Introduction to MANAGEMENT INTRODUCTION Management

Transcript:Introduction to MANAGEMENT INTRODUCTION Management:
Introduction to MANAGEMENT INTRODUCTION Management is essential for the conduct of any activity in an orderly manner. It is a vital function concerned with all aspects of working of an enterprise In the present dynamic business world, survival, stability and prosperity of business units depends on their efficient management. Management implies rational thinking, accurate planning, orderly execution of the plan, effective coordination of operations and control. Concept of Management An individual or group of people who accept responsibility to run an organisation and direct its activities are called “MANAGEMENT” It is a force that unifies human as well as non- human resources in the service of organisational goals. It is concerned with the attainment of objectives through the efforts of other people. The application of management is not confined to business alone. Even non-profit organisations like educational institutions, hospitals, charitable organisations etc. also use management. It brings together basis resources popularly known as 6 M’s Men, Material, Machines, Methods, Money and Market Features of Management 1. Management is a process Its is a process and not a body of individuals. Those who perform this process are called managers MGMT process involves planning , organising , directing and unifying human efforts for the accomplishment of a given tasks. The process continues as long as the enterprise is operating in the business world. Recourses Process Objectives 2. Management is a social process: It takes place through people. The importance of human factor in management cannot be ignored. A manager’s job is to get the things done with the support and cooperation of subordinates. Business Managed by People on People for a group of people 3. Management is action – based It is always for achieving certain objectives in terms of sales, profit etc. It is a result oriented concept. It gives importance to actual performance. 4. Management involves achieving results through efforts of others: It is an art of getting things done through others. Managers are expected to guide and motivate subordinates and get the expected to guide and motivate subordinates & get the expected performance from them. It acts as an activating factor. 5. Management is a group activity: It is not an isolated individual activity. It aims at using group efforts for achieving objectives. Managers manage the groups & coordinate the activities of groups functioning in an organisation. 6) Management is intangible – Its is not directly visible but its