MANAGEMENT- AN OVERVIEW

Management is the most important aspect of human life. We use this word in two different senses, the first one is ‘management of personal activities’ and the other is ‘management of economic activities’.

Management of personal activities literally means and includes planning and organizing our day to day affairs in systematic manner. We need to manage our family, health, relations, work, etc.

Management of economic activities means and includes the planned and judicious use of the resources for economic purpose to get optimum profit. The resources which need to be managed are capital, equipments, human efforts, products etc.

Management is just like the brain for any business or economic activities. As our body can’t work systematically without brain, in the same way any business or economic activities are unable to work properly and achieve the desired result without management.

A business enterprise and all its resources are of no use unless and until managed properly and systematically. Hence, management is the only stimulus which makes the resources to work properly and give the expected result within the due stipulated time.

Thus, it can be concluded here that management is the process of directing human efforts and activities to convert the ideal resources into meaningful product or services. Management is the only force which can convert the objectives and its plan of any respective enterprise into reality.