Focus of this section
Management and business studies is the study of business as an organisational arrangement in contemporary society. It is concerned with the way in which business is structured, owned, financed and governed for the benefit of different parties. It examines how business is managed and the different functions that are undertaken by a business organisation. It assesses the relevance of external factors such as economic, political and sociological influences and the impact that business has on societies and environments within which it operates. It evaluates how business commercialises technological innovations and the contribution of new entrepreneurial as well as established enterprises to that process.