Management involves strategic planning, setting objectives, allocating resources, and measuring results. The four main functions of management are planning, organizing, leading, and controlling. Planning involves setting objectives and determining how to achieve them. Organizing involves developing an organizational structure and allocating human resources. Leading involves inspiring others to work towards objectives. Controlling ensures performance meets standards and takes corrective actions when needed. Management occurs at three levels - top level sets long term goals, middle level focuses on tactical planning, and lower level oversees day-to-day operations.