This document discusses business and government organizations and management. It defines business as economic activity involving goods and services exchanged for money, and defines government as the entity that exercises political authority through institutions. It also defines organizations as groups of people coordinating actions to achieve goals. Both formal and informal organizations are described. Management is outlined as the process of coordinating resources to achieve objectives. The relationship between government and business is described as interdependent, with each influencing the other to create a balanced environment for economic stability and growth.
2. Business – the activity of making, buying, or selling,
goods or providing services in exchange for money.
Government - the organization, machinery, or
agency through which a political unit exercises
authority and performs functions and which is
usually classified according to the distribution of
power within it.
3. Organization- is a collection of people who
work together and coordinate their actions to
achieve a wide variety of goals.
Nature of Organization
Formal Organization is formed when two or more
persons come together. They have a common objective
or goal. They are willing to work together to achieve
this similar objective.
4. Informal Organization exists within the formal
organization. An informal organization is a network
of personal and social relationships. People
working in a formal organization meet and interact
regularly. They work, travel, and eat together.
Therefore, they become good friends and
companions. There are many groups of friends in a
formal organization. These groups are called
informal organization.
5.
6. Management – act of getting people together to
accomplish desired goals and objectives using
available resources efficiently and effectively.
Management comprises planning, organizing,
staffing, leading or directing, and controlling an
organization (a group of one or more people or
entities) or effort for the purpose of
accomplishing a goal.
7. Relationship between Government and
Business Organizations
Government and business institutions in a country in many ways are interrelated
and interdependent on each other. In today’s global economy, its businessmen and
entrepreneurs are the driving forces of the economy. In planned economy or even
in market economy government holds control of shaping the business activates of a
country. For maintaining a steady and upward economic growth The Government
must try to make the environment for business organizations suitable. And the
organizations must follow the laws of governments’ to run the businesses smoothly
and making sure there is a level playing field. The main goal of businesses is to
make profit and governments’ goal is to ensure economic stability and growth.
Both of them are different but very co-dependent. For this the government and
organizations or businesses always tries to influence and persuade each other in
many ways for various matters. A balanced relationship between the government
and businesses is required for the welfare of the economy and the nation.
