1. Concept, Nature, and Objectives of Management

Management is the process of planning, organizing, staffing, directing, and controlling an organization's resources to achieve its goals efficiently and effectively. The concept and nature of management involve coordinating human and non-human resources. Key objectives include profit maximization, customer satisfaction, innovation, market leadership, and social responsibility, guiding the actions of an organization.

2. Principles and Techniques of Management

Classical management thinkers like Henri Fayol proposed principles such as division of work, authority, discipline, unity of command, and unity of direction. Scientific management by F.W. Taylor focused on improving efficiency through scientific study of work methods. Modern management also incorporates techniques like Total Quality Management (TQM) and strategic planning, aimed at optimizing organizational performance and achieving objectives.

3. Business Environment

The business environment encompasses all the internal and external factors that influence a business's operations and performance. This includes economic, social, political, technological, and legal factors. Understanding the business environment is crucial for strategic decision-making, identifying opportunities, and mitigating threats, enabling businesses to adapt and thrive in a dynamic market.