Definition of Management

Management’s primary function is to get people to work together for the attainment of an organization’s goals and objectives.

Learning Objectives

Recognize the difference between traditional, team, and servant management.

Key Takeaways

Key Points

  • Management processes include planning, organizing, directing and controlling.
  • An important aspect of management’s function is the allocation of finite resources.
  • Resources can be human, financial, technological or natural.
  • There are different management styles: Traditional, team, and servant.

Key Terms

  • system: A whole composed of relationships among the members.
  • resource: Something that one uses to achieve an objective. An examples of a resource could be a raw material or an employee.

Management: An Overview

Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Since organizations can be viewed as systems, management can also be defined as human action, including design, to

Read More

Everything you need to know about marketing management. Marketing Management performs all managerial functions in the field of marketing.

Marketing Management identifies market opportunities and comes out with appropriate strategies for exploring those opportunities profitably.

It has to implement marketing programme and evaluate continuously the effectiveness of marketing-mix. It has to remove the deficiencies observed in the actual execution of marketing plans, policies, and procedures. It looks after the marketing system of the enterprise.

Management is the process of getting things done in an organised and efficient manner. Marketing management aims at efficient operation of marketing activities.

Marketing management smoothen the process of exchange of ownership of goods and services from seller to the buyer. Marketing management, like all other areas of management comprises of the function of planning, organising, directing coordinating and controlling.

Learn about:- 1. Definition of Marketing Management 2. Marketing Concept 3. Features 4. Importance 5. Functions

Read More