Principles Of Management

$ 4.03

by Dr. VARSHA ROKADE(Author),Dr. BABITA YADAV (Author)

ISBN Number :978 – 1- 73039 – 606 – 9

SKU: SBP_1567 Category:



Assistant Professor Department of Management Studies, Maulana Azad National Institute of Technology, Bhopal, Madhya Pradesh


Assistant Professor Department of Business Management Dr. Hari Singh Gour Vishwavidyalaya, Sagar, Madhya Pradesh

INTRODUCTION The conception of Management as a discipline has attracted the attention of academicians and practitioners to a large extent. Human beings are surrounded by organisations and organisations are important part of our life. An organisation is a group of people working together to achieve certain pre–determined goals. In order to accomplish the objectives, management is needed to plan, organise, coordinate and control the activities and affairs of the organisation. Therefore, the management is a very important role to play as it utilizes the resources like man, material, machine, method and money for the effective accomplishment of organisational results. MEANING & DEFINITIONS OF MANAGEMENT: Management is considered as the most crucial element in the success or failure of any business organisation. Management is a systematic and continuous process by which a co–operative group directs action towards a common goal. According to F.W.Taylor, â€�Management is knowing exactly what you want to do and then seeing that they do it in the beast and cheapest wayâ€�. In the words of Henry Fayol, â€�To manage is to forecast, to plan, to organise, to command, to co–ordinate and controlâ€�. In view of Terry, â€�Management is a distinct process consisting of planning, organising, controlling and utilizing resources effectively, in order to accomplish predetermined objective. In brief, management is mix of both sciences as well as an art. It follows scientific principles to accomplish the task and also require art of getting things done from others. According to the Peter Drucker, management is a multipurpose organ that manages managers, workers and business together to achieve the common goal. MANAGEMENT AS AN ART The role of management is becoming more and more difficult and challenging in the modern ever changing world. Management includes the activities of planning, organizing, direction, decision making, regulating and integration of all resources which requires special skill and art. Management is an art of getting things done through others in the words of Harold Koontz. Management enables a manager to get things done through employees. UNIT–1 CHAPTER–1 MANAGEMENT – NATURE, PROCESS & SIGNIFICANCE 7