Management is a universal phenomenon. Every individual or entity requires setting objectives, making plans, handling people, coordinating and controlling activities, achieving goals and evaluating performance directed towards organizational goals. These activities relate to the utilization ofvariables or resources from the environment − human, monetary, physical, and informational.
Human resources refer to managerial talent, labor (managerial talent, labor, and services provided by them), monetary resources (the monetary investment the organization uses to finance its current and long-term operations), physical resources (raw materials,
Physical and production facilities and equipment) and information resources (data and other kinds of information).
Management is essentially the bringing together these resources within an organization towards reaching objectives of an organization.
