Business management combines an interesting mix of theory and practice, and it is a particularly good topic for management and entrepreneurial types to study. Finding a business management style that suits your personality and the nature of your business is both important and worthy of time investment, as being self-aware and being able to identify strengths and weaknesses of various approaches will enable more effective personal development and ultimately more effective management.
While many have their own individual business management styles, these are traditionally broadly categorized into three main classes of business management approaches.
Autocratic Management
Firstly, there is what has come to be known as the autocratic approach to management, which installs more trust in the leadership as opposed to the individual staff. This involves pulling rank and leaves employees in no doubt as to whom the management is or what decisions are being made. Rather than engaging employees within the decision making process, this business management style typically concerns businesses that require direct, effective leadership to produce results, often under pressure of working in a tough environment. Upon hearing the term autocratic, many tend to visualise a dictatorial approach to management. While that is perhaps the case, it is seldom as strict as this and it is often a necessary management style, for example in the armed forces or in a high-paced trading environment, where there is no margin for deliberation and group consideration.
Democratic Management
Alternatively, there is a business management style known as the democratic style, where employees are effectively engaged in consultation before decisions are made. While some consider this to be more motivating and more enjoyable to work under, it does nevertheless have its own disadvantages. Giving employees a say may undermine the authority of the management, and may ultimately cause inefficiencies in the decision making process. It is also time intensive, and perhaps not as effective in larger organisations with thousands of employees. While of course at a board room level this kind of decision making goes on everyday, it’s one that works most effectively in slower paced business where decisions can be fully deliberated and considered.
Laissez Fair Management
An alternative to those two business management styles and the third main category is what’s known as the laissez fair management style. This is by definition a more hands-off approach to management, which puts the trust of running the business within the hands of employees themselves, and allows a greater degree of autonomy than would otherwise be the case. While this is strong in creative industries, some business people find that this style of management can lead to a fragmented approach to doing business and is less organised and perhaps less professional.
Whichever business management style you liken yourself to; there are advantages and disadvantages of that approach. What’s important is not that you recognise which of these categories you fall under, but rather that you’re aware of the improvements that can be made to make your management more effective and efficient while also improving the relationships you share with employees at all levels of the organisation.
Watch the video related to business management
To become a manager, it is important to first make absolutely sure that it is right for you. Find out if you have the passion and desire to become a manager with advice from a career expert in this free video on business management skills. Expert: Debbie Benami-Rahm Contact: www.DBRcareerservices.com Bio: Debbie Benami-Rahm is the president of DBR Career Services, Inc., and provides her career expertise to individuals in transition to get unstuck and find career fulfillment. Filmmaker: Paul Muller
Help answer the question about business management
What is the different between business management and business administration?I had decide to go to college to study Business administration and I found a college close to my home but they don't offer Business administration, instead they offer Business Management.
Read the damn book.
The most important thing I learned in being a manager is respect. You must earn it. You can't buy it or force it.
Never try to be their friend.
Be kind, be helpful.
Explain, teach, give good praise when it is deserved.
Never pick favorites.
Never gossip.
Never talk bad about another associate.
Remember—-respect is earned…. and sometimes it takes a long time to earn it. Be honest, keep up with promises you make, and respect your employees. It's hard work, and there are so many other things in place to become a good manager, there isn't a rule book for it, it depends on what kind of person you are—rather you are a true leader or a follower. But never, ever allow yourself to get on a power trip—you will fall on your face.
My best way to reward, was to let someone know they did a good job. Be real about it! Don't just fake compliments, be really good and detailed about what it is they do that you think is good. And if they make mistakes, tell them they did, but then show them the right way and be respectful towards them. Tell them you are willing to help them to do their job better. They are your responsibility.
Just be a good person, be true, honest and respectful.
I am currently doing this type of degree, though I heard salary isn’t much.
I enjoyed this alot!!!! I just got my bachelors but there is still lots I need to learn
Toyota!
Hi Bijan – I am familiar with the British grading system and congratulate you on your successful academic achievements.
You are looking good for acceptance to UMd. All you can do at this point is keep up the good work and when you get your SAT or ACT scores, apply and see what happens.
Have you considered other schools as well? It is not a good idea to put all your hopes in just one place – you never know about admissions. For comparable schools, look at SUNY-Binghamton and SUNY-Buffalo.
Aye!
Sounds about right. I think that most executives that just learn "business" don't understand how their entire company works. I am a bottom-of-the-barrel factory worker, and I am constantly amazed at how ignorant the higher-ups can be. Economic smarts should be balanced by some mechanical knowledge and people skills, however vague.
stop blogging
thank u
The biggest problem with running a business is the competition. You have to better them. How can you do that?
Do the competition offer an "all you can eat" buffet or is it a matter of choose your entree and then that is that? You may consider "all you can eat".
Offer something free. Free drink if it isn't included, or offer a larger drink, larger plates, service larger portions in a togo box so the people can take it with them rather than throwing it away.
Advertise with $1 off a meal or something.
Talk to your local SBA and see if they have any ideas to beat the competition.
Your city probably does restaurant ratings. Is yours better than your competition? Can you offer healthier food?
Get the local paper to do a review and get a write up.
There is a lot of free publicity out there.
Good luck.
If you love apples… scream Aye!