Hallmark Scandal

In: Business and Management

Submitted By sanjidarinti
Words 2082
Pages 9
What is Management?
Management is the process of achieving organizational objectives through people and other resources.
On the other hand we can say, management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. The manager’s job is to combine human and technical resources in the best way possible to achieve the company’s goals.
The concept of management has acquired special significance in the present competitive and complex business world. Efficient and purposeful management is absolutely essential for the survival of a business unit. Management concept is comprehensive and covers all aspects of business. In simple words, management means utilizing available resources in the best possible manner and also for achieving well defined objectives. It is a distinct and dynamic process involving use of different resources for achieving well defined objectives. It is the end result of inputs and is available through efficient management process.
The term management is used extensively in business. It is the core or life giving element in business. We expect that a business unit should be managed efficiently. This is precisely what is done in management. Management is essential for the conduct of business activity in an orderly manner. It is a vital function concerned with all aspects of working of an enterprise.

What are the functions of Management?
Effective management involves creative problem solving, motivating employees and making sure the organization accomplishes objectives and goals. There are five functions of management: planning, organizing, staffing, directing and controlling.
These functions are considered the most important. Learning how to balance each of these is the key to effective management within a company. If one is focused too much on one function as…...

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