Business Management

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Business Management

• Melanie Qualm
• Adrianna Powell
• Spencer Colgan
• Jordan Olson

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Did you know the main cause of failure in
businesses is management?

• That's because most people don't have the
  qualities that help them manage a business. Its
  the key factor to being able to support and
  stabilize

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There are four types of Management

• 1. Small Business Management
• 2. Business Leadership
• 3. Human Resource Management
• 4. Financial Business Management

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1. Small Business Management
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Qualities necessary to Manage a Small Business

•  Independent, persistent, and self motivated
•  Willing to work long hours and take risks
•  Ideas and Preparation Research,

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Having a Business plan is key

• Business plan - a written description of the
  business plan and idea and how it will carried
  out
•  Key elements -
• Description of the business 
•  Description of competition
•  Marketing plan
•  Customer analysis
•  Operations plan
•  Financial plan

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2. Business Leadership
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Steps and Skills Involved

• The ability to influence individuals, groups, or
  teens to accomplish goals.  
• The five human relations skills
•     Understand yourself
•     Understand others
•     Communicate
•     Build a team
•     Develop job satisfaction

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3. Human Resource Management
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What is involved

• All the aspects of recruiting, hiring, training,
  compensating, and evaluating employees.
• Analyze the businesses current staff and its
  needs for additional employees
• Employee Compensation and Benefits

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• The first step in managing human resources is
  analyzing the businesses current staff and its
  needs for additional employees

•   The three steps for that are
• 1. Need for Employee
•      2. Employee Qualifications
• 3. Find New Employees

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4. Financial Business Management
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Three Parts

• Financial Planning
• Document Necessary
• Business Budget- A detailed plan for
  meeting the financial needs of the business
• Budgeting- three different types of budgets
•  Financial Reports

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Budgeting Types

• Start up Budget
•           - Plans the income and expenses from
  the beginning of the business till it becomes
  profitable
• Operating Budget
• - Financial plan for day to day
  operations of the business
• Formula Revenue - Expenses Profit/Loss    
•        - Revenue Income
• Cash Budget
•           - Estimate of the money expected to be
  received and paid out over a certain period of
  time

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 Financial Reports

• Its important to keep the following records and
  documents
•             - Cash Records
•                - Records of accounts
•                - Inventory
•                - Pay roll records
•                - Asset Records

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Balance Sheet

• A financial statement that lists a businesses
  assets and liabilities.
• - Also shows equity or net worth
• Formula Assets - Liabilities Net
  Worth               
• - Assets Things Owned
• - Liability Things Owed
• - Net Worth Equity
•  

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Sources

• Intro To Business Book 2000

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The End