UNIT: 1ST
FUNCTIONS OF MANAGEMENT
CONTENT:
• Definition Of Management
• Objectives Of Management
• Levels Of Management
• Functions Of Management
• Management As Science as Well as Art
• Management As Profession
• Coordination And It’s Importance
• Difference Between Management and Administration
>>>
, Management is the process of planning, organizing, leading, and controlling
an organization’s resources — including human, financial, physical, and
informational — in order to achieve specific objectives efficiently and
effectively. It involves setting clear goals, developing strategies to reach
them, coordinating activities, assigning responsibilities, making decisions,
and monitoring performance to ensure that the desired outcomes are
achieved.
According to Peter Drucker, “management is a multi-purpose organ that
manages a business, manages managers, manages workers and work”.
OBJECTIVES OF MANAGEMENT
1. Achieving Maximum Results
Management aims to get the best possible output by using resources like
time, money, manpower, and materials in the most efficient way. The goal is
to achieve high performance with minimum waste.
2. Achieving Growth and Expansion
An important objective of management is to ensure the growth of the
business by increasing sales, profits, customer base, and market presence.
This includes expanding into new markets, launching new products, or
increasing production capacity.
3. Maximum Prosperity
Management works to ensure the well-being of both the business and its
employees. This means increasing profits for the organization while also
providing fair wages, job satisfaction, and career development for workers.
FUNCTIONS OF MANAGEMENT
CONTENT:
• Definition Of Management
• Objectives Of Management
• Levels Of Management
• Functions Of Management
• Management As Science as Well as Art
• Management As Profession
• Coordination And It’s Importance
• Difference Between Management and Administration
>>>
, Management is the process of planning, organizing, leading, and controlling
an organization’s resources — including human, financial, physical, and
informational — in order to achieve specific objectives efficiently and
effectively. It involves setting clear goals, developing strategies to reach
them, coordinating activities, assigning responsibilities, making decisions,
and monitoring performance to ensure that the desired outcomes are
achieved.
According to Peter Drucker, “management is a multi-purpose organ that
manages a business, manages managers, manages workers and work”.
OBJECTIVES OF MANAGEMENT
1. Achieving Maximum Results
Management aims to get the best possible output by using resources like
time, money, manpower, and materials in the most efficient way. The goal is
to achieve high performance with minimum waste.
2. Achieving Growth and Expansion
An important objective of management is to ensure the growth of the
business by increasing sales, profits, customer base, and market presence.
This includes expanding into new markets, launching new products, or
increasing production capacity.
3. Maximum Prosperity
Management works to ensure the well-being of both the business and its
employees. This means increasing profits for the organization while also
providing fair wages, job satisfaction, and career development for workers.
