1. Management is essentially a matter of organizing people. Managers, especially top managers, have to set objectives for their organizations, and then develop particular strategies that will enable the company to achieve them. This will involve allocating the company's human, capital and physical resources. Strategies can often be subdivided into tactics – the precise methods in which the resources attached to a strategy are employed. 2. Managers analyze the activities of the organization and the relations among them. They divide the work into distinct activities and then into individual jobs. They select people to manage these activities and perform the jobs. And they often need to make the people responsible for performing individual jobs form effective teams. 3. The founders of a business usually establish a «mission statement» - a declaration about what the business is and what it will be in the future. The business's central values and objectives will follow from this. But because the business environment is always changing, companies will occasionally have to modify or change their objectives. It is part of top management's role to balance today's objectives and needs against those of the future, and to take responsibility for innovation. 4. Efficient managers are good at communication and motivation. They need to communicate the organization's objectives to the people responsible for attaining them. They motivate their staff to work well, to be productive, and to contribute something to the organization. They make decisions about pay and promotion. 5. Managers are also responsible for measuring the performance of their staff, and ensuring that the objectives and performance targets set for the whole organization and for individual employees are reached. Furthermore, they have to train and develop their staff, so that their performance continues to improve. 6. Top managers also have to manage a business's social responsibilities and its impact on the environment. They should establish and maintain good relations with customers, major suppliers, bankers, government agencies, and so on. 7. Successful performance of these tasks requires many different qualities and skills, such as being flexible, creative, knowledgeable, having good communication and leadership skills and many others. 8. Educated managers should be aware of modern management theory, e. g., Just In Time, Team-working, Total Quality Management (TQM), Learning organizations. 9. The Team-working theory states that by encouraging employees to work in very fluid teams, responsibility is shared. Employees and managers at all levels develop a better self-identity and work becomes more interesting and productive.