First of all let we know what is business.
Business is one type of process or way through which we can earn money. It may be profit or lose.
Here are the some main points which should be considered to start any business unit.
1. Planning
Planning is to collect information for the activities to be undertaken in business, consider them in advance and plan out how to do this activities.
In this you have to plan what type of business you want to do , task of planning is choosing. Business without planning is useless.
Here are some points which are necessary to consider while planning :
- Type of business
- Size of business
- Financial requirements
- Estimation of business income
- Estimation of financial needs
- Set a particular goal
These are some basic points that you need to consider while planning for any business unit.
2. Management
In simple words management is the art of getting things done through others.
Management is a universal process. every business unit is established to achieve certain objective . Management is a tool to achieve a goal that you have set . It is useful for the success of business unit.
Management is such a process which plans and control men, machine, material, method,money and market.
3. Controlling
According to management process planning is the first step and controlling is the last step.
Controlling means to evaluate the activities carried out in the business unit and take measures toward the obstacles raised.
Somehow, we can say that planning and controlling are the two sides of the same coin .planning performs the function of making plans while controlling ensures that activities are carried out according to plan or not.
Take these points in your mind and start your own business easily.
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