Explain the importance of management in the Using a fictitious business, you will demonstrate how to develop a business and incorporate management principles. Simply put, you will develop a business and show how you would run it. It should include a management structure and employee structure. These principles include: a mission statement, vision statement, company organization, planning (strategic or otherwise), coordinating and controlling. You should have at least one page for a graph or other visual work that paints a picture of your business, it can be your management tier from top to bottom or you could post something on your project earnings or costs if you want. The business should consist of at least 8 employees of varying positions but can contain more. This project is designed to allow you to demonstrate management principles within a business