In simple terms, business administration is the work of managing an organization's resources, time and people. Business administration professionals work to ensure that businesses and organizations are run effectively, efficiently and profitably.

Business management is the process of planning, organizing, directing, and controlling the activities of a business or organization to achieve its goals and objectives. It involves overseeing all aspects of a business, from finance and operations to marketing and human resources.

A business plan outline is an initial overview of what goes into the business plan. An outline is created as the first draft and is likely a result of a “napkin” discussion or some other non-formal gathering of ideas.

The five points of importance of management are achieving organization goals, achieving individual goals, creating a dynamic environment, developing society, and improving efficiency. Management refers to the process of performing tasks efficiently and effectively while achieving personal and organizational goals.