MODULE 1

MANAGEMENT

For any entrepreneur, running a firm is not a pleasant work. Not everyone is naturally
gifted with the ability to comprehend the different duties that fall under the purview of
business management. Not to worry! You can learn what it takes to support an
organization's expansion and prosperity by reading this explanation of what business
management is. Let's first clarify the fundamentals.

LESSON 1

What is Business?

The term business refers to an organization or enterprising entity engaged in

commercial, industrial, or professional activities. -Alex Dos Diaz -
Businesses often require business plans before operations begin. A business plan is a
formal document that outlines the company's goals and objectives and lists the strategies
and plans to achieve these goals and objectives. Business plans are essential when you want
to borrow capital to begin operations.

Determining the legal structure of the business is an important factor to consider,

since business owners may need to secure permits and licenses and follow registration
requirements to begin legal operations.

A good name is often one of the most valuable assets of a business, so it's important
that business owners choose their name wisely.
Most businesses operate to generate a profit, commonly called for-profit. However,
some businesses that have a goal to advance a certain cause without profit are referred to
as not-for-profit or nonprofit. These entities may operate as charities, arts, culture,
educational, and recreational enterprises, political and advocacy groups, or social services
organizations.

Believe it or not, some of the most iconic brands once went by different names, and
it’s hard to imagine these companies becoming as well-known as they are now.
Naming a business may seem trivial, but it carries much weight. A great business
name should reflect your business’ identity and goals. Changing your business name is
cumbersome and costly: you must notify the IRS, apply for a new employer identification
number (EIN) and change licenses and permits. Ideally, your business name is forever.
It takes five to seven impressions for people to remember a brand, but it only takes
people seven seconds to form an impression of your brand.
Having a memorable, catchy brand name that evokes the correct associations will
help it stick — and brand recognition has enormous implications on your bottom line. Here
are some strategies for choosing a business name wisely.
Business activities often include the sale and purchase of goods and services.
Business activity can take place anywhere, whether that's in a physical storefront, online, or
on the roadside. Anyone who conducts business activity with financial earnings must report
this income to the Internal Revenue Service (IRS).

A company often defines its business by the industry in which it operates. For
example, the real estate business, advertising business, or mattress production business are
examples of industries. Business is a term often used to indicate transactions regarding an
underlying product or service. For example, ExxonMobil conducts its business by providing
oil.

Types of Businesses
There are many ways to organize a business, and there are various legal and tax structures
that correspond with each. Businesses are commonly classified and generally structured as:

● Sole Proprietorship: As the name suggests, a sole proprietorship is owned and

operated by a single person. There is no legal separation between the business and
the owner, which means the tax and legal liabilities of the business are the
responsibility of the owner.
● Partnership: A partnership is a business relationship between two or more people
who together conduct business. Each partner contributes resources and money to
the business and shares in the profits and losses of the business. The shared profits
and losses are recorded on each partner's tax return.
● Corporation: A corporation is a business in which a group of people acts as a single
entity. Owners are commonly referred to as shareholders who exchange
consideration for the corporation's common stock. Incorporating a business releases
owners of the financial liability of business obligations. A corporation comes with
unfavorable taxation rules for the owners of the business.

Business Sizes
Small Businesses
Small owner-operated companies are called small businesses. Commonly managed by one
person or a small group of people with less than 100 employees, these companies include
family restaurants, home-based companies, clothing, books, and publishing companies, and
small manufacturers.9 As of 2021, 33.2 million small businesses in the United States with 61.7
million employees were operating.

The Small Business Administration (SBA) uses the number of employees working at a
company and its annual revenue to formally define a small business. For 229 industry
sectors, from engineering and manufacturing to food service and real estate, the SBA sets
sizing standards every five years.11

Businesses that meet the standards of the SBA can qualify for loans, grants, and "small
business set-asides," contracts where the federal government limits competition to help
small businesses compete for and win federal contracts.12

Mid-Sized Enterprises
There is no definitive specification in the U.S. to define a mid-sized or medium-sized
company. However, when large U.S. cities such as Philadelphia, Baltimore, and Boston
evaluate the landscape of operating businesses, a medium-sized company is defined as one
with 100 to 249 employees or $10 million to less than $1 billion in annual gross sales.1314

Large Businesses
Large businesses commonly have 250 or more employees and garner more than $1 billion in
gross receipts.13 They may issue corporate stock to finance operations as a publicly-
traded company.

Large enterprises may be based in one country with international operations. They are often
organized by departments, such as human resources, finance, marketing, sales, and research
and development.
Unlike small and mid-sized enterprises, owned by a person or group of people, large
organizations often separate their tax burden from their owners, who usually do not
manage their companies but instead, an elected board of directors enacts most business
decisions.

Examples of Well-Known Businesses

Apple
Apple (AAPL) is known for its innovative products, including its personal computers, smart
devices, and music and video streaming services. Founded in 1977 by Steve Jobs and Steve
Wozniak, Apple became the first publicly-traded company whose value hit $1 trillion.15 The
company's stock ended the trading day at about $172 on May 23, 2023. Its market cap was
almost $2.7 billion.

The company employs more than two million people, including 80,000 individuals who work
as direct Apple employees. The remaining jobs include suppliers, manufacturers, and others
who are supported through the Apple store.16 The company reported net sales of $394.33
billion for the 12 months ending Sept. 24, 2022.17

Apple's key to success lies in its family of products and its ability to innovate. The company
focuses on design and quality—two key elements that were a key part of Jobs' corporate
vision. The products that Apple creates and markets can be used under the same operating
system, which allows consumers to sync them together, thus lowering corporate costs.
Apple's ability to create, develop, and market new products and services also put it ahead of
its competition.

Walmart
Walmart (WMT) is one of the world's largest retailers and operates as a multinational
corporation. The company was founded in 1962 by Sam Walton in Arkansas.19 It has more
than 10,500 locations in more than 20 different countries and employs over 2.1 million
people.

The company went public in 1970 and trades on the New York Stock Exchange (NYSE).
Walmart stock traded above $148 with a market cap of $399.79 billion on May 23, 2023. The
company earned $611.3 billion in revenue for the full year of 2022, which is an increase of 6.7%
from the previous fiscal year.

Walmart's success can be attributed to several factors, including its brand name, pricing,
diversification (especially with the addition of its online marketplace), efficient supply chain
management, and its financial strength.

How Do You Start a Business?

There are several steps you need to hurdle to start a business. This includes conducting
market research, developing a business plan, seeking capital or other forms of funding,
choosing a location and business structure, picking the right name, submitting registration
paperwork, obtaining tax documents (employer and taxpayer IDs), and pulling permits and
licenses. It's also a good idea to set up a bank account with a financial institution to facilitate
your everyday banking needs.

How Do You Launch an Online Business?

Starting an online business involves some of the same steps as a traditional business, with a
few exceptions.

You still need to do your market research and develop a business plan before anything else.
Once that's done, choose a name and structure for your business, then file any paperwork to
register your organization.
Rather than finding a physical location, choose a platform and design your website. Before
launching your business, you should find a way to build up your target market, whether
that's through traditional marketing means or more creative ways like social media.

How Do You Come Up With a Business Name?

Your business name should fit the type of organization you plan to run and it should be
catchy—something that people will gravitate toward and remember, not to mention
associate with you as well as the products and services you plan to sell. Originality is key.
And most importantly, it should be a name that isn't already in use by someone else. Go
online and do a business name search to see if it's available or already registered.

How Do You Write a Business Plan?

Business plans are essential to running your business and can help you secure the funding
you need to start your operations. You can choose between a traditional or lean plan.

A traditional business plan has a lot of details, including a summary of the company, how it
plans to succeed, market information, management, products and services, marketing, and
sales projections.

Lean formats are concise with very useful information such as partnership details, outlines
of the business activities and customer relationships, cost structures, and revenue streams.

Templates are available online or you can design your own business plan.

How Do You Get a Business Loan?

Necessary funding for a business often comes via a loan. A traditional lender or a
government-backed loan, such as those offered through the Small Business Administration
are two options. Prospective lenders want to see business details, especially for new start-
ups. Make sure you have your business plan ready, including outlines of costs and revenue
streams, and ensure you have a good credit score. You may need to put down some
collateral to secure the loan if you're approved.

The Bottom Line

Businesses are the backbone of an economy. They provide products and services that
can be purchased by individuals and other companies. Businesses range in size from small to
large and operate in many different industries. Business structures also vary from sole
partnerships to major corporations that provide shareholder equity to their owners. When
starting a business, do your research and develop a business plan. This allows you to raise
the money you need to start your operation.

LESSON 2
What is management?

Management is how businesses organize and direct workflow, operations, and

employees to meet company goals. The primary goal of management is to create
an environment that lets employees work efficiently and productively.

Who is a business manager?

The end goal of every business is to generate profit. The person who has to ensure this
happens to be none other than a business manager.
The business manager is a professional who oversees an organization’s employees and day-
to-day operations. Their primary responsibility is ensuring that all business activities remain
streamlined at all times.

Business Managers ensure this by executing relevant operational strategies, conducting

employee performance reviews, and keeping a tab on everyday activities. They also have to
search for opportunities to grow the business and achieve its objective.

Apart from this, Business managers keep an eye on all ongoing projects to determine any
area of improvement and identify potential roadblocks.

Still, there is a certain set of skills that all business managers need to possess. Let us see
what these are.

Skills every business manager should possess

A business manager has to supervise different teams to help them achieve the desired
business goal.

Therefore, anyone looking to get into one of the many business management jobs should
definitely possess the skills mentioned below;

#1. Communication skills

A business manager has to communicate with project team managers, stakeholders, and
higher management. Business managers have to form a positive and trustable relationship
with the employees, management, and business owners.

They need to remain connected with the organization’s employees and stakeholders
through phone, email & chat. But, for this to happen, they must possess excellent command
over verbal and written communication.

Stat Fact: 71% of employees feel productive when they are well-connected to their colleagues
– The Connected Culture Report

#2. Financial skills

A business manager has to set a budget for a project and ensure it gets completed within
that budget. They have to ensure the project teams work according to the allocated budget.
There are many business management tools that can help them perform this task with ease.

Being able to manage the project budget ensures the team completes it within the deadline
and it is delivered to the client on time.

#3. Leadership skills

A big responsibility on the shoulders of every business manager is boosting the morale of
the workforce in the organization. Motivated employee will always give their best in
comparison to undervalued employees.

Business managers can do this by interacting with every team socially, providing
opportunities for career advancement, and recognizing high-performance team members.

#4. Interpersonal skills

Business managers have to communicate regularly with different departments in an
organization. Sometimes, they have to be the mediator between two departments that
don’t see eye to eye on a project.
It is essential the departments have trust in the business manager. For this, business
managers should organize team-building activities and social events. This helps them know
the employees on a personal level.

#5. Planning skills

Business managers play a vital role in handling day-to-day tasks for a business. However, at
the same time, they also need to focus on the bigger picture.

They need to ensure that every task completed by a team helps bring the organization closer
to its business goal.

A business manager must have a vision of how the decisions made today would impact the
business’s future in the coming years.

#6. Organizational skills

Business managers have to don many different hats at the same time. For this, they have to
effectively organize and prioritize time to ensure every task is completed on time.

A capable business manager must be able to delegate tasks to different team members with
ease. It requires them to know the individual skills of every team member before assigning
tasks.

#7. Problem-solving skills

Business managers have to make decisions that have a huge impact on an organization’s
future. This includes making quick decisions regarding a project or completing a task without
spending too much time on it. They have to think quickly about the pros and cons of a
decision.

For this, business managers need to develop a keen eye regarding what is happening in the
company. This helps them detect any problems and take corrective measures before it is
late.

These are the essential skills that a business manager should have to excel at what they do.
But, there is one more which can help them cover a long journey with the organization.

Business manager vs business administrator

Business Administrator Business Manager

A business Administrator is The business manager focuses more on
Definition responsible for running a business’s overall leadership to help an organization
day-to-day operations. grow.
A motivator, Creative and innovative
Analytical, Strategic planner, detail-
Skills thinker, Ability to see the bigger picture,
oriented, Organized
Able to delegate tasks
Staff accountant, Business analyst,
Career Operations manager, Financial reporting
Marketing specialist, and HR
Options manager, and management analyst
administrator

Still, there are business owners who think that business management is just a single
industry. That is not so.

So, knowing about its various types will help you understand what is business
management especially if you are just starting out as a business manager.
 MODULE 2
MANAGEMENT

Lesson 1
What is Business Management?

Business management is the practice of overseeing and coordinating various activities

within an organization to achieve goals efficiently, including planning, organizing, leading,
and controlling resources and processes.

Types of Business Management

Although, there are many types of business management; given below are some of the
major ones.

1. Financial management
Financial management strives to create a balance between profit and risk to ensure profit
for the business. It requires business managers to plan, direct, and coordinate with
investing, banking, insurance, and other financial aspects of the business. There are three
key elements of financial management – planning, control, and decision-making.

2. HR management
HR (Human Resource) management deals with a business’s hiring, training, and retention of
an employee. It is not the sole responsibility of the HR department to hire, retain and recruit
new employees. The managers of every department are equally responsible for these as it
impacts the future growth of an organization.

3. Operations management
Operations management requires business managers to ensure that all departments of an
organization are functioning efficiently. For this, they have to deal with numerous
departments and formulate the best business strategies and processes. The operations
teams have to ensure proper acquisition, development, and utilization of resources the
business needs.

4. Marketing management
Marketing management takes into consideration the practical application of a business’s
marketing resources. There are four core areas of marketing management – Company,
Collaborator, Customer, and Competitor analysis.

Brand management, Marketing strategy, and pricing are also three core components of
effective marketing management.

5. Strategic management
The success of every business depends on its marketing, financial, and operational
strategies. This is where strategic marketing comes into the picture. Strategic management
refers to the application of strategic thinking to leading an organization.

This type of business management relies on questions like – Where does a business want to
reach and how can it reach there?
To succeed in any type of business management described above, business managers have
to be aware of a few practices.

Lesson 2
Management Function

Functions of Management – Planning, Organising, Staffing, Directing and Controlling

Management is the process of planning, organising, staffing, directing, and controlling the
available resources effectively and efficiently for achieving the goals of the organisation. These
interrelated elements of the management process are called functions of management. Functions of
management are differentiated into two parts managerial function (i.e., planning, organising,
staffing, directing, and controlling ) and operative function (i.e., production, marketing, purchasing,
financing, and personnel). Managerial functions are common to all enterprises because it does not
vary from one organisation to another. For example, planning is common in all organisations.
Whereas operative functions are not common, and they differ from one organisation to another. For
example, production is not performed in a retail store.

Functions of Management
There is no universally accepted list of management functions. Different experts have classified the
functions of management in different ways. Koontz and O’Donnell have given a very convenient
classification of management functions that are generally accepted they are:

● Planning
● Organising
● Staffing
● Directing
● Controlling

Planning

A plan is a future series of actions decided beforehand. it specifies the objective to be

achieved in the future and the steps required to achieve them. Planning is the most essential
function of management. It is concerned with thinking in advance about what to do and who is going
to do it. It is concerned with the certain determination of a future course of action to achieve the
desired result. Planning bridges the gap between the initial point to the destination to reach.
Selection of objectives, policies, and procedures are involved in planning. The essential elements of
planning are decision-making and problem-solving.
For example, in Ram’s organisation, the objective is the production and sale of shoes. He has
to decide quantities, variety, and colour, and then allocate resources for their purchase from
different suppliers. Planning cannot avoid or stop problems, but it can anticipate them and prepare
emergency plans to deal with them if and when they occur.

Organising
 Organising is the management function of allotting duties, grouping various activities,
establishing authority, and allocating resources necessary to attain the specific plan. Once the plans
are formulated, the organising function reviews the activities and resources needed to be applied to
the plan. It resolves the activities and resources needed. Organising decides who will perform a
particular task, and where and when it will be done. It affects the grouping of the necessary tasks
into departments or work units so that they can be managed well. Therefore there is an
organisational hierarchy so that reporting is smooth within the organisation. The efficiency of
operations and the effectiveness of results can be achieved only if there is a proper organisational
technique. The nature and type of organisation structure depend upon the size and nature of the
enterprise.
For example, In Ram’s enterprise of shoes, there are many duties to be performed. So, he
allocates the duties within the organisation forming various groups to attain the plan. He decides
who will perform which task as preparation of accounts, making sales, record keeping, quality
control, and inventory control are the tasks to be performed. There is an organisational hierarchy so
that reporting is easy and there is a smooth flow within the enterprise.

Staffing

Staffing refers to the process of hiring and developing the required personnel to fill in various
positions in the organisation. It is that part of the management process, which is concerned with
recruitment, selection, placement, allocation, conservation, and development of human resources. It
is a very important aspect of management as it ensures that the organisation has the right number
and right kind of people, with the right qualification at the right places, at the right times and that
they are performing the right thing. It is also known as the human resource function.
For example, when Ram is hiring personnel for his enterprise, he will recruit different people
for different tasks. He has to ensure that he is hiring the right people with the right qualification for
the right job. For this process, Ram will need an HR manager who will be performing this task for the
organisation. This will be a very important part of the management function for his organisation, as it
will affect his enterprise in many ways if he selects the wrong people for the job.

Directing

Directing is that component of the management process which ensures that the members of
an organisation work efficiently and effectively for achieving the desired objective. It involves
leading, influencing, instructing, guiding, and inspiring employees to perform and achieve the
predetermined objectives. The two important components of directing are motivation and
leadership. Communicating effectively and clearly with supervising employees at work is also a part
of directing. It involves issuing orders and instructions to subordinates, overseeing people at work,
and creating a work environment wherein the employees may perform to the best of their abilities.
To bring out the best from the employees, a manager needs to direct them through praise and
humbly criticize them.
For example, in Ram’s enterprise, the employees are having some doubts and difficulties. If
the supervisor guides his subordinates and clarifies their doubts in performing a task, it will help the
employees and the workers to perform the activities correctly and on time. When the employees are
motivated and supervised properly, it leads the organisation toward its goal.

Controlling

When the plans are put into operation from directing, it becomes essential to judge regularly
whether the actual results are consistent with the planned results. It monitors the organisational
performance towards the fulfilment of organisational goals. It enables the manager to detect errors
and defects in the course of work and to take corrective actions whenever needed. It also provides
proper direction to work in conformity with the plan of action or predetermined standards.
Controlling serves the purpose of finding out deficiencies in performance and rectifying them so that
the organisation can prevent their recurrence.
For example, Ram expected to sell 1,000 pairs of shoes per week. This is the standard against
which his actual performance will be judged at the end of the week. If his actual performance at the
end of the week falls short of the standard, reasons for the shortfall would be ascertained by his
superior. Corrective actions will be taken to help the workers so that Ram’s enterprise can achieve
the standard performance of 1,000 pairs of shoes in the future by controlling the deficiencies and
rectifying the mistake.
 MODULE 3
BUSINESS MANAGEMENT

Lesson 1 - Business Management Tactics

Given below are 5 of the best business management tactics every business manager should
use to help an organization grow.

1. Engage the workforce

No business has ever reached its goal without active and hardworking team members.
Business managers have to engage with team members from every department.

A motivated and enthusiastic team member is more likely to help the organization achieve
its business goal as opposed to an alienated worker who is more interested in a paycheck.

2. Reward the winners

Some business managers feel that connecting or praising team members on a personal level
undermines their authority, but this is not so.

Nothing can replace the motivation an employee feels after being praised for a job well
done. Rewarding employees who help a business grow has a positive impact on others.

3. Be vulnerable
Many business managers believe that getting to know the employees makes them look
weak, which is absolutely wrong.

Without the ability to be open and share their ideas regarding how a business should go,
some business managers lose the trust of the team. This has a negative impact on the
project’s and company’s future, not to forget it also impacts employee morale.

4. Embrace technology
Business managers need to be quick when it comes to adapting to the latest technology. It
sends a positive message to the customers as well as company employees.

For example, in today’s world, it is vital for every business to not only have a website with
smooth navigation and valuable content. Business managers need to ensure that customers
can connect with them from anywhere and at any time.

In the long run, if a business wants to stay ahead of the competition then managers have to
take up the mantle of adapting to the latest technology in their industry.

5. Have clarity
Many businesses are not able to meet their goals due to a lack of clarity amongst managers
who either don’t understand the organization’s vision or are confused about how to achieve
it.

To counter this issue, organizations should help them understand a few key concepts;

● Why do we exist?
● What do we do?
● What is most important at the moment?
 ● Who must do what?

Answering these questions gives business managers a clear idea about the company’s vision,
mission, and its values.

There are different ways through which a business manager can help an organization grow
and achieve its goal.

Let us now take a look at the different management styles.

Lesson 2
Different business management styles

Whether a business manager leads a department, team, or entire organization, it is

vital to get familiar with the different management styles. Knowing about these is an
important part of understanding what is business management at its core. That said, given
below are 8 business management types a business manager can adapt to.

1. Democratic management style

The democratic management style helps create a bond of trust and mutual understanding
between an organization’s employees and the upper management.

The leaders usually seek input from the employees before making a business decision.
Business managers who follow this management style are open to experimenting with new
ideas.

2. Laissez-faire management style

Business managers who adopt the Laissez Faire management style do not believe
in micromanaging employees.

Employees have complete freedom when working on a given task. It is the best
management style when it comes to managing a team of highly experienced professionals.

3. Autocratic management style

Autocratic business managers believe in focusing on results and efficiency. They
micromanage the workforce to ensure that everyone follows the organization’s policy.

This management style comes in handy when there are inexperienced employees who need
clear and strict instructions regarding a task.

4. Collaborative management style

The collaborative management style requires coordination between managers, supervisors,
and employees to attain a common objective.

In this management style, all the employees from different departments work together to
ensure the organization achieves its business objectives.

5. Coach management style

Business managers who possess the qualities of a sports team coach can adapt to the coach
management style. They have to focus on an employee’s development and know what
motivates every team member.
Coach management style helps managers identify the strengths and weaknesses of every
team member. It helps push an employee to perform beyond their limitations and improve
their chances of growth.

6. Transformational management style

A transformational management style is an approach that business managers use to help an
organization move in the right direction.

A transformational business manager not only supervises the various changes taking place in
an organization. They also help in managing employee morale which might go low during
such times.

7. Bureaucratic management style

The bureaucratic management style requires business managers to assign tasks to
employees within a well-defined hierarchy.

This management style requires a focus on rules and procedures rather than collaboration. It
is quite successful in heavily regulated industries but not so much in creative industries.

8. Transactional management style

Managers following a transactional management style believe in improving employee
performance through bonuses and incentives.

They act as mentors and provide explicit instructions to increase performance and help
employees meet the business’ expectations.

It has become easier for business managers to handle small as well as large teams within an
organization with the help of various Business Management Systems available.

MODULE 4
BUSINESS MANAGEMENT SYSTEM

Lesson 1
What is a business management system?

Whether you own a small online store or multiple ventures, there is a lot you need to do to
handle both. It is here that having a well-defined business management system can help
manage difficult tasks easily.

By definition, a Business Management System refers to a set of tools for planning and
implementing the various policies, guidelines, and procedures of an organization to execute
its business plan.

Having a Business Management system lays down a solid foundation for the successful
implementation of strategic and tactical business decisions to meet its objectives.

“In 2020, 54% of enterprises agreed that cloud-based Business Intelligence was vital to their
current and future initiatives”. – Forbes

One of the best and most exceptional business management systems that are utilized by
leading businesses like Taco Bell and NASA is ProofHub. It helps business managers handle
project tasks, and ensure task deadlines are met by every team in the organization.
How ProofHub can help manage businesses
ProofHub is a cloud-based business management system that helps businesses keep
everything organized in one place.

It is one of the best tools for business managers to streamline daily business operations and
assign tasks effortlessly.

That is not all! Given below is how ProofHub can help manage businesses with ease.

1. Task management
ProofHub lets project and business managers create, manage, and track assigned tasks with
ease. The Kanban boards and Gantt charts help plan and lay down every task in a visually
appealing manner.

It lets you set task deadlines, get instant notifications regarding a task, and check out the
overall project workflow.

2. Project collaboration
ProofHub keeps every project team member on the same page with its effortless
collaboration capabilities.

It also offers Live Chat and Discussions to let project managers connect with team members
round-the-clock.

Notes in ProofHub lets managers jot down vital information in one place and share it with
the team members.

3. Time management
ProofHub timer tool lets managers keep track of the time spent by a team member on a
particular task.

The time logging, monitoring, and reporting feature help increase employee accountability.
The Timesheets in ProofHub help display time logged in by a project team member.

ProofHub comes with many advanced features like Time Tracking to help you keep track of
every task in a project.

4. File management
ProofHub comes with smart file storage, versioning, and sorting capabilities. Its file
management system offers 100 GB of file storage space for all projects.

This business management tool lets managers upload files, and divide them into separate
folders. ProofHub also provides the option of attaching files in team chat and discussions.

5. Progress tracking
The Project Reports feature in ProofHub lets managers know if a project is completed on
time or lagging behind.

It gives them enough time to take the appropriate action before things go out of hand.

ProofHub’s Activity Tracker makes it easier to keep track of any modifications or changes
done to a project file.
Conclusion
To be a business manager requires an entrepreneur to develop many skills apart from being
a business owner. With the right business management system by your side, handling day-
to-day business operations are way easier than imagined.

Electronic References:

https://www.geeksforgeeks.org/functions-of-management-planning-organising-staffing-directing-
and-controlling/#article-meta-div

https://in.linkedin.com/in/sandeepkashyap

https://www.managementstudyhq.com/functions-of-management.html#google_vignette