What Is Business Management

 

Business management will be very useful when you run a business activity. Management itself is a science that deals with various matters related to the arrangement, design and supervision of an activity including the business. The term management comes from the word in Italian language manggiare or that has a sense of control. According to Marg Parker Foler, management is the art of getting things done through the work of others. This art is also a way to achieve a certain goal that can provide benefits for the whole organization as well as some parties. In addition, management is also taken from a word in English that is manage which has a sense of organizing or managing.

Business has a definition as one type of activity that aims to sell products of products in the form of goods or services. Can be concluded that Understanding Business Management is an activity to manage the sale of products in order to provide profits of magnitude to the perpetrators. Business management is useful to help business people in running their business so as to avoid the risk of getting a loss in the business.

The business includes several interrelated components that relate to each other. Component components of the business include business management, branding, services and products, relationships and also customers. Business management is a key component of a business in order to succeed. Management has a goal to create a plan, manage and run a business. Another component of business is branding. Branding or brand making is an important component to provide an image of the business that will later support the achievement for business success. When making the brand is done properly, it will be more potential consumers who are interested in the goods.

Brand quality will also determine consumer confidence which will affect the income and profits that can be obtained from business results. Brand also has an emotional influence on society, that brand can give a different impression and point of view about a goods and producers. Services and products are also included in the scope of business management. Services and products are component components in the business that are offered to consumers and markets. The next business component is the partner, the parties involved in the implementation of business and play a role in the business of achieving the goals of success in business. The next component that is also very important in business management is the customer. Customers as consumers of the goods and services offered by a manufacturer to the market have an important role in providing benefits for the company. The more customers will surely be more profits earned by a manufacturer.

To be able to achieve the right business success, it requires a well-planned business management so that it can direct the business toward the right direction and anticipate the existence of losses that may be faced by a business. Starting a business management plan is not just about capital. Lots or at least capital does not guarantee a business will be successful with the right. But with the right management, it will be obtained efficient business implementation in using the available capital. To achieve efficient business management planning, it is necessary to carefully calculate the existing capital by adjusting to the operational activities of the factory or company until some time in the future. Creating the right long-term budget will be very appropriate in helping the company to achieve success.

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BENEFITS STRATEGIC MANAGEMENT FOR THE COMPANY

Strategic management is a process or set of decision making activities that have a fundamental and comprehensive nature, accompanied by the determination of how to implement (made by leaders), then applied by all ranks that exist within an organization to achieve the target or target. Management strategies combine activities that come from the functional part of a business to achieve organizational goals.

 Strategy management consists of nine tasks:

  • Formulating a corporate mission includes a broad statement of intent, philosophy and objectives.
  • Develop a company profile that reflects on internal conditions and capabilities.
  • Assess the company’s external environment, including both competitive factors and factors related to the general context.
  • Analyze the company’s options by matching the company’s resources with its external environment.
  • Identify the most desired option by assessing each option in terms of company mission.
  • Choose a set of long-term goals and a total strategy that will reach the most desirable option.
  • Develop annual goals and short-term strategies that are consistent with a set of long-term goals selected from the grand   strategy.
  • Implementing strategic options with budgeted allocation of resources that comprise tasks, people, structures, technologies and emphasizing reward systems.
  • Assessing the success of strategic processes as input for future decision-making.

The nine tasks above relate to the objectives of strategy management. The purpose of strategy management, among others:

  • To run and evaluate strategies that have been selected effectively and efficiently.
  • To evaluate performance, review, review, adjust and correct if there are errors or deviations in the execution of the strategy.
  • To renew the strategy formulated to suit the mining of the external environment.
  • To review starting from strengths, weaknesses, opportunities, to existing business threats.
  • To innovate products or goods to suit the tastes of consumers.

Why should companies implement strategic management?

The process of this management can produce the best decision, because group interactions that collect a variety of strategy decisions larger or more. In addition, the activity of strategy formulation can enhance the ability of the company in dealing with various problems at hand. Plus the involvement of employees in strategy formulation, it is useful in improving their understanding of productivity awards in every strategic planning, thereby enhancing employee motivation.

Application of strategy management can make corporate management more sensitive to external threats. At least strategic management can also prevent the emergence of various problems, both from within and from outside the company. Implementation of this strategy management can also improve the quality of the company in the face of problems.

Strategic management enables companies to carry out all operational activities more efficiently and effectively. Companies are so easy to adapt to changes that occur. But more core, companies that use the concept of strategy management will be more profitable than companies that do not apply it.…

WHAT IS BUSINESS MODEL

Want to develop a business that is currently running? All businesses must have a business model. If it is not clear business model then this will be difficult in the future. People often say doing business while looking for forms and finding shapes. Ideally, before actually starting a business must first determine what kind of shape. But what happens to most businesses is to walk like “running water”. Creating a new or existing business needs to be modeled business to be clear what will, is, and have done.

The business model is actually the frame of a business plan by thinking about how the company will gain profit or income by taking into account all business components. Simple understanding is how the company will make money. That’s what to think about! How to make money!

Someone named Alexander Osterwalder created a canvas in 2008, designed for a business model known as Lean Canvas. By using Lean Canvas this is the main activity in business looks clear and can be further explore to determine a good business model. The Lean Canvas looks sleek with 9 simple blocks but contains 9 key activities in a business model. This canvas is a good strategic management to be used in start up business or develop existing business. Entrepreneurs and intrapreneurs easily use Lean Canvas for their business model.

What are the 9 key activities? As the name implies Key Activities then this is an important activity to run a business. Without these 9 activities the business is not perfect. All parts of these 9 activities are equally important and should be considered carefully. Here are 9 key activities of a business model.

  1. Customer Segments: Who are our customers? What do they think, feel, see and do about our products?
  2. Value Propositions: What is interesting about the value proposition? Why do customers buy and use our products?
  3. Channels: How this value is promoted, sold, and delivered. Are the channels that we use so far work well to make money?
  4. Customer Relationships: How do you interact with customers through their experience of your product over the years?
  5. Revenue Streams: How does a business earn revenue from a value proposition?
  6. Key Activities: What unique strategies should a company have to compete with? What activities should the company do?
  7. Key Resources: What strategic strategic assets should a company have in order to compete?
  8. Key Partnerships: Who are the business partners who need to be partnered in order for the business to run well? Partnership which is not required for the company to focus on the main partnership.
  9. Cost Structure: What is the most important business cost? How is cost related to revenue?

These nine things need to be answered by both the individual business and the existing business. May nobody ever be left to think about going to a more profitable business!

 

The Benefits of Digital Marketing for Business

 

As a good businessman online or offline, marketing is an important thing to do. If a businessman does not market a product or service that is sold, this can be a constraint your business can not run smoothly, consequently will make business into bankruptcy. This is because no one knows your business, most likely people who know just around your area. Therefore, with the development of the times have a lot of business people prefer to market their business by utilizing digital marketing do you know what the benefits of using digital marketing for business? Here are 4 benefits of using digital marketing for business:

Broader market reach

The first benefit of digital marketing for business is that it can reach a wider market. With a wider market range, then the business you manage not only known from your own place, but can go out of town and even out of the country. The more extensive the market, the greater your business opportunity known to many people so that will get a lot of consumers. Therefore, for those of you who are currently pioneering business and want to grow fast business there is a good use of digital marketing as a container to market the business.

The cost is relatively cheap

Many people who think to get to know their business most people by using digital marketing will only waste money because it requires a relatively large cost. However, it is necessary for you to know that using digital marketing costs required relatively cheaper when compared with promotions through other means whether using brochures, billboards, or television media. Television media is a campaign that requires a large enough cost may be many times the cost of digital marketing. Therefore, for you especially beginners who want his business known to many people and the cost is only a little, you should choose digital marketing as a promotion.

Easy to see business development

Want to know the business development must be the desire of a Businessman, but not all businessmen can quickly know the development of business. However, with digital marketing, you will see business development easily because it does not have to wait for weeks. This is because you can see from the number of visitors who access your site so as to increase the number of subscribers.

Easily establish closeness with consumers

Consumers are people who contribute to your business to be successful. Therefore, to establish closeness with consumers is certainly very important. If you sell clothing products and sold offline, it will certainly be difficult to establish a sensitivity with consumers. Use the services of digital marketing agency Indonesia as one solution. With you using digital marketing, it is easier to establish closeness with consumers. This is because what is being distributed and consumer advice can be sent directly.

With you taking advantage of digital marketing for business, then there are many advantages to be gained. In essence, you must remain to provide good service and satisfy the consumers.

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