LO 6–4 Analyze what it takes to start and run a small business.
To establish a successful business requires good management that operates effectively in the
following functions that exist in a small business:
- Planning
- Finance
- Marketing
- Human Resource Development (HRD)
- Accounting
Finance and planning are the two most vital functions when starting a business
LO 6–5 Outline the advantages and disadvantages small businesses have in entering
global markets.