Grade 12 Business Studies - Chapter 1 Notes
Meaning of Management
Management is the process of getting things done with the aim of achieving goals effectively and efficiently.
- Effectiveness: Completing tasks on time, focusing on end results.
- Efficiency: Completing tasks with minimum resources, time, and cost.
Features of Management
1. Goal-Oriented
2. Pervasive
3. Multidimensional
4. Continuous Process
5. Group Activity
6. Dynamic Function
7. Intangible Force
Objectives of Management
1. Organizational Objectives: Profit, growth, survival, innovation.
2. Social Objectives: Environment protection, fair wages, community development.
3. Personal Objectives: Growth, development, and satisfaction of employees.
Importance of Management
1. Achieves Group Goals
2. Increases Efficiency
3. Creates a Dynamic Organization
4. Helps in Achieving Personal Objectives
5. Helps in Development of Society
Management as an Art, Science & Profession
As an Art: Personal skills, creativity, experience-based.
Meaning of Management
Management is the process of getting things done with the aim of achieving goals effectively and efficiently.
- Effectiveness: Completing tasks on time, focusing on end results.
- Efficiency: Completing tasks with minimum resources, time, and cost.
Features of Management
1. Goal-Oriented
2. Pervasive
3. Multidimensional
4. Continuous Process
5. Group Activity
6. Dynamic Function
7. Intangible Force
Objectives of Management
1. Organizational Objectives: Profit, growth, survival, innovation.
2. Social Objectives: Environment protection, fair wages, community development.
3. Personal Objectives: Growth, development, and satisfaction of employees.
Importance of Management
1. Achieves Group Goals
2. Increases Efficiency
3. Creates a Dynamic Organization
4. Helps in Achieving Personal Objectives
5. Helps in Development of Society
Management as an Art, Science & Profession
As an Art: Personal skills, creativity, experience-based.
