E-commerce, short for electronic commerce, refers to the buying and selling of goods and services through electronic means, typically over the internet. It involves conducting transactions using computer networks, such as online marketplaces, social...
Small businesses are typically defined as privately owned companies or enterprises that have relatively low revenue and a limited number of employees. The exact definition of a small business can vary depending on the...
Planning in business management refers to the process of establishing goals and objectives, determining the resources required to achieve them, and developing strategies and action plans to attain them. It involves a systematic approach...
Economic integration refers to the process of eliminating trade barriers and integrating economic policies between countries. It involves the creation of a single economic market where goods, services, and capital can move freely between...
Globalization refers to the increasing interconnectedness and interdependence of economies, societies, and cultures on a global scale. It is the process by which goods, services, capital, people, and ideas move more freely around the...
Organizing is one of the primary functions of business management, which involves arranging resources in a way that helps achieve the organization’s goals effectively and efficiently. Organizing involves the process of defining responsibilities, delegating...
Controlling in business management refers to the process of monitoring and evaluating organizational performance to ensure that it is in line with the predetermined objectives and standards. The controlling function involves comparing actual performance...
In business management, directing refers to the process of guiding and supervising employees to achieve organizational goals. It involves providing instructions, motivation, and communication to employees to ensure that they understand what is expected...