Management

Management is simply the process of optimally managing the allocated resources and achieving the goals of the organization. Optimally refers to achieving goals efficiently and effectively. Effectiveness refers to the ability to attain goals at all cost and efficiency refers the usage of minimum resources for the goal attainment. The study of management enables manager to achieve efficiency and effectiveness by specifying management functions. Management involves 4 basic functions which define almost every task a “manager” is supposed to do. These functions include planning, organizing, staffing, coordinating and controlling. The first know usage of the word “management” dates back to 1598

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