ABSTRACT
Business enterprises—and public-service institutions as well— are organs of society. They do not exist for their own sake, but to fulfill a specific social purpose and to satisfy a specific need of a society, a community, or individuals. There are three tasks, equally important but essentially different, that management has to perform to enable the institution in its charge to function and to make its contribution. Which includes establishing the specific purpose and mission of the institution, whether business enterprise, hospital, or university, making work productive and the worker effective and managing social impacts and social responsibilities. Business management must always, in every decision and action, put economic performance first. It can justify its existence and its authority only by the economic results it produces. A business management has failed if it does not produce economic results.
