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Business Management in Manhattan Student`s

BusinessManagement in Manhattan

Businessmanagement is defined as the set of techniques and tasks employed towork as a link to stakeholders for the purposes of understanding thestructure, operations, and policies of an entity, and to giverecommendations about solutions that will permit the entity to attainits goals. This essay seeks to understand the Manhattan (Kansas)business management that is employed by its strategists and thepopulace as a whole.

Businessanalysis concerns understanding how a business entity functions toattain their purposes, and describing the capabilities a businessentity requires to roll out services and products to stakeholders. Itincorporates the definition of an organization’s goals, the waythese goals will connect to distinct objectives, charting the coursesof action that a business entity has to take to accomplish thoseobjectives and goals, and describing how the different stakeholdersand organizational units within and without that organizationinteract.

Businessanalysis is mainly carried out to:

  • Get a feel for the current position of a business entity or

  • Serve as a sounding board for the future identification of business opportunity and/or needs.

Moreoften than not, however, business analysis is undertaken to defineand validate solutions whose main aim is to meet business goals,needs, or objectives.

KeyConcepts in Business management used by Manhattan strategists

Domains

Domainsinclude the area of interest that is undergoing analysis andmanagement scrutiny. It may coincide with the boundaries of abusiness entity or organizational unit, including stakeholdersoutside those established boundaries and communication with thosestakeholders. These areas that interest the Manhattan strategists, inbusiness management and analysis, includes uncertainty,globalization, innovation, government policy and regulation,technology, diversity, complexity, information overload, supplychains and strategic thinking and problem solving. The problem isfirst entailed with effects and then an analysis is carried out onthe possible ways to manage it.

Solutions

Theseincludes set of recommendations that is to be implemented to thepresent state of a business entity with the intention of enablingthat entity to satisfy a business need, overcome a problem, orcapitalize on an opportunity. This is entails the breadth of thesolution is, in most cases, smaller than the breadth of the domain inwhich it is enforced. It will be the basis for the breadth of aproject that puts into uses that solution and/or components.

Requirementsin managing a business

Accordingto the BABOK&nbspGuide,which is used mainly by the Manhattan business strategists, it showsmain requirementsin managing businesses. They include:

  • A stipulation desirable by a stakeholder to decipher a problem or attain a purpose.

  • A capability or condition that must be possessed or met by a resolution or its component to satisfy an agreement, standard, specification, or other formally imposed documents.

  • A documented representation of a condition or capability

  • Following and building on this definition, a requirement may be unspoken, implied by or sifted from other requirements, or explicitly declared and supervised.

Manhattanis among the best places in America to locate a business. One of itssuccess stories is the Upper Manhattan Business Outreach Center. Thisorganization connects small businesses and in this way, helpsstrengthen local economies.

Settingsof Manhattan business management goals and values

  • Choose the strategies that Manhattan wants to implement.

  • Strategies must focus with the restructuring of Manhattan, as these aids in guiding and sustaining varies.

  • Policies should be designed in such a way as to allow adaptation to changing events in Manhattan.

  • Brainstorming is a great way of allowing fellow planners to contribute.

  • While developing the strategies of Manhattan business management, the planners and strategists must think whether it will allow a change in the organization

  • Re-evaluate Manhattan strategies that have failed in the past.

  • Make sure to avoid conflicting strategies in developing Manhattan business policies.

  • The most significant issues always show the most obscure problems. Consequently, it is advisable to Manhattan concentrate more on such matters.

  • Persistently query every Manhattan business idea to ensure clarity in every issue.

Thisbusiness management network of Manhattan

(Source:http://www.bocnet.org/boc/boc_services.asp)

Thisbusiness located in Manhattan, Kansas, a state recognized by Forbesas the number one state to locate and operate a business in due tominimal fiscal obstacles and regulatory blocks, could not havelocated their business in a better place.

Ina state of over 60,000 people, one would think that there is limitedcapacity for growth by businesses but BOC has tapped into a businessmodel of virtually endless potential.

Manhattan’sstable and thriving economy goes a long way in nurturing and groomingbusinesses, especially start-ups. There is vibrant constructionprojects underway which, paired with other factors, has seen aninflux of new money, in the form of investments, pour in the city.

Anexcellent and diligent workforce, its central location in the US,development incentives, a quality of life the best, extensivemilitary and educational resources topped by excellent transportationaccess must all have played a part in the verdict to locate thisbusiness here.

BOCis supported by a bulwark of facts that all help to make it growstronger almost indefinitely. Its main area of operation is smallbusiness and BOC has created a solid business model for smallbusinesses.

  1. Over three million businesses are SMEs and this number keeps growing.

  2. These small businesses represent almost 99% of all US employers.

  3. They create over half of all new work.

  4. They are responsible for 47% of all sales in the US

  5. They produce 55% of all innovations.

Overlaythe above with these facts: –

  1. New entrepreneurs account for over 45% of BOC Network Clients.

  2. Over 8000 SMEs and would-be business owner have been given assistance by the BOC staff.

  3. $23 million has been accessed by BOC Clients in the form of business financing.

Conclusion

Whenyou analyze this, you realize that BOC has huge potential to grow andexpand its operations. The rate of new application to BOC is high butit is my opinion that it should lower this and concentrate on alreadyestablished businesses, which present a much lower risk thanstart-ups. Having said that, it is understandable why BOC is willingto take such risks. It has minimal competition and any would-becompetitors would find themselves fighting against an entity that isentrenched. An entity that has created a very professional andrecognizable brand, an entity that has carved out a niche for itself.

Thefuture of BOC is bright considering that small businesses createthree quarters of all new jobs which means that those businesses areexpanding and as a result they are more probable to take a loan tohelp in that expansion. Since BOC have been with this start-up fromthe beginning, in fact helped to start them, they are most likely tofurnish the loans themselves.

Thebusiness environment of Manhattan has realized the success of BOC,largely. The chamber of commerce here has ensured that working withlocal officials is a breeze. These factors have made the cost ofstarting and operating a business as low as possible.

References

Cathy,A (2009). HospitalityStrategic Management: Concepts and Cases.Manhattan: John Wiley and Sons. 676.

Cengage,L (2009). SmallBusiness Management: Launching and Growing New Ventures.Canada: New business enterprises . 556.

James,B (2007). BusinessPrinciples and Management.Canada: Cengage Learning. 724.