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.

Systematization

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.

Charisma

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.

Coordination

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.

Control

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.

Concluding Remarks

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
• Systematization
• Division of Labor
• Chain of Command
• Charisma
• Coordination
• Control
• Concluding Remarks

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However, franchising is not for everyone and it is important to make a thorough evaluation before jumping into the franchising bandwagon.Much of the growth attained by businesses nowadays like fast food chains, bookstores and spas as examples can be rightfully attributed to the franchising strategies adopted by its owners.It cannot be denied that when a business starts to distribute franchises, publicity and identification are most likely to follow.People will start to recognize more of a particular business offering, whether it is a set of products or services.If the business is managed appropriately by the franchisee it may very well soon witness an increase in market demand.

If you have been planning to start a business, but want to do so with lesser risks, lesser assumption of control and responsibility and more calculated monetary investments than a new, start-up business, then looking around for a good business available for franchise is a feasible option.There are many businesses up for franchising nowadays and all come in specific and workable budgets.If you think you are ready for a better established business and can spare an extra amount in franchising fees and royalties, then you can opt for a more expensive franchise.

However, there are also business franchises that come with less expensive fees, and if you will be able to manage them fittingly, these may prove to be a wiser decision.Food stalls and food kiosks in malls are some of the examples of less costly franchise. Due to the fact that these types of businesses require lesser space and manpower, then this will be easier to manage for any new entrepreneur.More expensive and time-consuming franchises may include popular food chains or restaurants,bookstores,convenience stores,coffee shops,car rentals and traveling agencies.

Nonetheless,not everyone can be suitable for a franchising business.When you franchise a business, you do not own the business name or the business itself.You are merely granted franchising rights to be able to operate the business system under your management. The highest control and ultimate decision still belongs to the franchisor,or the one distributing the franchising rights.Even if you have already paid a franchising fee,royalties may still be required by the franchisor.Some business men do not want to have a franchise as their business because they feel that this confines them to the dictates of the franchisor, thereby limiting their planning strategies,as well as their creative inputs to the business.

The advantages on getting a business franchise basically center more on budding entrepreneurs who want a limited amount of risk on their business ventures as much as possible.Owing to the fact that a franchisor would normally offer support and even sufficient training to ensure that the business franchise takes off with minimum hitches, the franchisee will usually find this very helpful.It is the franchisor also which takes care of advertising the products and services,or the business brand name and this could be favorable for the franchisee.Franchising may not be for every entrepreneur but certainly, there are business men who have made their millions through this business option.

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The sources of revenue for these non-profit organizations are as follows:

• Aid from government organizations
• Donations from individuals and corporations
• Income from activities related to the organization’s mission
• Income from fund generating activities
• Financial investments such as stocks and shares of the companies
• Membership dues

The revenue sources of the government are as follows:

• Gross income from the income taxes paid by individuals and companies,
• Customs and excise duties,
• Other taxes such as sales tax, purchase tax, property tax, wealth tax etc
• From the dividends and interest

While making a financial analysis revenue is always kept on the top line due to its position on the profit and loss A/c at the very top. Revenue is also put at the bottom which denotes the net income i.e., revenues minus expenses.

How is the performance of a company analyzed?

The performance of a company is measured by comparing the company’s previous quarter’s revenue performance. The current quarter’s sales performance can be compared sequentially or on a year-over-year basis. This gives a clear idea on how much a company’s sales are increasing over time. While investing in a company, it is not enough to just look at the revenue performance for the current period. An investor wants to see the growth of his investment or improve over time. Comparison of financial statements of previous quarters will help the investors to have a much better idea of how well the company is functioning.

Revenue is calculated by multiplying the price at which goods or services are sold by the number of units or amount sold. Revenue is broadly classified into two type- Gross revenue and Net revenue. Gross revenue is the amount of income that a company actually earns during a specific period, including all kinds of expenses such as discount allowed, returned goods etc. Revenue in which all the expenses are subtracted is called Net income.

What is the need for a good sales team in an organization?

The sales function has a biggest impact on your revenue growth despite of the current size of your company. For all kind of businesses a good sales team is essential for effective sales and revenue growth. The revenue of your company will increase progressively over time with the help of a reliable sales team. But selecting a good sales team is difficult to recruit and retain. Thus the future of your company relies on your sales team and you have to choose its members with great care.

Recruiting the employees based on industry experience is one of the most common mistakes in filling sales positions. The employee must have left from some other company and you cannot definitely tell that he’ll succeed at your company. Most of the recruitment mistakes could be avoided by observing the candidate’s selling skills during the job interview. Since an interview is basically a sales presentation, it’s easy to test the candidate’s selling skills if you know what to look for. The three essential sales skills which a sales professional have to possess are

a) Prospect Qualifying

At the time of interview a good sales candidate will ask you qualifying questions, such as

What are the challenges which your salespeople face?

What are the most important qualities which you expect in your sales staff?

If he doesn’t ask these types of questions, he is not fit for your job.

b) Pre-Sales Preparation

An excellent candidate will come to the interview prepared by knowing all most every thing about your business. If he doesn’t know anything about your business, then he is not fit for the sales related job.

c) Closing the Sale

A good candidate will ask closing questions to move you towards an appointing decision. In the interview listen for closing questions like:

When would you like me to come back for the next interview?

When do you expect to make a hiring decision?

What are the different types of revenue?

The first line on any income statement is an entry called total revenue. It is the amount of money you had brought in to the business during a time period. It has nothing to do with the profit. The revenue figure is important because a business must bring in money to turn a profit. If a company has less revenue, it’s going to make only less money.

For new companies and new ventures that have yet to make a profit, revenue can serve as a measure of potential profitability in the future. Many companies calculate revenue and sales separately so that they can find out how much was generated by each division. Well defined and separate revenues sources help to analyze the income statement much easier. It allows more accurate predictions on future growth.

Total revenue is a primary method to calculate economic profit. Total revenue is the total money received from the sale of any given quantity of output.

Total Revenue = Price X Quantity

For calculating revenue for a perfectly competitive firm, which fixes a single unchanging price for all output sold, the calculation is relatively easy. For other types of firms, that charge different prices to different buyers for different quantities, the calculation becomes much more complex. Two other revenue measures which are directly related to total revenue are average revenue and marginal revenue. Marginal Revenue (MR) is the change in total revenue resulting from the sale of additional unit of the commodity. It is the additional revenue earned by the company through the sale of an additional unit. Marginal revenue is calculated by dividing change in total revenue by change in quantity.

Average revenue is the revenue earned per unit of output. It is nothing but the price of one unit of output. Average revenue is calculated by dividing Total Revenue with number of quantities sold.

Average Revenue (AR) = Total Revenue (TR)/Quantity Sold (Q)

Total revenue is often represented as a total revenue curve. Total revenue is important to the analysis of a firm’s short-run production decision. A firm tries to increase the quantity of output that maximizes profit, which is the difference between total revenue and total cost.

Total revenue can be represented in the form of a table or a curve. For a perfectly competitive firm, the total revenue curve is a straight line that emerges from the origin. For a monopoly, oligopoly, or monopolistically competitive firm, the total revenue curve is a “hump-shaped” curve, which increases and reaches at a peak and then starts declining. These are the different factors those involve revenue growth of your firm.

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