Lesson-1
INTRODUCTION, MEANING AND IMPORTANCE
OF MANAGEMENT
1.0 Objectives :
The objectives of this lesson are:
¨ To know the concept and meaning of management.
¨ To understand about basic nature of management.
¨ To get knowledge of overall importance of management.
¨ To understand the difference between management and administration.
¨ To learn about the application of management principles.
Structure :
1.1 Introduction
1.2 Meaning and Definitions of Management
1.3 Characteristic of Management
1.4 Significance of Management
1.5 Importance of Management
1.6 Management Vs Administration
1.7 Managerial skills
1.8 Managerial Roles
1.9 Universality of Management
1.10 The Management challenges
1.11 Summary
1.12 Key words
1.13 Self Assessment Questions
1.14 Further Readings
, Centre for Distance Education 1.2 Acharya Nagarjuna University
1.1 Introduction :
Management is universal in the modern industrial world and there is no substitute for good
management. It makes human effects more productive and brings better technology, products
and services to our society. It is a crucial economic resource and a life giving element in business.
Without proper management, the resources of production ( men, machines and materials,
money ) can not be converted into production. Thus management is a vital function concerned
with all aspects of the working of an organization.
Management is a must to accomplish desired goals through group action. It is essential to
convert the disorganized resources of men, machines, materials and methods into a useful and
effective enterprise.
Thus management is the function of getting things done through people and directing the
efforts of individuals towards a common objective.
1.2 Meaning and Definitions of Management :
Management is the art of maximizing efficiency, as a social process, a method of getting
things done through others a plan of action and its direction by a co-operative group moving towards
a common goal. Effective utilisation of available resources to achieve same objective is
management.
Management is a comprehensive function of Planning, Organising, Forecasting Co-
ordinating, Leading, Controlling, Motivating the efforts of others to achieve specific objectives.
Management can precisely be called the rule – making and rule – enforcing body.
Definitions :
According to Harold Koontz “ Management is the art of getting things done through and
with formally organized groups “.
According to Peter F. Drucker. “ A Multipurpose organ that manages a business and
manages managers and manages workers and works “.
According to J.Lundy “ Management is what management does. It is the task of planning
executing and controlling “.
According to Lawrence Appley “ Management is the development of people and not the
direction of things “.
, Principles of Management 1.3 Introduction, Meaning and .....
According to F.W. Tylor “ Management is the art of knowing what you want to do in the best
and cheapest way “.
Meaning of Management
Management It is an art it is the art Deep co-ordination
is what of taking and science of of human resources
A manager work done decision making and and factors of
does through others leader ship production
Fig 1.1
Fig 1.2
, Centre for Distance Education 1.4 Acharya Nagarjuna University
In nut shell it can be said that management as such is a science of managing men,
machines, money materials and methods. It embrasses all duties and functions that pertains to
the initiation of an enterprise, its financing, the establishment of all major policies the provisions of
all necessary equipment, the entailing of general form of orgauisation, under which enterprise is to
operate and the selection of the principal officers.
1.3 Characteristics of Management :
1.3.1 Management is a group activity :
It is a group activity. Nobody can satisfy all his desires himself. Therefore he unites which
his fellow- beings and works in an organized group to achieve what he cannot achieve individually.
Massie has rightly called management as a “ Co-operative group “.
1.3.2 Management is Goal - oriented :
According to Theo Haiman “ Effective management is always management by objectives."
Group efforts are directed towards the achievements of some predetermined goals. Mangement
is concerned with establishment and accomplishment of these objectives.
1.3.3 Management is a factor of Production :
Management is not an end in itself. It is a means to achieve the group objectives. It is a
factor of production that is required the co-ordinate with the other factors of production for the
accomplishment of predetermined goals and objectives.
1.3.4 It is a Universal Character :
Management is essential in all types of concerns. It somewhere there is some human
activity, management is must there. The basic principles of management are universal. These
can be applied in all types of concerns i.e. business, social, religious, cultural, sports, educational
a International technology.
1.3.5 Management is needed at all levels of the enterprise :
On the basis of the nature of work or target and the scope of authority, management is
needed at all levels of the organisations e.g., top level, middle level and supervisor level.
1.3.6 It is a distinct function :
Management is a distinct function performed to fix and achieve stated objectives by the
use of manpower and other factors of production. Different from the activities, techniques and
procedures, the process of management consists of such functions as planning, organizing,
staffing, directing, coordinating, motivating and controlling.
1.3.7 It is a Social Process :
Management is taken as a social process. It has a social responsibility to make reasonable
use of scarce resources keeping in view the benefit of the community as a whole.
1.3.8 System of Authority :
INTRODUCTION, MEANING AND IMPORTANCE
OF MANAGEMENT
1.0 Objectives :
The objectives of this lesson are:
¨ To know the concept and meaning of management.
¨ To understand about basic nature of management.
¨ To get knowledge of overall importance of management.
¨ To understand the difference between management and administration.
¨ To learn about the application of management principles.
Structure :
1.1 Introduction
1.2 Meaning and Definitions of Management
1.3 Characteristic of Management
1.4 Significance of Management
1.5 Importance of Management
1.6 Management Vs Administration
1.7 Managerial skills
1.8 Managerial Roles
1.9 Universality of Management
1.10 The Management challenges
1.11 Summary
1.12 Key words
1.13 Self Assessment Questions
1.14 Further Readings
, Centre for Distance Education 1.2 Acharya Nagarjuna University
1.1 Introduction :
Management is universal in the modern industrial world and there is no substitute for good
management. It makes human effects more productive and brings better technology, products
and services to our society. It is a crucial economic resource and a life giving element in business.
Without proper management, the resources of production ( men, machines and materials,
money ) can not be converted into production. Thus management is a vital function concerned
with all aspects of the working of an organization.
Management is a must to accomplish desired goals through group action. It is essential to
convert the disorganized resources of men, machines, materials and methods into a useful and
effective enterprise.
Thus management is the function of getting things done through people and directing the
efforts of individuals towards a common objective.
1.2 Meaning and Definitions of Management :
Management is the art of maximizing efficiency, as a social process, a method of getting
things done through others a plan of action and its direction by a co-operative group moving towards
a common goal. Effective utilisation of available resources to achieve same objective is
management.
Management is a comprehensive function of Planning, Organising, Forecasting Co-
ordinating, Leading, Controlling, Motivating the efforts of others to achieve specific objectives.
Management can precisely be called the rule – making and rule – enforcing body.
Definitions :
According to Harold Koontz “ Management is the art of getting things done through and
with formally organized groups “.
According to Peter F. Drucker. “ A Multipurpose organ that manages a business and
manages managers and manages workers and works “.
According to J.Lundy “ Management is what management does. It is the task of planning
executing and controlling “.
According to Lawrence Appley “ Management is the development of people and not the
direction of things “.
, Principles of Management 1.3 Introduction, Meaning and .....
According to F.W. Tylor “ Management is the art of knowing what you want to do in the best
and cheapest way “.
Meaning of Management
Management It is an art it is the art Deep co-ordination
is what of taking and science of of human resources
A manager work done decision making and and factors of
does through others leader ship production
Fig 1.1
Fig 1.2
, Centre for Distance Education 1.4 Acharya Nagarjuna University
In nut shell it can be said that management as such is a science of managing men,
machines, money materials and methods. It embrasses all duties and functions that pertains to
the initiation of an enterprise, its financing, the establishment of all major policies the provisions of
all necessary equipment, the entailing of general form of orgauisation, under which enterprise is to
operate and the selection of the principal officers.
1.3 Characteristics of Management :
1.3.1 Management is a group activity :
It is a group activity. Nobody can satisfy all his desires himself. Therefore he unites which
his fellow- beings and works in an organized group to achieve what he cannot achieve individually.
Massie has rightly called management as a “ Co-operative group “.
1.3.2 Management is Goal - oriented :
According to Theo Haiman “ Effective management is always management by objectives."
Group efforts are directed towards the achievements of some predetermined goals. Mangement
is concerned with establishment and accomplishment of these objectives.
1.3.3 Management is a factor of Production :
Management is not an end in itself. It is a means to achieve the group objectives. It is a
factor of production that is required the co-ordinate with the other factors of production for the
accomplishment of predetermined goals and objectives.
1.3.4 It is a Universal Character :
Management is essential in all types of concerns. It somewhere there is some human
activity, management is must there. The basic principles of management are universal. These
can be applied in all types of concerns i.e. business, social, religious, cultural, sports, educational
a International technology.
1.3.5 Management is needed at all levels of the enterprise :
On the basis of the nature of work or target and the scope of authority, management is
needed at all levels of the organisations e.g., top level, middle level and supervisor level.
1.3.6 It is a distinct function :
Management is a distinct function performed to fix and achieve stated objectives by the
use of manpower and other factors of production. Different from the activities, techniques and
procedures, the process of management consists of such functions as planning, organizing,
staffing, directing, coordinating, motivating and controlling.
1.3.7 It is a Social Process :
Management is taken as a social process. It has a social responsibility to make reasonable
use of scarce resources keeping in view the benefit of the community as a whole.
1.3.8 System of Authority :
