Can You Explain The Basic Concepts Of Management And Recognize Problems Faced In Operating A Business Enterprise.

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The basic concepts of management are planning, organizing, compensation and benefits, controlling and motivating. While running a business the person can face many problems such like, recruiting a best staff, create cooperation and coordination among the staff to get the maximum output, meeting the objectives and milestones on timely basis and much more. For more and detail information read any principles of management book.
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The basic management concepts include the Porters' five competitive forces, 14 principle forces of management by Fayol, Marketing mix by McCarthy, 7-S framework by McKinsey, Breakeven points and a number of others and to get the details and explanation click on the link below:
Concepts Of Management

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Well the basic concept of managing a business is to first hire your staff you need to operate your business. The problems you may face is getting little to no business at all your first year in business.

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