What are the 9 Golden Rules of Effective Business Management?

Business Management

Ever wondered what makes a manager stand a class apart from other employees in a company? If it isn’t their capability to achieve the greater good by keeping every subordinate intact and working together towards achieving a single goal! If you seek a way to become a successful manager, here’s an article that will help you establish that. Effective business management is not all about being bossy and ruling everyone around like a Pharoah from Egyptian times; it’s more about positive leadership and getting jobs done without breaking a sweat. Are you a budding entrepreneur or just started as a manager in your organization? Here are the nine golden rules to help you become an effective business management guru.

 

Rule # 1: Share Ideas & Insights with Subordinates

What happens when you are not well informed? You feel left out. The same is the case with your subordinates. When you don’t inform them of the latest developments within the company or your surroundings, if you don’t update them on the achievements or communicate proper goals, they will feel left out. And believe it or not, but nobody wants to feel left out. When you involve subordinates in every step of the process, they will feel empowered and make more effort.

 

Rule # 2: Give Subordinates Space to Share New Ideas

An authoritative style of leadership isn’t always the best way to get things done. Often then not, it makes your subordinates lazy & non-interactive. They will work every day just to fulfill their duties. Do you know that lack of motivation cost the entire corporate industry a loss of over 300 billion dollars? Only 29% of the employees felt motivated and passionate about their respective duties. A large chunk of its responsibility falls on the shoulders of ineffective business management. If your subordinates are creative & bring some number crunching ideas to the table, empower them to share ideas with you.

 

Rule # 3: Become an Example for Your Subordinates

Want to be a sharp leader? Speak through setting examples. Words can only affect a considerable amount of time, but their effect won’t be long term. If you want to leave an everlasting impression, set an example for your employees by doing something over the top. Don’t set bad examples for your subordinates because employees often choose to follow in your footsteps. Don’t overburden them or assign them duties more than what they can fulfill. Take your work seriously, and you will automatically see a similar effect take place within your employees.

 

Rule # 4: Create Work Enjoyable for Others

Don’t be a strict professional when working in a workplace with your subordinates. Strictness will only lead you to more demotivated employees who are unable to produce any effective results. If you want to see your subordinates outshine, create work an enjoyable moment for them. When they are enthusiastic & filled with energy, they produce results that far exceed your expectations. You may find them in their zen modes, and that’s when the creativity sparks up. While a stressed mind can generate results productively from a mediocre standpoint, a fresh mind can generate creative results every once in a while.

 

Rule # 5: Business management – Focus on Clarity in Communication

How effectively you’re able to communicate with your employees will define your success as a manager. When delivering instructions, communicating values, or updating employees on organizational updates, be sure to do them in an accurate, concise, and clear manner. The thoroughness of your communication is significant because it will decide how effectively your employees will perform. You don’t necessarily have to communicate to them verbally; you can do it through SMS, emails, or some other way.

 

Rule # 6: Recognize Hard Work & Cherish Your Subordinates Publicly

Motivation fuels up when employees feel that they are recognized for the efforts which they put in. If one of your team members does something beyond expectations, then it’s worth praise. Make sure to reward them with a bonus appreciation in front of other subordinates in a casual tone. Let others know that he/she is well deserved to be a part of the team, and you cherish their presence. In turn, others will equally feel motivated to put in hard work and get such appreciation. Take them out for lunch, give them a small token of appreciation or just hand them down a promotion to show you care about them.

 

Rule # 7: Focus on Your Subordinates Based on Their Capabilities

Every team comprises a number of individuals, and all of them have unique personalities. What may be one subordinate’s strength might be another subordinate’s weakness. It’s up to you as a manager to identify who’s good in which area and how they can best fit the situation. Don’t go with the one-size-fits-all approach where everyone has equal responsibilities and an equal number of tasks. Instead, find out who’s excellent in which area and how he/she can become more effective. Then leverage them with the resources which they require to groom themselves.

 

Rule # 8: business management – Learn to Say NO!

Sometimes, there’s negativity brimming up in your team, and you don’t realize it until you start seeing poor quality work. If your subordinate submits you poor quality work and feel casual about it, don’t let them overshadow your leadership. Learn to say NO! By doing that, you’re doing yourself a favor and helping the employee improve. Your plan should be to evolve them from their comfort zones and help them polish up on their skills so they can be better at their talents. If they aren’t connected with the growth patterns, they won’t evolve.

 

Rule # 9: Maintain Complete Transparency Among Yourselves

Do you want to promote trust among your employees? Establish effective transparency. Many organizations fail to perform and create better results just because there exists no level of trust or transparency among employees & leaders. As a manager, you need to make sure that doesn’t happen within your organization. Trust fades when you lie to your subordinates or give them false promises. As a business owner or a manager, make sure never to commit such a mistake no matter the circumstances. Be honest with your employees & keep everything well transparent. Don’t bring out the worst in them, focus more on bringing out the best in them.

 

Effective business management

Effective management is more than just driving your employees to strive harder and achieve better. It’s not even about acquiring efficiency in production. In modern times, effective management co-relates to how much emotional intelligence you have developed over time. If your employees have negative resentments for you, you’re not a successful manager. You may turn out to be productive for a company but it will be short-lived. You won’t be able to establish enough room for creativity or breed a better professional circle. So if you want to harness the capabilities of creating a positive environment within your workplace, above discussed are the 9 rules of effective business management.