Business Management Essay Example for Free

Business Management EssayAccording to Joss (2001),a set of rules or strategies ar exercised to comptroller and direct by an organization effectively and efficiency, manpower is involved to work together in an organization to achieve a common mission continuously. Different skills argon selectd and performed by a film director, much(prenominal) as leadership skills, organizational skills, etc. Particular person, in an organization, should shoulder the responsibility and produce results is c eithered manager. Managers require specific experience and qualification, to make any important decisions and lead their teams to accomplish a goal. Management ar classified into quaternity levels, they are top managers, middle managers, first-line managers and non-managerial employees respectively. (Oxford, 2009 Joss,2001)Functions of managementThere is a cycle of four rifles of management to begin with achieving the stated mission, they are planning, organizing, leading as well as controlling.Planning is angiotensin converting enzyme of the functions that preparing and evaluating what and how they can improve to do even better. They can plan for the desired achievement or combine their current structure. Organizing is a way to utilize resources and guide the manpower in a specific way, since coronation and employees are very pivotal for successful organizations. Leading is the best way to influence and coordinate the workers, as the managers motivate their left-right hands. Motivation means the managers inspire and persuade them to do their best in a euphoric way. Controlling is the final step amongst four functions. The managers monitor the current productivity and ripe the mistakes or ways they perform. (Tripathi and Reddy, 2008)Q2According to Mintzberg (1990), the managers are grouped into ten roles by three main categories. They are Interpersonal roles, culture roles and decisional roles.Analyzing a manager Richard BransonWhen I reviewed the functions, roles and skills, there is no denying I admire a manager Richard Branson a ken, who is the founder and director of new crowd. He is approximately 63 familys old now, he experienced nearly 47 years in diametrical categories of business. They are record stores, air travel, soft drinks, radio, clothing, holidays, etc. The reason he could own business in different sectors, because he performs different managerial skills and roles, in the first place use interpersonal skills and conceptual skills. (Branson,2007)Although Richard Branson did not puddle any huge plans at the beginning, he performed the function of planning to define the missions for his business, especially his airline. He wants to make his airline growth with revenue, to drive the passengers to their destinations and the employees are cheerful to stay and work for the companies. (Virgin Atlantic, 2013)For the interpersonal skills, he has very good relationship with his own employees. To be a good leade r you have to be a great listener. said by Richard Branson. No doubt, he doesnt only require employees to treat the customers well, but also openly listen to the employees ideas, in order to correct the existence problems and bombing new ideas for future integration. He creates new business by communicating with workers. flat though Branson has more than 200 cabin crew, he still spends time with them, listen to their requests. Because he thinks it would be the best way leading them to work in a delighted environment is a business, closure the obstacles would not be the only situation. (Branson,2012)For the conceptual skills, he has unique business sense of sustaining and desegregation his business. For instant, before he established Virgin Atlantic, he was doing the business of Virgin Music successfully. A lawyer persuaded Richard to send in airlines he was taking risks of promising, as he has no experience. However, he analyzed every risk, strategies and orifice of earning mon ey after making up his mind he even performed the function of organizing that thinking of the year plan and finding out the reasons why the competitors offered the market prices that low. Until now, Virgin Atlantic is the second largest airlines in the UK. (Branson,2009)In reality, most of the businessmen may not accept this challenge, because they want to ensure the risks are lower than the returns before taking any plans. Richard Branson used to equip himself with different financial perspectives therefore, he can make a right decision quicker than a normal businessman and this shows that he was performing decisional roles. (Branson,2009)Although Richard Branson has a lot of insight of different perspectives, he would sometimes face the failure. He would want to compete with Coca-Cola and Pepsi for launching Virgin Coke. Nevertheless, he underestimated his competitors, as the location distribution is crucial to drinks industry. Therefore, he performed his function of controlling and the skills of managing changes, to correct the mistakes they made. He changed the location from the USA to Bangladesh and was being the best cola drink there. (Branson,2009)Q3Reflection of myselfIt is possible that everyone would possess managerial skills, including myself. I do possess human skills, conceptual skills and technical skills.However, no matter what my job aim is, the degree of owning these skills is not the same.If I request to rank three of them, interpersonal skills would have the strongest degree. I have communication skills and leading function. As I have to deliver the responsibility to other committees and negotiate with suppliers to deoxidize our costs therefore, my communication skills have been greatly improved by being figurehead and negotiator. Besides, I need to help keeping a good relationship with the external world.Additionally, I have the function of organizing and the skills and roles of decision-making as well. Being the leader in a team, I ha ve to allocate works to my teammates as a result, I need to organize all the plans before delivering to anyone. Besides, I faced a lot of obstacles, which are in sudden. If the original plan is not working, I need to perform the function of controlling, to think of another(prenominal) most suitable plan immediately.My conceptual skills should be enhanced, such as predict the future preservation situation accurately or invest any properties in a smart way, as integrating our business is the most significant part of upholding current and achieving goals. I would like to be the top manager in next five years or more, who will own at least few shops. Knowing how to calculate the expected return rate and risk would be the first step. Therefore, I would like to learn how I could buy any properties without using my own money, but using the earned get to invest and earn new profits.It seems my thoughts can be easily accomplished in words, but different skills are involved. Therefore, I sh ould start understanding the bankers thought and how is the banking systems working, and then I could negotiate with them fluently. Because loans from the bank may be the helping hands of my first business.However, my technical skills are not good enough. Lacking of the familiarity of advanced technology and particular software, my technical skills should be enriched as well. Although technical skills are very crucial to some managers, I will not put a lot of effort on study them. Because first-line manager can be hired for monitoring the daily processing systems yet, I should learn how to use software to read the financial statement and make proper decision for expanding my business.Additionally, I should briefly neck the transactions processing as well, to prevent the employees from making their own interests. Last but not least, employees are the assets of my company I should learn how to use the best resources and people with the lowest costs to boost the productivity and ach ieve my goals.In conclusion, management is very crucial to an organization. As people cannot entirely perform all the functions, roles and skills in a specific position, managers are required to shoulder their responsibility continuously to help achieving the define mission. Besides, reflecting our strengths and weaknesses would be other criteria to run successful business.Bibliography Branson,R. , 2007. Business the Richard Branson Way 10 Secrets of the humans superior Brand Builder. 3rd Edition. Great Britain The Random House Group Limited. Brason,R. , 2009. Losing My Virginity The Autobiography. Great Britain The Random House Group Limited. Branson,R. ,2009. Business Stripped Bare. Great Britain The Random House Group Limited. Branson,R. , 2012. Like A Virgin Secrets They wont Teach You At Business School. Great Britain The Random House Group Limited. Joss,R.L.,2001.Management. Australian daybook of Management, e-journal 26,p.89, Available through London School of Econ omics and Political Science http//www2.lse.ac.uk/library/home.aspx Accessed 2February 2013. Oxford, 2009. dictionary of Business and Management. United States Oxford University Press. Tripathi,P.C. and Reddy,P.N. ,2008. Principles of Management. 4th Edition. India The McGraw-Hill Publishing Company Limited. Mintzberg,H. ,1990. Mintzberg on Management Inside Our Strange World Of Organization. United States of America The Free Press. Virgin Atlantic,2013. Our Mission Statement. online Available at http//www.virgin-atlantic.com/en/gb/allaboutus/missionstatement/index.jsp Accessed 13 February 2013.