What is business management?

Definition of enterprise management

The term enterprise management refers to the process of organizing and coordinating business, which usually includes many processes, including; Production, financing, innovation and marketing of machinery and materials, and the management responsible for planning, organizing, controlling business resources and directing them to achieve the organization or corporate policy objectives.

Business Administration Branches:

There are more than 20 branches of business administration, and the following is an overview of a number of business administration specializations.

financial management:

Financial management is concerned with finding a balance between the amount of profit and potential risk, so that if the company experiences some setbacks, the business remains profitable in the long run. This type of management includes planning, directing and coordinating with accounting, investment, banking, insurance, bond and other financial activities.

Marketing management:

Marketing management focuses on the practical application of marketing techniques and the management of company resources. Good marketing management uses company resources to expand the consumer base and improve their experience with their opinions. The company and increase the market value of the company There are also several areas of marketing management, including; Competitor analysis, customer analysis, brand management, and pricing. There are many areas of marketing management, including: competitor analysis, customer analysis, brand management and pricing.

Service management:

Service management This type of management varies across organizations and tasks. It focuses on management and organizational workflow. Service managers need to understand and manage the costs and risks involved, excluding the value and importance of services to customers. In addition, service management aims to enable service providers to understand the services they provide from an enterprise and consumer perspective.

Human Resource Management:

This type of management focuses on the appointment and management of all employees of the company, including; Ensure employees feel safe and ready to work in the company, provide services to employees, provide compensation, and other aspects of employee management.

Other branches of business administration These branches include:

  • Strategic management.
  • production management.
  • Planning and project management.
  • knowledge management.
  • Operations Management.
  • Information technology management.
  • public relations section.
  • Supply management.
  • purchase management.
  • Department of R & D.
  • Engineering Management.
  • Design management.
  • Quality Management.
  • Risk Management.
  • the management of change.
  • innovation management .
  • Equipment management.

Business Administration Levels:

The size of the administrative level in the organization controls the number of administrative levels, the larger the organization, the higher the administrative levels. In general, there are 3 management levels.

The details are as follows:

Participation in the day-to-day affairs of the organization, but these tasks are delegated to the managing director or called the general manager of the executive director, and other tasks of the higher management:

  • Setting goals.
  • organization of work .
  • Develop major resources.

middle management:

Middle managers are responsible for implementing the policies and plans set by the senior managers, and are made up of department heads and line managers. Middle managers perform multiple tasks, including: Business Execution. Maintain the standard and quality of the product and work. Maintain discipline among workers . Save time and resources . Providing workers with necessary instructions and information and guiding them during work.

Project management features

There are several characteristics of management, including:

  • Incorporation of all institutions: All organizations and institutions, whether for-profit or non-profit, need management to organize their activities, so the future of project management is in the process of development.
  • Goal Oriented: Management helps organizations to achieve predetermined goals easily and in a timely manner.
  • Continuous process: The existence of management is closely related to the existence of systems, and as long as there are systems, management is important, continuous and necessary in various areas such as production, human resources, finance and marketing.
  • Holistic: managing and managing people, to name a few, but also managing various processes within an organization, making it a holistic and multidisciplinary activity.
  • Solidarity: The management process is manifested in supervision, coordination and teamwork, because the organization consists of a group of individuals who work together to achieve the objectives of the managed organization and have good leadership qualities.
  • Dynamic: Different organizations can operate in many ways; As the political and social aspects and others. Therefore, the administration must have the characteristics of vitality and flexibility, in order to be able to formulate different strategies to deal with these aspects, taking into account the continuous changes in these aspects.
  • Intangible Strength: Management is run in secret, it is something intangible and tangible, but its influence and presence are reflected in the way the organization conducts its business. The role of business managers The role of management needs to define the essential functions that all managers perform, including: current assessment, vision, mission and available resources; To achieve organizational goals in a specific course of action, which is accomplished in the following ways: Defining short-term and long-term goals. Prioritize tasks. Establish a work schedule. Pass the details of the new project to the enterprise team.

Organization :

The organizing stage includes many tasks, such as: allocating resources and assigning the right employees to the right place; In order to achieve per-set goals, managers of certain departments may need to collaborate with other departments and create a productive environment that motivates employees to get work done. The manager must be able to reorganize in response to any new challenges; Like adjusting a project schedule. Oversight In this stage, managers evaluate the implementation of the plan and make the necessary adjustments to ensure the achievement of the goal, in addition to monitoring the performance of employees and the quality of work. Oversight provides feedback on the work done with suggestions for development. At this stage, material incentives can be provided to outstanding employees.

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