The document defines key business and organizational terms. It discusses that business refers to activities related to production and distribution of goods and services for profit. An organization is defined as a systematic arrangement of people to accomplish a specific purpose. Organizations have distinct purposes, people, and systematic structures defining roles and behaviors. Organizational levels include operatives, first line managers, middle managers, and top managers. Management involves efficiently and effectively getting work done through people. The main functions of management are planning, organizing, leading, and controlling activities to achieve organizational goals.

2. ORGANIZATION A systematic arrangement of people to accomplish some specific purpose

6. ORGANIZATIONAL LEVELS TOP MANAGERS Middle Managers First Line managers Operatives

12. Management Functions Lead to Planning Organizing Leading controlling Achieving Organization’s Stated purpose