There are twin purposes of the management process: They are
(i) Maximum productivity or profitability; and
(ii) Maximum human welfare and satisfaction.

1. The substance of management should be identified as a process.
2. A process is something that what a person does in the context of his individual duties and responsibilities assigned by his or her immediate higher authority.
3. A process also implies ongoing and unleasing cyclical operations

According to peter Drucker three jobs of management are:
(i) Managing a business
(ii) Managing a manager
(iii) Managing workers and work.

Esprit de corps means "union is strength". In an organisation, employees should be harmony and unit. It improves the employee morale.

(i) This principle states that each subordinate should receive orders and be accountable to one and only one superior.
(ii) If an employee receives orders from more than one superior, it is likely to create confusion and conflict.
(iii) It is the control function which facilitates synchronization of actual performance with pre determined standards.

Scientific management refers to the use of scientific methods to management problems.

Men, Machine, Money and Materials are called 4 M's.

The functional area of management are : export management, personnel management, general management, production management, marketing management and financial management.

All related activities should be put under one group, there should be one plan of action for them and they should be under the control of one manger.

Responsibility means obligation for performance. It is the amount of work expected from a man by his superior.

(i) The span of management refers to the number of subordinates who can be managed efficiently by a superior.
(ii) Simply, the manager having the group of subordinates who report him directly is called as the span of management.

Authority means the right ofa superior to give the order to his subordinates whereas responsibility means obligation for performance.

(i) Manager is a dynamic and life-giving element in every business.
(ii) Without efficient management it cannot be secure the best allocation and utilisation of human, material and financial resources.

Tools of managements have been developed such as accounting, business law, psychology, statistics, econometrics, data processing, etc.

Management is the process of giving direction and controlling the various activities of the people to achieve the objectives of an organisation.