In recent years, the application of AI has been witnessed in various domains and disciplines, mainly AI in terms of large-scale pre-trained language models (LMs) and Visual Language models which are the prompt engineering types that have gained increasing attention in the field of Business and Management field. The prompt engineering approach is considered vital leverage in the areas of BM tasks. In this AI-generated review, we will try to discuss various aspects of prompt engineering encompassing the domain of management and also highlight various applications in this area. This paper also tries to examine the challenges of applying prompt engineering in the context of business management. This is a descriptive case study research exploring various facets of prompt engineering and application on the spectrum of business management. Through this exploration, this paper intends to contribute to the evolving dialogue on the integration of human creativity with generative AI capabilities, offering insights into the future of effective and ethical AI interaction. Prompt engineering, Artificial intelligence, large language models, Visual language models, Business Management, Human-AI interaction, Chat GPT, Generative AI