Management, unlike other subjects such as economics, philosophy, political science is of a recent origin and hence, a relatively new subject. Being an evolving concept (George 1972), it is still in its developing stage. So far as the meaning of management is concerned, like other socio-economic terms, it has also been defined differently by different authorities.

As a result, there is no single definition on the term but many. We do not have unified views on what management is precisely. The following are a few of the important definitions of the term ‘management’. Mary Parker Follett views, “Management is the art of getting things done through people (Follett 1941).”

According to Henri Fayol (1949) who is considered the father of principles of administrative management, “To manage is to forecast, to plan, to organize, to command, to co-ordinate, and to control.”

In the opinion of Fredrick Winslow Taylor (1947), “Management is knowing exactly what you want men to do and then seeing that they do it in the best and cheapest way.”

According to George R. Terry (1953), “Management is a distinct process consisting of planning, organizing, actuating, and controlling performance to determine and accomplish the objectives by the use of people and resources.” Peter F. Drucker opines, “Management is a multi-purpose organ that manages business, manages manager and manages workers and work (Drucker 1970).”