What is Business Management

The video tutorial explains the components and characteristics of effective business management. It highlights the importance of organizational goals and the processes involved in achieving them. Key characteristics such as universality, goal orientation, continuity, multidimensionality, group-based dynamics, and intangibility are discussed, emphasizing the need for adaptability and strategic goal setting in business management.

What does it mean for business management to be a continuous and dynamic process?

Discuss the significance of group dynamics in the definition of an organization.