Business management refers to the activities related to running a company namely planning, organizing, controlling, staffing and leading. An assignment on this topic needs to cover all the business activities and their relation to each other. Planning all business activities is the primary task to ensure right decisions and it needs to be done continuously and systematically. The planning process involves the setting up organizational goals, defining strategies to meet them and allocating resources to attain the goals.
Organizing involves bringing together all the available human, material and financial resources to achieve the goals set for the organization. This involves delegation and decentralization of authority. The controlling function fulfills the purposes of helping in planning and facilitating coordination. It involves comparison of actual performance against plans to identify reasons for deviation and take corrective action to ensure progress of the organization. Staffing function pertains to Continue reading