4. THE COMBINATION OF INTERNAL AND
EXTERNAL FACTORS THAT INFLUENCE A
COMPANY’S OPERATING SITUATION.
5. External Factors.
Every business has a number of
external factors that either directly or
indirectly affect it. These factors can
range from individuals, government
regulations, environmental concerns, to
other organizations and businesses.
6. Internal Environment Factors:
The forces present within a business
organization define its characteristics.
These include the work culture, the
level of machinery used, the
management process, etc.
7.
8. INPUTS ARE ANY RESOURCES USED TO CREATE
GOODS AND SERVICES.
EXAMPLES OF INPUTS INCLUDE LABOR
(WORKERS’ TIME), FUEL, MATERIALS, BUILDINGS,
AND EQUIPMENT. LABOR INPUT IS THE TIME
PEOPLE SPEND WORKING TO PRODUCE GOODS
AND SERVICES.
12. 1. To meet the user and customer needs.
2. To cut down the operating costs and
increase savings.
3. To smooth the flow data through various
levels of the organization.
4. To speed up the execution of results with the
reliable data available in a system.
5. To provide timely information to the
management
14. THE SYSTEM INCLUDES GUIDELINES
AND PROCESSES FOR DEVELOPING
BUSINESS MANAGEMENT PLANS.
15. Business Management System is a
multilevel hierarchy of business solutions
that represent how a profit-oriented
organization will carry out different
functions (like Sales, Purchasing,
Marketing, Staffing) to accomplish a task
and achieve a goal successfully
20. Business management is how a
business manages itself and its
operations to achieve its goals.
For example, business management
includes the management of inventory,
production of goods, planning business
activities, managing human resources, and
so on.
22. Henry Fayol, the father of principles
of management, has classified
managerial functions as follows:
(a) Planning, (b) Organizing, (c)
staffing, (d) Directing, and (e)
Controlling.
