6 Fundamentals of Business Management.
Having passion for the business you are managing is very important for your success. But passion alone is not enough.
Core business skills are needed to properly launch your organization and survive over the long term.
Having passion for the business you are managing is very important for your success. But passion alone is not enough.
Core business skills are needed to properly launch your organization and survive over the long term.
Below are some of the skills.
1. People
Human resources are your company’s greatest asset and how you lead, motivate and inspire your employees can have a huge impact on the success of your company.
Because they are the ones who meet and interact with your customers or clients.
1. People
Human resources are your company’s greatest asset and how you lead, motivate and inspire your employees can have a huge impact on the success of your company.
Because they are the ones who meet and interact with your customers or clients.
If they're happy, it would be easier to tolerate and treat clients right.
2. Operations
What happens behind the scenes of a new product launch?
Managing a supply chain and making sure production meets demand under tight deadlines is critical to business success.
2. Operations
What happens behind the scenes of a new product launch?
Managing a supply chain and making sure production meets demand under tight deadlines is critical to business success.
In Operations Management is important as it includes; capacity planning, productivity analysis and improvement, quality assurance and the concept of lean management.
Operations Management is in charge of, tools and techniques for managing quality, computing cycle times for operations and organizing and configuring the various components of a supply chain.
3. Accounting
Proper management of the day to day accounting and finances of a business is critical to operations because it aids decision making.
Proper management of the day to day accounting and finances of a business is critical to operations because it aids decision making.
4. Strategy
How does your business compete in the industry?
How can you create a competitive advantage?
Are you able to adapt to a changing business environment?
How does your business compete in the industry?
How can you create a competitive advantage?
Are you able to adapt to a changing business environment?
The ability to take a high-level, strategic view of a business is necessary to identify opportunities and to stay ahead of external forces such as new competition and changing consumer demand.
In strategic Management, business strategy is developed, analyzing the competition and identifying ways that your business can gain a competitive edge is done.
Hence, its extremely crucial to every business.
Hence, its extremely crucial to every business.
5. Finance
The growth and maintenance of your business requires, making major purchases, investments, mergers and acquisitions etc.
Smart financial planning and decision-making create value for your organization and ensure its growth into the future.
The growth and maintenance of your business requires, making major purchases, investments, mergers and acquisitions etc.
Smart financial planning and decision-making create value for your organization and ensure its growth into the future.
6. Marketing
Marketing is much more than simply advertising a product or service.
You must identify and interact with your customer, stay on top of their changing needs and desires and deliver a strong value proposition.
Marketing is much more than simply advertising a product or service.
You must identify and interact with your customer, stay on top of their changing needs and desires and deliver a strong value proposition.
Marketing department helps with, segmentation, targeting, differentiation, product positioning of customers and much more.
Which of these departments do you need help with?
#woleoluyemi
Which of these departments do you need help with?
#woleoluyemi
