Book: An Integrated Approach to Business Studies, 4th Edition
Author: Bruce R Jewell
Management is a process of attaining organisational goals in a efficient and effective manner by planning, organising, leading and controlling organisational resources. This book seeks to clarify that everyone is a manager regardless of the specified job or function being undertaken. Therefore the book divided the organisation into its main functions typical of every firm, that is, business organisation, external environment, marketing, accounting and finance, production operations, people in the organisation and strategy.
Business Organisations
Organisations can either be under the private or public sector. Private sector involves firms which are individually or privately owned such as sole proprietor, partnerships or companies. The Public sector involves state owned firms and activities that is central and local government control industries like hospitals, post offices, transport and water. They provide services rather than profit making as they ensure to bridge the gap between the poor and rich thus financed through taxation. Shareholders belong to both public and private companies; hence they enjoy limited liability to the business they have invested in.
Management can be defined as the art of getting things done by people. D. Torrrington and J. Weightman in Effective Management 1994 put forward the mnemonic GROUP to reinforce the idea that
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