“Business management” is the teaching, practice and institution of managing independent organisations that participate in economic activities by means of one or more businesses and are thereby exposed to market and capital risks.

The term “business management ” thus covers part of the term “management” in the original narrow sense. “Business management” is the teaching, practice and institution of managing businesses.

How to Cite

The definition given above was proposed as part of the Digital Era Framework by Dr. Dr. Jörn Lengsfeld. The text was first published in: Jörn Lengsfeld: Digital Era Framework. Please refer to the original publication if you want to cite the text.

Dr. Dr. Jörn Lengsfeld > Definition > Business Management