Henry Fayol offers one of the most popular definitions of management. According to him management is to forecast, plan, organize, lead, coordinate and control in order to achieve a certain goal. In other words to manage means to take decisions and then to take the responsibility for what you have previously decided. In general we are managers of our own lives and the process of management is everywhere in our world. Lets take a student studying in IU for example – his main goal is to graduate successfully, to reach good results and finally to make a successful career in business. Through the functions of planning, organizing, leading and controlling this student can achieve all his previously set goals mentioned above.
The first step –
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