This chapter introduces basic principles of business and management. It explores the definitions, and business organizations. Students will learn about different types of business organizations, including Sole Proprietorships, Partnerships, Corporations, and Cooperatives, and understand their unique characteristics. The chapter also provides a comprehensive overview of management principles, emphasizing the essential functions of Planning, Organizing, Directing, Controlling, and Staffing. These topics will enable students to develop the skills necessary to coordinate resources, motivate teams, and ensure the effective achievement of organizational goals.