Manage business exercise? (4)
I believe the answer is:
cope
'manage' is the definition.
(manage can mean to cope or do well)
'business exercise?' is the wordplay.
'business' becomes 'co' (short for company).
'exercise?' becomes 'pe' (Physical Education).
'co'+'pe'='COPE'
(Other definitions for cope that I've seen before include "loser of Prestonpans" , "Manage effectively" , "Priest's ceremonial cloak" , "Episcopal cloak" , "special cloak" .)