Understanding Business Management

Book Overview

This book serves as a comprehensive guide for aspiring entrepreneurs, business owners, and managers seeking to strengthen their understanding of core business principles and practical management skills. Covering the essential modules of business management, operations, performance measurement, strategic planning, business development, and personal skills, it provides a well-rounded foundation for running and growing a successful enterprise.

Each module is designed to break down complex concepts into clear, actionable knowledge, with practical examples and summaries to reinforce learning. From understanding organizational structures to crafting a strategic plan, from managing day-to-day operations to developing essential communication and negotiation skills, the book equips readers with the tools and confidence needed to excel in today’s competitive business environment.

Table of Contents

Module 1: Introduction to Business Management

1. What is Business Management?
2. Fundamentals of Business Management
3. Owner’s Role in Business Management
4. Differences among Business Owner, Entrepreneur and Freelancer
5. Organizational Structure
6. Role of Shareholder
7. Summary

Module 2: Operations Management

• Defining Operations Management
• Types of Operations
• Generally Accepted Accounting Principles (GAAP)
• Balance Sheet Equation
• Summary

Module 3: Performance Management

• What is meant by Performance Management?
• Areas of Interest in Performance Management
• Goals
• Functions of Performance Management
• Performance Journal
• Summary

Module 4: Strategic Analysis and Product Scope

• Strategic Plan Pyramid
• Customizing the Perspectives
• SWOT Analysis
• Foundations of your product and prioritize it
• Define Minimum Viable Product
• Summary

Module 5: Business Development and Succession Planning

• Basics of Business Development
• Strategic Initiatives or Partnerships
• Elements of a Succession Plan
• Development of a Succession Plan
• Summary

Module 6: Developing Personal Skills

• Communication Skills
• Organizational Skills
• Business Ethics for the Office
• Time Management
• Conflict Management
• Negotiation Techniques
• Customer Service
• Business Environment
• Summary

Module 7: Business Planning

• Introduction to Business Planning
• Things to Consider Before Starting a Business Plan
• Check for Availability of Resources
• The Elements of a Business Plan
• Summary