--- title: Business Growth Blog | essentials of management description: essentials of management | Business Growth Blog, giving insight to owner-managers and entrepreneurs to help grow their businesses. Powered by the Cranfield School of Management Business Growth Programme (BGP) --- [![School of Management Logo](https://blog.som.cranfield.ac.uk/hs-fs/hubfs/LD_Blog_Live_Site_Files/logo-som.png?width=580&name=logo-som.png "School of Management Logo")](https://blog.som.cranfield.ac.uk) - Blog Topics - [Business Growth](https://blog.som.cranfield.ac.uk/bgpblog/topic/business-growth-challenges) - [Family Business & Succession](https://blog.som.cranfield.ac.uk/bgpblog/topic/succession) - [Not-for-Profit Growth](https://blog.som.cranfield.ac.uk/bgpblog/topic/not-for-profit) - [All Blogs](https://blog.som.cranfield.ac.uk/bgpblog) - Learning - [The Business Growth Programme](https://www.cranfield.ac.uk/som/open-executive-programmes/growing-businesses/business-growth-programme) - [Essential Management](https://www.cranfield.ac.uk/som/open-executive-programmes/growing-businesses/essential-management) - [Sales Essentials](https://www.cranfield.ac.uk/som/open-executive-programmes/growing-businesses/sales-essentials-for-success) - [Finance Fundamentals](https://www.cranfield.ac.uk/som/open-executive-programmes/growing-businesses/finance-fundamentals-for-growing-businesses) - [Masterclass: Selling Your Business](https://www.cranfield.ac.uk/som/open-executive-programmes/growing-businesses/selling-your-business-masterclass) - More - [Contact](https://blog.som.cranfield.ac.uk/bgp-blog-contact) - [SUBSCRIBE](https://blog.som.cranfield.ac.uk/bgp-blog-home#sub-form) [Subscribe](https://blog.som.cranfield.ac.uk/bgp-blog-home#sub-form) - Menu Item 1 - Sub-menu Item 1 - Another Item - Sub-menu Item 2 - Menu Item 2 - Yet Another Item - Menu Item 3 - Menu Item 4 Quick links [Growth](https://blog.som.cranfield.ac.uk/blog/topic/business-growth-challenges) [Family & Succession](https://blog.som.cranfield.ac.uk/blog/topic/succession) [Not-for-Profit](https://blog.som.cranfield.ac.uk/blog/topic/not-for-profit) [About](https://blog.som.cranfield.ac.uk/bgp-blog-about) Hit enter to seach. ![](https://blog.som.cranfield.ac.uk/hubfs/LD_Blog_Live_Site_Files/Images/logo-responsive.svg) # Business Growth Programme # Succession Challenges # Not-for-Profit # All Blogs [Growth](https://blog.som.cranfield.ac.uk/blog/topic/business-growth-challenges) [Family & Succession](https://blog.som.cranfield.ac.uk/blog/topic/succession) [Not-for-Profit](https://blog.som.cranfield.ac.uk/blog/topic/not-for-profit) [All](https://blog.som.cranfield.ac.uk/bgpblog) FEATURED [WEBINAR ON DEMAND | Returning to the workplace - an HR guide - 14 May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/returning-to-the-workplace-an-hr-guide-14th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - How COVID-19 has impacted my business - 12 May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-how-covid-19-has-impacted-my-business-12th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - Where are we with this crisis? - 7th May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-where-are-we-with-this-crisis-7th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - Key Lessons from Webinars in April - 5th May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-key-lessons-from-webinars-in-april-5th-ma) Register for one of our FREE Business Growth Briefings.  [Register Now](https://blog.som.cranfield.ac.uk/ld-blog/free-business-growth-briefing) ![ebook-placeholder.jpg](https://blog.som.cranfield.ac.uk/hs-fs/hubfs/BGP%20Blog/BGP%20Images/Brochures/BGP_Brochure_Cover_Image-785650-edited.png?width=554&name=BGP_Brochure_Cover_Image-785650-edited.png "ebook-placeholder.jpg") **Download the BGP Brochure** This programme helps ambitious owner-managers, like yourself, who are looking to create a different and better future for themselves and their business. [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a) FEATURED [BGP Alumni Enjoy Massive Success at the National Business Awards **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/bgp-alumni-enjoy-massive-success-at-the-national-business-awards) Register for one of our FREE Business Growth Briefings [Learn More](https://blog.som.cranfield.ac.uk/ld-blog/free-business-growth-briefing) ![brochure.jpg](https://blog.som.cranfield.ac.uk/hs-fs/hubfs/BGP%20Blog/BGP%20Images/Brochures/BGP_Brochure_Cover_Image-785650-edited.png?width=554&name=BGP_Brochure_Cover_Image-785650-edited.png "brochure.jpg") **Download the BGP Brochure** This programme helps ambitious owner-managers, like yourself, who are looking to create a different and better future for themselves and their business. [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a) Register for one of our FREE Business Growth Briefings [Learn More](https://blog.som.cranfield.ac.uk/ld-blog/free-business-growth-briefing) ![](https://blog.som.cranfield.ac.uk/hs-fs/hubfs/BGP%20Blog/BGP%20Images/Brochures/BGP_Brochure_Cover_Image-785650-edited.png?width=554&name=BGP_Brochure_Cover_Image-785650-edited.png) **Download the BGP Brochure** This programme helps ambitious owner-managers, like yourself, who are looking to create a different and better future for themselves and their business. [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a) FEATURED [WEBINAR ON DEMAND | Returning to the workplace - an HR guide - 14 May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/returning-to-the-workplace-an-hr-guide-14th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - How COVID-19 has impacted my business - 12 May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-how-covid-19-has-impacted-my-business-12th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - Where are we with this crisis? - 7th May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-where-are-we-with-this-crisis-7th-may) FEATURED [WEBINAR ON DEMAND | Taking Stock - Key Lessons from Webinars in April - 5th May **Read More**](https://blog.som.cranfield.ac.uk/bgpblog/taking-stock-key-lessons-from-webinars-in-april-5th-ma) Register for one of our FREE Business Growth Briefings. [Learn More](https://blog.som.cranfield.ac.uk/ld-blog/free-business-growth-briefing) [![ebook-placeholder.jpg](https://blog.som.cranfield.ac.uk/hs-fs/hubfs/BGP%20Blog/BGP%20Images/Brochures/BGP_Brochure_Cover_Image-785650-edited.png?width=554&name=BGP_Brochure_Cover_Image-785650-edited.png "ebook-placeholder.jpg")](https://blog.som.cranfield.ac.uk/hubfs/Cranfield_Live_Site_Files/CF_Live_Images/ebook-placeholder.jpg) **Download the BGP Brochure** This programme helps ambitious owner-managers, like yourself, who are looking to create a different and better future for themselves and their business. [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/d6dc5788-a72b-474d-b2bc-40feeb4d3b9a) ## [Essentials of Management: Understand Sales and Profit Using 5 Key Terms](https://blog.som.cranfield.ac.uk/bgpblog/essentials-of-management-understand-sales-and-profit-using-5-key-terms) By Andrew Haworth ![](https://blog.som.cranfield.ac.uk/hubfs/BGP_Blog/BGP_Images/Landing_Page_images/calculator-calculation-insurance-finance-53621-791237-edited.jpeg) ### What gets measured gets managed. So, if you want to improve the management of your business and/or profitably, manage its growth, you’ll need to get to grips with your numbers and establish some useful metrics (measures of how you are doing). To do this well you’ll need to get comfortable with a few key financial concepts. [Read More](https://blog.som.cranfield.ac.uk/bgpblog/essentials-of-management-understand-sales-and-profit-using-5-key-terms) [0](https://blog.som.cranfield.ac.uk/bgpblog/topic/essentials-of-management/page/0) 2 \<\< First Last \>\> ### Subscribe for content updates [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe) [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe) [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe) [![BGP Brochure](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/417879/a5d52cdd-b804-4704-80b1-ae7626ca6ebe) Filter Our Blog by Topic [Growth](https://blog.som.cranfield.ac.uk/blog/topic/business-growth-challenges) [Family & Succession](https://blog.som.cranfield.ac.uk/blog/topic/succession) [Not-for-Profit](https://blog.som.cranfield.ac.uk/blog/topic/not-for-profit) [All](https://blog.som.cranfield.ac.uk/bgpblog) [About](https://blog.som.cranfield.ac.uk/bgp-blog-about)[Growth](https://blog.som.cranfield.ac.uk/blog/topic/business-growth-challenges) [Contact](https://blog.som.cranfield.ac.uk/bgp-blog-contact)[Succession](https://blog.som.cranfield.ac.uk/blog/topic/succession) [Subscribe](https://blog.som.cranfield.ac.uk/bgp-blog-home#sub-form)[Not-for-Profit](https://blog.som.cranfield.ac.uk/blog/topic/not-for-profit) [All Blog](https://blog.som.cranfield.ac.uk/bgpblog)[Cranfield](http://www.cranfield.ac.uk/) © 2026 Cranfield University | [Privacy Policy](https://www.cranfield.ac.uk/som/privacy-policy)