BUSINESS MANAGEMENT

Anuj Bhatia

USTP MISSION
- Provide product of conceptualization and centralization
- Contribute significantly to the development of security and safety
- Energy sufficiency
- Technology solutions
- USTP Prism

= Grouping for Technopreneur on Business management

Reasons for starting up business

Function
- Branding is important
1. Human resources
o Providing production, brain of the organization
o Workforce, planning, operations, recruitments, training, appraisal
o Outsourcing human resource strategies
o Needs to be flexible
- The institution must be link to the updated industries
- Institution is providing us the basics

2. Finance and Accounting

o Pre-operation process
o Finance and Accounts
 Check and balance
 Director- ensure recording e.g. journal, ledger
 Return on Investment (ROI)
o Legal requirements
 NBI, etc.

3. Marketing
o 4 piece of marketing
 Product, price, promotion, place
 Level of demand
 Promotion – Making sure that the customers know about the product
 Multimedia, billboard, etc.
 Place – ensuring the good are available in convenience places

Problems
1. Cash
o Consider the location
o Cash flow is very important
o Capital in draining your cash
o Business is a fluctuating business
 2. Keeping up with the market
o Easily lead to business/market failure
o The more you succeed the more competitors you will have

3. Skill and attitude

o Backer system
o Balance the situation, the insights

COMPANY PROFILE
- 5 concept services
- 3 aspects
o Society
- At least 3 company objectives
- Make infographics
BUSINESS MANAGEMENT
- Is very popular term and has been used extensively for all types of activities and mainly
for taking charge of different activities in any enterprise

- Management has to see that task are completed and goals are achieved (i.e. effectiveness)
with the least amount of resources at a minimum cost (i.e. efficiency)

- Management is the process of designing and maintaining an environment in which

individuals, working together in groups, efficiently accomplish selected aims.” Harold
koonts and Heinz weihrich

CHARACTERISTICS OF MANAGEMENT
- Management is a goal-oriented process
- Management is all pervasive
- Management is multidimensional
o Management of work
o Management of people
o Management of operation
- Management is a continuous process
- Management is a group activity
- Management is a dynamic function
- Management is an intangible force

IMPORTANCE OF MANAGEMENT
- Management helps in achieving group goals
- Management increases efficiency
- Management creates a dynamic organization
- Management helps in achieving personal objective
- Management helps in the development of society

INTERPERSONAL ROLES
1. Figurehead – symbolic leader of the organization performing duties of social and legal
character
2. Leader – Motivating subordinates, interaction with them, selection and training of
employees
3. Liaison – Establishing contacts with managers and specialists of other divisions and
organizations, informing subordinate of these contacts
4. Monitor –
5. Disseminator of information
6. Spokesperson

DECISIONAL ROLES
1. Entrepreneur
2. Disturbance handler
3. Resource allocator
4. Negotiator (mediator)

- Planning
- Staffing – Consist of recruiting, training and developing people, who form part of the
organized efforts to contribute towards organizational growth
 - Controlling – devising various checks to ensure that planned performance is actually
achieved.

TYPES OF MANAGERS
- Top level managers
- Middle level managers and
- First-level managers

THE LEVELS OF MANAGEMENT

- Top management – sets the goals of the organization, evaluates the overall performance
of various departments involved in selection of key personnel and consults subordinate
managers on subjects or problems of general scope.
- Middle level management - responsible for developing departmental goals and initiate
actions that are required to achieve organizational objectives
- Supervisory management – takes charge of day-to-day operations
NURTURING INTRAPRENEURIAL MINDSET
- Context Setting
o Purpose – Why this workshop?
o Vision – What should change?
 Considering the community of society
o Strategy – How will it happen?
 Depends on the need, the economy, the time, the client, etc.
 The strategy stems out from the realistic objectives and goals

1. Adapt – Just like a water, Entrepreneur must be able to adapt to any situation, good or
bad, better or worst in order to be effective
2. Stay Calm – An entrepreneur must stay calm even in dangerous situations, because when
emotions are High, Intelligence is low
3. Experiment – Experimenting is taking risk, but it also means breakthrough, e.g. the first
iphone
4. Talk to strangers – Talking to stranger widens our horizon and understanding better what
the community and society needs or wants the most
5. Forget Perfection – Instead of aiming for perfection an entrepreneur must aim for
excellence, which is more realistic and attainable. Je ne sais quoi

- According to this graph, a life of an entrepreneur is surprising and challenging, you can
never expect an ordinary day, because everyday is extra-ordinary, meeting many
challenges and even achieve small wins. Although this life is rocky with many ups and
down, but at the end of the day you can exhale and realize that your life is great because
you are doing your passion. Falling down is not a bad thing as long as you will always
get back up

- Dyson got the cyclone idea from a Sawmill that used cyclone technology, thus came up
with the idea of using cyclonic separation that would enable a vacuum cleaner to not lose
suction as it picked up dirt.