Practical Management Science

Management is the administration of any organization such as a business, a government body or a non-profit organization. It deals with the formulation of strategies of a firm and the coordination of the efforts of its employees in order to achieve the organization’s objectives through the application of available resources. Some of these resources are financial, natural, technological and human resources. The management of an organization involves a few basic functions such as planning, organizing, coordinating, commanding and controlling. The management of most organizations is divided into three tiers, in a pyramidal hierarchical structure. These levels are senior management, middle management and lower management. This textbook elucidates the concepts and innovative models around prospective developments with respect to management. Some of the diverse topics covered in this book address the varied branches that fall under this category. It aims to serve as a resource guide for students and experts alike and contribute to the growth of the discipline.