ABSTRACT
This chapter shows how business control is the responsibility of management. Management can be used both as a collective noun for managers, or for the function which managers perform. The principles of good management or efficient control operate equally in a small business as in a large one. A business can take one of main forms today; the one-man business, the partnership, the private limited company, or the public limited company. The private limited liability company does not offer its shares for sale in the public share market or ‘stock exchange’. Many private companies fall by the wayside, often through lack of sufficient initial capital or lack of managerial ability. Many successful companies today are financed by what are called ‘holding companies’, whose main business is to supply finance and financial control to smaller companies within the group. Problems of management often arise in overseas countries which require the greatest ingenuity and management skill to solve.
