Notes On Concepts Of Business Studies:

             A business enterprise is comprised of men and materials that need to be collected and coordinated towards the achievement of desired business goal. The materials are generally scarce in nature and as such needs to be utilized to the optimum with minimum wastage to the extent possible. And the human resources have to be properly selected and then minutely trained, motivated, and appropriate responsibilities should be delegated for achievement of their greatest work performance.

             The whole concept of business, to crystallize it, needs managers and the workers to be clearly defined about their authority and responsibility. The determination of relationship between men and materials is the most important and basic function of management. It includes division of work, coordination of people and optimum utilization of resources at its disposal. It can therefore be concluded that organization is essentially a function of management in a nut shell, it can be concluded that organization is the foundation on which the whole structure of management is built.