Management is an inevitable element for directing and unifying the group efforts towards a common objective. Since the most of the human aims can be well realized only through collective action, management is universally called for in all such organizations of the society.

Management – Meaning, Role, Importance, Limitations

In short, management is not merely the task of managing the business. But it is an essential accompaniment of all social organizations and is to be found everywhere as a distinct and dominant activity.

In other words, management functions have universal application. While describing the pivotal role of management in the social history, Drucker rightly remarked that

Management which is the organ of society specially charged with making resources productive that is with the responsibility for organized economic advance, therefore reflects the basic spirit of the modern age.

With the growth of industry and commerce and the separation of ownership from

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