Setting up a firm:
In the first chapter, the firm is conceived as a „object of experience of business administration“. After a short overview on the various classification concepts of business administration, the tasks of the management will be presented.
The second chapter focuses on the production as main operational function. The production and cost theory are presented as well as the various planning horizons of the production.
It is the task of marketing to put the products (including the services) on the market. Its significance, tasks, and goals are explained in chapter three.
Investment and Financing:
In order to ensure the continuity of the firm in the long run, the provision of funds and their usage should be carefully planned. Chapter four explains the circuit of funds.
The last chapter discusses the tasks and essential components of a firm’s accounting unit. Its goal is it to quantify the processes and relations within a firm and to provide that information for planning, steering, and controlling purposes.