The following six fundamentals define business management,
That form the core of any businessman’s success and cement
His long-term survival skills to always remain relevant
By making the business earn profits to remain solvent.
Human resources are a company’s asset biggest,
As good employees mean results that are the best.
How employees are led to remain always ahead,
Enables a company to prosper and keep off red.
Communicate, inspire, cooperate and motivate -
The mantras for employees’ morale to elevate.
Quite complex and truly critical is Operations Management
For capacity planning, productivity analysis and improvement.
Efficient supply chain management is crucial as it defines
How the production will meet demand under tight deadlines.
Quality assurance and lean management too are important
For seamless business operations with no notes discordant.
Efficient management means, making every penny count,
And contribute to business operations day in and day out.
Accounting for decision-making is important and critical
For the business to run smoothly and improve every fiscal.
Anyone planning to start a business must invariably possess
Some basic accounting skills to successfully run the business.
Ensuring future business growth and its maintenance,
Managing capital to maximize the value of business,
Undertaking wise investments, mergers and acquisitions,
Need well thought-through and prudent financial decisions.
Efficient financial planning and decision-making are the key,
To ensure timely cash flows for the business to run smoothly.
Marketing is not merely advertising a product or service;
It involves discovering and analysing new opportunities.
Meaningful customer interactions provide important leads
For identification of changing customer desires and needs,
Thus facilitating the delivery of a strong value proposition,
Through targeting, product positioning, and segmentation.
Having the acumen to surge ahead of external forces remain,
Possessing the ability to competitive edge always gain,
Adaptability to the ever-evolving business environment,
Changing demands, competition and market sentiment,
All require in-depth planning and strategic management,
To attain business goals and initiatives with commitment.
(I have no business management qualifications and have never been into any business or trade. Through keen observation and long experience in the banking industry, I believe, the above, are the fundamentals of business management. With due apologies to the business management professionals please.)