Understanding Types of Systems & the Structure of Linear Systems 📊

According to Theo Heimann, management has three different meanings, viz.,<br /><br />Management as a Noun : refers to a Group of Managers.<br /><br />Management as a Process : refers to the Functions of Management i.e. Planning, Organising, Directing, Controlling, etc.<br /><br />Management as a Discipline : refers to the Subject of Management.<br /><br />Management is an individual or a group of individuals that accept responsibilities to run an organisation. They Plan, Organise, Direct and Control all the essential activities of the organisation. Management does not do the work themselves. They motivate others to do the work and co-ordinate (i.e. bring together) all the work for achieving the objectives of the organisation.<br /><br />Management brings together all Six Ms i.e. Men and Women, Money, Machines, Materials, Methods and Markets. They use these resources for achieving the objectives of the organisation such as high sales, maximum profits, business expansion, etc.