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two key management functions that need particular attention when starting a business are pdf – two k

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Two key management functions that need particular attention when starting a business are strategic planning and financial management. Strategic planning involves setting goals and objectives for the business, developing a clear vision for where the company wants to go, and creating a roadmap to achieve those goals. It also involves analyzing the market, understanding the competition, and identifying potential risks and opportunities. Financial management, on the other hand, involves managing the company’s finances effectively by creating budgets, monitoring cash flow, and ensuring that the business stays within budget. It also involves making financial decisions such as pricing strategies, investment choices, and funding options. Both of these functions are critical for the success of a new business as they help to ensure that the company is moving in the right direction and is able to sustain itself financially.

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