Planning is a crucial component of business management, because of planning depends all further activities of the organization. So managers and executives must plan every aspect of their business, including marketing, budgeting, hiring, strategic positioning and making the business as profitable as possible. Management teams should meet frequently to discuss long-term goals and short-term plans to move toward those goals.
Leadership can be defined as based on the authority and rank priority ongoing impact of one person or a few individuals to the whole group or organization.
