business management essay topics

business management essay topics

Exploring Modern Business Management Practices

1. Introduction to Business Management

In managing a business, you will have to rely on the teamwork of others. Some of your decisions will be executed by others, and some will be part of others’ areas of responsibility. Whether large or small, modern businesses in any sector must not only conform to government regulations and issues, standards, and protocols, they must also, more importantly, seek ways and means of achieving efficiency and improving the quality of products, operations, processes, and management. This is where sound, up-to-date business management practices come into play. Without the knowledge and favorable working environment, it is not possible to meet raising customer demands nor is it possible to achieve acceptable operating levels of performance. If these performances are not achieved, the business will not survive in the highly competitive world of modern processes.

The business environment is the set of conditions – such as consumers, markets (competitors), regulations, and the economy – in which business is done. In business management, you don’t have to do everything yourself. The best way is the best to get others to do the job for you. That’s where decision-making comes into play.

Business management is the act of getting things done with the aid of people and other resources, with the aim of achieving desired objectives in the most efficient and effective manner. It is a continuous, cascading process that extends throughout the life of an organization. A thriving business is different from a surviving business. A thriving business is proactive, quick to adopt necessary changes in the face of new challenges. A surviving business helps itself as well through these means.

2. Key Theories and Concepts in Business Management

For those responsible for implementing such organizational change and aligning the organization’s workforce with grand organizational goals, dual objectives are served by using the information deficit explanation of employee disengagement. First, providing this type of communication enables employees to comprehend management’s vision and how efforts align with this vision. Second, job role, job instruction, and performance feedback changes become explicit actions that help to motivate and engage the folks carrying out the activities.

Strategic workforce motivation measures assist in accomplishing the organization’s grand goals and objectives. Given that information is the basis for developing both strategic and operational planning, the linkage between strategic planning efforts and internal communication becomes the preferred vehicle for motivating the workforce.

This research adds the leadership management function, operationalized, in the form of internal communication, to the strategic planning emphasis of such systems. Only then does the strategic plan have a realistic opportunity to motivate the entire workforce, from high level delineation of responsibilities geared towards the achievement of long term goals in strategic and operational plans.

Strategic and operational planning for accomplishing organizational objectives and its translation from grand goals into doable tasks is often not an easy task, and it is empirically proven that only a few organizations successfully engage large numbers of employees to support and implement organizational strategies or the grand vision of their organization.

3. Challenges and Opportunities in Contemporary Business Management

Finally, it is often stated that business has the potential for solving a host of social and economic problems. The improvement in quality of life and the contribution of business to national resources could gain from a wider acceptance of these potential contributions by management practitioners. Businessmen are no longer entitled to make money by adopting an abhorrent policy to the related social concerns of other significant segments of society. Resolving such conflicts in a consensus manner, rather than in a conflict mode, is clearly in the better long-term interest of all parties concerned.

Other difficult problems addressed include the adoption of family-related employer-employee problems to the increasingly diversified work force characteristics. The search for useful insights into contemporary management problems is an ongoing pursuit. Today the effort is taking place with more knowledge and resources than in the past. Moreover, the application of theoretical constructs has achieved greater sophistication with the benefits accruing to modern enterprise management.

The increasing complexity of business operations across industries has compelled management to seek innovative solutions to perennial problems. For example, manufacturing has reached an advanced stage of business competition that requires constant change to survive. Another major challenge, called for by the global dimension of management, is the often difficult task of multi-country business management. Here, the twin objectives of economy on a global scale and human relations form the winning combination. The partnership could also reduce the frequency and intensity of government conflicts.

4. Case Studies and Best Practices in Business Management

We all learn from other organizations, though, whether in the private, public, or not-for-profit sector. These unifying theoretical roots – that businesses and organizations learn through and from cases whether internally developed, published by respected academicians or researchers, or pitched by industry consultants or noted consulting firms. Although we believe that the case and scenario methodologies, as employed by the academy in concert with industry, hold promise to contribute faster and more broadly to organizational learning, we believe that together we can fast forward good and best practices available to the community in the most expedient manner possible.

This section discusses the use of cases and provides specific examples of university cases that were developed within internet-based environments. This section also provides examples of cases about specific businesses and organizations that university faculty, consultants, and private industries use. Furthermore, this section explains best practices to use in case studies and provides pointers for case studies and best practices in business management. The two following subsections include several typical cases that can be used to apply contemporary management, managerial accounting, marketing, or other management issues within the twenty-first century.