The 4 basic points of business management

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Written by Marcial Varela
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More than 90% of business failures are due to poor management, mainly due to untimely decision-making. This percentage has grown with the rise of new technologies, which causes competitive advantages to be ephemeral. Given this situation, companies are forced to constantly innovate, without losing the essence of their brand, in order to survive and not be devoured by the competition. In this context, the business management of managers and owners becomes especially relevant.

Business management is the set of profitable measures and strategies for the company, that is, measures and strategies that seek to improve its productivity and competitiveness . This role is oman phone data usually performed by consultants, directors and managers. The key to the success of a business depends largely on efficient management and an adequate level of communication, which helps to identify the factors that influence the best results for the company and also to find problems in time to solve them.

What is business management?
The functions of business management, like many other functions within the company, are based on four main tools :

Business plan : a set of interrelated activities for the development of a company with the aim of achieving the planned goals. It is a guide that facilitates the creation or growth of the company.
Business structure : the human resources organization determines the responsibilities that correspond to each person within a company and the legal constitution of the company.
Accounting : studies the financial movements of an entity during a given period of time.
Checklist : A guide to preparing a complete business plan and determining whether the initial objective is likely to be met.


What qualities should members of the organization responsible for business management have?
Choosing a good business manager is essential , as they will be the person who will guide us in the basic aspects of our business activity. To find the ideal candidate, we spoke with three professionals who are fully familiar with management functions, as they have been working in this field for several years.