Management Defination

Management comprises directing and controlling a group of one or more people or entities for the purpose of coordinating and harmonizing them towards accomplishing a goal. Management often encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management can also refer to the person or people who perform the act(s) of management.

Types of Business Organisation

The economy can be divided into two sectors:
  • The Private Sector
  • The Public Sector
The Private Sector
  • Private individuals and firms that are owned by private individuals
  • Firms in the private sector include:
  • Sole Traders
  • Private Limited Companies (Ltd)
  • Partnerships
  • Public Limited Companies (PLC)
The Public Sector
  • Made up of central government, 
  • local government, and businesses 
  • that are owned by government
  • In the last twenty years the number 
  • of government-owned firms in the UK has shrunk massively
  • Now, very few examples remain: 
  • for instance, the Royal Mail
Private Sector Firms
  • One of the key differences is between:
  • Sole traders and partnerships 
  • whose liability is unlimited and Private Limited and Public Limited Companies, who have ‘limited liability’.
Other Business Types
  • Co-operatives are owned by their staff, who are ‘members’ of the firm
  • Profits are shared 
  • amongst the members
  • Losses too must be shared
  • Many businesses today 
  • are franchises
  • A business idea is licensed 
  • to a franchisee
  • The owners of the brand receive 
  • a license fee
  • The franchisee gains the right 
  • to use the business brand
Not For Profit Businesses
  • Many charity-based business organisations are run as ‘not for profit’ operations
  • They typically receive donations 
  • or funds from groups or government
  • Any financial surplus is ploughed back into the business
  • The organisation does not aim to generate profits


  1. Excellent post! Like this...Thanks for sharing!

  2. It is very glorious work compiling the information and very useful tips given by u for the readers
    Establishing Business Value

  3. We must also know what's the meaning of management so that we can truly handle our business, important part of managing a business is a commitment. Thanks for posting this. It can help a lot.

    Benchmarking Process Improvement

  4. Wow !! This is great information for me. I was searching such long time this types of information. Thanks for posting for us. To get more information about On Line Business please visit
    Meditation uk

  5. I’m so glad I found this site…Keep up the good work I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say GREAT blog. In your next post, provide the business school in india, so that students come to know about the colleges. Thank for the sharing.

  6. Nice Website...
    Hey JOIN now fblikesbot.com and Increase Facebook Likes your profile and websites.
    Increase Facebook Likes and check your website worth worth my websites
    its may be very beneficial for you also really