Best management practices for businesses; Steps on how to establish & manage your business



What is Management?

It is concerned with using skills and authority of guide, direct, handle and control the factors of production (both human and material) to achieve a desired goal.


Management is using resources to reach a goal. Your resources are whatever you use to help reach your goals.

When you manage, you work to get something done in the best possible way. The process of management involves three main steps. The first is planning or making plans, the second is organizing and then the third is controlling.


If a person wants to establish a business, he/she has to plan how to use the resources available to him. Planning is an important step because it tells the person where he is going and the things he wants to do.

Planning consists of many activities. The first thing to do is to set objectives or goals. That is what you want to achieve.

Another activity in planning is to make a short and long-term plan. In this case, if someone wants to establish his or her short-term objective, this objective is to get money to buy something to eat. But his or her long-term objective is to be an exporter. But you can meet your short-term objective in a short period. It might be hours, days, or weeks. The long term objective may take months, a year, or many years
once the goals or objectives are set, there is the need to determine the requirements. That is to identify all the tools or resources needed to be able to establish the business. ln this case, the resources could be money, time, energy, ideas, and other equipment and tools.

Finally, there is the need to determine the procedures to be used to achieve the goals and objectives. This means that what you need or what you will do to achieve your goals must be arranged in order. These activities,  that is, setting objectives, determining requirements, setting long and short-term goals, and determining procedures to be used, make up planning.


Organizing is the breaking of big tasks or into smaller tasks. Organizing makes work seem easier.

The first activity in organizing is to determine what is to be done to achieve your goals. For instance, you are a farmer and you want to produce hundred bags within a particular year. Do you have to hire more laborers or buy a new farm tractor to be able to produce the hundred bags of maize?


Secondly, the duties of workers should be determined. That is, every worker should be made to know what he or she is supposed to do. For instance, the foreman, should not do the work of the watchman.

Thirdly, organizing involves selecting and training workers. Workers should be trained and retrained. When a computer is bought, the typist should be trained to know how to use it. This will help increase productivity.

Finally, workers should be supplied with the tools, equipment, and any other things that will help to produce more. For example, if you are the farm manager what are the tools and equipment and that will be supplied to your workers?


Controlling means ensuring that everything is done according to established rules and regulations. Controlling involves many activities. The first activity in controlling is supervision. Workers must be supervised to ensure that they do the right things all the time. For example, their time of coming to the work place should be supervised. What will you tell the a worker who always come to work late?

The second activity involved in controlling is assessing workers’ performance. Assess workers to make sure that they did what they were told to do. If they did, how did they do it? Did they put up a good performance? The assessment of this workers’ performance will help management regarding promotions, transfers, training and dismissals.

Finally, a further activity in controlling is assessing products. Products are the goods produced by the organization. The management will have to assess what have been produced to ensure their quality – whether goods of best quality have been produced by the company or whether there should be more input to improve upon production in order to achieve the goals of the organization.


Management can be applied to specific situations. That is, it can be applied when;

1. Managing your studies in school

2. Selecting and preparing a meal.

3. Setting up a barbering shop

4. setting up a farm and

5. setting up a factory.



Leave a Reply