ABSTRACT
The chapter provides a universal view on Management right from the concept and nature to the objectives. The interpretation of the term Management from the aspect of a process, activity, and discipline provides substantive clarity to the readers. The organizational, personal, and social objectives of an organization need to be aligned with and effectively managed and so does ensuring optimal cost and utilization of the resources within an organization. With the business environment being highly dynamic, it is through good management, appropriate actions on the forecasts are taken, those which create either opportunities or threats. The chapter throws adequate light on the growth and survival of an organization and provides insights into the levels of Management and functions across the levels. The requirements with respect to technical, human, and conceptual skills, in addition to managerial competencies that constitute conflict resolution, aligning to performance-oriented goals, strategic planning, and decision-making, building relationships, and diversifying have been introduced in this chapter supported by examples, mini-cases, and case studies. The functional areas of management, the impact of external (macro) and internal factors (micro) on the businesses, and the tactics to manage the same are some of the key highlights of this chapter.
