Answered: What are the main functions of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

What are the main functions of management. Explain why

Expert Solution

Introduction to Management

The business have the basic criteria based on various principles of which one is known as "Going Concern", As business is established as the entity which is for a long term providing resources to society and member associated with the organisation, therefore management of the business the primary concern to run the business.

Essentially Management is known for the control over the business with various activities associated with the organisation such as Planning, Organizing, directing, staffing, controlling and various other process in the organisation formulated together to achieve the similar objective of the organisation with desired vision.