Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
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.
Sport
Sport (British English) or sports (American English) includes all forms of competitive physical activity or games which, through casual or organised participation, aim to use, maintain or improve physical ability and skills while providing enjoyment to participants, and in some cases, entertainment for spectators. Hundreds of sports exist, from those between single contestants, through to those with hundreds of simultaneous participants, either in teams or competing as individuals. In certain sports such as racing, many contestants may compete, simultaneously or consecutively, with one winner; in others, the contest (a match) is between two sides, each attempting to exceed the other. Some sports allow a tie game; others provide tie-breaking methods to ensure one winner and one loser. A number of contests may be arranged in a tournament producing a champion. Many sports leagues make an annual champion by arranging games in a regular sports season, followed in some cases by playoffs.
Business
I believe that leaders and leadership teams working together in a proper design will run the business more effectively than by hierarchical, command-and-control managing. But I can't prove that. And there are no models.
Marvin Bower (1966) The Will to Manage p. 7.
Management
Management as an activity has always existed to make people’s desires through organized effort. Management facilitates the efforts of people in organized groups and arises when people seek to cooperate to achieve goals.
Daniel A. Wren and Arthur G. Bedeian. The evolution of management thought, 1972, p. 11-12
Business
I never can make out how it is that a knight-errant does not expect to be paid for his trouble, but a peddler-errant always does.
John Ruskin, The Crown of Wild Olive: Three Lectures on Work, Traffic, War (1866), p. 127.
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