Meaning of business and management. - SS2 Commerce Past Questions and Answers - page 1

Generating profit

Non-profit orientation

Setting organizational goals

Organizing

Profitability

Business refers to the activities involved in producing, distributing, and exchanging goods or services for the purpose of making a profit.

The key functions of management are planning, organizing, leading, and controlling. Planning involves setting goals and deciding on the best course of action. Organizing involves arranging resources and coordinating activities. Leading involves guiding and motivating employees. Controlling involves monitoring performance and ensuring that goals are achieved.