Learn what management is and How it works in our detailed blog. Understand the different functions of management, its principles, objectives, and levels.
Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type and size. It is an act of creating and maintaining such a business environment wherein the members of the organiza
Definition of Management: the art, science and practice of getting things done through people and resources. It involves coordinating efforts to accomplish desired go...
Sales Management Definition Sales management is the overall process of managing the sales operations including onboarding of sales team along with managing their sales targets through proper planning, coordination of sales activities which is often managed by a hierarchy of sales persons. It is a busi...
Definition: The term "management" characterizes the process of and/or the personnel leading and directing all or part of an organization (often a business) through..
Project Management Definition When we talk about project management we’re talking about an action. Someone (the project manager) is going to ensure that everyone else is doing what they need to be doing when they need to do it. The managers are the people who are going to make sure that...
Cost management is the process of planning and controlling a business budget. A good cost management system helps an organization estimate and allocate its budget. A form of management accounting, cost management gives a business accurate forecasts of impending expenditures, reducing the chance of exce...
Inventory Management Definition Inventory management is a critical process in business which ensures the availability of the right amount of finished goods to meet the orders fulfillment along forecasted demand while maintaining the working capital balance. Inventory Management is the business process of ma...
Definition: Production management is a set of activities that embrace planning, coordination, supervision, control and decision-making regarding resources and outputs of a production process. It often applies to the organizational functions in charge of the entire production activities, including volume, ...
Lean management is based on the Toyota production system, which was established in the late 1940s. Toyota put into practice the five principles of Lean management with the goal being to decrease the amount of processes that were not producing value; this became known as theToyota Way. By impl...