RATIONALE:
Small business owners are not only entrepreneurs but they are also usually the managers of their businesses, at least in the early years. As a generalization, most individuals go into business because they've come up with a great idea, not because they are great managers. A basic foundation in management development will help prevent you from running your business into the ground before it has had a chance to get off to a good start.

The information in this fifth (5) Step on MANAGEMENT DEVELOPMENT deals with a variety of issues and is divided into three (3) major parts: A. Nature of management in a small business; B. Management Development Support Materials; C. Personal Management Techniques.

1. NATURE OF MANAGEMENT IN A SMALL BUSINESS: (Exercise)
   The product defines management and the different components that comprise effective management. Management's relation to leadership is also reviewed. Rounding out this section is a presentation of the environments's (external and internal) impact on managing a business.

2. MANAGING DEVELOPMENT SUPPORT MATERIALS: (Exercised and Readings)
   This next product is directed at actually managing your small business. This is done through a series of tips or best practices on a series of specific small business operations. These specific management operations areas include:

   Ethical Behavior Product Improvement Management Operations/Personnel Manuals Planning Succession Planning

   Planned Change Financial Management Marketing General Business Model Risk Management

   External Environment Human Resources Office Management Management ID Process

3. PERSONAL MANAGEMENT TECHNIQUES:
   The third part of Step 5 on MANAGEMENT DEVELOPMENT describes several Personal Management Techniques that are typically concerns of first time, small business owners. Examples include Time Management, Stress Management, Planned Change, and Problem Solving/Decision Making. The PERSONAL MANAGEMENT TECHNIQUES section is included under Management/Leadership section within the MANAGING DEVELOPMENT SUPPORT MATERIALS (B).

EXPECTED BENEFITS:

Completion of this 5th Step on MANAGEMENT DEVELOPMENT should help you to determine your management/leadership weaknesses (if any), what specific areas of management your business will most likely require, and how you might initially address those management needs. You will also learn some key points on to how best manage some specific operational areas, common to many small businesses.

In the last section, several personal management techniques are addressed which should help you to weather the ebbs and flows of business life. From a potential warehouse full of such needs, time management, stress management, planning, and problem solving/decision-making have been selected.

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