Personal Narrative: What I Learned In Business

In business, I learned that it isn’t as easy as I thought it would be to manage your own company. Businesses are very hard to make because a lot of money is included to start the business and management is a must. Owning your businesses means you would have to take care of many things including: employment, paying bills, making decisions and becoming a leader. Managing a business effectively and managing staff effectively is the key to the establishment and growth of the business. The key to successful management is to examine the marketplace environment and create employment and profit opportunities that deliver the potential growth and financial capability of the business. An entrepreneur is a person who organizes and manages any enterprise, usually with considerable initiative and risk. The things I learned can definitely be used in my everyday life because it’s a way of surviving. Learning about business helped me get a better understanding of how I would run my own company someday.

I would like to own my own pharmacy or boutique someday and probably with my mom as a business partner. A business cannot survive without management because management is its means of support. In this management conscious age, the significance of management can hardly be over emphasized. It is said that anything minus management totals to nothing. There is no more important area of human activity than management since its task is that of getting things completed through others. Basically if you want to own your own business, you would have to acquire some leadership skills. A business enterprise operates in a constantly changing environment. Changes in the business environment create risk and also provide opportunities for growth. A favorable and encouraging environment is essential for any business and sound management makes it possible