Nature of work[ edit ] In profitable organizations, management's primary function is the satisfaction of a range of stakeholders. Main article: List of business entities Forms of business ownership vary by jurisdictionbut several common entities exist: Sole proprietorship: A sole proprietorshipalso known as a sole trader, is owned by one person and operates for their benefit.
Partner Network: In order to optimize operations and reduce risks of a business model, organizations usually cultivate buyer-supplier relationships so they can focus on their core activity.
Further, strategic planning functions remote from the "front lines" or contact with the competitive environment i. Channels: A company can deliver its value proposition to its targeted customers through different channels.
The first comprehensive theories of management appeared around In: MIS Quarterly, vol. In a company limited by guarantee, this will be the guarantors. Finances Cost Structure: This describes the most important monetary consequences while operating under different business models.
There is social responsibility coordination body established and functioning within the organization structure of the Bank, which is responsible for involving all other organization parts of the Bank in the planning and realization of the activities related to social responsibility.
The flowchart to the right provides a process for classifying a phenomenon as a scenario in the intuitive logics tradition. Duncan wrote the first college management- textbook in In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business.