https://managequick.com/education Small business management framework - Presentation of the small business management framework
Hello and thanks for stopping by to watch this short presentation that introduces our “BUSINESS MANAGEMENT” framework for small business owners and entrepreneurs.
As an entrepreneur or business owner, you need to be prepared to tackle anything.
Managing a business is a complex process and can be confusing.
You may be wondering… “ What is it that I DON’T KNOW about managing and growing my business?”
Our mission here at smallbizorg.com is to help you be successful in your endeavors.
So we summarized and adapted for YOU the BUSINESS MANAGEMENT framework that is taught in the MBA programs all over the world.
It will give you a COMPLETE MIND MAP of EVERYTHING that you need to think about in order to manage your business successfully.
With this knowledge in hand, you will be able to run your entire business just as top business professionals do.
Managing your business will require you to have your hands in everything, so you will need to have a solid understanding of each of the 6 elements of this framework, which are:
-HUMAN RESOURCES MANAGEMENT, and
-RESEARCH AND DEVELOPMENT MANAGEMENT.
While all are unique, they still rely on each other to run smoothly.
Let’s zoom in now in each of these management areas:
Strategic Management will guide you in the right direction as your company grows and changes.
It is where you will formulate goals, milestones, and ultimately a BUSINESS PLAN so that you know where you want to be in 1 year, 5 years, and 10 years
… and more importantly, how you will get there.
Marketing Management guides you to make educated decisions on the FOUR P’s of marketing:
- the PRODUCTS you will offer,
-your PRICING plan,
-how you will PROMOTE your product or service, and
-where will you be offering your products and services, (the “PLACE”).
These important decisions which should be done based on MARKET RESEARCH, will be reflected in your MARKETING PLAN.
Operations Management forces you to examine every business process in your company to discover problem areas and opportunities for optimization.
You will have TWO ultimate goals with your operations management:
- to ensure the QUALITY of the product or service you are offering and
-to make sure your business processes are running as COST-EFFECTIVELY as possible.
With this information, you will create and follow an OPERATIONS PLAN.
Financial Management will ensure that you:
-are making profitable decisions and
-are able to meet all of your financial obligations.
This is where you will:
-compile financial statements,
-decide what is worth to spend money on and what is not,
- manage your cashflows, and handle accounting and bookkeeping needs.
Human Resources Management is how you will recruit talented candidates and retain valuable employees.
On top of managing varying personalities, human resource management will help you juggle the regulations and expectations that come with being an employer.
Research and Development (or R&D) Management will
- help to improve your current products and services,
-develop new products or services, and
-discover more cost-efficient ways to continue offering your products or services.
By consistently incorporating R&D into your everyday business practices, you will position yourself to fill new markets as they emerge.
Managing every aspect of your business is a massive undertaking, but it can be done with the right guidance and resources.
For more details visit us at SmallBizOrg.com to find out EVERYTHING you need to know about managing your business, from start to finish.
PS: Our logo is a hexagon to reflect this framework and to remind you that there are 6 areas of business that you ALWAYS need to focus on to be successful.
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Small business management framework - Presentation of the small business management framework