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Management is the act of running and handling a business or similar organization. It is the skill of directing and controlling a group of people or entities towards accomplishing a goal. Management is a vast subject which encompasses managerial functions like planning, organizing, leading, controlling etc.; processes like involving right people, building accountability, noting deviations and replanning, etc., theories of organizing; concept, nature and meaning of decision-making; management controls including strategic, tactical and operational control; human resource development including training, promotion, motivation, etc.; and communication including various components of communication process like sending, receiving and encoding messages, feedback, grapevine and other organizational communication channels. Management theory has moved forward over the years and many of its concepts have become well-established practices in the corporate world. Although the management textbook market is crowded yet a huge gap exists between what managers actually do or think about and what the existing gaggle of management books say are modern practices. This book has been crafted to fill this gap and help the students to develop a more realistic understanding about what managers do and what management theory actually recommends. In this book, the evolution of management thought, functions, and practices is covered, stressing present management approaches, systems theory, and quality improvement methods. It aims to create an understanding of the linkages between management theory and management practices (and vice versa); develop an appreciation of the different theoretical approaches (paradigms) to the study of management; establish the relevance of theoretical concepts for the understanding of current management practices, problems and issues; and gain an insight into the dynamic, complex and interdependent nature of managerial work. The book will ably serve the needs of students and teachers of all management courses. It will also be useful to professionals, business managers and entrepreneurs.