Need management homework help: Principles of Management - select two management skills that you believe are important for a manager to practice

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avan41

Business Finance

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Select two management skills that you believe are important for a manager to practice and explain why you selected these two.

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Explanation & Answer

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Understanding business financials skills

The primary objective of any business is to make a profit. Good financial management is essential to ensure your goal is achieved. The first step involves understanding your financial statements which is crucial to running a successful business.

Communication and negotiation skills

Business is all about people regardless of your industry or the product or service you’re offering. On a daily basis you will encounter a range of people including customers, suppliers, employees and business associates. Developing your communication and negotiation skills will be invaluable in a range of situations from negotiating a supplier contract to dealing with a difficult customer.


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