Business management is the key to the success of a business that can develop, be organized and can anticipate future risks. Management functions as a regulator for something that will happen. Before starting a business, e procurement must make professional business management steps. The aim is to increase the opportunities we can achieve in the future.
In business management there is a business plan that contains the goals, strategies and steps we take in building our business.
4 Main Keys in Business Management
Before discussing good business management, it would be better if we understand the 4 keys that we must follow in shaping business management. Here is the explanation:
- Production Management
Production management deals with the availability of raw materials or products that are the source of our sales. In production management, all matters relating to the product will be arranged.
Starting from raw materials, the manufacturing process to packaging will be arranged in production management. All products that we sell must go through production management control before the product starts to be marketed.
Production management functions to oversee the course of product manufacture. All products must pass quality control and there should be no defects in the products we are selling. All under the responsibility of production management.
- Marketing Management
Marketing management plays an important role in the development of our business. Because marketing management serves to sell products in our business.
Not only selling, marketing management will conduct market research, determine target markets, make market analysis, research competitors and determine the right type of marketing strategy.
Marketing management holds the key to business development. Because the wider the market we reach it will be the bigger our business opportunities.
- Distribution Management
After marketing management determines the target market, distribution management functions to assist marketing management.
E procurement distribution management must ensure that the supply of products to the market must be smooth. if the distribution of goods is jammed then the marketing performance will also be stuck.
Distribution of products to consumers is held by distribution management which is also assisted by marketing management. If one of them is stuck, the product will not reach the costumer.
- Financial Management
Not only marketing management holds an important key, in a financial management business has the toughest task.
Financial management plays an important role in making the company more developed. The circulation of money in business must always be open.
Marketing management functions to earn money and financial management functions to manage the money entering and leaving our business.
We must have good financial management so that all the money that goes into our business can rotate properly. Starting from the funds to buy raw materials, to the marketing process and turning back.
These 4 keys in business management are often not followed by many young entrepreneurs. Even though these 4 keys play an important role for our business. e procurement must follow these 4 business management keys so that you can manage your business stably.