Management is a function carried out in organizations to coordinate the business activities and achieve the goals and objectives of an enterprise. The management function starts from planning of the business mission and objectives. Furthermore, organizing, coordinating, directing, and control functions are carried out. The top management has the power to make important decisions on the working of the business. Management processes are multidimensional and pervasive. It involves management of people and operations in a business. Management helps in arranging factors of production and integrating limited resources to achieve goals. It optimally utilizes human and physical resources in a productive way. It helps in reducing costs by proper use of physical, financial and human resources. An efficient management system leads to improvement of economic production which further helps in building a prospering society. It creates employment opportunities, increases profit and improves standard of living.
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