Strategy
is a method or plan chosen to bring about a desired future, such as
achievement of a goal or solution to a problem.
The
art and science of planning and marshalling resources for their most efficient
and effective use. The term is derived from the Greek word for generalship or
leading an army management - The organization and coordination of the
activities of a business in order to achieve defined objectives.
Management is often included as a factor of
production along with‚ machines, materials, and money. According to the
management guru Peter Drucker (1909-2005), the basic task of management
includes both marketing and innovation. Practice of modern management
originates from the 16th century study of low-efficiency and failures of
certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535).
Management consists of the interlocking functions of creating corporate policy
and organizing, planning, controlling, and directing an organization's
resources in order to achieve the objectives of that policy.
