Monday, June 15, 2009

What is business management

If you go to any business school and read the books of management , you can collect different manager's views regarding business management . But no body could not business management in very simple and consistent way . In very simple words , Business management means decisions which are taken for operating any type of business . Business management concept relates very closely to family management . In a family , parents have taken decisions how to expand monthly in different domestic expenses , how to maintain house , kitchen garden and system of children's education . After this every things look on their relevant place and expense never beyond the family earning . Like this in business , large number of planning are done relating to purchasing of goods and fixed assets and deal with customers . Businessman also takes decisions regarding appointment of employees for division of work .
A great management theorist Henri Fayol said that management is planning , organisation , staffing , coordination and control . He had made 14 management's principles which still now included in the syllabus of master of Business administration (MBA ) . Business management is common subject in every field of MBA specialisation because , manager should know different techniques of planning , direction , co-ordination and control for proper management any business . So , it is very important for business .

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