Tuesday, July 24, 2012

Business Management Tips: It All Begins with Good Planning

Managing a business is not easy; it’s more than just generating business leads and marketing products and services. Business managament actually consists of a series of steps also known as POSDICON (Planning, Organising, Staffing, DIrecting and CONtrolling).

  1. Planning. This process begins with an in depth list which takes into consideration all the likely variables which may take place in any business organisation. For example, your firm can aim for a goal of sales increase of 15%. Planning involves resolving how to attain that goal. Having a business plan is imperative since it apportions all the company resources. Proper planning is useful in such a way that the desired outcome can be attained within a given timeframe.  
  2. Organising. This step determines if the firm’s structure match with the profit plan. This ensures that the organisation’s qualitative functions is achievable and decisions can be made on who will be held responsible and what they’re responsible for, such as with telemarketing team leaders and quality analysts..  
  3. Staffing. Staffing is appointing employees with their respective duties and responsibilities for a position and how it suits with their organizational structure.  
  4. Directing. An overall effective direction stems from having good communication plus harmonious relationship within the firm. Is everyone moving into the direction which the management needs them to so that they can accomplish the preferred results? Proper communication within the company is essential.  
  5. Controlling. This is the directive the firm uses in order to guarantee results. For owners to be in control, they should measure employee performance regularly and accordingly. They must also know how to establish the standards, evaluate results, so that they can also reward good performance if their staff deserve it.