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Definitions of management
Several definitions of management have been given by different scholars. Mary Follet defined management as "having work done through others." Another popular definition is that "management is a set of activities directed at the efficient utilization of resources in pursuit of one or more goals. (Therefore according to this definition management is a process of achieving goals). This process involves four major activities; planning, organizing, directing and controlling.
The key characteristics of management are that:a) Management is systematic i.e. it is a process that follows certain activities.
b) Management is pervasive i.e. it is practised in all organizations, private and public, small and big, social and business and at all levels in these organizations. In other words management is universal.
c) Management is complex i.e. it involves several different activities that managers must engage in and which keep varying or changing frequently.
what are the limitations of financial management and control in tertiary institutions
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