Description

A Business Organization is formed to engage in buying and selling activities under legal frameworks governing contracts, property rights, and incorporation. It manages and plans various activities, coordinating resources like manpower, materials, finances, and machinery to produce goods and services efficiently. Legal status affects how businesses operate, with governments offering incentives and regulations to support different types of organizations. Business management involves coordinating and administering activities, tasks, and resources to achieve objectives. This includes supervising staff, overseeing operations, and planning infrastructure for future optimization. Managers and directors hold responsibility and authority to make decisions, whether within a small entity or across multinational corporations.