And in small businesses, the businessman can organise a meeting with all its employees and get ideas about a specific situation. In the case of hierarchy, it’s done at different levels in the form of mini teams, and finally, ideas are discussed with the top management. While discussing the plan and delegating responsibilities, everybody is on the same page, which means everyone should have the exact same perception about the plan and its implementation, and nothing is tampered with.īrainstorming is an activity which involves getting ideas from all the employees in a business. Direct communication is the most effective way, which makes the message clear and creates a sense of trust, responsibility, and belonging in the employee, thus making him deliver better results.Ĭommunication is a two-way process. Proper communication is necessary in order to deliver the best results therefore, it should be made sure that the message conveyed to the last person is exactly the same as it was sent by the sender and has not been tampered with. How to manage a business effectively?Ĭommunication is the key to any business. Become a powerful leader with our practical training.
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Learn how to provide direction, instructions and guidance to others. Griffin and Ebert (1996) say, “Business is an organization that provides goods or services in order to earn profit”. It involves great risk, and a businessman needs to be dynamic and flexible to accept the changing needs and demand patterns according to the diversification experienced with each new day keeping in mind the most important fact, which is “providing the customer with the best product or service and after-service at an economical cost which retains the customers as well as makes good profits, making it a win-win situation for the business”. Therefore, business does not imply with producing goods and services, exchanging them for money and earning profits. might be perfect and give you a picture of achieving great results by optimum utilisation of resources involved however, if the employees are unhappy and not satisfied inside the organisation, the implementation of those planned ideas can go in the opposite direction as well. The ideas, planning, directing, controlling, etc. It’s not the people outside (customers) but also the ones inside (employees) that the business needs to keep happy, as they are the ones who can either prove to be an asset or a liability for the business. With the ones discussed above, they need to take care of the human resources in their business, i.e., the people working inside the organisation. The large scale businesses have a lot many other things to take care of as well. This was the case of small/micro business until they come up with some great ideas to get back their customers and retain the market position. This does not stop here, especially if it’s unforeseen, because if the planning goes wrong, it consequently leads to a greater loss than expected. Thus, with this comes the risk of losing loyal customers, which leads to fewer profits and ultimately lowering the market share and value. Human resource processes, human resources management & others
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