WELCOME TO SCHOOL OF BUSINESS
PRINCIPLE OF MANAGEMENT
(Business & Management Notes)
: Introduction to Management
Definition of Management
Management refers to the process of planning, organizing, leading, and controlling an
organization’s resources to achieve specific goals effectively and efficiently.
It involves making decisions, coordinating efforts, and guiding people toward common
objectives.
Importance of Management
1. Ensures efficient use of resources.
2. Helps in achieving organizational goals.
3. Improves teamwork and communication.
, 4. Promotes innovation and growth.
5. Provides direction and control within the organization.
Levels of Management
1. Top-Level Management: Executives who make strategic decisions (e.g., CEO, Managing
Director).
2. Middle-Level Management: Department heads and managers who implement plans.
3. Lower-Level Management: Supervisors and team leaders who oversee day-to-day activities.
Page 2: Functions of Management
According to Henri Fayol, the main functions of management include:
PRINCIPLE OF MANAGEMENT
(Business & Management Notes)
: Introduction to Management
Definition of Management
Management refers to the process of planning, organizing, leading, and controlling an
organization’s resources to achieve specific goals effectively and efficiently.
It involves making decisions, coordinating efforts, and guiding people toward common
objectives.
Importance of Management
1. Ensures efficient use of resources.
2. Helps in achieving organizational goals.
3. Improves teamwork and communication.
, 4. Promotes innovation and growth.
5. Provides direction and control within the organization.
Levels of Management
1. Top-Level Management: Executives who make strategic decisions (e.g., CEO, Managing
Director).
2. Middle-Level Management: Department heads and managers who implement plans.
3. Lower-Level Management: Supervisors and team leaders who oversee day-to-day activities.
Page 2: Functions of Management
According to Henri Fayol, the main functions of management include:
