Household as a Small Business Discussion

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To be effective, managers implement six management functions as they carry out the process of management; the first of these processes is the Planning function. This function requires the manager to set a direction and determine what needs to be accomplished. It means setting priorities and determining performance targets (Longest et al., 2000). As you can see, planning is also something that relates to the household setting. It is often said that a household is actually a small business. Consider this as you respond to the questions below.In your first post, explain:

Do you agree with the statement above? Why or why not?

Discuss two ways in which your household functions like a small business and talk about two challenges that both the household and the business might experience.

In the household setting, how do we use the planning function and how is this function used by the small business owner?

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