OfficiaNet - Online Business Networking Directory 20 04 2024

OfficiaNet - Knowledge Base

Management

Management relates to the organisation and coordination of business activities, in accordance with the overall business strategy and objectives. It involves formulating policies, planning and controlling resources, and ensuring targets and deadlines are met efficiently. Besides having the obvious business skills, effective managers also require good communication, motivational and leadership skills.

Managing Time

Time management is a systematic approach to using time (a limited resource) to its best advantage. It involves allocating time by prioritising tasks, so that competing demands are dealt with effectively.

Managing People

Managing people, or human resources, relates to all the administrative tasks and policies associated with the personnel. It includes the recruitment process, training, encouraging staff development and qualifications, appraisals and the payment of salaries, as well as implementing policies such as Health and Safety, Equality and Diversity (Equal Opportunities), grievances and disciplinary procedures.

Managing Finance

Managing finance involves planning, monitoring and controlling the firm’s monetary resources. It covers issues such as establishing systems to keep financial records, raising capital, budgeting for activities and projects, accounting and auditing, and banking arrangements. Skills relating to funding, applying for grants, negotiating and selling also come under this category.

Legislation

Businesses are obliged to operate within the legislation established by the state, and possibly local by-laws. National and European legislation deals with issues such as tax and insurance requirements, employment law, indemnity insurance, data protection, Health and Safety, Equality and Diversity (Equal Opportunities), disability discrimination, working with vulnerable groups and environmental protection. At the local level, statutes can cover things like noise control and waste management.