Management

Management is art of getting things done through and with the people in formally organized groups. The basic functions performed by a manager in an organization are: Planning, controlling, staffing, organizing, and directing.

• The activity of getting things done with the help of people & resources.
• Effective utilization of resources to achieve defined objectives with maximum efficiency.
• The process of setting and achieving goals through the execution of basic management functions: planning, organizing, staffing, directing, coordinating and controlling; that utilize human, financial, and material resources.

Management means to get the things done in the right way by the right people at the right time.

or  

Management is a process where the human beings gather in an environment to achieve the common goals effectively and efficiently.

Information

Information is considered as valuable component of an organization. Information is data that is processed and is presented in a form which assists decision maker. Processed data is information.

System

A system is defined as a set of elements which are joined together to achieve a common objective. The elements are interrelated and interdependent. Thus every system is said to be composed of subsystems. A system has one or multiple inputs, these inputs are processed through a transformation process to convert these input( s) to output.

A system is an organized, interacting, interdependent and integrated set of components.

Major components in every system

• Input
• Processor
• Output
• Feedback
• Control