What is Management ?
Management is the process of organizing and directing resources in order to effectively achieve business and organizational goals. Those resources include people, finances, materials, and information. To be a successful manager, you need skills in decision making, financial analysis, and interpersonal relationships, as well as the ability to apply those skills in a context of constraints, opportunities, and alternatives.
As managers progress within organizations, the technical expertise that helped them to obtain their first jobs often becomes less important, and their abilities to organize the work of others and to help decide what course of action the organization should take become more valuable. As the environment of an organization—including economic, political, competitive, regulatory, and cultural factors—becomes more complex, there is an increased demand for mangers with the necessary skills, understanding, courage, and energy to tackle the difficult demands facing organizations of all kinds.
The purpose of an MBA education is to provide training in the theory and practice of business management. Professional management programs are based on the premise that people can learn to manage all types of business situations more effectively. MBA programs not only help their students to develop skills that are highly valued by many employers, but the programs also present a theoretical context for solving many business problems.
Of the various types of graduate management degrees that exist, the Master of Business Administration (MBA) is only one. Other management degrees include Master of Science in Business Administration (MSBA), Master of Public Administration (MPA), Master of Science in Administration (MSIA), Master of Public and Private Management (MPPM), and Master of Management (MM). Graduates holding any of these degrees are professionals prepared for management responsibility.