Danubius International Conferences, 18th International Conference on European Integration - Realities and Perspectives
The strategic management of the company - the business development solution
Last modified: 2023-04-28
Abstract
A business, also known as a business or firm, represents an organization that deals with the trade of goods and/or services to consumers. Businesses predominate in market economy countries, most of which are privately owned. Similarly, businesses can be non-profit or state-owned. The business owned by several individuals is also called a company. For a long time, business management was done in an intuitive way, the success of companies being based, most of the time, on the entrepreneurs' native ability to think as a whole. The great fortunes of the past centuries were achieved, in part, due to luck or favorable circumstances. In recent times, however, management has individualized itself as an independent economic science, the way of management being based more and more on exact formulas and the use of the most correct information for decision-making.
