Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
P. 1
part1 amway

part1 amway

Ratings: (0)|Views: 87|Likes:
Published by Swapnil Sonawane

More info:

Categories:Types, Business/Law
Published by: Swapnil Sonawane on Sep 20, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

02/13/2014

pdf

text

original

 
AAA1
E
 
 XCEL BUSINESS ACADEMY (Indias Premium Techno Management B-School)
The Meaning of Business:
 
Great quote on Worthwhile by Mark Kaiser on the meaning of business:"The simplest definition of business is you solve a customer's problem and createsustainable profits over time. Anyone with vision should understand the problem they'resolving. The problem with business today is that people think the meaning is about building amonument to you. The meaning of business is having an impact on people's lives."My definition is close:A business' purpose is to attract and keep customers. It¶s one basic function is to reliablysolve customer problems...A
business
is a legally recognized organization designed to provide goods or services,or both, to consumers, businesses and governmental entities. Businesses are predominant incapitalist economies. Most businesses are privately owned. A business is typically formed toearn profit that will increase the wealth of its owners and grow the business itself. Theowners and operators of a business have as one of their main objectives the receipt or generation of financial returns in exchange for work and acceptance of risk. Notableexceptions include cooperative enterprises and state-owned enterprises. Businesses can also be formed not-for-profit or be state-owned.The etymology of "business" relates to the state of being busy either as an individualor society as a whole, doing commercially viable and profitable work. The term "business"has at least three usages, depending on the scope ² the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular marketsector, such as "the music business" and compound forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services.However, the exact definition of business, like much else in the philosophy of business, is amatter of debate and complexity of meanings.
 
AAA2
E
 
 XCEL BUSINESS ACADEMY (Indias Premium Techno Management B-School)
Meaning Of Management:
Management is generally defined as the art and science of getting things done throughothers. This definition emphasizes that a manager plans and guides the work of other people.Some (cynical) individuals think that this means managers don¶t have any work to dothemselves. As managers have an awful lot of work to do. Management is the art and scienceof getting things done through others, generally by organizing and directing their activities onthe job. A manager is therefore someone who defines, plans, guides, assists, and assesses thework of others, usually people for whom the manager is responsible in an organization. 
Management Define:
³The efficient and effective operation of a business, and study of this subject, is calledmanagement´.The main branches of management are financial management, marketingmanagement, human resource management, strategic management, production management,operation management, service management and information technology management.1. The group of individuals who make decisions about how a business is run.2. The initiation and maintenance of an investment portfolio.
Management
in all business areas and organizational activities are the acts of getting people together to accomplish desired goals and objectives efficiently and effectively.Management comprises planning, organizing, staffing, leading or directing, and controllingan organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of humanresources, financial resources, technological resources, and natural resources.
 
AAA3
E
 
 XCEL BUSINESS ACADEMY (Indias Premium Techno Management B-School)
Because organizations can be viewed as systems, management can also be defined ashuman action, including design, to facilitate the production of useful outcomes from asystem. This view opens the opportunity to 'manage' oneself, a pre-requisite to attempting tomanage othersManagement can also refer to the person or people who perform the act(s) of management.
 Basic functions of management:
y
 
Pl
anning
: Deciding what needs to happen in the future (today, next week, nextmonth, next year, over the next 5 years, etc.) and generating plans for action.
y
 
Organizing
: (Implementation) making optimum use of the resources required toenable the successful carrying out of plans.
y
 
S
taffing
: Job analyzing, recruitment, and hiring individuals for appropriate jobs.
y
 
L
eading/Directing
: Determining what needs to be done in a situation and getting people to do it.
y
 
C
ontro
ll
ing/Monitoring
: Checking progress against plans.
y
 
Motivation
: Motivation is also a kind of basic function of management, becausewithout motivation, employees cannot work effectively. If motivation doesn't takes place in an organization, then employees may not contribute to the other functions(which are usually set by top level management).

Activity (5)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
Surabhi Rai added this note
good
Elenuta Ciobanu liked this
Onkar Sawant liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->