Unit 1

Characteristics of Management #

A) Goal Oriented.
B) Pervasive.
C) Multidimentional:
         (i) Management of People.
         (ii) Management of Operations.
D) Continuous.
E) Dynamic.
F) Group Activity.
G) Intangible.

Functions of Management #

A) Planning.
B) Organising.
C) Staffing.
D) Directing.
E) Controlling.

A) Planning #

1. Determine the goals or mission of the organisation.
2. Forecast future conditions.
3. Select the best course of action.
4. Formulate policies, procedures, budgets.

B) Organising #

1. Identify and analyse activities required to be operated on.
2. Group similar activities.
3. Assign duties to individuals.
4. Delegate authority and responsibility to the individuals in managerial roles.
5. Establish and announce clear authority relationships to ensure coordination and control.

C) Staffing #

1. Recruitment and selection.
2. Training.
3. Performance appraisal.

D) Directing #

1. Leadership and supervision.
2. Motivation.
3. Communication.

E) Controlling #

1. Establish performance standards.
2. Measure performance.
3. Compare performance with the standards.
4. Identify reasons for deviations.
5. Implement corrective actions.
6. Use feedback to evaluate performance improvement.

Significance of Management #

A) Optimum unilization of resources.
B) Minimisation of costs.
C) Achievement of group goals.
D) Organisational stability.

• Management depends on Effectiveness and Efficiency.

Scope of Management #

A) Production Management.
B) Personal Management.
C) Marketing Management.
D) Financial Management.