and firm must do.
- The division of labor and employees must be processed by cross checking the standards of education, specialization and expertise.
- Only the prior kind of specialization must be tasked by the business managements.
- The kind of talent, creativity and skills also should be in concerned among the employees and labors of the organization.
- Challenging and compatible tasks should be given to the employees so as to maintain the market standards of the business and its managements
Chain of Command
In business management, it is dam vital that the authority and command should be in the hands of those who are charismatic, vigilant, challenging and expertise in any competitive market economy and business trading system of the world. So they could make progressive policies and reviews for the employees and business firm.
- The authority should make comprehensive and commanding things to do for the employees in no time. So that the employees could get consistent for the firm’s progress.
- Decision must be made in no time so as to really make a proper utilization of the time. As a result we could see the benefits and profits of the company.
- As all the powers and decision makings are remained under the hands of the commanding authority. Therefore they must get scrutinized every day, week, month, and annually so as to look at the progress of the company.
- In business managements the delegation has the top importance for a firm. Because these are the clients who buy the company’s products, materials, things etc.so the authority should meet the delegation either it local or foreign on a regular basis to keep the business progressive.
The experts of the business managements must have the sort of charisma to boost the charm of business. They should be regularly on the policies and decision makings. Because they are considered as the most think tanks of the business, firm, industry, company, bank, commerce and any kind of entrepreneurs. Followings are guts of these charismatic persons of business managements.
- A leader calls a leader when he has the ability to really take the people in a significant way to follow his instructions willingly.
- A charismatic business manager is he who does suddenly numerous leading actions to the advancements of the firm in no time.
- A charismatic business oriented is he who does stun and affected the minds of people to buy his products of the company.
- A leader is he who has the core of pressure and to bear all the problematic situations of the company.
In business management the coordination has a very strong effective bond between the authorities and employees. a business can not be established and advanced until there lies a symbol of coordination. These important symbolic values of the coordination of business management are discussed one by one. Lets see
- Business harmony and coordination is such a beautiful symbol which creates a mushroom of art, talent, creativity, challenge, procession, progression, skills and prominence amongst the authorities and employers where their business gets rapid advanced and famous before the local and outer markets.
- Coordination is such an effective bond which mitigates all the conspiracies and problems of business managements.
- Coordination keeps the all social and cultural values alive which later emphatically boost the business.
- Team managements play a game of love, affection and care with one another.
In business management the control is such a devices, without which you can not hold your business in a more probable framework. It shows the functions of your skill, creativity, art, talent and harmonization. A proper control would lead you towards the phase of less risk factors and chances. So what is control? It is simply a process. Let’s discuss in a more influent way to really and easily understand this function of control of business management.
- Control is a constant procession which goes on step by step and with proper supervision.
- Control leads a handy managerial function which boosts the business in a apex.
- In business managements control dedicated your business in a smooth forwarding trend.
- Last but to the least control is a version of technology which is rapid growing over all around the world in business management fields.
As we have gone through the basic conceptual learning’s of business managements. We feel firstly that what really is the business management? How is it defined and explained by the different business philosophers? Why is business management important in its functional scenario?We could simply say that it is the field of planning, talent , art, skill, creativity, control, technology, IT, modernization, fictionalization, globalization, authentism, business romanticism, charisma, division of labor, development, procession and progression, charisma, and all in all coordination. Today business management has reached as one of the industrial set up and tycoons of the world. Billion of people are engaged with the skills and activities business managements. Even after the 9/11 incident, we see the big down fall of world’s trading economy but we could feel and say proudly that business management without a fact has its own symbolic,artistic,creative and skilling reality in the world. As it is the era of business management.
- Conceptual Framework of business management
- Functions of Business Management
- Division of Labor
- Chain of Command
- Concluding Remarks
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