The full form of Mgmt is Management. It’s used on Business ,Business Terms in Worldwide

Management (or managing) is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources.

Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. “Run the business” and “Change the business” are two concepts that are used in management to differentiate between the continued delivery of goods or services and adapting of goods or services to meet the changing needs of customers – see trend. The term “management” may also refer to those people who manage an organization—managers.

Management is essential for an organized life and necessary to run all types of management. Good management is the backbone of successful organizations. Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives.

Management is a set of principles relating to the functions of planning, organizing, directing and controlling, and the application of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals.

To be an effective manager, you’ll need to develop a set of skills, including planning, communication, organization and leadership. You will also need extensive knowledge of the company’s goals and how to direct employees, sales and other operations to accomplish them.