IntroductionIn business, we often focus less on good management, and more on the glamorous and exciting work of leadership.Managers take full responsibility on the decisions made for the enterprise. These decisions will translate into either gain or loss for the business; therefore, managers should have a better grasp of what they want to be.
Operating the business tests an entrepreneurs potential in securing and managing resources. The business future is determined by the owners or manager’s skills, talents and abilities to face challenges and overcome difficulties.
The Managing Your Business module was developed to deal with the significant needs on improving management approaches towards conflicts, risks and communication issues related to the operation of the business.(For a better understanding of this module, take a knowledge about the factors of production)
Unit 1: Basics of Management
At the end of this module, you will be familiar with the basic concepts, understanding and knowledge about management. Specifically, you should be able to:
a) Define and analyze management in general term and in different categories.
b) Analyze and perform the objectives of Management to oversee significances of management.
c) Define each of the functions of management (Planning, Organizing, Staffing, Directing and Controlling).
d) Apply your learning about the characteristics and processes of the functions of management.
e) Identify the relationships between functions of management.
f) Make a stand on the significances of the functions of management.Management is the process of getting activities completed efficiently and effectively with and through other people. It is a very popular and widely used term. All organizations – business, political, cultural or social are involved in management because it is the management which helps and directs…