BUSINESS

EVERYTHING IS BUSINESS IN THIS WORLD.

Business is a regular process of producing or purchasing and selling of goods with the object of earning profit and acquiring wealth through the satisfaction of human wants. Thus when more are engaged in production or distribution of goods and services on a regular basis.

Management

Management is the process of designing and maintaining of an environment in which individuals working togethier in groups, efficiently accomplish selected aims.
        -Koontz and Weihrich


Management is the art of knowing what do you want to do and then seeing tha it is done in the best and cheapest way.
        -F.W.Taylor 

Management Principles

The principles of management have a tremendous impact upon the practice of management in increasing the efficeincy of the organisation. The need and importance of management principles can be visualized as

1. To increase Efficiency
2. To crystallize the nature of management
3. To carry on researches
4. To attain social objectives 
   

Major functional areas of business

1. Production Management
2. Personnel Management
3. Marketing Management
4. Financial Management

Management Process

1. Planning
   
2. Organizing
3. staffing
4. directing 
5. controlling