Management-The organization and coordination of the activities of

a business in order to achieve defined objectives.

Management is often included as a factor of production along with machines, materials, and money.
According to the management guru Peter Drucker (1909-2005), the basic task of management includes
both marketing and innovation. Practice of modern management originates from the 16th
century study of low-efficiency and failures of certain enterprises, conducted by the English
statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of
creating corporate policy and organizing, planning, controlling,
and directing an organization's resources in order to achieve the objectives of
that policy.The directors and managers who have the power and responsibility to make decisions and
oversee an enterprise.The size of management can range from one person in a small organization to
hundreds or thousands of managers in multinational companies. In large organizations, the board of
directors defines the policy which is then carried out by the chief executive officer, or CEO. Some people
agree that in order to evaluate a company's current and future worth, the most important factors are
the quality and experience of the managers.Management in business and organizations is the function
that coordinates the efforts of people to accomplish goals and objectives using available resources
efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing,
and controlling an organization or initiative to accomplish a goal. Resourcing encompasses the
deployment and manipulation of human resources, financial resources, technological resources,
and natural resources. Management is also an academic discipline, a social science whose object of
study is the social organization.
Management is defined as the organization and coordination of the activities of an enterprise in
accordance with certain policies and in achievement of clearly defined objectives
Fredmund Malik defines as Management is the transformation of resources into utility.
Management included as one of the factors of production - along with machines, materials and
money
Peter Drucker (19092005) sees the basic task of a management as
twofold: marketing and innovation. Nevertheless, innovation is also linked to marketing (product
innovation is a central strategic marketing issue). Peter Drucker identifies marketing as a key
essence for business success, but management and marketing are generally understood as two
different branches of business administration knowledge.
Andreas Kaplan specifically defines European Management as a cross-cultural, societal management
approach based on interdisciplinary principles.
Directors and managers should have the authority and responsibility to make decisions to direct an
enterprise when given the authority
As a discipline, management comprises the interlocking functions of formulating corporate policy
and organizing, planning, controlling, and directing a firm's resources to achieve a policy's objectives
The size of management can range from one person in a small firm to hundreds or thousands of
managers in multinational companies.
In large firms, the board of directors formulates the policy that the chief executive officer
implements.