Ways in which effective management practices may contribute the success of a business

Explain five ways in which effective management practices may contribute the success of a business

  • Proper planning is put in place so that good results can be anticipated and also accommodate future changes.
  • Relevant strategies may be established so as to achieve desired
  • Setting clear goals and objectives so as to achieve the intended results.
  • Providing and using organizational resources efficiently and effectively. This involves budgeting to avoid wastage and misuse.
  • Proper time management to ensure set activities (tasks) are accomplished within the required time.
  • Good supplier/customer/employee relations to attract and retain them (suppliers, employees and customers).
  • Corporate social responsibility is fostered. This builds on the image and reputation of the company.
  • Compliance with legal requirements in order to operate smoothly and avoid conflict with law enforcement authorities.
  • Motivation of employees to increase productivity.
  • Proper organization to avoid overlap/duplication of duties.
  • Proper direction to ensure activities are geared towards achieving the set goals.
  • Identifying the required skills/training relevant staff for smooth running of the organization
  • Monitoring/evaluating/checking that planned activities take place in order to achieve desired results.
  • Proper co-ordination to reduce conflicts




effective management practice
Effective Management Of A Small Bussines



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