Abstract
Management is a universal phenomenon. It is present in virtually all walks of life. Management is not confined merely to a factory or an office. Skillful management is needed in clubs, families, schools, sports, teams and social functions like marriages, picnics parties and so on. Lack of proper management invariably results in chaos, wastage of time, money and effort. Although management is needed in various activities, it has special significance with respect to business enterprises in the public as well as private sectors. The productive efficiency of business firm depends a great deal on the quality of management. Also effectiveness of management is a major factor determining the growth and prosperity of a business on which rests the process of economic growth.
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