Business Management

Business Management is one of the most important strategies in the business environment, as it guides the company to achieve its results, define its processes, avoid mistakes and help in the development of continuous improvements.

Knowing how to conduct and take actions that lead to the sustainable growth of the organization is a Each type of memory has its own operation, although all of them cooperate to carry out a complete memorization process. This is complex task. Therefore, it is necessary to understand the definition, importance and how to put into practice these concepts of Business Management .

Business Management integrates all areas of the company, its definition is associated with the set of actions and strategies that are applied to the business. With Business Management, it is possible to carry out the Strategic Management of the company and use financial , structural and human resources to keep everything in order.
Every company has some systems that characterize the elaboration of Business Management, such as: focusing on growth, improving the achievement of results, using tools that help managers to fulfill their strategic objectives .
The concepts of Business Management are linked in the way of organizing processes and managing the routineof work. And this can include the administrative, financial, human resources sector, infrastructure and all other areas relevant to expanding your business and raising the organization’s sustainable growth.

What is the importance of Business Management?

Properly establishing the strategic planning and structure of conducting business is crucial for decisions and guidelines to have positive impacts, which optimize performance, remain stable in the face of any situation and also the competition.
That is why Business Management is so important, it relates to all organizational processes, such as: strategic alignment , cost analysis, payments, hiring or dismissals, among other environments in the human, financial and structural sector of a company.
Using a business management system makes processes more efficient, brings more assertive results and projects are strategic and organized. It is fundamental to direct the company’s actions in the right path.
Correctly transmitting the organization’s mission, vision and values , carrying out quality and operations management are some examples. Its absence can influence employee dissatisfaction, loss of customers, failures in financial control, inefficient processes and management failures.

The pillars of Business Management

There are some essential items that make up business management in organizations and must be developed in all sectors of the business:

1. Planning and strategic map

Planning is fundamental for business, it makes it possible to put all projects into practice more assertively. Every action must have a specific strategic objective and deadlines to be carried out, so the plan and strategic map must always be used.
Without this, departments can go on opposite sides, not having a well-defined goal or organization. It is also important to carry out revisions and adjustments to modify possible deviations. The purpose of this is to reduce damage and increase results.

2. Monitoring and Metrics

During the development of tasks, it is necessary to monitor each stage of the process and identify whether the goals and objectives are being met as planned. Using questions related to the sector and thematic to be evaluated. You can ask about everything, such as beliefs about the job, dynamics within it, performance indicators at this point is essential for management to know exactly if the project is working.
Metrics elevate the organization’s effectiveness, productivity, quality, profit, and process performance. Using tools such as SWOT Analysis , 5W2H and Balanced Scorecard can also be of great help at this time.

3. Technology

Technology helps managers to develop processes and monitor the questions related to the sector and thematic to be evaluated. You can ask about everything, such as beliefs about the job, dynamics within it, performance of actions, in a planned and strategic way for decision making. ERP (Enterprise Resource Planning) or integrated management systems are platforms that perform this type of task in a single place and for different areas of the company.
These software store and share real-time data and generate reports for detailed analysis. Automating tasks with technology helps throughout business management and also in operations management .

4. Human Resources

People are the key resources of an organization. All employees need to have their potential, skills, abilities and talent put into practice within their function.
It is necessary to encourage the training of new managers who seek constant learning. A good manager needs to motivate his employees to deliver their best, dedicated to delivering the best results so that projects are carried out successfully.

The 4 types of Business Management

Get to know the main types of business management to understand which one might be better to suit what your company needs. Check out!

1. Meritocratic Management

This type of process tends to value, recognize and reward the employee for their questions related to the sector and thematic to be evaluated. You can ask about everything, such as beliefs about the job, dynamics within it, performance and performance within their function. With this type of management, it is essential to be careful not to develop a competitive environment among employees. After all, the employee’s growth in the company is directly linked to their merit and in a more individual way.

2. Democratic Management

Democratic or Participative management is a type of management that provides greater freedom for employees to contribute with new ideas and assist in decision-making. The work is done more together than individually, that is, the work is recognized as a team.

3. Excellence Management

The model of excellence in business management outlines strategies to guide the company on the right path that leads to excellence. This type of system is based on the methodology of PDCA ( plan, do, check, act ) and also PDCL ( plan, do check, learn ).

4. Focus on processes and results

As the name implies, it focuses on processes, that is, the pillars of this management are activities and the execution of actions by employees. It constantly seeks to evolve and improve processes.
Tries to identify the necessary details and make adjustments to keep everything in order. As for the results, the focus is really on getting there, devising the necessary strategies to achieve it.

The 6 tools used in Business Management

Some of these systems and methodologies can help in business management when it comes to qualifying and facilitating business processes. Discover the main ones:

1. SWOT Analysis

The SWOT analysis , or in Portuguese FOFA, evaluates the company in conjunction with the competition and defines Strengths, Weaknesses, Opportunities and Threats. Thus, it is possible to identify the positive and negative points of the management strategy.

2. BCG Matrix

The BCG Matrix makes a graphic analysis of the company’s values ​​and the solutions and products it offers. Thus, it is possible to define the best strategy for the business in relation to its market products.

3.5W2H

With the 5W2H methodology, a sequence of actions is carried out before putting it into practice in the project. Its acronym means: What (what), Why (why), Where (where), When (when), Who (who), How (how) and How much (how much). So the answers to these questions will define the goals and actions according to priority.

4. Balanced Scorecard

With the BSC , business performance is measured, based on indicators and analysis of strategic goals and objectives. It is possible to create a map and define a plan based on financial, market and internal process perspectives.

5. Ansoff Matrix

The Ansoff matrix is ​​a tool that analyzes and plans the strategies of a growing company, also helping in the risk analysis that may occur during the process. Thus, the matrix can be applied to existing or new products.

6. Pest Analysis

The Pestel or Pest analysis represents Politics, Economy, Social and Technology, that is, it is used to analyze the changes occurring in these business environments. In this way, it is possible to have a greater view of the external threats and opportunities that the company may face.
Anyway, as you may have noticed throughout this article, Business Management encompasses all sectors of a company, helping to maintain healthy growth and increase results. The concepts of this management can be applied to all types of business, the important thing is to know exactly which strategy will be applied.
Adopting business management is a competitive differential, it also helps in decision-making, to have a broader view and to prevent communication links with customers, suppliers and employees. NLP techniques can help improve all sorts of organizational problems.