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Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a ...
The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration with a significant focus on management. [11] The MBA degree originated in the United States in the early-20th century, [ 12 ] when the nation industrialized and companies sought scientific approaches to management.
[1] [2] Written business plans are often required to obtain a bank loan or other kind of financing. Templates [3] and guides, such as the ones offered in the United States by the Small Business Administration [4] can be used to facilitate producing a business plan.
Many years later the major/minor of human resource management was created at universities and colleges also known as business administration. It consists of all the activities that companies used to ensure the more effective use of employees. [15] Now, human resources focus on the people side of management. [15]
The Oxford English Dictionary defines a business manager as "a person who manages the business affairs of an individual, institution, organization, or company". [1] Compare manager. Business managers drive the work of others (if any) in order to operate efficiently and (in the case of for-profit companies) to make a profit. [2]
Commercial management is "the identification and development of business opportunities and the profitable management of projects and contracts, from inception to completion". [ 1 ] Commerce refer to the actions that involve the exchange of goods, services, or value between an entity and its customers, suppliers, or partners. [ 2 ]
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At the graduate level students aiming at careers as managers or executives may choose to specialize in major subareas of management or business administration such as entrepreneurship, human resources, international business, organizational behavior, organizational theory, strategic management, [29] accounting, corporate finance, entertainment ...