Small Business Administration

Small Business Administration Overview
Small business administration covers several functional aspects of a small business company. Small business administration is an important part of the small business. Proper small business administration is extremely crucial for the success of the small business.

Small Business Administration – Planning
Planning is an important part of the administration of any small business company. The process of planning involves the determining the steps, that are to be taken, in order to achieve success. Planning could be done on a short-term basis and a long-term basis.

Small Business Administration – Organization
Organization is an important part of administering a small business company. The main aim of organizational activities is to ensure that all the various units of business are in perfect coordination.

The organizational activities of a small business company involve the following procedures:
Delegation of authority, span of control and responsibilities in the supervisory units
Identifying responsibilities to be performed
Specifying organizational responsibilities
Grouping responsibilities into departments and divisions
Small Business Administration Staffing
The process of staffing is a key component of small business administration. In order for the business to do well, it is important to hire the most suitable person for that specific job. The process of staffing involves the following steps:
Screening people
Deciding staffing needs
Recruiting people
Writing job descriptions

Small Business Administration Direction
In order for a small business to do well, it is important that it receives proper direction from the authorities, who are responsible for controlling it. The owner has to have excellent interpersonal skills. That individual should also be able to inspire people. The owner should also perform the following functions efficiently:
Providing efficient support system
Allocating resources

Small Business Administration Controlling
Controlling is an important part of small business administration. It principally involves the following steps:
Information Management
Instituting Corrective Actions
Measuring Performance

Small Business Administration Budgeting
Budgeting is an important part of small business administration. This process requires the owner to perform the following functions:
Applying budget control measures
Implementing a budget plan

 

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Last Updated on : 29th July 2013

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