BUSINESS MANAGEMENT

        Organizing business activities is prior to all tools of Business Management. Without the organization of business activities neither we can plan nor control our business. Without control of major business activities, it will be difficult to direct them towards business objectives/Organizational goals.

Thewhole business management is broadly divided into the following threemanagerial tools.

  • Organizing & Planning Business activities
  • Controlling and directing Business Activities
  • Identify Business Objectives

ORGANIZING AND PLANNING BUSINESS ACTIVITIES

Organizing Activities

            Organization of business activities mean dividing them into groups and give them priorities. Assign each group of activities to a well expert team. The unskilled team will fail to perform that specific set of activities so make sure of their experience before assigning so that organizational objectives or goals are achieved. The same managerial tools (Organizing and planning, controlling and directing and identification of objectives) may be used on the team level as well.

Planning Activities

After organizing your business activities the next step is to plan for the whole business activity.

Common planning areasmay include,

  • Planning how to sale
  • How to control
  • How to manage
  • Planning how to achieve customers satisfaction
  • How to increase revenues
  • How to produce a quality product/service
  • Planning how to compete in the modern competitive environment

CONTROLLINGAND DIRECTING BUSINESS ACTIVITIES

           Controlling business activities meanto make sure wither all business activities run according to the specifiedplans. Controlling is implemented through supervisors, lead leaders or othermanagerial staff.  Aim of controllingbusiness activities is to keep the deviation gap less which is the differencebetween actual activities performed and the standard activities planned.

To ensure control themanagerial staff should guide, supervise and monitor the actual activities. Anydeviation observed must be analyzed and proper corrective measures should betaken to achieve organizational objectives.

IDENTIFYBUSINESS OBJECTIVES

               Organizational objectives/Business objectives are actually the ultimate goals/targets planned. Organizing and planning organizations and controlling them help to clearly identify business activities. Any business activity with defined organizational objectives helps to materialize organizational goals in an efficient manner.

                 This article is equally applicable to businesses already established and the new business. Planning is prior because without planning we can’t manage or define organizational goals. Organizational goals set in the planning before implementation may be termed as ‘ Standards’ while those observed are ‘ actual standards’. Controlling and direction are necessary to achieve the standards or keep the gap between ‘standards’ and ‘actual standards’ on a minimum level which ultimately help to define the organizational goals in an environment with limited available resources.