Why do we need management? Management is an essential part in business a business is an ongoing activity is a lifestyle that doesn't run itself. Managers tend to set goals, determine how to reach those goals and make all the necessary and critical decisions. Such decisions include setting prices also you will have to hire, train and motivate employees now or as the business expands.
Describe the key functions of management and why these are important? Planning: in my opinion is the most important element of management, having appropriate planning course of action can affect a company, both positively and negatively is determined and implemented to attain the company's goals and objectives.
There may be sudden strategies, required to be implemented during a crisis. Organizing: Is structure of the organization. It is vital because it takes everyone and everything working together for the goals to be achieved, in an organized manner everyone knows their key role to have a successful venture.
Leading Is made up of a managers vision on how he wants his business to be ran then is hands on from there a manager must be able to Guide, Coach, Motivate, and Train a group of individuals, o that the goals and objectives are achieved and make that vision a reality.
Controlling: is an important asset that a manager brings it helps establish a solid but durable sets standards that are clear and are expected to be followed by everyone so that business can be successful.
