Whether you work for a large Fortune 500 company or a relatively smaller company, management of businesses face many difficult challenges. From budget issues to staffing shortages to motivating staff, managers of businesses have many issues to deal with, and need to find time to effectively balance them all. They sign off on office equipment or supply purchases, delegate on human resources issues, and make hard decisions every day.
Consult our handy list for helpful management links organized by topic.
The Business Dictionary defines management as organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. This definition gives a very broad idea of the vision that is involved with management. Looking closely at some of the basic functions of management such as planning, leading and motivating gives us a clearer picture of management.
Here are the basic functions of management:
Planning – A major function of management is planning. It is important to create business and marketing plans to advance a business, as well as adjust the plans when needed.
— Business Planning – gives an overview of the planning process along with step-by-step suggestions on how to create and execute the plans.
Organization – another important facet of management deals with organizing either a business or a department to function more efficiently. Organizing could entail adding services, personnel or organizational changes.
— Organizing Your Business – provides some tips for organizing your business along with information on related topics.
— Business Organizational Structures – reviews the various types of organizational structures available to businesses.
Staffing – a key component to profitability and customer satisfaction is staffing. Managers need to balance the need to service customers with keeping staffing totals to a workable total.
— Personnel Management – resourceful information on a variety of topics in personnel management. Leadership – being an effective leader is an important part of business management. An effective leader will be able to keep their head regardless of the situation, which will instill respect.
— Leadership and Management – a collection of articles from the Harvard Business School about leadership and management.
— Leadership and Management Differences – the differences between leadership and management are compared.
Control – an effective manager needs to have firm control of the business or department. The control should include delegating duties, but the manager needs to assume overall responsibility.
— Delegation – since one individual cannot run a business or department on their own, proper delegation of duties is important.
Motivation – effective managers understand that different employees are motivated by different factors. Knowing whether money, pride or praise is the most effective method of motivation is important when dealing with employees.
— Motivational Quotes – a resource listing motivational quotes for a variety of purposes.
— Motivational Tactics – a listing of fun tactics which can be implemented to motivate employees.
Time Management – one of the most valuable assets for a business is time. Managers need to ensure that time is utilized effectively by all employees.
— Time Management Advice – this resource has advice for small business owners to manage their time effectively.
— Time Management Tips – suggestions for effective time management from Ohio St University.
Risk Management – all businesses deal with a certain amount of risk. However, knowing how much risk is acceptable is an important management decision.
— Risk Management Definition – definition from the financial dictionary.
Financial Management – managers need to be involved in setting and monitoring budgets for the company. As managers they will have an immediate impact on attaining company goals.
— Budgetary Control – tutorial on accounting and finance for businesses. Marketing – management need to be involved in marketing decisions which will help shape the direction of the business.
— Marketing Tips – tips for branding and marketing businesses.
Ethics – being successful in business is the goal of all organizations. However, management needs to be aware of the fine line that could be drawn between right and wrong ways to accomplish goals.
— Business Ethics – resource from the SBA on ethics in the business world.
— Business Ethics – from the Wharton School on ethics in the business world.