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respond to your peer. 1 . Organizational Management: This is crucial for a small business to run smoothly and effectively. It involves managing the
respond to your peer. Organizational Management: This is crucial for a small business to run smoothly and effectively. It involves managing the workforce, dealing with customer complaints, handling supply chain issues, setting hours of operation, and focusing on customer acquisition and retention. If organizational management is not prioritized, the business may struggle to handle challenges and operate efficiently.
FinanceAccounting: This is another critical aspect of running a small business. Businesses need to have their finances to survive and eventually make a profit. This involves making sound financial decisions and ensuring accurate accounting. If the accounting is inaccurate, the financial aspect of the business cannot be precise and clear.
The answer also explains how these issues affect marketing objectives and strategy. If a business owner is preoccupied with managing the organization and finances, they may not have enough time to focus on their marketing strategy. This can hinder the growth of the business. Furthermore, without clear financial goals and sufficient capital, the business may struggle to execute a strong marketing strategy."
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