Management is essential for an organised life and it is necessary and important when it comes to running businesses, even in our day to day lives. It is said that good management is the backbone of a successful organisation. There are many definitions to management. According to F.W. Taylor, 'Management is an art of knowing what to do when to do and see that it is done in the best and cheapest way.' All organisations - business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose.
Today, leadership also plays an integral part in management. Leaders play a vital role in managerial operations, managing technical components as well as social processes. One may think that the ability to lead or manage a group of people is largely innate. But the truth is, whatever qualities you were born with, leadership depends on a skillset that every successful leader has or had to learn at some point to to successfully manage an organisation or business. The study of management will help enhance knowledge and provide leaders with sound working knowledge and practices that govern businesses and and organisations, allowing them to understand and drive organisational growth.