ABSTRACT
This chapter demonstrates that the poor management skills, particularly in the areas of business acumen considerably undermines the quality and viability of an Early Childhood Education and Care (ECEC) setting. A conceptual and structural dichotomy exists between community and private provision that is driven by social, economic and cultural policies, as well as public perceptions. The chapter describes that the limited business knowledge, and/or knowledge of the business environment may impinge upon competitiveness and viability. Small business management is different in several respects to management of large enterprises. This is due to the social structures and relationships within small businesses and because of the level of resources, which are usually limited, that are available. Business acumen, also referred to as business savvy, and business sense, is defined as 'keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome'.
