{"id":865,"date":"2016-03-31T00:00:00","date_gmt":"2016-03-31T00:00:00","guid":{"rendered":"https:\/\/www2.businessbroker.net\/blog\/2016\/03\/31\/management-management-management\/"},"modified":"2016-03-31T00:00:00","modified_gmt":"2016-03-31T00:00:00","slug":"management-management-management","status":"publish","type":"post","link":"https:\/\/www.businessbroker.net\/blog\/buying-a-franchise-or-business\/management-management-management\/","title":{"rendered":"Management, Management, Management"},"content":{"rendered":"<p style=\"text-align: left;\">If you see two businesses side by side, with one successful and the other not, chances are great that management is the difference.<\/p>\n<p style=\"text-align: left;\">A well-written business plan, with goals and pro forma financials to follow, and a good policies and procedures manual help you be a successful business manager.&nbsp; They eliminate many mistakes and allow you to mostly concentrate on decisions when changes occur.&nbsp; To improve performance, planning should be proactive, continuous, and creative, not reactive.&nbsp; To be effective, goals must be written, understandable, challenging, achievable and measurable.&nbsp; Applied intelligence software is helping decision makers be more effective and efficient, but nothing will ever replace the manager&rsquo;s need to make decisions.&nbsp; The overall quality of these decisions strongly affects the organization&rsquo;s success or failure. <\/p>\n<p style=\"text-align: left;\">Management involves leadership, which is an important part of management; but it is not the same thing.&nbsp;&nbsp; Managers have legitimate power within an organization.&nbsp; Leaders are able to influence others toward the achievement of goals.&nbsp; If you are purchasing a small business, you will likely be the manager; but a larger business will have managers under your authority.&nbsp; A good manager will be a good leader, earning the respect and trust of his\/her subordinates.&nbsp; Some suggestions for building trust are:<\/p>\n<ul>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Practice Openness<\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Be Fair<\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Speak Your Feelings <\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Tell The Truth<\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Show Consistency<\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Fulfill Your Promises<\/li>\n<li><span>&nbsp; &nbsp; &nbsp; &nbsp;<\/span>Maintain Confidences<\/li>\n<\/ul>\n<p style=\"text-align: left; margin-left: 4.5pt;\">Scheduling involves a list of necessary activities, their order of completion, who is to do each, and time needed to complete them.&nbsp; Preparing a chain of command on a chart for everyone to see and going over it in a meeting with all employees present can help eliminate any question as to who is each employee&rsquo;s immediate superior.&nbsp; It is especially important when promotions are given, as this simplifies communication and the placement of responsibility.<\/p>\n<p style=\"text-align: left; margin-left: 4.5pt;\">Every manager is involved with human resource decisions.&nbsp; If you are buying a business, it is important to keep the sale confidential until after closing for employees, customers, suppliers, and everyone.&nbsp; The buyer and the seller want the business to continue as it is and do not want to lose anyone.&nbsp; The chances of employees staying with the business are good at that point, as they don&rsquo;t have as much fear of the unknown.<\/p>\n<p style=\"text-align: left; margin-left: 4.5pt;\">When you prepare your business plan, you will plan for personnel needs and write a job description for each employee.&nbsp; This will include minimum acceptable qualifications.&nbsp; You will take an inventory of the current personnel and their skills and match with the overall personnel needs.&nbsp; You will then determine new personnel needs that must be filled.&nbsp; For a smooth transition, it is usually a good idea to keep personnel as it is until you are comfortable with the business and the employees are comfortable with you.<\/p>\n<p style=\"text-align: left;\">Change is inevitable, so managers must find ways to deal with it.&nbsp; It is occurring at an explosive, accelerating rate.&nbsp; External change forces tend to have a greater effect on a business, because management has little control over them.&nbsp; External forces include the marketplace, government laws and regulations, technology, labor markets, and economic changes.&nbsp; Internal change forces, which come from within the business include changes in strategy, changes in the workforce, new equipment, and change in employee attitudes.&nbsp; Even though change is inevitable, there is always some resistance.&nbsp; Most people get nervous about any change.&nbsp; Resistance from change can stem from uncertainty, concern over personal loss, and belief that the change is not in the best interest of the organization.&nbsp; There is usually conflict, and management must deal with opposition.&nbsp; Good communication is important between management and employees. &nbsp;The opposition might just be a misunderstanding or not having complete information.<\/p>\n<p style=\"text-align: left;\">It is important for management to remember that any change causes stress, whether it is good stress or bad stress.&nbsp; Good stress can enhance, enrich, and be a powerful motivator.&nbsp; Bad stress can cause job burnout caused by job-related stressors.&nbsp; These employees tend to be idealistic and seek unattainable goals.&nbsp; It is important for management to encourage employees to think creatively and positively.&nbsp; It is also important to let them know how much they are appreciated.<\/p>\n<p style=\"text-align: left;\">Management is so much more than keeping track of the sales and income.&nbsp; It is caring and appreciating the employees, customers, suppliers and everyone involved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you see two businesses side by side, with one successful and the other not, chances are great that management is the difference.<br \/>\nA well-written business plan, with goals and pro forma financials to follow, and a good policies and procedures manual help you be a successful business manager.&nbsp;<\/p>\n","protected":false},"author":3,"featured_media":53,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-franchise-or-business"],"yoast_head":"\n<title>Management, Management, Management - Blog<\/title>\n<meta name=\"description\" content=\"Management, Management, Management - Read now on BusinessBroker.net&#039;s Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, 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content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"465\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Punith Kumar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Punith Kumar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.businessbroker.net\\\/blog\\\/buying-a-franchise-or-business\\\/management-management-management\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.businessbroker.net\\\/blog\\\/buying-a-franchise-or-business\\\/management-management-management\\\/\"},\"author\":{\"name\":\"Punith 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