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Management is a process which refers to various functions which a manager performs in an organization.

Levels of Management: Management has the following three levels. They are as given under:

Management is a social science. Hence, management is subject to certain limitation like other social sciences. The main important limitations are as follows:

Every human activity has its objective. Unless, the objective is well defined, the question of making necessary efforts to achieve it does not arise.

The concept of management is universal and very old. That is why different views have been expressed about its nature by different writers from time to time.

The concept of management is not fixed. It has changing according to time and circumstances. The concept of management has been used in integration and authority etc.

Management is a continuous, lively and fast developing science. Management is needed to convert the disorganized resources of men, machines, materials and methods into a useful and effective enterprise.

The Industrial Credit and Investment Corporation of India or ICICI was established on 5th January, 1955 to assist industrial units in the private sector. It was sponsored by the World Bank.

The Unit Trust of India or UTI was established on 1st February, 1964 under the Unit Trust of India Act, 1963 by the government of India.

The Industrial Development Bank of India or IDBI was established on 1st July, 1964 as an apex bank (the counterpart of Reserve Bank) in the field of industrial finance and capital market.

The Industrial Finance Corporation of India was established on 1st July, 1948 under the Industrial Finance Corporation Act, 1948 to provide financial assistance (medium and long-term) to large-scale industries all over the country.

In order to meet the financial requirements of small scale and medium-sized industries, there was a need of special financial institutions.

Finance is the life-blood of all business activities. Finance is needed not only for establishing a business enterprise, but it is also needed to keep it alive and also to see it growing.

Generally over-capitalization implies that the capital of the company exceeds its requirements. A company is overcapitalized when its earning capacity does not justify the amount of capitalization.

Generally under-capitalization denotes the inadequacy of capital; i.e., the shortage of capital. It is a condition when the real value of the company based on its earnings is more than the book value.