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Prague, Czech Republic

Institute of Chemical Technology, Prague

Company Management and Economics

Řízení a ekonomika podniku

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Company Management and Economics at VŠCHT »
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⇑Company Management and Economics at VŠCHT

Language: Czech Studies in Czech

Subject area: economy and administration

University website: www.vscht.cz

Years of study: 3

⇑Definitions and quotes

Economics

Economics () is the social science that studies the production, distribution, and consumption of goods and services.

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Management

Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.

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Economics

The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.

L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.

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Management

Management of many is the same as management of few. It is a matter of organization.

Sun Tzu (c. 6th century BC) The Art of War

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Management

The remarkable thing about management is that a manager can go on for years making mistakes that nobody is aware of, which means that management can be a kind of a con job.

Akio Morita (1987). Made in Japan, p. 154

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