Definition of Management

 Definition of Management

It is very difficult to give a precise definition of the term ‘management’. Different scholars from different disciplines view and interpret management from their own angles. The economists consider management as a resource like land, labor, capital and organization. The bureaucrats look upon it as a system of authority to achieve business goals. The sociologists consider managers as a part of the class elite in the society.

The definitions by some of the leading management thinkers and practitioners are given below:

Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way. —F.W. Taylor

To manage is to forecast and to plan, to organize to command, to coordinate and to control.       —Henry Fayol

Management is guiding human and physical resources into dynamic organizational units which attain their objectives to the satisfaction of those served and with a high degree of morale and sense of attainment on the part of those rendering service. —American Management Association


Management is a multipurpose organ that manages a business and manages Managers and manages Workers and work. —Peter Drucker

Lastly we can say that, Management is a distinct process consisting of planning, organizing, actuating and controlling performed to determine and accomplish the objectives by the use of people and resources.