Business Activity| Proper Management, A principle of growth in Business - By @solexybaba - 10% Payout to the community account

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Hello to everyone in this great community known as the Business Activity I welcome you all to a great day alongside a wonderful week before us all. Today I will be sharing with us an important aspect of business which I have tagged proper management in business. it is essential that we as individuals before going into business are expected to what the term management in business signifies. so sit comfortably as I begin my explanation regarding the above topic.

WHAT DO WE MEAN BY MANAGEMENT?

Management can simply be seen as the judicious use of available resources more efficiently in other to get a positive result or outcome. management is seen as the proper use of limited resources to attain a productive outcome or goal. when we talk about management, w are trying to say that resources that are limited in number are being used so well without lavishing them to acquire or achieve a set objective.

In any organization, there is what we call management and this is by using the little one has in a particular way in other to get the same result as others. let's take, for instance, I am a chef working in a restaurant, and then in the middle of my cooking I found out that am having limited ingredients and there is no way I can go out to get more, of what I will have to do is to manage the little ingredients that are available in other to bring out a wonderful taste. as a chef, the ingredients do not determine whether the food will taste good or not, what determines the taste of the food is the chef. so with good managerial skills, the chef will then know how to manipulate everything in other to bring a positive result.

So that is what management entails. the use of limited resources to bring out the best in what you do, can be materially, financially, and otherwise. provided there are limited resources and one is been able to come out with a wonderful result even when basic things are lacking then one is said to possess a good management skill.

WHAT DO WE MEAN BY PROPER MANAGEMENT?

Proper management is seen as the ability in which, the resources are available in full supply but the aspect of making good use of those resources is known as proper management. however, this attribute is rare to be seen in most individuals. some people are extravagant and as such, they tend to lavish things in ways that are not meaningfully provided the resources are available in full supply and as such, they want to use all the resources in a particular way that does not show signs of reservations.

Allow me to give you another scenario, still using the instance of a chef. in a situation where all ingredients are provided in full supply, a wise chef will often, make use of a particular quantity of ingredients to make his/her dishes hence the taste of the food does not solely depend on the ingredients but the chef's cooking ability and techniques. but an unwise chef will want to lavish all the ingredients on a particular dish in other to have a sweet taste of the food. that is to say, if the chef was making use of a particular quantity of ingredients when the resources are in short supply and now that the resources are available in full supply he/she would want to use it lavishly and then in a short while he/she will then run out of ingredients.

With the above example, I have managed to explain what proper management is, and also I have provided a scenario regarding the explanation. proper management skills are the ability whereby a good manager makes judicious use of his resources whether the resources are either in full supply or in short supply.

WHAT IS MANAGEMENT IN BUSINESS?

Management in business can simply be defined as the judicious managing of all resources regarding the business. be it a partnership business, a sole-proprietorship, or a government organization. it is also seen as the direction and organization of all activities that are seen in the business. it is the coordination of certain things in the business and this is determined by the head overseer of the business.

So management in business is often carried out by the managers of the business and that is why we often hear of the word management in any organization because without a manager who takes care in managing the business, there are tendencies that the business may like go south as though the activities of the business re likely not to be planned. so a manager of any organization will often what to see that all resources regarding the business are used judiciously without miss using them.

Often when things go south in a company, the manager is always at fault because it is the sole responsibility of a manager to handle and manage the organization. although we have boards of directors who often fund the business as though they are share-holders but the business is been taken care of by the manager as though he is answerable to the board of directors when things go south. and as such he tends to do his job properly in managing of the business affairs and resources so well to avoid eventualities.

Now all the above explanations are to prepare our minds and bring us to the expected topic, so there are certain things we are expected to know before the main topic of the day which I have explained concisely. so let us all return to what is expected of us today which is proper management in business

WHAT DOES PROPER MANAGEMENT SIGNIFIES IN BUSINESS?

We have seen various industries and organizations in our locality, and how they perform in general terms. allow me to use my business as an example. as a manager of my business, in as much as it is a personal business does not necessarily mean things should not go well. in fact, as the manager, I make sure that everything works accordingly and moves well as though the success of the business depends on my managerial skills.

If at all one runs a business and there are availabilities of resources, let's take an instance that the business is doing well. it is because of the good management skills that I have employed in the business that the business is seeing the light at the end of the tunnel, and because the business is doing so great that I have resources in full supply then I begin to lavish those resources extravagantly. I will notice that in a short while, everything will go to waste because the resources are being lavished and with no proper management attitude there are tendencies that the business will not last for a long time.

Proper management skill is seen when a manager picks up a business or industry or organization as the case may be from a scratch and then turns it into a great business by employing good management skills in handling the business effectively and making judicious use of the limited resources thereby turning it into a great company that now produces plenty of resources and as such knowing fully well that the resources are now coming in full supply still continually manages the resources in other to boost the business more and more than just getting the resources and start spending or using them lavishly without planning.

When I began to run my business, the resources were limited as though I began with little resources and then the business looked so odd and scanting as though the resources to get more goods were unavailable. but then I kept the pace on. there were times that I encountered issues in life and then the only option was to tamper with the funds which I have made from the business, but then I didn't, I resisted the urge as though the business was yet to gain balance. I often go out to source myself out in other to solve my problems so with that, I do not tamer with the funds that is been allocated to improving my business and I continue in that trend little by little. whenever I make more profits in the business, I equally use that profits to get new goods instead of lavishing them. I decide to make the business grow. there were times when I could not eat a comfortable meal just because I have aimed to make my business grow massively.

I want a situation whereby I can be able to take from the business and it will not indicate that a thing has left the business. I want a scenario whereby I can spend money from the business and it will not be noticed. so that has been my ideology for my business. more often, my friend will always wonder why I don't get things for myself and I am still looking like someone who does not have a business but then I smile at them because they do not know that I was working on promoting and making my business bigger enough so that I can eat the reward of it sooner enough.

And today, the business is moving so well. I have managed the business so well that goods are now seen by everyone in the store and now I can eat from it and it won't affect me. it is not like I am fully comfortable where the business is now but I am glad I was able to increase my capital and then fund my business so well with the profits I make from selling off goods from the store.

This is what we call proper management in business. If I was squandering all the profits that I was getting from the business long ago I would not have been here talking with you all in great confidence because by now the business would have crumbled. but with the proper management skills that I have managed to employ in my business, there is indeed a high level of growth in my business. now I can eat from it but with care. the aim is to be self-reliant and not to struggle. so I will keep appropriately managing my business in other to keep me going.

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IMPORTANCE OF PROPER MANAGEMENT IN BUSINESS

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There is certain importance of proper management in business, we will be looking at some of this importance of managing your business properly and they are as follows.

• IT HELPS TO DEVELOPE A BROAD UNDERSTANDING IN BUSINESS - With proper management skills, one gets to know more about the said business and also understands how to run the business smoothly. it held one to gain a good knowledge on how to maintain and manage the business in other to attain greater height in the business and so to avoid things that can ruin the business growth and development.

• IT HELPS YOU TO MANAGE FINANCE - This is a great aspect of gaining proper managerial skills. it helps one to know how to properly manage and use finance in business. this is very vital as we get to see so many businesses are crumbling every day, most of them are a result of good management of finance in the business. this is a great aspect that as a good manager you have to employ this aspect in your business if you want to boost your business to the next level.

• IT PROVIDES A GOOD LEADERSHIP SKILL - As a good manager can manage his business so well. knowing how to properly manage your business also teaches one to be a good leader. when one knows how to manage his finance and business, out get to develop the write leadership attitude, especially when running a business with other individuals.

• IT HELPS IN DECISION MAKING - When one employs a proper management skills in his business, decisions are made so easily. it helps one to come out with a good decision that will be profitable both to the business and to him in person. it enables one not to drift away from the initial plan and helps one stick to the plan even after the mission is accomplished.

So I believe with the above explanation, I have been able to share with us all the topic of today which is management, a principle of business growth.

CONCLUSION

In other to actualize our goal in business and to see that our business attain the particular position we want, we have to employ good management skills in the business. we know that no matter how far it will take to arrive at a destination, the only thing we have to do is to firstly take a step toward it. so before we can achieve our goal of developing our business and making it big, we must employ this attitude of being a proper manager with the proper management skills for the business in other to attain a greater height and to arrive at the final goal.

The success we all know come through labor and as such we have to labor today so that we can smile tomorrow that is the ideology of business. it is often hard and seems impossible at first but when consistency and good management skills come in then we are sure of a brighter future for our businesses in a short while.

Thank you all for your time. have a great day ahead.

MY BUSINESS DETAILS

Business name:	Xclusive Concept
Owner's name:	@solexybaba
Business address:	Zaria, Kaduna state, Nigeria.
About us:	Link to presentation. link