Good Management Is The Key In Success Business

Good management is The Key To Suiccess BusinessIn the small business, management-the owners-formulates the policies, arranges the initial financing, selects the location, building, and fictures, and determines layout, besides operating the business. Throughout the book more than 12 special aspects of management, such as those just mentioned, have been recognized as important enough to warrant discussion in a separate chapter. Yet they are all special phases of management.

When all the wide range of duties required of the manager of small business is considred, the need for some outside aid is apparent. He must balance every division and activity of the business; plan for the future while busy and train, and supervise employees; conduct or dirrect research; and manage all activities of the business. Surely our two basic statements regarding small business may well be used here to emphasize the need for careful attention, namely:
1. Good management is the one essential for success
2. Time is the number one problem of the small business

The opinion widespread that success in small business requires long hours of hard work, and most enterprises do not put in long hours. Others equally just as much and achieve the same results in more nearly normal working hours. In some cases, learning more rapid ways to perform essential tasks may be indicated. In other cases the time needed may involve aimless scannery of the daily paper, or similr ion economic, though pleasureable, activity. An employee has his time managed for him by company regulations, but the enterpreneur must do his own time management for success at reasonable price.

Management deals with the direction, supervision, control and coordination of all activities of the business. Organization deals with the structural arrangement or interrelationships between differerent parts of business. Since a business organization is operated by individuals; most of the important principles of organization are expressed in terms of the human element.