Management is the organization and coordination of the activities of a business in order to achieve defined objectives.Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.