Business Management may be described as the action of getting people to work together so that they may achieve the aims, objectives and goals of the business organization through effective use of available resources. Due to the fact that organizations are at the same time systems, business management may also be called the "human action" that facilitates the creation of producing useful outcomes from systems. As a pre-requisite to managing others one must first learn to manage oneself.
The functions of business management include to plan, organize, and look after the staffing, providing leadership and direction to control an organization or effort in order to accomplish a particular goal.
In Business management resources may be of varied types and include deploying and manipulating the following:
- Financial Resources
- Human Resources
- Natural Resources
- Technological Resources
Types of Business Management Styles
Over the years' different styles of management have emerged and the addition of servant leadership and work teams has changed the expectations from the managers and what mangers in turn look for in their employees.
- Traditional Management
In case of traditional management employees have a hierarchy that is inclusive of lower, middle and senior management. In case of such systems employees are expected to meet goals but the rewards go to the managers when those goals are met.
- Team Management
Under the arrangement of team management, the manager acts as a guide that helps members of the teams to work alongside each other in order to come up with solutions to problems but policy is not dictated and the entire team benefits from achieving goals.
- Servant Management
Under this approach the manager acts as a facilitator of supplying resources so that employees are able to meet the goals of a company. Such organizations view employees as authorities in their respective fields and limit the role of the manager so that they may work efficiently.
Irrespective of the management style the primary objective of managers is to enable the company to achieve its stated goals and maintain the policies and standards of the company.
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