business management

1 Business Management

Business

Management


Table of contents

Introduction…………………………………………5

Chapter 1

Advertisement and marketing for business………….18

Chapter 2

Human resource management………………………….44

Chapter 3

Financial for business………………………………….52

Chapter 4


Communication skills…………………………………….64

Chapter 5

Legal issues………………………………………………….90

Chapter 6

Logical planning……………………………………….98

Chapter 7

Roles of workers and managers………………………….108

Chapter 8

Targets and goals…………………………………………111


Chapter 9

Delegation…………………………………………..114

Chapter 10

Learning process…………………………………….118


Introduction

Business management is important for any type of business. There are

many types of businesses which are launched from time to time. Proper

management of any business is a key for success. If management is not

working properly for any business then it will lead to losses. There are

large and small businesses but management is important for them. If a

business is large then there will be departments for management. If a

business is small then the management is done by the owner.

There are businesses in which a person is required to do all the tasks.

That person is the owner and also the manager of the business. He must

work with care and perform all the tasks of management and other areas

in order to get success. Small businesses have no partners and there are

no special needs for financial accounts as the single person could use

any method for keeping records of transactions. In case of large

companies it is important to have proper financial accounts through


which information about the business could be obtained for all the

concerned parties.

Many partners are also working together in different types of businesses.

Many large companies have many members for which financial data is

required for working. Many businesses are small at the time of start. It

could also be the case that one person is starting the business. That

person will be the manager of the business and also the worker in that

business. All the tasks of that business are to be done by that one person.

With the passage of time if the person is doing well then he will get

more orders and more clients. When the work load will be increased

then the person will need help from others. This will be obtained by

hiring others and management of their tasks. This will increase the

working and profits.

If the business continues to grow and profits are received with time then

more people could be hired and the person could think of ways for


increasing the areas of the business. Many people are working alone and

not increasing their businesses too much for making companies. Profits

of small businesses are limited and they are not taking huge loads. There

are different limits for small businesses in which they are working and

they are not crossing those limits. Large companies are mostly made

with the first step and plans. These are having many people who are

ready to work together right from the beginning. A company could be

produced by a single person if he is increasing profits and expanding the

areas of working with time. Companies are also made by having many

workers together who have financial resources and plans for starting the

working. Business management is important for all types of businesses

and all the major tasks are done with the approval of management.

Many large companies are offering huge incentives for management

professionals because they have to take care of the whole business.

Success of businesses is dependent on ability of management. Many


businesses have got success in some time period due to good working

and ability of their management.

There are many businesses which have suffered huge losses due to bad

working of management. Starting of any business needs a lot of time for

establishment. Management of any business must keep in mind that this

is a time consuming process to have many clients and a lot of profits.

Starting a business is a first step and it must be managed properly so that

it could get profits with time. Management of large companies is

involved in all types of tasks in routine. These tasks are giving profits

and results if managed properly.

Many successful businesses are trying different methods and procedures

from time to time in order to increase the profits. Some procedures and

plans are not giving good results while others are giving profits.

Management of the business must work in such areas which are giving

good results. Activities of competitors must be checked so that the good


actions of the competitors could be used for increasing profits. Hard

working id required for businesses to get success.

Management of the business must work as per needs of the market

situation. Updating the working procedures is also important to meet the

needs of changing time. Management must introduce all the required

changes in the business models which will be used for future actions.

There are many fields in business and some businesses are gaining a lot

of profits while others are not making good profits. This is due to the

difference in mode of working. Management must check the good

policies of competitors who are making a lot of money in a certain area

and use them so that they can also get benefits.

Good management is important for any type of business. All fields are

profitable and get good results if management is working properly.

There are customers who are in need of good products and services from

businesses but they are to be dealt with care. If management is making


plans to deal in a good manner with customers then they are able to get

benefits and profits in some time period. Businesses are made successful

by hard working and a lot of time is required for establishment of a

successful business.

It is not possible to start a business and get many types of benefits in a

short time period without investing money and efforts. For getting

benefits it is important for management to work hard and use policies

which have proved to be successful for other businesses in the same

industry. Useful strategies are similar for any type of business. If

management is working well then success could be achieved for any

type of business.

Many small and large businesses are launched from time to time and

many types of agreements are done in the business world, which are

giving different types of results. All these are done through

management. Proper management of any business could open many new


ways for getting more chances of success and profits. Different types of

courses are available for those who are willing to work as professionals

in business management. In these courses different types of skills are

taught and environment is provided so that the people could learn the

practical implications and use the techniques of theory in real life. If a

business is successful then management must continue to work hard to

continue the success.

If management is not working hard after getting some success for the

business then the results will change with time. Management must make

sure that good plans and policies are used continuously for the business

in order to survive in the competitive world. Competition is increasing in

all types of businesses and companies are making different plans for

getting success through management. If management is working actively

then it can handle with all the problems with time.


Environment in the market is changing with time and it is required to

keep the working updated. If the management is working hard and

making reliable plans for success then it will result in earning a lot of

money and making huge profits. Management in a business must be

prepared for losses in different types of plans. It is not good to shut

down the business after suffering from some losses.

Losses are part of any business and those businesses which can suffer

losses are also given chances to make profits. Starting period of any

business is giving losses as it has to work hard for making clients and

reputation. Once the clients and reputation of the business are made then

the process of profits is started. This profit will continue till the

management of the business is working hard and giving reliable

products and services for clients.

There are many options for clients and they are ready to change the

businesses if they are not treated well. Management in business must


make sure that they are dealing with clients with good results of

increased profits and sales for a long term. Those businesses which have

good reputation are attracting many new clients. Online modes are

helpful for spreading information about businesses. There are many sites

which can be launched at any time and information about the business

could be shared with many people.

When the number of satisfied customers of any business is increased

then many new customers are also coming to the business. This process

is automatic and gives results in the form of more sales and benefits for

business. It is hard to have all the customers satisfied from a business.

There are clients who are not satisfied with the business but management

must try to have all the clients satisfied with the business. If there are

more good and satisfied clients of a business and some unsatisfied

clients then it would not be harmful for the business.


If the number of unsatisfied clients is increasing with time then

management must make sure that the policies are implemented for

controlling and reducing that number. Rules must be similar and fine for

all types of clients. If some clients are treated in a different manner and

others are showing resistance to this action then management must take

steps for equal dealings. Those businesses which are following certain

rules and treating all the customers in a fair manner are getting good

results in the form of profits and benefits.

Management of the business must make plans regularly which will be

used for increasing profits. If management is active then it can help in

promotion and success of any business. With the passage of time

competition is increasing for any type of business. Many new businesses

are launched and these are charging reduced prices in order to gain

customers. Old businesses are getting sales on the basis of their

reputation and satisfaction of clients. Clients are willing to try those


products and services which are at reduced prices. Quality is an

important factor for all types of items.

If quality of any product and service is good then it will be used even if

the price is more as compared with low quality items. Many businesses

are giving products in different price ranges which are different in terms

of quality. Clients have many options for dealing with businesses as they

can pay less for getting items with reduced quality. Management can

have a large variety of products and services for customers so that they

can attract them and increase profits. If clients are getting a large

collection of items then they are able to make some choice.

With more items it is possible to have sales. Management must make

sure that they have all the items in a particular industry. When customers

have many items from a business then they like to make choice. This

gives more options for users and they make selection of some items.

Quality is an important factor which is needed by customers. Clients are


not willing to pay less and get poor quality items. Special discounts and

promotions are liked by clients of all types. Management must launch

different types of schemes so that they can attract clients through sale

options.

When clients will be given offers in the form of items at reduced prices

then they will get instant results in the form of more sales. Clients are

willing to invest on items which are of a high quality but available at

reduced prices in sales or discount schemes. Management must continue

to launch promotions for clients through which awareness could be

increased. When awareness will be increased then the management will

see benefits in the form of sales and profits. Clients are comparing offers

from different businesses before making decisions for getting products

and services.

Good reputation is obtained through hard working by management. If

the business is new, then management must use different modes for


advertisement and increasing awareness. When the business is old then

the management will not need to have a lot of investment in

advertisement as awareness will increase automatically through good

clients. Some investment in advertisement is helpful for keep

engagement of new clients for any type of business.


Chapter 1

Advertisement and marketing for business

Business management is responsible for making sure that the business is

advertised properly. It is important for any business to have success that

it uses advertisement. There are many modes of advertisement and

marketing. Business management must choose the desired modes for

starting marketing programs which will increase awareness about the

business. In starting time of any business it is important to use different

modes of advertisement.

Businesses could give ads on television in order to increase awareness.

Online modes could be used for advertisement purposes. Businesses

could make their sites on which information could be given. When

awareness about the business is increased then there would be more

clients and with more clients there would be more chances of success. In

start it is required to rely on advertisement in order to get clients.


If the business is providing good services and products for clients then

they will advertise the business and also come back for more products

and services in future. If the business is not good at working then the

clients will come for the first time due to advertisement and then never

come back. Business management must make sure that the business is

providing the desired products and services to clients so that they can be

attracted and keep coming back for more items in future. It is important

to give useful information and contact details about the business on the

website.

Many people are using internet so this is a good mode of advertisement.

Business could use online and offline modes of advertisement so that

more awareness could be provided to clients. Chances could be given

through website of the business to engage in dealings with the business.

This will give more chances of getting clients when the business has

both online and offline modes of dealings. Budget must be made for


advertisement by business management. It is not good to invest huge

amount which is not in the budget of the business.

It is required to take start with small amount in different advertisement

channels. Then those channels which are giving good results in the form

of awareness and clients could be selected and other channels could be

left. This will give benefits in the form of controlled investments and

more clients with some time. Effective advertisement will give more

clients in a short time period and the business will have to prove its

worth with good working with clients for long term working relations.

Clients are looking for good products and services and if they are given

a good deal then they are not going to refuse it. Management in business

must make sure that they are advertising the products and services in the

manner which is achievable. If the advertisement is giving different

details than the actual items then it will lead to dissatisfaction and bad

reputation for the business. Management of any business needs to have


proper advertisement in starting period. Even if the business is old then

the advertisement requirements are still there as new clients could get

information about the business through proper advertisement.

There are many modes of advertisement which can be used.

Management must make selection of the modes which are getting a lot

of engagement. If the business is dealing in different items then some

promotion from time to time in the form of sales could be helpful.

People like to save money on their purchase of items. When they are

given options of sales with reductions in regular prices then results are

obtained in the form of more sales and benefits.

Management must make sure that the items in sales are presented by

setting a certain margin in profits. Prices in sales are reduced and profits

are also reduced in order to increase the sales. When the sales are

increased then management is able to recover the costs and have some

profits. It is important to highlight the sales and promotions in media and


different sources. When people will get information about the openings

of sales then they will come and check the stuff. Displaying of stuff in

sales is also very important. Sales are for promotion and advertisement

must be done so that people could come and get the items in sales. This

sales period will help the business in increasing profits and also attract

many new customers.

All the items in the business are not provided in sales and some items

are presented which will be for checking and engagement from users.

Many businesses are using television ads for marketing and

advertisement. Channels in television are watched and liked by people.

If ads are shown on them then it will help in a lot of exposure and

information for users. Management must make selection from the

desired types of ads which can be beneficial for the business.

Some ads are costly and more expensive as compared with other ads. If

the business is new then it must take start with cheap and economical


ads. This will give benefits in the form of exposure and awareness in

people. Many people are willing to try the new business and check its

products and services. In start it is important that the charges are reduced

so that customers could be attracted. It is also a form of advertisement

that reduced prices are charged for a certain type of products and

services. When clients are seeing that they can get the same products and

services for reduced amount as compared with other suppliers then they

check the items from the new business.

Then the matter of quality comes and if the products and services are of

reasonable quality then the clients will come back for more and also help

in advertisement to others. Online modes of advertisement are done

through different ways. Businesses could make their sites and also

launch affiliate programs in which certain commissions could be given

to people. Many people are looking for affiliate programs which can be

used for getting links. These links are unique and for checking of

progress of any worker. Management could launch a website for the


business and promote it through affiliate programs. It is important to

have a professional look for the website.

Many people will check the website if it is properly advertised and

spread in the online world. Affiliate marketing will give a lot more

exposure for the business and many new clients will be checking the site

in some time period. Management must make such a site which is

providing options so that users could start dealing at any time. There

must be online and offline modes for dealings with the business.

Management must give contact details through which users could have

immediate contacts and communications.

If communications is received from customers and people from online

modes then management must make sure that all the queries are

answered and responded in time. This will be helpful in increasing

satisfaction and trust among clients and increasing sales and profits. If

management is not taking care of clients and not responding to their


queries then it will be a bad impression. Management can choose the ads

on papers for their business. These ads could be printed and spread by

sending them in houses of people in the nearby areas. Ads on papers

could be attached on walls at prominent places so that users could check

them and start communications with the business.

Management is having many options for advertisement for the business.

Newspapers could be used for posting of ads for business. There are

many newspapers in which ads can be posted for increasing awareness

about the business. Management must check different options so that

they can make reliable choices and have investment for saving money

while getting a lot of exposure. Small ads in newspapers are costing

some money as compared with large ads. Management must check the

budget for advertisement and make the investment in this area for

increasing awareness.


Large ads are getting a lot of attraction from people but these are costly

as compared with small ads. Management must make selection of the

leading newspapers in which ads to be shown for a lot of exposure. Ads

could be printed on large banners and these could be placed on

important places. Many people will check the ads and get in contact with

the business if they are in need of products and services. Management

must make sure that the presentation of information in ads is realistic

and the business is able to provide the products and services as

advertised.

Customers will contact the business as per the ads and if they are getting

the required items then they will be satisfied and this will be good for

the reputation of the business. There are businesses which are promoting

a lot of items in ads but in fact these are not able to provide them to

clients. When the clients are coming in contact with such businesses

then they are disappointed as the presentation of the business is not as


per working. This is bad for the reputation of the business and

management must make sure that such practices are not used.

For a good ad it is important to include all the items which are readily

available. Management must give contact numbers and addresses on

which clients could reach and start dealings. Timing for opening and

working of business must be indicated on ads. This will be helpful for

remaining safe from disturbances and inquiries from clients about time.

Active contact numbers must be given on ads so that clients could call

and get further details as per needs.

If the contact numbers on ads are not working, then it will be bad for

reputation of business. There are professionals who are providing

advertisement and marketing services for businesses. Management must

make sure that they are dealing with reliable professionals in order to

have a lot of exposure. Online professionals could be hired for some

advertisement so that messages from businesses could be shared with


many people. With increased exposure for any type of business in online

or offline or both modes the chances of business are increased.

All types of items are required by clients and they are looking to get

them in routine life. There is a need to advertise them properly by

businesses. Management has many options in advertisement of their

products and services and all are useful in many ways. Important thing is

that the management must make such ads which are giving details to

people. When details about the working of the business are spread

properly then chances of getting new clients are increased.

Free samples from businesses could be helpful for advertisement. If the

quality of items in free samples is good then people like to try the paid

items from the business. It is good to give free samples in start so that

the quality of items could be checked by people. If people will like the

quality of free samples then they will be happy to invest for getting paid

items from the business. Management could highlight the sales and


special discounts from the business for clients. This will increase the

exposure and get a lot of clients for the term of sales.

When many people will come and check the items from the business in

the sales period then sales would be increased. This will give chances for

increasing sales in normal period as people will get information and

awareness. Ads can be made for the business in the form of videos.

There are many sites on which videos could be launched for free. Some

investment is required for making ads in the form of videos.

Professionals are available who are ready to make ads for businesses and

present them for people.

Many people are searching for different types of videos on internet and

inclusion of a promotional video is giving a lot of exposure. Professional

presentation of any business in the form of video is giving good results

in the form of advertisement and more chances of sales. Ads can be in

the form of articles. There are many professionals who can write articles


about businesses. Management could hire such professionals and get

writing services about their business.

This will help in promotion and increase in awareness. Articles and

contents about the business could be posted online and also offline in

different sources. Companies could use the written materials in their

newsletter and also on their site for increasing exposure. Management

must use such modes of advertisement which are in its budget. Proper

financial resources must be allocated for investment in advertisement

which will help in continued exposure for some time period.

Many famous businesses are also using advertisement plans in order to

continue the process of advertisement. Management can increase

advertisement for some days by introduction of sales period. This will

give benefits for businesses and people will check the stuff in sales

period. When more people will check the items then they will become

regular clients if the quality of items in sales is reliable. Management


must make sure that the items in sales or at special discounts are helpful

for users and these are not for wasting their money.

Clients are not going to pay for wasted and bad items. They are looking

for top class items which can be used on payment of reduced prices.

There are sites on internet which are giving advertisement services

through clicks. People are given some amount for clicking on ads and

viewing them. These are also helpful for advertisement purposes. Some

sites are giving services for advertisement through which links can be

exchanged. People are seeing links of a site and in exchange they are

given credits.

These credits are used for promotion of links of their choice. Many

people are sharing affiliate links in such sites for getting exposure.

Credits could be purchased on such sites in order to increase exposure. If

the presentation of site of any business is good and useful for visitors

then they will check details by clicking on the site. Links of sites could


be places on search engines on payment of some amount. This will give

a lot of exposure and chances of sales for businesses.

Many people are using search engines in routine and if they are seeing

ads as per their searches then they will check those ads. Search engines

are charging on the basis of number of clicks. If people are not clicking

on ads then the business is not charged for those visitors. Complete

reports are shown to people who are using such services. Management

of business could use such services in order to show their ads on search

engines. Results could be measured in some days when the ads will be

live and clicks are received.

It is important to present the ads in a professional manner on search

engines. Keywords must be used by business management so that the

users are displayed ads when they are looking for the same products and

services. It is not good to show that ads for different keywords as this

will get clicks but chances of sales are reduced. Professional


presentation of ads on major search engines could result in a lot of

exposure and increased awareness. Advertisement services are provided

by different types of sites which can be used as per needs.

Online advertisement for any business is not requiring a lot of

investment but it will only advertise to those people who are using

internet. If offline advertisement is used in the form of a large banner at

a prominent place then it will get a lot of exposure as it will be seen by

the local community. Investment is huge in a large banner for a certain

time period at a prominent place.

If the business is dealing in such items which are to be given to local

community then it can use ads in the local community. Online modes are

also useable as these will give details for users in the form of methods

and areas of dealings. Information could be increased about the products

and services of any business by using online modes of advertisement. If

ads are on television then management must check the options which are


provided by professionals. For such ads the time and type is important

for the ads. Management could check the options from professionals and

launch the ads in their budget.

Management could get options for professional presentation of their ads

to a lot of people. This will give them a lot of exposure and more

chances of sales. Different types of ads on internet are for giving

information to users. These ads are not related with the contents on the

sites and also getting clicks as the presentation is of a professional

nature.

People are in need of different types of products and services and they

can be attracted through good ads which are presented in a professional

manner. Management of any business could check options for starting an

online system of ads. This will increase awareness among people and

they will check the details. When more information about the business is

shared with outside world then more chances of dealings will be


obtained. Special offers from the business must be provided to visitors in

the online modes so that they can click on the ads for getting more

details.

Management of any business could hire professionals so that their sites

could be optimized on search engines. Search engine optimization is

helpful for showing any website on top of search results. When the site

is shown on top of major search engines then many people will check

them and visit them. With more visits on the site the chances of getting

more exposure and sales will be increased. Many large businesses have

websites on which many people are visiting and checking details.

Management must provide options for visitors through which they can

engage in business and dealings through the site of company.

This will increase the chances of dealings through the site of company

and many people will get engaged. This process will give good results in

the form of increased awareness and many new clients who will come


back again and again. People on internet are checking sites which are

shown on top of major search results as a result of their searches.

Professionals are ready to work for any site and show it on top of search

engines. Management could hire professionals in order to make the site

of the business and also optimize it.

This will give a lot of exposure and advertisement for the site and results

would be in the form of profits and sales. More clients could be attracted

to any business through proper advertisement on internet. Businesses

can get a lot of exposure through social sites. Many people are using

social sites and they are ready to share different types of links on their

profiles. These are also working as professionals for sharing links with

their followers.

Management could consider about making a page on social sites. This

page will help in getting many people who will become followers.

Management could launch new deals and offer on social pages and


spread information. This will result in a lot of exposure on internet and

many new clients will start dealing with the business. It is important to

have a lot of exposure for business pages on social sites.

Those pages which are many followers could be used for increasing

awareness about any business. Many pages on social sites have fake

followers and these are not going to give benefits. Management must

make sure that they are dealing with real followers in order to get a lot of

exposure. If the followers for any page on social sites are not real then

they will not help in advertisement. Fake followers are just taken in

order to increase the chances of getting real followers.

Those pages which have many followers are attractive and real followers

like to follow them. Professionals are also available on internet, which

can help in offline advertisement. Management could select the

professionals on the basis of their particular field. This will give benefits

for getting targeted traffic on the website of the business or the social


page and more engagement in the form of more sales. People are

clicking on links on internet for getting information on different topics

as the information is free and could be checked at any time.

Management must use online modes and also the offline modes for

increasing awareness among people. Professional presentation and

effective details by any business are helpful for increased chances of

business and sales by any company. Management is able to check results

in some days of starting the online campaigns for businesses.

Advertisement and marketing done on internet is instant and giving a lot

of exposure.

Ads about different types of companies are posted on different sites from

time to time. Those sites which are used by many people are making a

lot of money through ads. Social sites are used in routine by many

people therefore many ads are posted on them. Management could invest

some money in order to start the process of advertisement on social sites.


Without investing money on social sites could take a lot of efforts from

management in order to make pages with many followers.

You can see offers for advertisement from many large companies and

businesses which are for promotion. These offers are in the form of

items which are provided for some payment. These charges are reduced

than normal rates so that people could come and check the items. Many

people like to have offers in the form of sales and the like promotions.

You may have seen businesses which are asking for a lot of money for

routine items.

Management of such businesses is launching promotional programs in

the form of sales and discounts. These are offered for promotional and

advertisement purposes. During the time of advertisement the number of

sales is increased and many clients are visiting the business. During

those times a lot of advertisement is achieved by the business and this


helps in increasing awareness. Sales are also offered by such businesses

which have normal working in routine times.

Management is offering sales so that more clients could be attracted and

more promotion could be obtained. Research has shown that people are

hardly taking action in favor of any business when they are seeing an

advertisement for the first time. When people are seeing same

advertisement repeatedly then they are engaged in dealing with the

business. This is helpful in increasing sales and advertisement for the

business.

Management must use different ways for increasing advertisement. It is

not possible to have a lot of exposure without doing any efforts. In start

any business is in need of a lot of advertisement so that people could get

information about the business. Management is also responsible for

making sure that people are getting information about the business and

they are satisfied with the products and services.


Clients could be used for advertisement when the business is providing

good items to them. With many good items it is possible to have a lot of

advertisement through clients. Some businesses are using images with

details about the offers and items for users. This mode of advertisement

could be seen on important roads in huge amounts. Many banners of

same sizes are printed and displayed on side of roads. This gives a lot of

exposure for the business and advertisement is achieved which helps in

increasing the number of clients and sales for the business.

Printed papers could be used for advertisement which can be given to

people by hand. This mode of advertisement is also helpful for

increasing awareness. People will read the papers and become customers

of the business if they are interested. Some investment is required in

such mode of advertisement so that the papers could be printed and

distributed to other people. Some people could be hired for this work by

management.


These people will be responsible for giving papers by hand to people

who could become clients. Different types of announcements by the

business could be done in this manner. Papers could be distributed by

hand and also could be thrown in houses of people. When papers are

printed and thrown in homes of people then they check the papers and

get in dealings if they are interested. Management can send

advertisement papers to many people in their homes and expect to get a

lot of exposure and chances of many sales.

It is not required to have expensive papers as simple papers could be

used for printing and spreading for others. This mode of advertisement is

fast and could result in getting good results in the form of a lot of

exposure in a short time period. Magazines are distributed from many

companies and these are providing advertisement services. Full or half

page advertisement could be used in famous magazines. Many people


are reading those magazines, which can see the advertisement and

become customers of the business.

Management has to make selection from many modes of advertisement.

It is good to start different modes of advertisement in the beginning

when the business is new. This will increase awareness among people

and they will come and check the products and services of the business.

When the business is providing reliable services and products to users

then the clients will become permanent and come back for getting more

products and services.


Chapter 2

Human resource management

Large businesses have many employees which are working in different

departments. Management in business is required to handle and work

with them. Business management must make sure that there is a fair

system of working and earning in the business. There must be rules and

regulations which must be followed in the business environment. Good

incentives must be given to hard working employees so that they could

work well for the business.

There are also disputes in the business environment due to which

management is required to take some serious decisions. In such cases it

is important to follow rules which are equal for all the concerned parties.

In some cases there is requirement of changes in business. There are

different types of resistances for changes in the working from time to

time. Management in any business is required to deal with these types of


problems and provide all the details so that the parties related with the

business could work in support of the required changes.

Small businesses which have no employees are not suffering with

problems of management of employees but these have small number of

profits and reduced areas of working as compared with large companies.

Large companies are enjoying large profits and earnings but they have to

make sure that the human resources are properly managed at all levels.

Management of any business is required to make rules and regulations

for dealing with parties with the business.

There are internal parties which are to be handled through management

of any business. Proper management of human resources is leading to

get good results in the form of profits and benefits. Businesses are using

humans as resources and they must be managed for getting good results.

Management must check ways through which working and morale of

workers could be improved. If the employees in a business are working


with high morale and they are eager to contribute for the success of the

business then it will give good results for the business. Management

must make sure that the business has a supportive environment.

When the workers in a business are supporting each other then they will

help each other in achievement of targets of the business. Management

must make such environment in the business through which all the

workers could work. There must be incentive scheme which is based on

workers who will work harder as compared with others. Such schemes

are attractive for workers and they like to get them by working hard.

Options could be given to workers so that they can work more than the

routine hours.

This will give them, benefits in the form of extra payment for more

working and the business will get benefits in the form of more outputs.

Large companies are in need of good employees who can work for their

success. Management is looking for experienced workers who can


contribute towards the success of any business. People are willing to

work in such companies which have good reputation and which are

providing good opportunities to them for growth and progress with time.

Management must set an environment so that the workers can work by

supporting each other and achieve the targets of the business.

Management can make teams in a business and different types of tasks

could be given to them. There must be incentives for achievement of the

targets and competition could be increased among different types of

teams. Such types of working will lead in more work from employees

and they will support their teams for getting success.

Leaders could be made for all the teams in a large company and

management will be dealing with those leaders for checking the progress

of teams. Management can make division of workers in different ways

which will give results in the form of more information and control.

Those teams which are performing well could be given incentives and


those teams which are not performing well could be given warnings.

Division of workers in teams will highlight the hard working workers

and management could give them incentives so that they can work

harder for getting mutual benefits.

Those workers which are highlighted as normal for the business could be

encouraged to work harder through incentive schemes. Those workers

which are proved to be harmful for the business could be given

warnings. If the workers are not improving their mode of working then

they could be eliminated and replaced with productive workers.

Management must take serious steps so that the business remains filled

with high quality of workers. In case of reduction in number of workers

it is important to make selection of the best workers who have proved to

be useful for the business.

Firing workers from any business is a tough decision for the

management and there is a lot of resistance in such cases. If business is


firing workers due to their bad working then the resistance could be

reduced but if firing is done on the basis of reduction of costs of

production then resistance could be huge. Management must handle with

such cases and make plans so that all types of resistance could be

eliminated. It is important for management to check the performance of

workers from time to time.

This will keep the workers active and engaged in the business. When the

workers are aware that management is checking them then they are not

able to work in a lazy manner. When workers are not checked and left

without setting special goals and targets for them then it is bad for the

business. Workers are working lazily if they are not checked regularly

and this will result in losses for the business. Management must make

sure that all the workers are working actively and engaged in success.

In case of fights among workers it is important for management to take

serious steps. Such steps could result in elimination of such workers who


are not willing to make improvements in their behaviors. Management

must issue warnings and give chances to fighting workers so that they

can have good relations. In many cases the causes of fighting among

workers are eliminated through management and no serious steps are

required. In few cases the causes are very serious and results are

obtained by firing workers from their jobs.

Management must have rules for business which are related with hiring

and firing of workers. When management is following rules for all the

hirings and firings of workers then there will be no resistance from

workers. Management can set a merit system for workers and continue

to take tests of their abilities from time to time. This will check the

knowledge and experience of workers and also help in improvements of

their working.

Active management actions could help in keeping the workers active

and working hard for the success of business. Management must make


selection of such workers who can work hard for the business. Ads could

be given for getting applications from many workers for open posts so

that top class workers could be selected in the budget of the company for

getting success.


Chapter 3

Financial for business

Financial issues are important for any type of business. Management in

the business is required to make sure that the business is working as per

its financials. In case of small businesses there are small finances while

large businesses have large finances. Management in business is

required to find sources through which finances could be gathered and

used for normal working.

There are detailed financial statements in businesses which are used for

getting information about the financial status. Reliable sources could be

used for getting finances for the business. Many businesses are taking

loans from creditors in the form of cash or raw materials for making

products. Many items in a business are given to debtors on the basis of

some agreements for long term business relations. All these agreements

are based on financials.


If a business is working well then it will have strong financials. In order

to survive for a long time period any business must have strong

financials. Financial resources are accumulated with time when the

business is working well. Management must make sure that the business

is working well and increasing its financials with time. If the financials

are not increasing with time then it will be harmful for the business. For

a business to increase benefits and get profits it must get more financials

through profits.

Getting financial resources from others in the form of debts is not going

to give good results if the business is not making profits from them.

After some time the business has to return all the debts to others and if it

has not made any profits then this will lead to the elimination and loss of

the business. Management in the business is responsible for making sure

that the business has reliable plans which could be achieved.


When the business is working as per plans then it will get more financial

resources with time which will result in long life of the business and

profits for all the concerned parties. Management of a business must

check different types of financial resources for any business. There are

many modes of getting financial resources for any type of business.

Loans could be obtained from banks on a certain percentage which must

be returned after a certain time period.

Procedures of banks must be followed for getting loans and using them

for the purposes of the business by management. Banks can give loans to

businesses in the form of cash which can be used by management for

performance of routine tasks of business. Many other businesses are also

used for getting financial assistance by large businesses and companies.

This is in the form of taking items without making payments. Businesses

have agreements with different companies for getting items now and

making payments later with some extra payment for late payment.


Many businesses are getting finances through people in the form of

capital. Shares of businesses are sold to people and they are given

incentives in the form of profits after a certain time period. Different

businesses are offering different offers for people so that they can get

shares and get a part in the ownership. Many people like to invest in

successful companies so that they can earn a return on their investment

after some time period.

Terms and conditions are outlined by management of businesses so that

dealings in shares could be completed with ease and give good results in

the form of profits. Those businesses which have many investors and

selling many shares are making a lot of money. Management is

responsible to invest this money in useful projects so that returns could

be given to all the investors. Those businesses which are having a

history of giving good returns to all the investors are able to attract more

and more investments.


Shares of businesses are traded in stock markets and some changes are

continued. Shares of some companies are increased in values while some

companies are suffering with reductions on values of shares from time to

time. People who have purchased shares of a company at reduced value

are able to sell them when the value is increased. This gives them profits

and they are able to make investments again for earning more profits.

Those people who have invested in getting shares at high price and now

the prices are reduced could suffer from losses if they sell at reduced

prices. Many people are in need of money and they have to sell at

reduced prices if the values of shares are decreased after some time

period. Stock market is filled with shares from different types of

companies and investors are engaged on a regular basis for making

investments and making money.

Management must set realistic prices so that it could attract many

investors for getting shares. When shares of the business will be sold in


huge amount then the prices could be increased in order to do the

business or decreased for checking results. Ups and downs in prices of

shares are a continuous process and it is giving results in the form of

profits and losses for the concerned parties. Management must check

different options for getting financial assistance for business. Large

businesses are starting with some loans from banks or other sources.

Management must make sure that the loans are used in profitable

schemes so that profits could be obtained for making payments of the

loans. Profits are also given to share holders of the business in the form

of dividends. Management of the company is deciding about the amount

and percentage of dividends which can be given to members of the

companies. If the business is working well and making a lot of money

then all the members are able to get more shares from the profits. If the

business is suffering from losses then members are not able to earn

money in the form of dividends.


While taking loans from outside sources it is important to give some

property or any other thing as security. Management must check the

items which can be given on behalf of the business so that loans could

be secured. Shares are given to outside people by giving them

membership in the company. Many companies are using the options for

selling shares for getting finances from people.

This mode is giving instant results in the form of more and more money

but results must be good so that more investors could be attracted with

time. Management of the business must have some amount in spare so

that continuous supply of financial resources is available when needed.

Businesses are required to take decisions related with huge investments

which require instant supply of money. If the management has money

then it can make investment without making delays and get results in the

form of benefits for the business.


Those businesses are successful which are able to increase their financial

resource with time. Finances are needed for normal working of any

business. Management must use different sources for getting financial

resources. Proper records and calculations must be used for making sure

that the financial resources are controlled and used in a proper manner.

If the business is making money then it can use it for investment in the

business for getting updated items for the production process.

Investment from the business could also be done in other businesses in

order to earn money in the form of profits. Management must invest

money of the business in such schemes which are secure and can

generate money and profits. It is good to use different schemes so that

the losses of one scheme could be covered through profits of another

scheme.

If a business has obtained finances through different sources but losses

are occurring then management must change the plans and working


procedures. Reviews from management in the working of any business

are important and can highlight many problems. These problems could

be eliminated by proper plans and working. If management has obtained

loans from outside parties for increasing the finances of the business

then plans must be made for returning the loans. It is good to return the

loans on time so that loans could be obtained in future.

Businesses are in need of loans from financial institutions and they can

build trust among the lenders by dealing in a fair manner. If management

is not able to return the loans on time then it is hard to get more loans in

future. Management must work hard to build a strong financial

foundation of the business. When the business will have financial

resources and incomes through profits then it will be able to return all

the loans and get rid of extra charges.

If a business is not having enough finances then it will not be able to pay

the amounts of all the workers. Such businesses are not able to run


normally and they have to be eliminated so that the charges could be

paid by selling the assets of the business. Management is also involved

in such actions and selling the assets of the business when it is not able

to continue.

This will give money so that the applicable charges and wages of

workers could be paid. Management must keep the financial plans

updated from time to time as it is required to remain updated as per the

changes in the market situations. When the situations are favorable then

management must invest in schemes which will give benefits and

profits. If the conditions are not good then management must control the

investment and wait for favorable times.

Different financial institutes are offering different types of schemes

through which money can be made and earnings could be increased.

Financial resources could be increased by management by using ways

which are leading to get more money. Management must invest in short


and long schemes so that money could be made through them and used

in normal manner. When management is making investment in different

types of schemes then it is helpful for making money. Management must

take start by small investment.

If the results are good then management can increase the amount of

investment. If the results are not good then management must look for

other areas of investment. There are many options available with the

management through which investment can be made and financial

resources could be increased. Profits and losses are part of any business

and management must be prepared for dealing with all types of

situations when making investments.

Management could check the working and progress of the business by

checking the progress reports. This will highlight the areas which are

making a lot of money so that management could focus on them for

making more profits. Those areas which are not working well could also


be highlighted so that management could focus on them and improve

them. Those areas which are working in losses could be left by

management so that focus could be transferred to profitable areas.

Regular checking and updating from management about financial

working of the business is giving results in the form of better working

and more profits for the business.


Chapter 4

Communication skills

Management in business must have good communication skills. It is

important for a business to communicate well with its clients.

Management is communicating on behalf of businesses and they must be

aware of ways of delivering their messages properly. Clients are in need

of timely responses and answers from businesses.

Many clients are looking for new offers and promotions from businesses

so that they can take part in them. Management in business must give

timely information to clients with proper means so that they can take

actions. If queries are asked from clients then businesses must respond

quickly so that the clients could get satisfaction. Large companies are in

need of communication by management with the staff from time to time.


This will give help in the form of communication of all the required

policies for the employees. Different types of meetings could be

arranged in the businesses by management in which different types of

issues are to be discussed. Management must make sure that all the

parties in the meetings are taking part properly and giving their

contribution in the form of useful knowledge.

Businesses have to communicate with the outside world and also with

the employees working in the business. Management in any business is

required to deal with all types of communications. There are

departments in large companies for communication which are talking

and sharing information on the behalf of companies. Authority is given

to certain people by large companies through which they can share

information with outside world.

Many types of options are available by businesses through which they

can communicate with others. Inside communications could be done by


using notices on notice boards from management for all the staff

members. Outside communications could be done when asked by the

clients through phone or emails. Announcements could be made by

businesses through ads which will give details about the major changes

or other offers for clients.

Timely and effective communication is required by any type of business.

With good communication skills any business could get success through

management. Management must give information about important

points in a timely manner. All the announcements made by the business

must be checked by management so that the errors could be eliminated

and details could be provided. People are looking for exact information

without extra details. Management must communicate in an effective

manner with the outside world regarding all the announcements.

This will give details to outside world and others will be able to learn

more about the business. When management is giving extra details


which are boring and not related with the issue then people will not

check the details and leave the information. It is important to make

messages in a professional manner, which are to be delivered to outside

world.

Communication inside the business by management must be done in

such a manner that all the concerned parties could get notice and details.

Many options are available by management so that communications

could be completed inside the business. There could be a system of

emails which will be sent through management to all the employees.

Notice boards could be used by management on which important

information could be displayed for all the employees.

Memorandum is another mode of sending information from

management to all the concerned parties inside the business.

Management must communicate well at all levels. It is important for

management to represent the business in a professional manner. When


the details about the business are given to the outside world in a

professional manner then good results could be obtained. A business has

to communicate with other businesses in routine working for

performance of routine tasks.

This communication is to be done by management by using standard

procedures. Standard modes of communications must be used through

formats which are running in the business world. When businesses are

communicating well with the internal and external parties then good

results and actions will be obtained which will result in profits for all the

concerned parties. It is important for management to listen to the

feedbacks while communicating so that further communications could

be planned.

Same modes could be used for getting feedbacks or contact details could

be given through which feedbacks from others could be obtained.

Timing for communications and contacts with management must be


given so that people could follow the times and get instant responses. It

is not possible for all the businesses to have communication channels

opened all the time.

When a business has automated systems and workers available for

communicating all the time then this ability could be highlighted for

getting responses from people. If a business is not providing

communication facilities all the times then it must give the exact time

periods in which communications could be done. This will give good

results in the form of instant responses from professionals when they are

calling. This method is helpful for getting instant results and

communications from professionals.

People like to get in contact with professionals for checking details on

different matters of the business. Communication must be polite with

people so that they can become clients and become impressed with good

behaviors. Management must welcome the callers and other people who


are engaged in communications through different means. Effective

communication from management is liked by people at all levels.

This will make a good reputation of the business and results in

increasing trust and satisfaction. Reliable answers related with all the

questions of people must be given to them so that they can be convinced

to come to the business and engage in dealings. Many people are asking

with the business related with different policies and procedures. In such

cases it is important to give suitable answers from management. Teams

could be made by management to deal with all the communications of

the business.

Those people who are dealing with communications must have all the

details. This will give instant responses to people and they will be

satisfied. If the people dealing with communications related with

business are not able to give suitable answers on time then this will be

bad for the reputation of the business. Management in the business must


use ways through which communications could be handled. If online

modes of communications are provided for people then it is important to

check the emails on a regular basis.

Regular replies to emails of people are giving good results for improved

reputation. Management could check the emails from people and give

them reliable answers. Teams dealing with communications in large

companies must make sure that reliable answers are given to people. If

answers to certain questions are not known then teams must consult with

management to give reliable answers. It is good to give right answers to

people as it will present the business to the outside world. If wrong

answers are given to people then they will get a negative impact.

Communications of all levels must be managed and handled through

professionals in the business. Communication among people in the

business and management could take place in different ways. Meetings

could be arranged for communication among professionals in the


business. In these meetings it is possible to deal with procedures related

with working of the business.

Management must have effective communication skills so that

procedures could be made for dealing with inside and outside people.

Many people are using internet and many emails are sent to businesses

for asking different types of details. Management must have trained

professionals for giving reliable solutions for all the questions and

problems of people. When reliable answers are given to people then they

will become satisfied and also become clients of the business. Those

businesses which are poor in communication are not able to gain trust of

the clients. Effective communication could give trust to clients and

engage them in dealings.

Management must give opportunities to others so that they can take part

in communications. This will give feedbacks to management so that

proper working and plans can be made. Feedbacks from people are


important for management as it will guide in making items which are in

need. When items are required by people and these are given to them on

time then they are able to get engaged in dealings with business. It is

good to get feedbacks from people about the products and services of the

business.

Management could encourage the participation of people so that they

can take part and give feedbacks about products and services of the

business. This will be helpful in making improvements in products and

services and also making the desired items which will be liked by

people. When companies are making desired products and services on

the basis of feedbacks from people then these are going to be high in

demand.

Communication skills are important for any type of business and these

could give results in the form of more profits for the business.

Management must focus on all levels of communications. Management


must have the ability to convey its messages to others. Management of a

business is representing the business and it must use effective

communication strategies. With the help of effective communication

strategies it is possible to gain benefits in the form of good results

through proper actions.

Communication from management could be used for sharing details

about upcoming events. Many types of events are launched from

companies from time to time. These must be communicated with

concerned parties. In case of sales it is important to share the details with

people so that they can learn and make plans for purchases. This will be

done through management when communication skills are used. Special

discounts are also highlighted by management so that people could be

attracted and get information.

Management of a business is using different means for effective

communications in order to share details about latest plans which can be


attractive for people. Many people are willing to make comparisons

among the offers from different businesses. Management must highlight

the attractive points in their communications so that the clients could be

attracted and they can get desired details.

Management must give instructions to all the workers in a business so

that they can be guided to work as per needs. If proper instructions are

given to workers then they are able to be checked as per the set targets

and goals. If workers are not getting instructions from management then

their working cannot be checked and they will not understand the details

of their jobs. With complete and effective communication it is possible

to convey the ideas and instructions to workers in a company by

management which will give results in the form of effective working and

good results.

When management is communicating information for workers and

others inside the business then it must make sure that the information is


received and understood. Confirmation about the receipt and

understanding of information is important so that the actions could be

started as per needs. If the communication is completed but not

understood by the recipient then it will not give good results.

Time is wasted if effective communication is not used and feedbacks are

not checked. In order to make sure that communication is delivered

properly and understood by the recipient the management must use the

feedback system. Effective communication in businesses could be

managed by using proper channels. There are many channels in

businesses through which communication could be done on time and

feedbacks could be obtained. Many businesses are using advanced

means of communications which are through emails.

These emails are sent inside and outside the business by management so

that instructions could be given and actions could be taken as per needs.

Emails are made in a special format and many businesses are using the


headers and footers which give indications that the email is from the

company. Emails are also printed in order to give them to other parties

by hand.

Communication skills of management are important for any type of

business. If management is communicating effectively then good results

could be obtained in the form of instant delivery of messages and

feedbacks. If management is not well in communications then it will be

harmful. While communicating it is important to give reliable

information to the concerned parties. Errors in information are not good

and could result in bad reputation for the business. Advanced technology

has given many new ways for businesses through which they can

communicate well and get feedbacks from others.

Management must use reliable means of communications through which

feedbacks could be obtained and information could be shared with the

desired people. Online modes of communications are also helpful.


Information from the management could be shred to many people

through internet. Many sites are available through which ads could be

posted with information of the company.

Such types of communications are also good for advertisement purposes.

As a manager you must communicate well on behalf of your company.

You must make sure that you are representing a large company and your

information will directly impact the company. If management is not

aware of the answers of questions from people then they must not use

the guess work. It is important to take some time and think on the

questions for providing reliable answers.

People are giving more importance to correct information as compared

with timely information. If you are able to give timely and correct

information to others then you can proceed for getting good results. If

you are not having information as a manager about a particular issue

then you must take some time and research on the topic and provide


correct answers. Management must communicate to the point and as per

needs. Many people are not willing to get a lot of details on many

matters.

Some information, which is concise and to the point, is required by

people. Long details which are not relevant with the topic are not liked

by people. There can be options for those people who are in search for

more details so that they can get more details if they want. Management

of any business must make sure that they are active and giving details to

others as per needs. All types of information could not be given to others

so management must make sure that secrets are protected well and

others are not able to access them.

Unauthorized access to secrets of a business could result in losses

therefore care is important in such cases. Tone of voice from

management of the business must be polite and clear. All types of

information and communication must be done from management in a


polite manner. Important information must be communicated by using

written modes so that these could remain same and not changing from

time to time.

Professional presentation of messages and information must be used so

that communication could get feedbacks and results in a timely manner.

When some changes are taking place in the normal routine of working

then these must be communicated effectively with others inside the

business. Management must deal with all the matters with care in case of

conflicts. When there are conflicts and fights among people then they

must be handled with care and decisions must be communicated in a

proper manner.

Timely communications with others inside the business and outside the

business is important for getting timely results. Different modes are used

for communications with different people inside the business.

Management must use appropriate modes of communications at all


levels inside the business so that desired results could be obtained.

Timely and effective communication is giving results in the form of

timely actions which will result to get benefits for the business.

Management must have good environment inside the business so that

communications and interactions could take place in routine. All the

matters related with the business must be discussed and dealt as per

needs among management and other concerned parties. Management

must use advanced means of communications so that the messages could

be delivered without wasting any time. Contact information must be

given in ads so that people could call and get required information. If a

single person is managing the whole business in case of a shop then he

must give his cell number which is available for dealing with customers.

People like to call on cell number in order to get details about sales and

promotions. Timing could be mentioned through which communication

can be done so that timely calls could be received without any type of


disturbance. Management in business has to deal with many parties.

Some parties are outside the business and some parties are inside the

business. Different types of styles in communication are used for

different cases with parties. Polite modes of communication could be

used in all cases.

Clear and simple ways of communications must be used so that the

messages could be given on time without any delays. Management must

give clear messages to all the related parties with the business. Clear

information must be communicated so that doubts could be eliminated.

Management must make sure that the information is communicated in a

clear manner without hiding required details. Important details in the

communications must be delivered through management in business for

getting good results.

Management must make sure that the information is concise. Irrelevant

details must be omitted from communications so that the other party


could receive the exact messages. This will deliver clear messages and

save time in creating them. Concise messages are able to get instant

results and actions from the other party. Related points must be

discussed in communications by management so that time and effort

could be saved by reducing the chances of misunderstanding.

Management must give messages and communicate them in a concrete

manner. Messages must be concrete and giving important information

about the subject. It is not good to omit the important points in messages

as it will reduce the effectiveness. When messages are concrete then

they are covering all the important points which will give results in the

form of clear distribution of details to the concerned parties. All

important points must be covered so that the other party could be made

and convinced to take the desired actions.

Management must make sure that the communicated messages are free

from errors and correct in all respects. Typing errors in written messages


could result in changing the meanings for some words. This change

could disturb the messages and also change the meanings. It is good to

revise the messages before sending them to others. Revision could

highlight the errors and help in correction.

If wrong messages with many mistakes in typing are communicated and

spread then it will be bad for understanding and also harmful for the

reputation of the company. Management in business must make sure that

they are checking the messages before sending them to others at all

levels. Due to fast typing of messages it is common to have some

mistakes. Revisions could highlight the mistakes and eliminate them in

time. Management must make sure that the communicated messages are

coherent.

Coherent messages are logical and delivered in a proper manner.

Management must use the logic for delivering and communication

process so that the other party could understand the messages and take


actions as per needs. Management must give complete messages to

others. Important information must be included and unnecessary details

must be excluded. It is not good to have incomplete messages in

business which will result in unclear results and actions from other

parties.

Management must communicate complete messages to other parties and

make sure that these are delivered to them and also understood.

Management must deliver courteous messages for others. It is important

to make messages which are giving importance to other parties.

Management must avoid the tones which are for insulting others. Polite

messages and normal tones are good for any types of messages in the

business environment. When management is taking care of

communication of their messages then they are able to get results in the

form of proper understanding of messages which will result in good

results.


Management must be open for receiving feedbacks from the other

parties which will give details about the understanding. In case the other

parties do not understand the messages then the management must give

more details till the other party understands the communications. Formal

modes of communications are used in the business environment.

Management of business must make sure that they are dealing with all

the concerned parties in a normal manner. Informal messages are not

communicated normally in the business environment. All the parties in

the business environment are expecting formal behaviors and

communications in start. With the passage of time informal relations

could be made among businesses which will give rise to informal

communications. Managers in businesses are able to communicate well

as they are taught communication skills during their courses of studies.

Experience in business environment is also helpful for getting skills in

communications. Those managers who are able to communicate well at


all levels are able to provide good results for the business. Good

communication skills are helpful in routine life and also for the business

environment. Management can make videos for employees in a business.

These videos are for giving instruction on important topics.

These types of instructional videos could be helpful for talking about

important changes and practices. It is good to ask questions about these

videos so that the participation of all the employees could be checked. If

some changes took place in the normal working of a business then

management could make a video and launch it in the business for

information of employees. Some time must be given to the video so that

the employees could check them and work as per needs.

These are small videos for some minutes and these are helpful for giving

reliable and important information to all the employees. Companies are

able to post videos on internet in order to communicate about the

important offers in the form of ads. These types of videos will attract the


attention of many people through internet and they will learn important

points about the company.

Management must make such videos and spread them to the outside

world. Separate videos are for employees and customers. Management

must make sure that the videos are giving exact information and are

short so that the interest and concentration of the parties could be

engaged. Management must be open for communications related with

different matters of the business. Employees must have access to

management for communications of different matters which are

important for business.

Management could arrange meetings in which important people in the

business are involved. It is important to guide the participants in meeting

about the topics so that they can make the required preparations. When

the members in meetings are coming with required preparations then


they will contribute well. Many important decisions are made in

meetings and communicated to all the concerned parties.

Such meetings are for making sure that the working of the business is as

per needs and all the areas are checked for making improvements.

Special roles are performed in such meetings by participants. Voting is

also used in meetings through which decisions are made on important

issues. These decisions are to be communicated to all the related parties.


Chapter 5

Legal issues

Different types of legal issues are involved in launching and working of

any large company. Management of the business is required to deal with

the legal issues so that problems could be eliminated. Large companies

have legal departments which are dealing with all the legal issues.

Management in the business must make sure that illegal actions are not

taken by the parties connected with the business. In case of any illegal

actions it is important by the management to make sure that it is

eliminated.

Legal departments have lawyers which are working for large companies

so that they can be represented in case of legal problems. Large

companies are dealing with different types of legal issues from time to

time so management must have the availability of lawyers and other

professionals who will deal the legal issues and give reliable path of

working for the business.


All requirements of laws including working and taxation and many other

things are handled through management so that the business could work

well and have a safe path. Management must make sure that all the

requirements of laws are completed and the changes are also

implemented which are taking place in legal details from time to time.

For updated and legal working it is important by management to have a

legal department in large companies.

Many small businesses have no lawyers and these are not using the legal

advice in many cases. Services of lawyers are required in case of any

types of problems for small or large companies. Management must make

sure that all the requirements of law are completed in working. In case

of large companies it is requirement of law that all the financial matters

must be disclosed.


Management must make proper books of accounts to meet the needs of

law. This will be in the form of different types of statements which are

disclosing the information about all the areas of the company. All the

figures must be presented in a professional manner and as per the

standards. International standards are to be used by large companies for

making of books of accounts.

Members of companies are given these details so that they can check the

working and make further plans. Small businesses are not under strict

legal issues related with disclosure of financial matters as there are no

partners or members. In case of partnerships there are some legal issues

related with making of financial statements. Large companies must have

all the financial statements in proper formats and distributed to all the

concerned parties. In this manner the financial information is given and

checked by auditors so that these could be made as per laws.


Any errors in financial statements are highlighted by auditors and

instructions are given to management to make the desired corrections.

These corrections are to be done in a timely manner or the report of

auditors will show these errors and disclosures for members which are

not following laws. Management must make sure that the business is

following the laws of the government and the country. Dealing in illegal

items is not allowed and there are strict actions in case of getting

captured.

Competitors could also sue the company in which case management is

required to use the services of lawyers and professionals for dealing with

them. Large companies have regular workers in the form of lawyers who

are dealing with all types of legal issues. Management must have

contacts with lawyers who are ready to check the details of legal issues

and work to respond to them as per needs.


Management must have some knowledge about the legal issues which

can be used for dealing with some problems in case of major problems

of laws and sues it is important to deal with them through professionals.

Lawyers are available who can be used at any time for dealing with

issues and eliminate them. If management is noticing that a competitor

has breached the copyrights then services of lawyers could be used for

legal proceedings.

These cases require issuing the legal notices to competitors and asking

for damages. Many companies could recover a lot of money in such

cases as damages if the legal department is working well. Management

has to nominate the person who will represent the company in case of

legal proceedings and hearings in the court. Such a person must be

trained so that he could give reasonable answers to all the questions.

These answers are considered to be from the company so management

must be careful in training process of the representing person. If


management has selected a lawyer who is not working well for the

business then it is important to make changes in selection. If business is

consisting of lawyers then they have to face with different types of

issues and cases in routine. Management of such businesses is dealing

with cases and clients for making plans for taking legal actions.

Courts are filled with cases of different types which are related with

businesses and involving different types of people. If management is

related with a business in which cases are filed related with low quality

of products and services then lawyers must be used for dealing with

them. Large companies could have contracts with lawyers who will deal

with all types of cases. Any business could be targeted in any legal case

at any time and the management must be ready for having lawyers for

dealing with these cases.

If cases are filed against the company then management must try to

solve the cases with other parties so that time and efforts could be saved


in legal proceedings. Other parties which are suing the business could be

convinced through different offers. Management can check these options

and also consult their lawyers so that the cases could be taken back.

Filed cases against any business are harmful and resulting in decreased

reputation.

Many cases could be dealt through effective communication with the

parties through management. Some adjustment is asked by the other

parties so that they can take the cases back and the results could become

normal. There are also occasions when the other parties are not making

any adjustment so management has to follow the legal proceedings.

Some cases in law are very long and require a lot of time for solution.

Different types of tactics are used by lawyers in order to increase the

duration of cases. Management must try to eliminate the cases as soon as

possible so that the problems of law could be eliminated. Management

must make sure that all the working in the business is carried out by


following laws. If any breach of law is highlighted by the suing party

then management must ask for legal assistance to find ways for making

corrections.

There are penalties in the legal system, which are used for dealing with

small problems. Management must try to reduce the amount of penalties

in cases which are filed against the company. If management is filing

cases against others then lawyers could be used for increasing the

amount of recovery and benefits. Cases must be logical so that the

reputation of the company could remain safe.


Chapter 6

Logical planning

Businesses must have logical planning from start to achieve the goals.

Business management is making plans so that the business could earn a

lot of money. Any business is working in order to increase the profits.

Plans are made in the business by management so that the working of

the business could be adjusted. Any deviation from plans is not good and

must be taken seriously. Management must make sure that plans in the

business are able to be achieved.

If the plans are made which are not able to be achieved then the

resources will be wasted. Realistic plans must be made by management

and then the resources must be allocated to achieve them. Business

could make plans through management in order to increase the number

of clients with time. This could be achieved by giving good services to

clients and advertising to more clients so that they could come for

getting products and services.


Plans could be made for increasing profits which can be achieved by

reducing the costs of productions so that special discounts could be

provided to clients for increasing sales and profits. Budgets can be made

which will give figures for business so that the working could be done to

achieve those figures. There are different types of changes from time to

time in the working of the business as the situation in the market is

changing with time. In such cases the plans must be updated so that the

figures could be achieved.

Management must make sure that the business is working as per plans.

Regular revisions are helpful for checking the progress of the business

and for making required changes. If the business is not updating its

working policies and procedures then it will result in losses and short

life of the business. There are many occasions in life of a successful

business when it receives offers from other business for partnerships and


mergers. Such decisions are huge and impact the overall working of the

business.

Management must take these decisions with care so that the concerned

parties could not be adversely affected. Management must make sure

that plans of the business are based on some logics. Those plans which

are proved to be successful from past experiences could be used for

future working with some changes for getting good results. It is not

necessary that all the plans in past could give same good results in

future. There are changes in the working places and markets due to

which adjustments are required.

Some changes in active plans are required through which people are able

to get desired results from companies. Management must make sure that

the plans are updated from time to time. There are many types of

changes in the market due to which the plans are to be changed. When


regular checking of the business procedures is done then plans could be

changed and updated.

If management is using old policies without taking into account the

changes in the markets then results are bad. Those businesses which are

taking required steps from time to time in order to introduce the updated

policies and plans are getting good results. It is required by management

to make logical plans which can be used for increasing benefits. These

plans could cover the working of the business as a whole. Some areas

could be dealt through old plans with some changes in business however

there are requirements of major changes in other areas.

Management must highlight those areas and take steps for including the

major changes. These changes are in the form of working and

involvement of people. When there is a need to change the workers and

shift them to other departments then management must take steps to

make the changes so that the working of the department could continue.


Those businesses which are not following any logical plans are suffering

from losses. In order to make sure that losses are to be reduced and

incomes are to be increased it is important to use logical planning.

Wrong plans are leading a business towards losses and management is

responsible for them. Management of any business is required to remain

alerted about the changes in market. When signals are received that

market is going to have some changes then policies and working of

businesses must be adjusted. Changes in policies of businesses must be

implemented in the form of steps as it is hard to impose the major

changes without guidance of workers. Plans need training for workers so

that they can cover the targets of new plans.

Management must hire professionals from outside so that they can guide

and train the workers in the business. If the business has such

experienced employees in staff then there is no need of hiring more

employees. Services of old employees could be used for guidance and


training of new employees. If a new business is starting then it must

follow the steps of competitors in the same industry in order to make

plans. New businesses must not try new plans as it could be harmful and

result in losses right from beginning.

After checking the old plans which are proved to be successful it is

possible for businesses to try new plans and check the results. In this

manner management is able to allocate budget for testing of new plans

and check results with the passage of time. Regular implementation of

some old and some new plans in businesses are helpful in checking

progress and making long term plans. Management is able to check the

results from plans and work accordingly. If the plans are proved to be

successful then management must make more investment in such plans.

If some plans are failed then management must check the details so that

the working could be updated.


If the working was perfect but the plans are not going to give benefits

then management must replace those plans with the plans which are

profitable. Management in a business is able to increase the number of

plans on which work can be done. In start some plans are to be used by

management. When those plans are working fine then more plans could

be included. It is good to make plans in budgets so that more financial

resources need not to be taken from outside sources.

Management must check the financial resources with it and make logical

plans which can be covered. It is not good to take loans for testing

different types of plans as it could result in losses if the plans are failed.

Management must use its resources for arrangement of financials and

test on a small scale on different types of new plans. If the tests are

proved to be successful then profits would be received by the business

and management will be able to gather resources for making huge

investments in successful plans.


If the plans are failed then management will not suffer from additional

losses and could use the profitable plans for gathering more resources

which will be used for successful plans. Management must not repeat

the same mistakes in the business environment. It is not necessary that a

plan which is not working today will also not work tomorrow or after

some time period. Conditions in the market are changing from time to

time and some plans which are giving losses now could give a lot of

profits after some time period.

Management must find the right time and make the plans which could

give the best results. There are many businesses which are providing

products and services on the basis of items which can be used for the

whole year. Some businesses are providing products and services which

are only for a specific season. These businesses are required to make

changes in their plans so that new products and services could be

launched when the season is changed.


Management must cover all the seasonal items in the inventory so that

the needs of users could be completed. Those companies which have

seasonal items are able to make a lot of money in those seasons but these

are not making profits when the season is ended. Those businesses

which have product and services related with the whole year are able to

make normal profits all the time. Seasonal businesses must make sure

that they are introducing items related with changing seasons.

When the seasons are changed then the items must also be changed.

Management of such businesses must make plans which will help in

adjustments and introduction of new items for the business. When timely

changes are made and new items are provided to users then they will

come back for more items and the reputation of the business will be

improved. Management must have some logic in case of plans for the

business.


Those decisions and plans which are made without any logic have

reduced chances of getting success. When management is making

logical decision and plans for the business and results are in the form of

benefits and profits at all levels.


Chapter 7

Roles of workers and managers

Businesses are made through workers and managers. There must be

clear roles of workers and managers so that uncertainly could be

eliminated. If the workers are not sure about their roles then they will

not able to be guided well to achieve the goals. Different types of

workers must be given different types of roles so that their progress

could be checked.

Management must have clear roles for working. Those roles are helpful

for checking the progress and making required changes in working

plans. Large companies have many professionals working in them in

different roles. All the roles must have clear instructions and guidelines

which are to be achieved for checking the progress.


Businesses must have procedures to deal with routine tasks through

workers and managers by giving them roles which are under their

capacity. Environment in the business must be supportive so that the

workers and management could achieve their roles and work for benefits

of the business. Management must be clear in terms of roles and

working in the business.

All the concerned parties must be given special targets and roles which

are to be completed. Management is responsible for management of all

the tasks inside the business. Tasks outside the business are also to be

dealt through management as the business is managed by them and

presented to the outside world. There are many types of employees in

large companies and they are working in different roles.

These roles are to be completed in time so that results could be checked.

Management must check the progress of all the workers and given them

instructions as per needs. Those workers who are working fine and


giving good results must be encouraged so that they can work with

increased levels of perfection and accuracy. Those workers which are

not working as per the assigned roles must be given warnings so that

they can make adjustments.

If they are working fine after giving them warnings then management

must encourage them. If they are not able to make the adjustments and

continue the bad practices then management must replace those with

good workers. It is not good for business to keep working with those

employees who are not giving good results.

Large companies are working in many ways and different employees are

given roles through which their progress could be checked. Management

can check the working of all the workers and also check their own

performance. This will give details about the areas which are weak so

that working could be done on them for making them strong.


Chapter 8

Targets and goals

Management in business must have targets and goals which are to be

achieved. It is not possible to achieve all types of targets and goals and

management must make sure that there are different types of schemes

for dealing with different problems in working.

Management must make realistic targets which could be achieved on the

basis of past experience and conditions in the market. If the progress of

the business is improving and more targets are achieved then the

business must continue the current practices. If the targets are not

achieved then management must check the details and review the

working process. This will highlight the problems and help the

management to make plans and schemes which will result in

achievement of goals and targets.


Conditions in the market are changing with time so management in

business must be ready to make updating from time to time. If

management is not making required updates in the working plans then

this will result in harmful results. Those companies which are achieving

good results are making required updates in their working plans from

time to time. This update is to be made in goals and targets so that they

could be achieved and results could be obtained for business.

Management of any business is looking to have increase in profits which

is a main target and policies are made to achieve it. There are many

types of goals for businesses which are made by management and

resources are allocated properly in order to achieve them. Conditions in

the market are changing with time therefore management must be ready

for making changes in old targets and goals. This will give them options

for working well and get desired results.


If management is making required changes in set targets and goals from

time to time as per needs of the conditions in the market then good

results are obtained. If management is not working actively for making

the required changes in targets and goals then it will result in losses.

Many businesses are gaining success these days and these are working

through active decisions from management related with changing of

targets and goals from time to time. When it is required to have some

adjustments in targets and goals then management must make sure that

the changes are introduced without wasting of time.


Chapter 9

Delegation

Management in business must make sure that proper delegation is done.

All types of tasks are not able to be done by a single person or manager.

Management must not give more work to a person the business than the

capacity. Capacity of different people is different but management must

make sure that there is a standard for all the workers.

A set level of working could be delegated to others so that they can

complete it in time. Management cannot perform all the tasks related

with the business without the support of others. Workers are to be given

working as per needs. Management has many professionals who are

delegating their routine tasks for getting them done with required

standards and levels.


Delegation is an important thing in any type of business and it gives time

and chance to work on other matters. Over loading with working is

harmful for quality and the business must focus more on quality than

quantity. Clients are looking for quality in products and services so

management must make sure that the concerned parties are working well

for making quality items from the business.

A manager must delegate his working to his juniors but keep checking

the progress. It is not good to delegate all the working and leave the

responsibility with juniors in business as it will result in errors and bad

results. Management can delegate some working and check it so that the

errors could be traced and eliminated in time. Delegation is not relieving

the management from its responsibility.

If management is delegating its tasks to others then the responsibility to

check and approve the tasks is with the management. If errors are

present in delegated tasks and management is not checking to eliminate


these errors then the responsibility and blame will be on management.

Management must make sure that it is delegating its authority and tasks

to trained people proper instructions must be given to workers so that

they can work well on the delegated tasks.

Delegation of tasks without giving proper instructions to workers will

lead to many types of errors. Even with instructions the process of

delegation could include some errors which must be checked before

giving approval of the working by management. Checking is helpful in

tracing errors of all types from the delegated working and highlights the

abilities of workers. Those workers who can work well on the delegated

tasks are considered by management in future for more delegation with

incentives and those workers who are not working well on delegated

tasks are not able to get benefits.

Process of delegation must be done with care. Management must make

sure that the people who are given the tasks are able to complete it. With


the help of delegation of less important tasks management is able to

have more time for more important tasks. This will give benefits and

results in the form of spare time and more good plans for the whole

business by management. It is always good by management to delegate

the less important tasks so that time could be saved for working on other

areas.

Not all types of tasks could be delegated by management so

management must make sure that the workers could handle the

delegated tasks in a professional manner. There is no need to take risks

of delegation of important tasks which are out of focus of workers. This

could lead to errors and delays in working and also increase the load on

workers.


Chapter 10

Learning process

Business management must have plans so that the learning process could

be used for all the concerned parties. With the passage of time the

learning and knowledge of workers is improved. Management is also

able to learn many new things with time and get more experienced in the

working. Management must have plans for workers in businesses

through which they can improve their learning.

Information about important things related with the business must be

given to employees in companies so that they can improve their

knowledge and work with better results. If the employees are not getting

required information about working from time to time then they will not

learn much. Reduced levels of learning about the working process in the

business are leading to same working without improvements.


When employees are learning good points about the working of the

company from time to time then they are able to work well and give

more benefits. Management in business could give details about the

future working of the business to workers and other concerned parties

with targets and goals and incentives for achievement so that the morale

of the employees could be increased.

With increased levels in morale it is possible to get more benefits from

employees. Those decisions which are related with employees could be

taken with their consent which will result in increasing their morale and

involvement in working of companies. When employees are given

chances of learning and making some decisions then they participate in

the success of the company and work well with more and increased

morale. Management must continue to improve its knowledge and learn

many new things with working in business.


This will increase their knowledge and help in taking more important

decisions in future. Management must not stop the learning process in

the business and also encourage new ideas from workers at all levels.

Management must not think that all the knowledge has been acquired

and there is no need of more learning. In the business world many new

experiences are taking place from time to time.

Management must remain alerted for learning from new experiences

with the passage of time which will help in working well in all the areas.

It is important to learn from past mistakes which will help the

management in making good decisions in future. Learning could be done

through the working of competitors in the market. When new policies

are launched by competitors then management could learn and study

them so that the desired changes could be made to implemented policies.

This will help in improved working by the business and management

will also improve its knowledge. If management of any business is


thinking that it has all the knowledge and there is no further need of

learning then this is leading towards losses and problems. With the

passage of time it is important to make some changes in working. Some

major changes are also required in the business which can result in

getting more benefits and eliminate problems.

If management is not making the required changes and updating its

knowledge from time to time then the results are not favorable for the

business. Management continues to try new policies in business for

getting good results. These policies are not always fruitful and it is

important to make changes. Management could learn from such actions

and make future plans for getting more benefits. Some losses are

resulted due to changes in policies and making new experiments.

Learning process is continuous in any type of business.

When management is learning from past experiences and also from

other businesses then it could get good results in the form of good


policies which will give a lot of profits. Learning must be introduced at

all the levels inside the business. Workers must be given training from

time to time in order to improve their knowledge. Tests could be taken

from workers about the practices and policies of the company so that

they can remain fresh and maintain their learning and knowledge about

the company.

Management must encourage the learning process so that the workers

could participate with care and work well. Those workers who are

learning well and showing good results in tests and exams could be

encouraged by giving them incentives. Promotions inside the business

could be related with the learning process. Those employees who are

having more knowledge and experience could be given more promotions

as compared with those employees who are not showing interest in the

learning process.


Management must make sure that all the employees are taking part in

learning programs so that their knowledge could be improved which will

be helpful for launching new policies and working with them. Training

programs are good for any type of business and these programs can open

new ways in which management could make investments. When

management is working actively for making investments in new

programs then it must make sure that the workers are properly trained

and have knowledge to deal with the new policies.

If the new policies are not working well then management must check

the levels of knowledge of the involved parties. Many policies in

businesses are not working well due to lack of knowledge and

understanding of the workers. When workers are given clear instructions

and they are showing good understanding about the working then

management could use this knowledge for progress of the business.


Management in a business consists of professionals who have completed

their studies before getting the jobs. Even after getting the jobs as

managers of any business the learning process must be continued.

Learning about changing in situations must be understood by expert

managers. Those managers who are experienced are able to manage the

business as per need and time.

Management must be ready to learn new things about the business world

and make changes when there is need. Updating process is required by

businesses and management must play active roles so that they can get

results in the form of profits. Losses could be reduced by removing the

harmful areas of working. Some schemes are not going to give profits

for the business therefore management must leave those schemes.

All types of employees are not available in a business therefore certain

schemes must not be tried without having professionals for completion.

Management must be ready to have more learning through changes in


conditions in the market. Conditions in markets are changing regularly

and there are some changes which are to be given importance. All the

changes are not important and management could ignore irrelevant

changes in the market.

When management is working fine and actively for making adjustments

as per changes in market then good results for the whole business could

be obtained. Management must share its knowledge with others in the

company while delegating the tasks. This will result in working without

any types of errors. Encouragement must be given to those employees

who are showing interest in learning the new polices and changes in

working. This will result in more benefits for the whole business and

also for the management.