Outline of business management

The following outline is provided as an overview of and topical guide to business management:

See also: Index of management articles
Business administration
Management of a business
Accounting
Business entities
Corporate governance
Corporate law
Corporate title
Economics
Finance
Types of management
Organization
Trade

Business management – management of a business. Business management rule #1 is delegation, assign the best qualified people to each position and trust your staff to do the work instead of trying to do everything yourself. It includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.

For the general outline of management, see Outline of management.

Overview

Types of organizations

Organization – Social entity established to meet needs or pursue goals

  • Company – Association or collection of individuals
    • Corporation – Legal entity incorporated through a legislative or registration process
      • Nonprofit corporation – legal entity incorporated for purposes other than generating profits
  • Co-operative – Autonomous association of persons or organizations – Autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise
  • Government – System or group of people governing an organized community, often a state
  • Nonprofit organization – Organization operated for a collective benefit
    • Nonprofit corporation – legal entity incorporated for purposes other than generating profits

Areas of management application

Management application can be utilised by a person or a group of people and by a company or a group of companies depending upon the type of management skills being used. Management can be applied to every aspect of activity of a person or an organization:

Self-management skills

Self-governance is the act of conducting oneself to get things done.[1] Effective management of oneself is a natural prerequisite of effective management.[2] Personal skills related to business activity include:

  • Managerial effectiveness – Capability of producing the desired result – getting the right things done. Peter Drucker reminds us that "effectiveness can and must be learned".[3]
  • Self-control – in the general sense, controlling one's own actions and states
    • Attention management – models and tools for supporting the management of attention at the individual or at the collective level (cf. attention economy), and at the short-term (quasi real time) or at a longer term (over periods of weeks or months)
    • Stress management – Spectrum of techniques and psychotherapies
    • Task management – Process of managing a task through its life cycle
    • Time management – Process of planning and exercising conscious control of time spent on specific activities
  • Self-employment – State of working for oneself rather than an employer
  • Personal resource management

General organization management skills
  • Administration
  • Agile management – Type of project management
  • Asset management – Systematic method of maintaining assets
  • Change management – Management discipline studying human transformational processes within organizations is a field of management focused on organizational changes. It aims to ensure that methods and procedures are used for efficient and prompt handling of all changes to controlled IT infrastructure, in order to minimize the number and impact of any related incidents upon service.
  • Conflict management – Process of limiting the negative aspects of conflict while increasing its positive aspects
  • Conflict resolution – Methods and processes involved in facilitating the peaceful ending of conflict and retribution
  • Constraint management – Management paradigm
  • Corporate governance – Mechanisms, processes and relations by which corporations are controlled and operated
  • Cost accounting – Procedures to optimize practices in cost efficient ways
  • Crisis management – Process by which an organization deals with a harmful emergency
  • Critical management studies (CMS) – Left wing approach to management, business and organization
  • Customer relationship management – Process of managing interactions with customers
  • Data management – Disciplines related to managing data as a resource
  • Design management – Field of inquiry in business
  • Earned value management – Project management technique
  • Human interaction management – Business management discipline
  • Integration management
  • Interim management – temporary provision of management resources and skills
  • Knowledge management – Process of creating, sharing, using and managing the knowledge and information of an organization
  • Logistics – Management of the flow of resources
  • Operations management – In business operations, controlling the process of production of goods
  • Organization development – Study and implementation of practices, systems, and techniques that affect organizational change
  • Perception management – Influence tactic
  • Planning – Regarding the activities required to achieve a desired goal
  • Business process management – Business management discipline – Ensemble of activities of planning and monitoring the performance of a process, especially in the sense of business process, often confused with reengineering
  • Program management – Process of managing several related projects
  • Project management – Practice of leading the work of a team to achieve goals and criteria at a specified time
  • Quality management – Business process to aid consistent product fitness
  • Requirements management
  • Resource management – Efficient and effective deployment of an organization's resources when they are needed
  • Risk management – Identification, evaluation and control of risks management specialism aiming to reduce different risks related to a preselected domain to the level accepted by society. It may include numerous types of threats caused by environment, technology, humans, organizations, and politics.
  • Skills management – Developing the skills employees need
  • Spend analysis – four drivers of globalization
  • Strategic management – Planning for a company's responses to external issues
  • Strategic planning – Organizational decision making process
  • Systems management – enterprise-wide administration of distributed systems including computer systems
  • Management science (MS) – Study of problem-solving in human organizations, The discipline of using mathematical modeling and other analytical methods, to help make better business management decisions.
  • Nonlinear management (NLM) – Superset of management techniques and strategies that allows order to emerge by giving organizations the space to self-organize, evolve and adapt, encompassing Agile, Evolutionary and Lean approaches, as well as many others
  • Operations management – In business operations, controlling the process of production of goods – Area of business that is concerned with the production of good quality goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is the management of resources, the distribution of goods and services to customers, and the analysis of queue systems.
  • Scientific management – Theory of management Theory of management that analyzes and synthesizes workflow processes, improving labor productivity.

Department management

Field- or organization-specific management

Business strategy

Strategic management – Planning for a company's responses to external issues

  • Structure – Way in which an organization is structured
  • Strategy – Plan to achieve goals in uncertainty
  • System – Interrelated entities that form a whole

Business analysis

Business analysis – set of tasks, knowledge, and techniques required to identify business needs and determine solutions to business problems. Solutions often include a systems development component, but may also consist of process improvement or organizational change.

  • Competitor analysis – For an organization to favourably operate in its industry , there is to unravel the activities of its competitors and their competitive strategies in order to create a sustainable competitive advantage to widen the market share. Afolayan,M (2020).

Goal setting

Goal setting – involves establishing specific, measurable and time targeted objectives

  • Goal – or objective consists of a projected state of affairs which a person or a system plans or intends to achieve or bring about – a personal or organizational desired end-point in some sort of assumed development. Many people endeavor to reach goals within a finite time by setting deadlines.

Planning

Planning – in organizations and public policy is both the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired goal on some scale.

Approaches

Feedback
  • Financial statement – Formal record of the financial activities and position of a business, person, or other entity

Mistakes

Concepts
  • Balanced scorecard –
  • Benchmarking –
  • Board of directors –
  • Business –
  • Business intelligence –
  • Business model – a profit-producing system that has an important degree of independence from the other systems within an enterprise.
  • Business operations – are those ongoing recurring activities involved in the running of a business for the purpose of producing value for the stakeholders. They are contrasted with project management, and consist of business processes.
  • Business process – is a collection of related, structured activities or tasks that produce a specific service or product (serve a particular goal) for a particular customer or customers. There are three types of business processes: Management processes, Operational processes, and Supporting processes.
  • Case study – is a research method which involves an in-depth, longitudinal examination of a single instance or event: a case. They provide a systematic way of looking at events, collecting data, analyzing information, and reporting the results.
  • Change control – the procedures used to ensure that changes (normally, but not necessarily, to IT systems) are introduced in a controlled and coordinated manner. Change control is a major aspect of the broader discipline of change management.
  • Corporate image –
  • Corporate structure
  • Corporate title
  • Costs – in economics, business, and accounting are the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.
  • Critical success factor –
  • Cross ownership –
  • Cultural intelligence –
  • Deliverable – contractually required work product, produced and delivered to a required state. A deliverable may be a document, hardware, software or other tangible product.
  • Enterprise modeling – is the process of understanding an enterprise business and improving its performance through creation of enterprise models. This includes the modelling of the relevant business domain (usually relatively stable), business processes (usually more volatile), and Information technology
  • Environmental scanning –
  • Focused improvement – in Theory of Constraints is the ensemble of activities aimed at elevating the performance of any system, especially a business system, with respect to its goal by eliminating its constraints one by one and by not working on non-constraints.
  • Fordism – named after Henry Ford, refers to various social theories. It has varying but related meanings in different fields, and for Marxist and non-Marxist scholars.
  • Futures studies –
  • Industrial espionage
  • Industry or market research
  • Innovation –
  • Leadership –
  • Lean manufacturing – or lean production, which is often known simply as "Lean", is the practice of a theory of production that considers the expenditure of resources for any means other than the creation of value for the presumed customer to be wasteful, and thus a target for elimination.
  • Level of Effort – (LOE) is qualified as a support type activity which does not lend itself to measurement of a discrete accomplishment. Examples of such an activity may be project budget accounting, customer liaison, etc.
  • Manufacturing –
  • Marketing research –
  • Middle management –
  • Motivation – is the set of reasons that determines one to engage in a particular behavior.
  • Operations research – (OR) interdisciplinary branch of applied mathematics and formal science that uses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems.
  • Operations, see Business operations
  • Organization development – (OD) planned, structured, organization-wide effort to increase the organization's effectiveness and health.
  • Organization – social arrangement which pursues collective goals, which controls its own performance, and which has a boundary separating it from its environment.
  • Poison pill –
  • Portfolio – in finance is an appropriate mix of or collection of investments held by an institution or a private individual.
  • Process architecture – structural design of general process systems and applies to fields such as computers (software, hardware, networks, etc.), business processes (enterprise architecture, policy and procedures, logistics, project management, etc.), and any other process system of varying degrees of complexity.
  • Profit –
  • Proport – combination of the unique skills of an organisation's members for collective advantage.
  • Quality – can mean a high degree of excellence ("a quality product"), a degree of excellence or the lack of it ("work of average quality"), or a property of something ("the addictive quality of alcohol").[1] Distinct from the vernacular, the subject of this article is the business interpretation of quality.
  • Quality, Cost, Delivery (QCD) as used in lean manufacturing, measures a businesses activity and develops Key performance indicators. QCD analysis often forms a part of continuous improvement programs
  • Reengineering – radical redesign of an organization's processes, especially its business processes. Rather than organizing a firm into functional specialties (like production, accounting, marketing, etc.) and considering the tasks that each function performs; complete processes from materials acquisition, to production, to marketing and distribution should be considered. The firm should be re-engineered into a series of processes.
  • Reverse engineering –
  • Risk – is the precise probability of specific eventualities.
  • Senior management –
  • Shareholder value –
  • Strategic sustainable investing – is an investment strategy that rewards companies that are moving society towards sustainability.
  • Systems Development Life Cycle – (SDLC) is any logical process used by a systems analyst to develop an information system, including requirements, validation, training, and user ownership. An SDLC should result in a high quality system that meets or exceeds customer expectations, within time and cost estimates, works effectively and efficiently in the current and planned Information Technology infrastructure, and is cheap to maintain and cost-effective to enhance.[4]
  • Systems engineering – is an interdisciplinary field of engineering that focuses on how complex engineering projects should be designed and managed.
  • Task analysis – is the analysis or a breakdown of exactly how a task is accomplished, such as what sub-tasks are required
  • Timeline – is a graphical representation of a chronological sequence of events, also referred to as a chronology. It can also mean a schedule of activities, such as a timetable.
  • Value engineering – (VE) is a systematic method to improve the "value" of goods and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements.[5]
  • Wideband Delphi – is a consensus-based estimation technique for estimating effort.

Business management education

Business education – Teaching the skills and operations of the business industry – teaching students the fundamentals, theories, and processes of business.

People in business management

Management positions
  • Business executive – Person responsible for running a business, or an aspect of it – person responsible for running an organization
    • Executive director – Chief executive officer (CEO) or managing director of an organization, company, or corporation senior manager of an organization, company, or corporation
    • Executive officer – Officer who leads an organization; typically second to a commanding officer in militaries high-ranking member of a corporation body, government or military
    • Music executive – Person making executive decisions over artists of a record label person within a record label who works in senior management. Also known as a record executive.
    • Studio executive – Employee of a film studio or corporation doing business in the entertainment industry
    • Executive producer – Profession
  • Business manager – person who manages the business affairs of an individual, institution, organization, or company

Persons influential in business management
  • Pioneers of management methods
    • Jack Welch – American business executive, chemical engineer, educator and writer (1935–2020), implemented six sigma throughout General Electric, leading to its widespread adoption throughout industry.
    • Stafford Beer – British management consultant and cyberneticist, introduced management cybernetics to British steel industry and was responsible for the first use of computers in management.
  • Business theorists

See also

References
  1. Drucker, Peter (March–April 1999). "Managing Oneself". Harvard Business Review.
  2. Power, Rhett (September 3, 2014). "Manage yourself first, then you can effectively manage others". Inc. Retrieved July 9, 2017. If you can't manage your own life, how can you expect to manage other people?
  3. Peter F. Drucker (2006). The Effective Executive: The Definitive Guide to Getting the Right Things Done. New York: Collins.
  4. "Systems Development Life Cycle". In: Foldoc(2000-12-24)
  5. Value Methodology Standard Archived 2009-03-19 at the Wayback Machine
  • Wing, Y, Hsing, M & Chen L (2008).Research on Business Strategy and Performance Evaluation in Collaborative Design. International Journal of Electronic Business Management. 6(2), 57–69.
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