Introduction to business and management

*What is business and management?

Making money out of consumer needs by serving them with products and services is termed as business
Any business is profit oriented. certain organisations serve without the aim to earn profit such as NGO's. Their aim is only to provide free service to the people.
 For any organisation making  a product is not sufficient. now here comes the role of a manager.


Management is a process which involves both science and art. Management involves far more than just telling other what to do.

FUNCTIONS

The major functions that a manager completes can be categorised into four parts namely
"P,O,L.C"

• Planning
• Organizing
• Leading
• Controlling

PLANNING:

                Planning in simple terms is a Document. It is the first step. It is the process in which a manager creates a detailed action.  It is upto the manager to recognise which goal needs to be planned.

A manager first creates a blueprint and then shares his ideas to be executed further. 

ORGANIZING:

               Generally it means how to use the resources properly or adequetly to get the best results. It is the second step in managing. It invloves how to distribute the resources and how to manage the employees accordingly to the plan. Managers need to identify different roles and ensure that right person is assigned to right work. it involves allocation of resources.

LEADING:

               The third function of management is leading. An employee follows the direction of the manager, because he has to, but an employee will volounterly follow the direction of a leader, because they believe in who he or she is as a person and for the manner in which they are inspired by the leader.

CONTROLLING:

               It is a final function of management. Once the plan has been carried out the manager evaluates the result against the goals. In normal terms what a business has, that is the resources are to be conrolled efficiently.

Conlusion:

               this is about the difference between management and business and the functions invloved.

by

R. BHAVYA