Meaning and Scope of Management

Management refers to imparting specialized Ideas for establishment of organization's objectives. The process of accomplishment of objectives in the organizational setting includes analyzing the requirements of the customer, planning to achieve them, execution of the plan and then managing the resources available to allocate best possible task to a particular person.

Management has been a matter of widely spread importance and interest since from beginning of Evolution of human beings. Today management is needed not only in professional and corporate world, but more importantly in personal; world to handle the complexities of today's life and give appropriate time and importance to a particular aspect of one's life. Thus, one has to be good manager all round to ensure living a satisfying and happy life.

Taking in account such vast importance of management in our lives, we can understand why management has been a widely studied area. The firms want employees that have been trained to attain raw practical knowledge about complex corporate world at the college level so that the firms can make them learn their tasks as early as possible. Thus, management has been a popular subject and a stream that is attracting more and more students towards it. The master's degree in this field is known as Maters in Business Administration (MBA). Although there are a lot of variants of the same and also other specialized courses that train and prepare students for various managerial aspects.

There are a lot of MBA Entrance exams in India that give students an opportunity to enter some of the premiere Management institutes of the country such as Indian Institutes of Management(IIMs) etc. Many of the management training in statutes in India are widely respected at the International level too as India has been recognized as the Most desirable education hub in the world in the recent times.