Nature and Significance of
Management
Management is a process of
Meaning of Management getting things done through
others effectively and efficiently.
Efficiency – It means doin
Process – Management is a
Effectiveness – Being effective task correctively and w
process as in it, a series of
means finishing the given task or minimum cost. It insists on
functions are performed like
achieving the goals, irrespective of more output with minim
planning, organizing, staffing,
the fact how they are achieved. resources viz. money, mat
directing and controlling.
personnel and equipme
,Difference b/w Effectiveness &
Efficiency
Basis Effectiveness Efficiency
1. Meaning It refers to achieving the goals on It refers to doing the task corre
time. and at minimum cost.
2. Focus It focuses on end result of the task. It focuses on Cost benefit anal
i.e. getting maximum benefit w
minimum cost.
3. Concern Concerned with doing the right Concerned with cost.
task.
, Characteristics / Features of
Management
• Management is a goal – oriented process
• Management is all pervasive
• Continuous process
• Group activity
• Management is a dynamic function
• An Intangible Force
Management
Management is a process of
Meaning of Management getting things done through
others effectively and efficiently.
Efficiency – It means doin
Process – Management is a
Effectiveness – Being effective task correctively and w
process as in it, a series of
means finishing the given task or minimum cost. It insists on
functions are performed like
achieving the goals, irrespective of more output with minim
planning, organizing, staffing,
the fact how they are achieved. resources viz. money, mat
directing and controlling.
personnel and equipme
,Difference b/w Effectiveness &
Efficiency
Basis Effectiveness Efficiency
1. Meaning It refers to achieving the goals on It refers to doing the task corre
time. and at minimum cost.
2. Focus It focuses on end result of the task. It focuses on Cost benefit anal
i.e. getting maximum benefit w
minimum cost.
3. Concern Concerned with doing the right Concerned with cost.
task.
, Characteristics / Features of
Management
• Management is a goal – oriented process
• Management is all pervasive
• Continuous process
• Group activity
• Management is a dynamic function
• An Intangible Force
