Management is the process of coordinating people and other resources to achieve the goals of the organization. Most organizations use four kinds of resources. Material resources are the tangible, physical resources an organization uses. Financial resources are the funds the organization uses to meet its obligations to various creditors.
Information enables the organization to know what is changing and how it is changing.
Then the company can adapt to change. It is important to realize that these four resources are only general categories of resources. Within each category are hundreds or thousands of more specific resources, from which management must choose those that can best accomplish its goals. A number of management functions must be performed if any organization is to succeed. First, goals must be established for the organization, and plans must be developed to achieve those goals.