Management, unlike other subjects such as economics, philosophy, political science is of a recent origin and hence, a relatively new subject. Being an evolving concept (George 1972), it is still in its developing stage. So far as the meaning of management is concerned, like other socio-economic terms, it has also been defined differently by different authorities.

Having gone through the above definitions of management, now it can be simply defined as management is getting things done along with others/ subordinates. In other words, it is a process of various functions like planning, organizing, leading, and controlling the business operations in such a manner as to achieve the objectives set by the business firm. It consists of all activities beginning from business planning to its actual survival.

Characteristics of Management:

The salient characteristics of management that flow from above definitions are:

1. Management is a purposeful activity.

2. It is getting things done through and with others in a desired manner.

3. It concerns with the efforts of people working in the enterprise.

4. It relates to decision-making.

5. It is a process consisting of various functions such as planning, organizing, leading, and controlling.

6. Management is both the science and art. It is science because it has developed certain principles and laws. At the same time, it is an art also because it is concerned with the application of knowledge or principles for the solutions of the organizational problems.