The very first essential for the success of any business is the determination of exactly what will be done by the business, that is to say what services are to be rendered and what good and to be produced. To attain the objectives and implement plans, the firm must be staffed adequately an properly. Objectives may be most clearly defined; plans may be based on research; the organization may be sound; bu unless adequate finances-both for long and short-term requirements can be secured, the business cannot succeed. Finance is the life blood of the organization insufficiency of which may lead to losses an embarrassment. The question of proper location and lay-out of plant and other facilities is crucial to the success of an industrial business, because any mistake in this regard can bot be easily corrected later.A business enterprise cannot succeed in the performance of its tasks an the realization of its objectives unless it is efficiently manged; management means the guidance, direction, control and co-ordination of the efforts of a group.After physical, financial an organizational planning, the entrepreneur can go ahead with the actual launching of the enterprise.
So without above objective and requirement business cannot run properly.
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