Business management degrees help students acquire basic business management skills. A good business manager must be able to practice the five functions of management, namely planning, organizing, leading, coordination and control. A business management degree provides practical applications of these five functions, so students are able to master the art of managing a business.
The first function of business management is planning. Once a plan has a clear target, the nest step requires establishing thresholds of achievement that lead to the plan's fulfillment. Determining the time on task and requisite resources must also be done when planning.
The business plan is the output of the planning function, but is not the end of the planning process. As the team carries out the plan, the manager reviews progress at recurring intervals and amends the document plan regularly. Once the plan is articulated to concerned parties, evaluation of feedback begins.
A manager's second essential responsibility is organizing. After reviewing the plan, managers delegate individual assignments to team members to create an environment of accountability and transparency. A team member expects his manager to not only give him an assignment but also to supply him with the means to complete it.
A manager's third responsibility is to lead his team well. A manager establishes credibility by demonstration self-confidence. The confidence of a leader comes back to him in the form of team loyalty and dedication.
Leadership that rigidly follows procedures for the sake of consistency is missing key qualities of good leadership, flexibility and adaptability. Leaders need to be open to new ideas and positive change, and must be able to inculcate qualities of innovation, transformation and progress to their team members. The development of a successful business demands that its leaders anticipate the ways in which they might more effectively use their abilities and resources.
When opportunities are apparent, leaders must use their vision to respond appropriately to change. Seeing a leader's proactive attitudes, an employee will assume responsibility to assign duties to the appropriate individual. Employees develop strong connections to leaders who do not assign them duties for which they are unqualified.
Finally, a supervisor must coordinate employees to work together and set an authoritative example. A team that works well together is often the result of a manager's ability at coordination. When a manger coordinates proficiently, his staff has the same vision of the assignment, a necessary condition to recording progress.
A successfully performing manager requires accountability through which he guides his staff and team to achieve commendable results. Employees cooperate sincerely with a manager who models passion, belief and a drive to succeed. Trusted and respected managers often have teams that work with him to accomplish challenging goals.
Each spoke in the wheel of excellent management, planning, organization, leadership, coordination and control, helps the wheel advance the cart of business. To facilitate and affect positively a business venture, management abilities must be studied and implemented regularly. Business management degree online offer flexible opportunities to gain and use these skills required to achieve business excellence.
