From ancient times onwards management is considered to be a science and some believe it to be an art. From the start of 20th century many scientific aspects of Management came into picture. Earlier in 19th century it was considered to be an Art. At the start when it was new it was considered Manage Men Tactfully then gradually it was defined as getting work done by the people. To sum up we can tell that it is about managing men.

In present time management definition comes in a more comprehensive way i.e. managing of Four M’s that are Man, Money, Material, and Machinery. Different Authors have given different meaning of it. With every meaning comes new picture of it by which the scale of it is growing day by day.

The importance of management can be given as sensible use of available resources for achieving the organizations missions and objectives. One more factors which it is accountable for is implementation of Business Strategies & Policies. The basic objective of any organization is to earn heaps of profit. But one care it has to take it has to give some share to the stake holders by which they will be motivated. This is where the role of it comes into picture to increase the profitability of the organization and give relevant share to stake holders. One more important role it has to produce goods and services as per customer’s requirement. The role of it do not stop here it has to find way for internal as well as external rifts in the interest of the organization.

Management is also calculated as a function involving five activities which involves planning for man machine & money. Second one is organizing which involves streamlining all activities in the organization. Third one is directing which involves giving directions to all departments regarding the activities which they have to carry. The fourth one is staffing which involves recruitment and training and satisfying manpower requirement in the organization. The fifth one is controlling which involves various control activities in the organization. Thus in theory this hold true in the definition of management. These functions vary from organization to organization there may be permutation and combinations of these functions.

Management these days is divided into many branches such as management of Operations, Information technology, Human Resource, Marketing, Strategic and Financial. Each of these branches has different functions which ultimately escort us to it for using man, machine & money more effectively for increasing the profitability of the firm. Depending on the organization size selection of branches can be done by expertise.

To sum up we can tell that management is the science of managing all activities of the organization right from procurement of raw material, recruitment of manpower, erection of machinery, accounting, marketing, after sales service, policies, logistics & stock control to increase the profitability and growth of the organization. This Skill can be achieved by experience as well as doing courses such as M.B.A. or PGDBM in India.