Stee Studies
MODULE – 01
MANAGEMENT AND PLANNING
Definition of management:
Management is a function of guidance and leadership control of efforts of a group or
individuals in order to achieve goals/objectives of an organization. Simplest definition is
that it is defined as the art of getting things donethrough people. Management can also
be defined as the process consisting of planning, organizing, actuating, and controlling
performed to determine and accomplish the use of people and resources. Putting
together 4Ms- Money, Men, Material, and Machines together is management.
Management is the life giving element of an organization.
Management is the creative process which integrates and utilizes various available
resources effectively and efficiently to accomplish the goal of an organization. The
person who is responsible to develop the ideas to plan and to get things done through the
workers is titled as “Manager”. A manager is one who contributes to the organizational
goals indirectly bydirecting the efforts by others not performing the task by him.
A person who is makes his contribution to the organizational goals directly by
performing the task by himself is the worker. Before the industrial revolution, there were
no manufacturing industries. There were few individuals who were carrying out the
production of the commodities. This was mostly family oriented and head of the family
was managing the business. During the half of 18th century, industrial revolution had
started and factory systems had evolved. Then on, management became necessary.
MEANING
Managing is one of the most important activities of human life. To accomplish aims that
could not be achieved individually, people started forming groups. Managing has become
essential to ensure the coordination of individual efforts. Management applies to all kinds of
organizations and to managers at all organizational levels. Principles of management are
now used not only for managing business but in all walks of life viz., government, military,
Page 1
,Stee Studies
social and educational institutions. Essentially, management is same process in all forms
of organization. But it may vary widely in its complexity with size and level of
organization. Management is the life giving element of any organization.
Definitions suggested by some of the management experts are presented below:
Henri Fayol: "Management is conduct of affairs of business, moving towards its
objective through a continuous process of improvement and optimization of resources".
Koontz: "Management is the process of designing and maintaining an environment in
which individuals, working together in groups, efficiently accomplish selected
aims".
Mary Parker Follett: "Management is the art of getting things done through people".
George R. Terry: "Management is a process consisting of planning, organizing, actuating
and controlling, performed to determine and accomplish the objectives by use of people
and resources".
ILO: "Management is the complex of continuously coordinated activity by means of
which any undertaking administration/public or private service conducts its
business".
Lawrence A. Appley: "Management is guiding human and physical resources into a
dynamic, hard hitting organization until that attains its objectives to the satisfaction
of those served and with a high degree of moraleand sense of attainment on the part
of those rendering the service".
The Need/Importance of management
The need and importance of the management for any type of organisation is discussed below
1. Optimum utilization of resources
Management brings all the available resources together. All these available resources are
important for achieving the objectives of the organization which are:
Men,
Money,
Machines,
Methods,
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, Stee Studies
Optimum (best)
Utilization (use)
2. Expansion and diversification
Management helps the organization to achieve its objectives efficiently,
systematically, easily and quickly. It helps the organization to face the cut- throat
competition to grow, expand and diversify.
3. Reduction of employers absenteeism and turnover
Management motivates people. It provides different incentives to the employees. This
includes positive, negative, monetary and non-financial incentives. These incentives
increase the willingness and efficiency of the employees. This increases the
productivity and profitability of the organization. Management also develops team spirit
and increases the efficiency within theorganization. It in addition reduces labor turnover
and absenteeism.
4. utilizes the benefits of science and technology
Man has made rapid progress within the field of Science and Technology.
Management utilizes the benefits of this progress. It provides industries with the latest
machines. It provides the consumers with the newest products.
5. Encourages initiative and innovation
Management spurs initiative. This means it initiative the employees to make their
own plans and to execute these plans. It inspires the employees to give their
suggestions. Initiative gives satisfaction to the laborers and success to theorganization.
Management in addition encourages innovation. It brings innovative ideas, modern
methods, and latest techniques to the organization.
6. Minimizes wastages
Management minimizes the wastages of human, waste materials and monetary
resources. Work is done through arrangement, proper manufacturing and Control.
Managers motivate subordinate to reduce wastages. Reduction in wastage's brings a
higher return to firm.
7. Team work
Management always builds a team spirit in the organization. The combine effortof
work and unity lead to the prosperity within the organization. Team work plays an
important part in the success of organization.
8. Motivation
Management motivates employees by sharing their profits by the mean of bonus.
Page 3
MODULE – 01
MANAGEMENT AND PLANNING
Definition of management:
Management is a function of guidance and leadership control of efforts of a group or
individuals in order to achieve goals/objectives of an organization. Simplest definition is
that it is defined as the art of getting things donethrough people. Management can also
be defined as the process consisting of planning, organizing, actuating, and controlling
performed to determine and accomplish the use of people and resources. Putting
together 4Ms- Money, Men, Material, and Machines together is management.
Management is the life giving element of an organization.
Management is the creative process which integrates and utilizes various available
resources effectively and efficiently to accomplish the goal of an organization. The
person who is responsible to develop the ideas to plan and to get things done through the
workers is titled as “Manager”. A manager is one who contributes to the organizational
goals indirectly bydirecting the efforts by others not performing the task by him.
A person who is makes his contribution to the organizational goals directly by
performing the task by himself is the worker. Before the industrial revolution, there were
no manufacturing industries. There were few individuals who were carrying out the
production of the commodities. This was mostly family oriented and head of the family
was managing the business. During the half of 18th century, industrial revolution had
started and factory systems had evolved. Then on, management became necessary.
MEANING
Managing is one of the most important activities of human life. To accomplish aims that
could not be achieved individually, people started forming groups. Managing has become
essential to ensure the coordination of individual efforts. Management applies to all kinds of
organizations and to managers at all organizational levels. Principles of management are
now used not only for managing business but in all walks of life viz., government, military,
Page 1
,Stee Studies
social and educational institutions. Essentially, management is same process in all forms
of organization. But it may vary widely in its complexity with size and level of
organization. Management is the life giving element of any organization.
Definitions suggested by some of the management experts are presented below:
Henri Fayol: "Management is conduct of affairs of business, moving towards its
objective through a continuous process of improvement and optimization of resources".
Koontz: "Management is the process of designing and maintaining an environment in
which individuals, working together in groups, efficiently accomplish selected
aims".
Mary Parker Follett: "Management is the art of getting things done through people".
George R. Terry: "Management is a process consisting of planning, organizing, actuating
and controlling, performed to determine and accomplish the objectives by use of people
and resources".
ILO: "Management is the complex of continuously coordinated activity by means of
which any undertaking administration/public or private service conducts its
business".
Lawrence A. Appley: "Management is guiding human and physical resources into a
dynamic, hard hitting organization until that attains its objectives to the satisfaction
of those served and with a high degree of moraleand sense of attainment on the part
of those rendering the service".
The Need/Importance of management
The need and importance of the management for any type of organisation is discussed below
1. Optimum utilization of resources
Management brings all the available resources together. All these available resources are
important for achieving the objectives of the organization which are:
Men,
Money,
Machines,
Methods,
Page 2
, Stee Studies
Optimum (best)
Utilization (use)
2. Expansion and diversification
Management helps the organization to achieve its objectives efficiently,
systematically, easily and quickly. It helps the organization to face the cut- throat
competition to grow, expand and diversify.
3. Reduction of employers absenteeism and turnover
Management motivates people. It provides different incentives to the employees. This
includes positive, negative, monetary and non-financial incentives. These incentives
increase the willingness and efficiency of the employees. This increases the
productivity and profitability of the organization. Management also develops team spirit
and increases the efficiency within theorganization. It in addition reduces labor turnover
and absenteeism.
4. utilizes the benefits of science and technology
Man has made rapid progress within the field of Science and Technology.
Management utilizes the benefits of this progress. It provides industries with the latest
machines. It provides the consumers with the newest products.
5. Encourages initiative and innovation
Management spurs initiative. This means it initiative the employees to make their
own plans and to execute these plans. It inspires the employees to give their
suggestions. Initiative gives satisfaction to the laborers and success to theorganization.
Management in addition encourages innovation. It brings innovative ideas, modern
methods, and latest techniques to the organization.
6. Minimizes wastages
Management minimizes the wastages of human, waste materials and monetary
resources. Work is done through arrangement, proper manufacturing and Control.
Managers motivate subordinate to reduce wastages. Reduction in wastage's brings a
higher return to firm.
7. Team work
Management always builds a team spirit in the organization. The combine effortof
work and unity lead to the prosperity within the organization. Team work plays an
important part in the success of organization.
8. Motivation
Management motivates employees by sharing their profits by the mean of bonus.
Page 3
