The Concept and Definition of Business Organisation and Management (BOM)
Business organization is a term used in the business environment to refer to the process of establishing effective cooperation between factors of production and acquiring of wealth with the view of earning profit from the business enterprise. Business organization is also defined as the art of building up organizations involved in business activities using materials, money, machines, and time to effectively achieve business objectives such as maximizing profit, as well as market share. I this chapter the different forms of business organizations will be covered together with the techniques used by business people to manage business operations. Examples of forms of business organizations include; sole proprietorship, partnership, company, and cooperative societies.
Business organization is a term used in the business environment to refer to the process of establishing effective cooperation between factors of production and acquiring of wealth with the view of earning profit from the business enterprise. Business organization is also defined as the art of building up organizations involved in business activities using materials, money, machines, and time to effectively achieve business objectives such as maximizing profit, as well as market share. I this chapter the different forms of business organizations will be covered together with the techniques used by business people to manage business operations. Examples of forms of business organizations include; sole proprietorship, partnership, company, and cooperative societies.