The field of Management is vast in knowledge and continuously expanding. The relevance of management has been widely appreciated; and the management methods, strategies and techniques have gained applicability in various working spaces. Management, as a subject, is being taught at different levels with varying intensity. The functional framework remains the bedrock on which the management discipline is built. The Principles and Practice of Management is evolving with new approaches and ideas. Text books on Management have always been on demand among the student community. The book in the present form is a product of long years of experience of the authors in the field of management. It is designed to revisit the classical literatures and research the rich content with new perspectives. To enhance the learning experience of the readers, the basic management concepts have been lucidly explained, suitable illustrations have been given at appropriate places and relevant native classical thoughts have been extracted from Tirukural, Naaladiyar, Pazhamozhi 400, Aranerichcharam, Achara Kovai, Nanmanikadigai, etc. The classical literature is written in Tamil and the explanation is given in English below the same. The authors have drawn inferences and ideas from wideranging sources which have been duly acknowledged at the end of each chapter.