Definition of management: Management is defined as the process of planning, organising, actuating and controlling an organisation's operations in order to achieve coordination of the human.

Importance of management will be clear from the following points:

(i) Management helps in achieving group goals: Management is required not for itself but for achieving the goals of the organisation. It brings the human and non-human resources together and gives a common direction to efforts of all individual towards achieving the organisational goals.

(ii) Management increase efficiency: Management helps in reducing the cost and increasing productivity through better planning, organising, directing, staffing and controlling the activities of the organisation.

(iii) Management creates a dynamic organisation: An organisation operates in a constantly changing environment. Employees generally resist to changes as it often mean moving from a familiar, secure environment into a newer and more challenging one. Management helps people adapt to these changes so that the organisation is able to maintain its competitive edge.

(iv) Management helps in achieving personal objectives: A manager motivates and leads his team in such a manner that individual members are able to achieve their personal goals while working towards organisational objectives. Through motivation and leadership, management helps the individual to develop team spirit, cooperation and commitment to group success.