Business management is the study of decision-making within an organization. Specifically, how businesses are organized and operated on the market in order to create value for the customers and profit for the owners.
The role of businesses in the society is organizing resources produce and sell products (goods and services) that meet human needs and wants.
A range of business organizations from all sectors of the economy and the socio-cultural contexts use strategic decision-making to operate Human Resources (HR), Finance, Marketing and Production. These are main departments where individuals and groups of employees interact within an organization.
These business functions must be successfully run by managers who use various management theories, techniques and tools to optimize the use of resources in a world increasingly concerned with scarcity and sustainability.
Each and every business decision, which is uncertain in nature, is influenced by internal and external factors requiring managers to predict how it impact upon stakeholders and the firm’s competitiveness.
Ultimately, profit-making for the business owners, risk-taking and operating in a competitive environment characterize most operations in modern businesses.
In short, studying business functions, management processes and decision-making can help business managers to run businesses successfully – increase sales revenue and profit to maximize returns to shareholders.
Gaining business knowledge and skills as well as understanding processes that rule the contemporary world can give us internal abilities to manage our life more efficiently, lift standards and become better human beings.
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❝ The Super Business Manager website is all about business. It provides business resources for better decision making. These business resources are especially useful for CEOs, directors and managers, business owners, investors, entrepreneurs, asset managers, politicians and government advisors, business teachers, business journalists and business students.
With this online project, I aim to make business education accessible to everyone in the world in order to improve business knowledge and managerial skills. Having business acumen means more money, wealth and power; better-managed businesses, better-managed human life and ultimately better-managed world.
You will find here not only high-quality articles on business management, but also posts on business education, business journalism, personal finance and life management. Welcome! ❞
Jerry Grzegorzek, Editor-in-Chief
BA (Hons), MA, PGCert, PGDip
