How is management applied/required for the various sector of any business plan?

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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This is an important question. It might be good to start off with a general definition of the goal of management. Business management exists to enable people to work optimally for the benefit of the company. Just from this definition alone, we can see the sheer importance of management in any business or business proposal. 

With this stated, there are many sectors in business. Therefore, different styles of management are necessary to meet the various sectors. In addition, when we consider the various types of personalities of employees and the culture of the company things get more complex. In light of this, any business plan needs to match the right management style to any given context. So, for example, a company might need a more democratic manager to work optimally. Or a company might need a more consulting type of leader, or at times a more autocratic manager might be needed. 

In addition, ancillary expertise might be necessary as well. For example, if the company focuses on medical equipment, then a manager with an M.D. might be important. 


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