Definition: [ˈbɪznəs ˈmænɪdʒmənt] is a spectrum of means, methods, and ways for supervision of any commercial activity. It sets the purpose to study the most promising path for achieving the set objectives, including by automating the current processes. For the implementation of competent administration, the next items are important:
Correctly formulated aims of strategic actions
Organization of economic activity
Monitoring the planned results
Transfer of authority facilitates the life of the chief and ensures full control over the production
Competence. Strictly defined responsibilities must be assigned to each laborer. Headers are obliged to make sure that the staff consists of qualified specialists in the relevant fields.
Business management In a Sentence:
Business management is a whole science, for the comprehension of which there is not enough a lifetime.
A prospective laborer was sent to business management courses for further training.
Synonyms and related words: commerce supervision, business administration, trade regulation