Definition of Business Management
Business Management is defined as the process of getting people together for attaining desired goals for a business by utilizing available resources efficiently and in an effective manner. The process of Business Management consists of aspects such as Planning, Organizing, Staffing, Leading and finally controlling a business organization. All these tasks are carried out in order to accomplish the goal of the business.
There are three categories of firms that carry out business in some form or the other. They are Company, Government and Organization. All these firms are quite different from each other in their set-up, but they carry out certain business functions for their self-development and also to serve all their stakeholders such as customers and employees.
Textbooks on Business Management
Business Management is a huge area of research as well as practical application for marketers. They surely need to refer to relevant textbooks on Business Management and some of their details have been listed below:
- Qualitative Research in Business & Management by Michael D Myers (Published by SAGE – Year 2008).
- Business Management by James Burrow and Brad Kleindl (Published by Cengage Learning – Year 2012).
Examples of Business Management
Example 1: An interesting example of Business Management can be its application in Business Process Modeling alias BPM. This is an activity of representing an enterprise’s processes in order to analyze the current process. Further, this process may also be improved in the future.
Example 2: Another interesting example of Business Management can be its application in Business Analysis. This is a concept consisting of various tasks, knowledge, and techniques that are required to recognize business needs and even determine appropriate solutions to business related problems. These solutions can consist of a systems development based component, but they may even consist of process improvement or even organizational change.
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