Final answer:
Planning, option d is an essential function of business management that involves setting goals, determining strategies, and creating a roadmap for the business.
Step-by-step explanation:
The correct answer to the question is d. planning.
Planning is an essential function of business management that involves setting goals, determining the strategies and actions required to achieve those goals, and creating a roadmap for the business to follow. It helps in anticipating and preparing for potential changes and challenges that may arise.
For example, in a marketing context, planning involves developing a marketing strategy, identifying target audiences, selecting appropriate marketing channels, and setting specific objectives to guide the implementation of marketing activities.