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.

1. BUSINESS Literary means the state of being busy All those activities which are related to the production and distribution of the goods and services with the objective of earning profit

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

3. CHARACTERISTICS OF ORGANIZATION Distinct purpose(Goals) People Systematic structure defining limits and behavior of its members Distinct Purpose People Systematic structure

4. ORGANIZATIONAL LEVELS Operatives: People who work directly on a job or task and have no responsibility for overseeing work of others Managers:Individuals in an organization who direct the activities of others First line managers:Supervisors,the lowest level of management

5. ORGANIZATIONAL LEVELS Middle managers:All levels of management between supervisory and top managers Top managers:Managers who are responsible for making decisions and setting the policies that affect all aspects of organization

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

7. MANAGEMENT The process of getting activities completed efficiently and effectively with and through people OR Getting the work done by people in effective and efficient manner

8. Efficiency Relationship between inputs and outputs Inputs are: money,material,people etc Efficient use of resources Minimizing resource cost Less inputs more out= more efficient Low wastage

9. Effectiveness Getting activities completed Goal attainment It is concerned with the ends

10. Management Functions Planning:Includes defining goals,establishing strategies and developing sub-plans to coordinate activities Organizing:Determining what tasks are to be done,who is to do them,how it will be done

11. Management Functions Leading:Includes motivating subordinates,directing others and resolving conflicts Controlling: Monitoring activities to ensure that they are accomplished as planned and taking corrective actions

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