There’s No Organization without Business Management
Business management plays a crucial role in everyday business operations. Business management involves planning, organizing, resourcing, directing, and controlling an organization for the purpose of accomplishing goals (Reh, 2007). The success or failure of a company is highly influenced by the business management skills applied. Business management skills also affect international business. There have been opposing viewpoints on the necessity of business management. However, I believe business management is essential for companies to function adequately nationwide as well as internationally and to maintain an efficient workforce.
Business management has shown significant evidence for contributing to the prosperity of firms. American Express is an example of a successful company which utilizes business management skills. American Express has organized, resourced, and controlled all of its own operations since its founding in 1850. American Express has a detailed plan of its target merchants, small businesses, and corporations. It has developed distinct marketing programs for each segment. In the merchants segment, American Express focuses on convincing new merchants to accept the card and on managing relationships with those who they already do business with. For small business customers, American Express has created the OPEN Small Business Network. Small business cardholders can access the network for everything from account details to expense management. Finally, for larger corporate customers, American Express offers a corporate card program. This card includes travel management services, asset management, retirement planning, and financial education services (“American Express”, 2008).
Business managem ...