Business Administration - An Introduction for Managers and Business Professionals

The progress of several businesses was severely challenged through the advent of the COVID-19 pandemic with several businesses collapsing globally. Apart from the pandemic, the business posture and dynamics of yesteryear has significantly changed as the way business is conducted today, especially in this era of industry 4.0 and the proliferation of technological assisted mechanisms have created a new environment for doing business. Comparatively, yesterday’s businesses seemed to have been in the “dark” keeping to limited geographical locations, contacts and markets but business today with the technological boom, has created a global village with the advent of the worldwide web and social media which is redefining the way business in conducted especially in product and service development, marketing and publicity, customer attraction and retention, scouting and recruitment and so on. This book responds to contemporary calls for new ways of managing businesses with practitioner-oriented discourses on topical issues like business environments and how modern businesses can thrive in same. It discusses in some detail the general composition of business environments, specific factors that influence the operations and decisions of a business within its environment, the level of control businesses have over the factors that operate within the business environment and the need for businesses to be proactive and to strategize in order to take advantage of the opportunities the business environment presents as while minimizing the negative effects some factors also present. The book provides practical applications whilst not losing sight of the theoretical underpinnings. Case studies have been provided to elucidate the theories learnt and provide practical application to real life situations. Written in easy non-technical language, the book also has practice questions at the end making it an easy instructional manual for business owners worldwide. It is also a brilliant text for introductory students of business administration and management, and covers important business areas like types of business ownership and how to start a business.