Business Management

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Business Management

INTRODUCTION

        People are often found busy because they are engaged in number of activities.When these activities are motivated towards making profit or gain, they are called business activities.Thus business means engaging in business activities. Businesses include all those activities that are concerned with production & purchase of goods and services. The object of the activities is to make profit.

Management plays a pivotal role in the operation of business enterprises. A business is composed of seven elements, viz... Men, materials, methods, markets, management. Of these seven Ms,’Management stands at the apex of the enterprises pyramid and it determines and controls all other factors of business operations.

Meaning

       Management is a general term. It refers to the origin and directing of human activities for attaining a definite objective. It is a process though which all the resources are organized and utilized to attain maximum efficiency. In the words of DR.JAMES LUNDY, “it is principally a task of planning, co-ordinating, motivating and controlling the efforts of others towards the specific objectives.