Business management– management of a business – 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.
Corporation– Legal entity incorporated through a legislative or registration process
Nonprofit corporation– legal entity incorporated for purposes other than generating profitsPages displaying wikidata descriptions as a fallback
Co-operative– Autonomous association of persons or organizationsPages displaying short descriptions of redirect targets – 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 governing an organized community
Nonprofit corporation– legal entity incorporated for purposes other than generating profitsPages displaying wikidata descriptions as a fallback
Areas of management application
Management application can be used 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 resultPages displaying short descriptions of redirect targets–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
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, 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 paradigmPages displaying short descriptions of redirect targets
Focused improvement– theory of constraints is an 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-constraintsPages displaying wikidata descriptions as a fallback
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
Requirements management– process of documenting, analyzing, tracing, prioritizing and agreeing onPages displaying wikidata descriptions as a fallback
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.
Security management– identification of an organization's assets and potential risks, followed by the development, documentation, and implementation of policies and procedures for protecting these assetsPages displaying wikidata descriptions as a fallback
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
Accounting management– Field of business administration, part of the internal accounting system of a companyPages displaying short descriptions of redirect targets
Managerial finance– part of the economic and business process is divided into investment, financing and risk managementPages displaying wikidata descriptions as a fallback
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.
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– 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.
Business plan– Formal written document containing the goals of a business
Business process– Systematic collection of tasks within a business
Business Process Modeling– (BPM) Activity of representing processes of an enterprise, so that the current ("as is") process may be analyzed and improved in future ("to be")
Approaches
Centralisation– Planning and decision making by a single authority
Decentralization– Planning and decision making by various local authorities
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.
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.
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
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.
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.
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.
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.
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.
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.
Business school– University-level institution teaching business administration– university-level institution that confers degrees in business administration or management. Such a school can also be known as "school of management", "school of business administration", or, colloquially, "b-school" or "biz school".
List of business schools– University-level institution teaching business administrationPages displaying short descriptions of redirect targets
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– ProfessionPages displaying short descriptions with no spaces
Business manager– Person who manages the business affairs of an individual, institution, organization, or company
Store manager– Person responsible for the day-to-day operations of a retail store
Senior management– Individuals at the highest level of organizational management
Chief learning officer (CLO)– corporate titlePages displaying wikidata descriptions as a fallback
Persons influential in business management
Pioneers of management methods
Jack Welch– American businessman (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.
Central administration– the leading or presiding body or group of people, the highest administrative department which oversees all lower departments of an organizationPages displaying wikidata descriptions as a fallback
Chairman– Leading or presiding officer of an organized groupPages displaying short descriptions of redirect targets
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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