In today's high paced business world, management is a key aspect of business success or failure. When management is tight in an organization leaving noting to be overlooked success is bound to happen. Many individuals think that management is a simple thing, but in all reality it involves many steps to be taken in order for yourself to be called a manager and your department to be called management. There are four functions of management, planning, organizing, leading and controlling. In this paper I will explain in-depth the vital importance of all four.
In its most general sense, business planning is all about taking your dream and turning it into reality. A business plan is the document you create when you take an idea for a commercial endeavor and work through all the factors that will have an impact on the successful startup, operation, and management of the business.
Smart entrepreneurs plan, not because accountants or business advisors tell them to, but because they understand that it increases their chances for success. Sure, there are successful businesses whose owners fly by the seat of their pants and never create a written plan. But they succeeded despite the lack of a formal plan, not because of it (Zeldman,1999,p101). In my organization, I work in the real estate business planning is our key to our market. We use it to plan expansion into new markets or even to expand in current markets. I asked my branch manager what we thought about planning he replied. "Without planning this company would not be here".
After planning a business, what happens next? You need to organize what you decided in your plan map as I like to call it and ask yourself a few question. How will your business be organized? Will it...