Editing Business (section)

== Management ==
{{Main|Management}}
{{For outline|Outline of business management}}
The efficient and effective operation of a business, and study of this subject, is called [[management]]. The major branches of management are [[finance|financial management]], [[marketing]] management, [[organizational studies|human resource management]], [[strategic management]], [[manufacturing|production management]], [[operations management]], [[service management]], and [[information technology management]].<ref>{{Cite web |title=What Are the Branches of Business Management? |url=https://www.business.com/articles/8-branches-of-business-management/ |access-date=2022-11-26 |website=business.com |language=en}}</ref>

Owners may manage their businesses themselves, or employ managers to do so for them. Whether they are owners or employees, managers administer three primary components of the business's value: financial resources, capital (tangible resources), and [[human resources]]. 

=== Restructuring state enterprises ===
In recent decades, states modeled some of their [[asset]]s and enterprises after business enterprises. In 2003, for example, [[China]] modeled 80% of its [[state-owned enterprise]]s on a company-type management system.<ref>[http://english.people.com.cn/data/China_in_brief/Economy/Major%20Industries.html Major Industries] {{Webarchive|url=https://web.archive.org/web/20080611054922/http://english.people.com.cn/data/China_in_brief/Economy/Major%20Industries.html |date=2008-06-11 }}. People.com</ref> Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.

=== Business process management ===
Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of [[Client (business)|clients]]. BPM attempts to improve processes continuously. It can, therefore, be described as a "process optimization process". It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.{{who|date=October 2013}} <!-- also what does this have to do with state enterprises? -->