Which term refers to the overall process of planning, organizing, leading, and controlling a business?

Prepare for the FBLA Exploring Business Concepts Test. Dive into multiple choice questions covering key business concepts. Understand the exam format with hints, explanations, and tips for success. Get ready for your exam!

The term that refers to the overall process of planning, organizing, leading, and controlling a business is management. Management encompasses a wide range of activities aimed at achieving organizational goals through the effective coordination of resources and personnel.

In the context of this process, planning involves setting objectives and outlining how to achieve them. Organizing entails arranging resources and tasks in a structured manner to implement the plan efficiently. Leading focuses on motivating and directing employees to work towards the organization's goals, while controlling involves monitoring performance and making adjustments as needed to ensure that objectives are met.

Other terms listed, such as finance and accounting, relate specifically to certain functions within a business. Finance deals primarily with managing money and investments, while accounting focuses on recording and reporting financial transactions. Global marketing pertains to strategies for promoting and selling products internationally. These functions are crucial for a business's success but do not cover the holistic view of managing an organization like management does.

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