Five M's of management - 5 M's of business - What are five M's - Edupedia
Management is responsible for the smooth working of the organization. They are authorized to use different resources of the organization for controlling its uses and allocating these resources on the right place to get the objectives of the organization. The resources are Man, Money, Material, Machines and methods. The working of the management is to direct all these resources towards the results achievement in effective manners. Definition of Management: “Management refers to managing and controlling the different processes and procedure of the organization”. They handle and controls the different resources especially the human resource of the organization and direct toward achieving the desired objectives of the organization. Management coordinates between the high level directors and lower level workers, guides and aware the employees with company policies and makes settlement of all the resources of the organization. The main focus of the management is about the organiza...