Importance of Small Business Management
1. Communication Skills: This covers the fundamentals of oral and verbal communication competencies, which are crucial in business operations.
2. Organizational Behavior: It involves understanding employer-employee relations and basic psychology as applied in a business setting.
3. Finance Management: This subject focuses on the fundamentals of money, banking, cash handling, and monetary policies.
4. Economics: It includes the basics of resource mobilization, allocation, and utilization, essential for understanding market dynamics.
5. HR Management: This covers basic recruitment, training, and personnel movement within a business organization.
6. Business Communication: It includes principles and practices of letter writing, documentation, and procedures.
7. Computer Application: This ensures literacy in basic business computer languages and protocols, which are vital in today’s digital age..
8. Business Law and Ethics: It involves the study of obligations, contracts, and pertinent forms of commercial laws, ensuring legal compliance and ethical practices.
9. Taxation: This covers the study of income and tax determination, tax schedules, and guidelines, crucial for financial management.