Business management chapter 1 quizlet

Good management makes a difficult task easier by avoiding wastage of scarce resource.
It improves standard of living.
It increases the profit which is beneficial to business and society will get maximum output at minimum cost by creating employment opportunities which generate income in hands.
The first part of the business plan you should compile would include the introductory materials, such as the statement of purpose and executive summary.

Rating 4.5 (6) the process of planning, organizing, leading, and controlling an organization's financial, physical, human, and information resources to achieve its goals.

What is management theory?

The careful, objective study of management decisions an procedures in order to improve the operation of businesses and organizations

Management theory that studies the way work is organized and the procedures used to complete a job in order to increase worker productivity

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