Business Management

Marketing S.S.S 3 Second Term

WEEK 3

Business Management

Performance Objectives

Students should be able to explain:

1. Meaning of business management

2. Business resources

i.  Man

ii. Money

iii. Materials

iv. Machines

v.  Opportunities

3. Business Objectives

 

Meaning of Business Management

Business management is the act of organizing people to accomplish the desired goals and objectives of a business. It comprises organizing, planning, leading, staffing or controlling and directing a business effort for the purpose of accomplishing the entity's listed goals.

Business Resources

Business resources, also known as factors of production, consisting of land and labour, along with capital and enterprise. Land means natural resources, which provide the raw materials for components, machinery, buildings and transport mechanisms. Labour…