A business is a legal organizational entity to sell good and/or services to consumers usually to generate profit. 
On the two levels, the management system can be conceptualized. The first level involves the internal environment of the organization.
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An organization can be viewed as a resource conversion machine that takes the inputs like money, labor, materials. and equipment from the outside
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world or external environment, and converts them into the useful products, goods, and services, and makes them available to the customers as outputs.
read moreManagement system’s second level involves the external environment of the organization.
It consists of the outside institutions and forces that have an actual or potential interest or impact on the ability to achieve its objectives.
