No business exists in a vacuum – it is impacted on by a constantly evolving world, which presents new challenges and opportunities every day. To cope with these, a business should be proactive and adaptive, not just at an operational level, but at a functional and strategic level as well. There are 12 chapters in Business Management: A Contemporary Approach focuses specifically on the functions of the business organisation and how to respond to changes in the micro-, and macro-environment, and in the market.

An introduction to the field of business management orients the reader, followed by general management principles applicable to any business manager. The book goes on to cover the various functions of the business organisation: financial management; credit management; information management; public relations; operations management; marketing management; human resource management; and purchasing management in supply chain management. It also covers contemporary issues like corporate citizenship and trends and changes in internationalisation.

The fourth edition of Business Management: A Contemporary Approach includes new features and updated content, such as:

• New case studies applying theory to practical situations
• Experiential exercises and multiple-choice questions
• Up-to-date theory on the functions of the business organization
• In-depth analysis of the relevant issues of corporate citizenship, globalisation and international trade

This book will equip readers with a general understanding of the divergent internal functions of the business organisation and the interrelationships between and among these functions. The readers will also be equipped with the necessary competencies (knowledge, skills and values) to perform the tasks and roles of a manager in any functional area of a business. At the end of each chapter, there are questions for self-assessment. By answering these questions, you will get an idea of whether you have mastered the chapters.