Definition of Business
A business is the total activity in the production and distribution of goods and services for profit maximization or shareholder wealth maximization.For every successful business,there must be a team of expert and dedicated managers.This takes us to what management means....
What Is Management??
Management is the process of working with and through others to achieve organisational objectives in an ever changing environment.Management denotes both function and the people who discharge it.Management is the specific organ of all modern institutions,the business as a going concern dpends on the management team for its performance and survival.The foundation of management starts with the knowledge of organisations.
An organisation is a consciously co-ordinated system of activities by a group of people,with objectives to aim at and hope to attain.Management is therefore concerned with the aim of determining the objectives of an organisation and then guiding the employees and other resources of that organisation towards the achievements of those laid down objectives.
Definitions of Management
some of the definitions of some management guru's accepted in the world of management include:
1. The art of getting things done through people (may parker follet)
2. management is force that,through decision making based on knowledge and understanding,inter-relates and integrates,via appropriate linking process,all the elements of organisational system in a manager designed to achieve the organisational objectives (Earl f lundgen)
3.The specific purpose and mission of an institution,whether business enterprise,hospital or university:
making work productive and the worker achieving:
managing social impacts and social responsibilities''.
(Peter F. Drucker)
Management is required in all aspects of life,whether as a kid managing your allowance or as a business executive,managing the various aspects of your business.
