Management Keywords and Brief Notes
Management
- Deliberate process
- Group Activity
- Activity for achievement of goals
- Concerned with making efficient use of resources
Effectiveness
- Doing the right task
- Completion of task/achieving the end result
Efficiency
- Doing the task right way/correctly
- At minimum cost i.e. Less input more output/less input same output/same input more output.
Input Resources:
- Men, Money, Material, Machinery etc.
Features of Management
- Goal Oriented Process
- All Pervasive
- Multidimensional
- Continuous Process
- Group Activity
- Dynamic Function
- Tangible Force.
Importance of Management
- Achieving Group Goals
- Dynamic Organisation
- Achieving Personal Objectives
- Increases efficiency
- Helps in Development of Society
Nature of Management:
- Art or Science or Profession
Management as an Art
- Based on practice and Creativity
- Personalised Application
- Existence of Theoretical knowledge
Management as Science
- Universal validity
- Systematic Body of knowledge
- Principles based on Experimentation
Management as Profession
- Well-defined body of knowledge
- Restricted entry
- Professional association
- Ethical code of conduct
- Service motive
Management Keywords and Brief Notes
Levels of Management (also called as):
- Managerial levels
- Management Hierarchy
- Step-ladder system of management
Levels of Management:
- Top level
- Middle level
- Lower level/Operational level/Supervisory level
First Line Managers Are:
- lower level managers.
Functions of Management:
- Planning
- Organising
- Staffing
- Directing
- Controlling
Co-Ordination
- Synchronization/Common thread/Integration of efforts/Binding force
Characteristics of Coordination
- Integrates group efforts
- Ensures unity of action
- Continuous process
- Pervasive function
- Responsibility of all managers
- Deliberate function
Principles of Management Keywords and Brief Notes