• Management is the process of getting a task done with the aim of achieving the goals of the organization in an effective and efficient manner.

• The different functions of management are planning, organizing, staffing, directing and controlling.

• The term effective means completing the given task and efficient means completing the task with minimum cost and time.

• In short, management is the process of planning, organizing, staffing, directing and controlling in such a manner that the goals of the organization are met with minimum cost and time.