Meaning of management

An organisation, whether commercial, industrial, educational, charitable,
governmental or any other, comes into existence when a group of persons join together for
the attainment of some objective(s). Management encompasses the efforts made to achieve
stated objectives by directing human activities in the production of goods or services
herewith using land, factories, offices, materials, methods, money and/or other facilities in
the most effective manner.
There is no generally accepted definition of „management‟ as an activity, although the
classic definition is still held to be that of Henri Fayol (1841-1925).
„To manage is to forecast and plan, to organize, to command, to coordinate and
to control‟. (1916)