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 third 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 NEW FEATURE?
• 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.

Chapter 1: What is Business Management? – Andreas de Beer

• Introduction
• The scientific framework of business management
• Factors of production: methods to satisfy people’s multiple needs
• Entrepreneurship and business
• The business management cycle
• The business environment
• The value-chain approach
• About this book
• Summary
• Self-evaluation
• References

Chapter 2: General Management – Prof. Tersia Botha

• Introduction
• Definition of management
• Managerial skills
• Managerial levels
• Areas of management
• Creative problem solving, decision making and information management
• Management functions (tasks)
• Interaction of general management with other business functions
• Summary
• References

Chapter 3: Financial Management – Dumisani Mabasa

• Introduction
• The core principles of financial management
• Value-chain analysis for growth and profitabilit
• Financial statements
• Financing organisation needs
• Financial decisions
• Financial management and other organisational functions
• Summary
• Self-evaluation
• Addendum 1

Chapter 4: Credit Management – Dumisani Mabasa

• Introduction: the background development of credit
• The credit management function
• Credit management in practice
• Summary
• Self-evaluation
• References

Chapter 5: Corporate Social Responsibility – Prof. Gerrit van der Waldt

• Introduction
• CSR context and conceptualisation: the ‘what?’
• CSR applications: the why?
• CSR applications in business: the ‘how?’
• Summary
• Self-evaluation
• References

Chapter 6: Information Management – Dr Edmund Ferreira

• Introduction
• The role of information management and the information manager within a business
• Information systems
• Communicating information
• Communication format
• Summary
• Self-evaluation
• References

Chapter 7: Public Relations – Daniel B Tshabalala

• Introduction
• Definition of public relations
• The role of public relations
• Affiliation
• What are publics?
• Corporate image of a business
• Objectives of public relations
• The requirements of successful public relations
• The role of communication in public relations
• The public relations process
• Instruments of public relations
• Media for conveying public relations messages
• Interaction between public relations and other business functions
• Summary
• Self-evaluation
• References

Chapter 8: Operations Management – Prof. Rigard J Steenkamp

• Introduction
• Operations management is dynamic
• Operations management defined
• Operations strategy and operations design
• Operations planning and control
• Operations improvement
• Operations and the other functions of the business
• Summary
• Self-evaluation
• References

Chapter 9: Trends and Challenges in Internationalisation in Contemporary Management – Prof. René Pellissier

• A changing global business world
• Globalisation and internationalisation
• Internationalisation in a business context
• Risks
• Developing a global business strategy
• Managing internationalisation and the international business
• Challenges in internationalisation in a business context
• Models and approaches in internationalisation
• What does it take to be successful in internationalisation?
• The impact of internationalisation
• Future trends in internationalisation
• Summary
• Self-evaluation
• References

Chapter 10: Marketing Management – Prof. Mike Cant

• Introduction
• The marketing landscape
• Consumer behaviour
• Marketing research
• Market segmentation and target marketing
• The marketing mix
• Product life cycle
• Marketing control and implementation
• Relationship between the marketing function and the other business functions
• Summary
• Self-evaluation
• References

Chapter 11: Human Resource Management – Trevor Amos

• Introduction
• Definitions and scope of human resource management
• Human resource management in the business context
• Implementing HRM strategy: the HRM functional value chain
• Human resource service delivery
• Summary
• Self-evaluation
• References

Chapter 12: Purchasing Management in Supply Chain Management – Prof. Hannie Badenhorst-Weiss

• Introduction
• Purchasing as part of supply chain management
• Suppliers – the most important responsibility of purchasing
• The formation and management of strategic supplier alliances
• The use of information technology to integrate supply chains
• Sustainability in purchasing and supply
• Summary
• Self-evaluation
• References

Index