BUSINESS MANAGEMENT

Management as it is has no particular
definition. Various interlectuals try to defined
it as it stand.
E. F. L Brech – Is a social process which
basically consists planning, controlling,
cooperating and motivating so that expected
results are successfully achieved.
Henry Fayol– he says to manage is to forecast
and plan, to organize,to command, to co-
ordinate and to control.
F. W .Taylar -Management is the determination
of the overall policy of a business
organization. He is regarded as the father of
scientific management.
Management can therefore be defined as the
process of making other people work to
accomplish a task successfully.

THE MANAGEMENT PROCESS
1. Planning
2. Organizing
3. Directing and
4. Controlling
Others
5. Staffing
6. Delegation
7. Motivation
8. Co-ordination,
9. Communication
10. Decision making
11. Decentralization.

PLANING
Planning according to Henry Fayol is accessing
the future and making provisions for it.
Is the first principles or function of
management.
It therefore covers what, how, when and where
things are done in an organization.
Types of Planning
There are two main types of planning, these
are long term and short term planning.
1. Long term planning is usually use for
activities which take a long time to complete.
It spans a period of not less than a year and
more that five years.
2. Short term planning covers a few days,
weeks or months but does not usually go
beyond a year.

IMPORTANCE OF PLANING
1. It helps to avoid or reduce mistakes.
2. It also helps to know future trends in
business operation.
3. It helps to set targets against which
performance is measured to determine the
degree of success or failure.
4. It also serves as a check and a balance on
the performance of all workers.

ORGANIZING
Organizing is an element of management
process which puts pieces together and at the
same time, divides a group into individuals to
achieve a set goal.
Is can therefore be define as the division of
work into simple units, and determines the
grouping and structuring of activities into
convenient forms so that people can work
appropriately.
CONTROLLING
These element ensures that people are
performing according to rules and regulations.

Types of controlling
1. Quality control
2. Audit control
3. Budget control
4. Break even analysis
5. Credit control
6. Stock control
7. Production planning control
8. Work study control
9. Organization and Methods control
Elements of Controlling
1. Establishment of standard of performance.
2. Measure performance against standards.
3. Compare actual results against standards.
4.Take corrective action where necessary .

DIRECTING
To direct is to give orders and to see to it that
they are obeyed.
Directing as another important element of
management process which provides guidance
and supervision for subordinates to work to
achieve organizational objectives.
To direct is to motivate, stimulate, lead and
guide people who are expected to achieve
certain results or objectives.
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