Business Management

There are 8 Business Management Functions.

1. Product Development
2. Operations
3. Human Resources
4. IT/Systems
5. Customer Services
6. Marketing
7. Sales
8. Finance

It's also helpful to appreciate 3 management areas:

• Strategy - your overall approach of what you are going to do to accomplish your business objectives.
• Tactics - the specifics of HOW you are going to implement the strategy.
• And operations - the detailed management of tasks to execute the tactics.

Each of the 8 business functions listed above would have it's own strategy, which have tactics, which lead to operations.

Business Management ultimately covers many areas:   Performance Management. Project Management. Team Management. Operational management. Office Management. It just goes on and on, covering…

Three Dimensions Of Business Planning & Performance Review

• Product contribution - which products are the most profitable?
• Custmer contribution - which customer segments are the most profitable?
• Management contribution - which areas of management achieve the highest profits?

Let's consider business management from a practical and formal approach to projects…

Project initiation as a corporate manager

• First, take direction from the corporate strategy.
• Establish the Business Unit Strategy and do performance analysis.
  
• Identify a list of opportunities (big wish list)
  

Consider 2 broad project types

1. Customer visible (marketing, product development)
   
2. Organizational development

Discuss with the Business Analyst if necessary to gain approval on pursuing opportunities. (Juggle between resource constraints, deadline constraints, and the varied list of wishes).

Project initiation as a consultant

• Arrive at a conceptual agreement with the client
• Develop and submit a short proposal that captures the conceptual agreement
• Facilitate project management

1-       Once I understand how you work I will be able to write the Current Operating Model (COM) for "Stats".

2-       Based on your requirements and wishes I'll be able to define how you would like to work, in regards to "Stats". I'll then produce one or many Future Operating Models (FOMs).

3-       I will then produce a Gap Analysis (how to get from the actual process to the desired one). This is where I'll need to work with IT.

After establishing the desire, business approval, and obtaining proposal agreement, you can now implement the project.  See the Project Management page.

You can also continue with the time management article that's suitable for you: Time Management for Business Owners or Time Management for Team Managers.

By NathanFlame, for Organized Living World.