the role of business management in the economic development of a country

the role of business management in the economic development of a country

our main goal in this paper is to show that management plays as important a role as entrepreneurship in the growth process in a modern free market economy. the importance of management for economic growth is highlighted by common innovations in established firms.

however, it is important to remember that management is heterogeneous and the actions of managers have different effects on firm performance. as a result, the quality of management, as well as the adoption of appropriate management practices, has a direct impact on economic growth. new research at the firm level is necessary to increase our understanding of how efficient management ensures factor inputs and drives incremental innovation. in this article, we examine its dimensions in different management branches.