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Management could be defined as the process whereby management of the people, resources, assets, liabilities could be done for an organization. Management as a word which is not confined to only few activities, rather its scope is widespread, and has within its scope in varied activities, of different types and levels. The managers must consider and manage various activities in their day to day affairs. This should be done before ensuring that they can perform up to the desired level of performance. The management process is an all round process involving co-ordination of various functions and departments. It protects the interests of various individuals and groups. The importance of management can be understood from the mere fact that the success and failure of various organizations depend on the manner in which the same is managed (Ahiazu, 1986).
It has been seen in the past that various successful and developing companies have failed. The only reason was an improper management process and the inefficiencies of the management team. As a result the process of management has gone through considerable level of change. The managers have started increasingly to be active in the areas of management. They give an overall look for the organization. New policies are being implemented so that all the objectives of the organization are achieved. The organization is said to be primarily at a place for meeting the corporate vision and mission. In the process of the same, it undertakes several changes which helped it achieve all the goals of management. The corporate vision and mission for an organization have been important in the recent past that the amount of efforts taken for meeting them, were enormous. The corporate firms are nowadays investing significant amount of funds to hire and retain the talented and competent manpower for the company. These should be people who can well manage the concern, and look into the affairs of the organization. The overall management process has seen considerable change in light of some major corporate failure and defeats in meeting the objectives of the enterprises. The enterprise has been exploring and implementing various corporate solutions to manage this problem. In an attempt to resolve them, it has certainly come out with effective methods which ensure quality management. There has been rising demand for the skilled management personnel. The management of an organization is in a very difficult and important job role (Evan et al, 1989). At one place they are in charge of implementing the policies of the organization, and on the other hand they have to see whether the policies are as per the requirements and needs of the people.
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