Financial economics successful business management


 Managing a successful business

Successful business management is one of the means that facilitate the implementation of the planning process for activities in all professional fields in the establishments, and then it is keen to direct, coordinate, and monitor them. Therefore, business management is the basic rule for enterprises, which directs their departments, and ensures that all functions are executed efficiently, and business management is an art that contributes to organizing the available resources. In order to benefit from it in the best way to reach the required goals. [1]


The basics of successful business management

The description of business management - as successful - depends on developing an appropriate management plan, and includes the managers ’application of a set of important fundamentals in the work environment, namely: [2]


Case Study: It identifies every manager with a variety of skills. This leads to different needs related to these skills, the number of employees required, and the method of carrying out the work; Therefore, if the manager does not have sufficient skills to manage and lead the employees, but he is determined to try to implement his administrative role, he may find himself in trouble, it is important that the manager depends on the number of employees available in the facility to achieve the goals, and the way the manager deals with employees is an important matter, Which communicates to them a message bearing the extent of his respect for them.

Adequate Awareness: It is the focus of a successful manager on the work team he needs; By asking the following question: Are the employees required to be practical, observers, or thinkers? Meaning, does the manager want a work team that includes tactical employees or skilled analysts? It is also important that successful business management make sure to select talented employees and not abandon them so that results are not reached that may lead to the manager’s remorse at a later time.

Fostering engagement: it is the role of a smart and successful manager in the search for diverse ideas; Which contributes to the benefit of all business parties; Therefore, it is important for successful business management to depend on the presence of talented employees who contribute to the development of management; In order to get work done and take it to new heights.

Utilization of time: It is the effect of time on successful business management, which provides the ability to control the time taken to carry out the tasks of the enterprise; By applying work in a smart way, success in management is not only accomplished by tasks, but rather depends on acting smartly and getting more time.

Trust: is one of the most important fundamentals of running a successful business. Where any administration that is not dependent on the presence of trust will fail, one of the important tasks of the manager is to establish a work environment based on trust, and then make sure to strengthen its presence between management and employees.

Responsibilities of running a successful business

The role of a successful business administration depends on the implementation of a set of responsibilities that entail the success of the enterprise and its employees. The following is information about the most important of these responsibilities: [3]


Strategic Planning (English: Strategic Planning): is the application of successful business management to planning, seeking to develop its own goals, designing appropriate strategies, and organizing business resources. Internal data on organizational performance and external data related to markets and industry are among the most important means that help to Providing the needs of business administration; This contributes to directing resources and identifying organizational needs.

Decision-making: It is the responsibility of successful business management to make decisions related to the organization, such as decisions based on the application of some changes to suit the impact of internal and external factors on commercial operations, and from

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