The document defines an operating system as a set of programs that manage computer hardware resources and provide common services for application software. It is the most important program that runs on a computer and allows other programs to interact with hardware by following rules programmed into the OS. Key functions of an OS include managing memory, enabling multitasking, providing disk access/file systems, supporting device drivers, networking, security features, and graphical user interfaces. Popular examples of operating systems mentioned are Windows, Linux, Android, and Mac OS X.