The article is devoted to generalization of views on the essence of management in modern economic conditions. The article presents various views on the content of this phenomenon. The author analyzes the essence of management through the prism of considering definitions by transforming historical views and approaches of modern researchers. The key features of modern management are considered, in particular: a rational combination of the market and government regulation; constant adjustment of the organization's goals; the important role of organizational culture; decentralized management structures; social responsibility to employees and society, etc. The economic, legal, socio-psychological, organizational, and technical aspects of management are also considered. Attention is paid to the laws of organization functioning (law of composition; law of proportionality; law of least; law of ontogeny) and the laws of organization development (law of synergy; law of self-preservation; law of awareness-order; law of unity of analysis and synthesis). The key principles of management are considered both in the historical context and in the modern economic environment. In particular, it is noted that for the formation, functioning and development of an organization, it is necessary to adhere to the basic principles of management: resistance to changes in the environment of the organization's functioning; cost-effectiveness of management; the main vector of management actions is the priority of the consumer and ensuring the long-term development of the organization. The author also describes the functionality of management, primarily through the implementation of general functions according to the formula 4 (planning, motivation, organization, control) + 2 (coordination and regulation) and specific functions (management of finance, personnel, trade and technological processes, labor and wage management, inventory management, etc.) Attention is also paid to the main methods of management. The expediency of a critical rethinking of the existing management principles is considered.