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Chapter 1 Introduction To Management

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Pooja Mehta
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195 views

Chapter 1 Introduction To Management

Uploaded by

Pooja Mehta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Chapter 1

Introduction to Management
Content
 Introduction
 Concept of Management
 Characteristics of Management
 Importance of Management
 Functions of Management
 Essence of Managership
Introduction
 The concept of management is as old as human
civilization.
 It is universal and is useful and essential to all types of
business organization, irrespective of their size, area,
scale of operations and nature of ownership.
 According to the modern management thinkers,
management is a process of integrating 6 “M”s Men,
Material, Machines, Methods, Money and Markets.
Concept of Management
 “ Management is knowing exactly what you want men
to do and then seeing that they do it in the best and
cheapest way”.
- Fredrick Winslow Taylor
 “ Management is distinct process consisting of
planning, organizing, actuating and controlling,
performance to determine and accomplish stated goals
by the use of human beings and other resources.
- George Terry
Characteristics of Management
a. Management is an integrated process.
b. Management is an universal process.
c. Management is a group activity.
Micro level
Macro level
d. Management is goal oriented.
e. Management is a dynamic process.
f. Management is a social process.
Cont….
g. Management is intangible.
h. Management is art, science and profession.
i. Management is irreplaceable.
j. Management is based on certain principles.
k. Management is multi-disciplinary.
Importance of Management
a. Achieving group goals.
b. Minimizes wastage.
c. Optimum utilization of resources.
d. Leadership and motivation.
e. Initiative and innovation.
f. Establishes equilibrium.
g. Industrial peace.
Cont…
h. Builds competitive strength.
i. Improves standard of living.
j. Growth, expansion and diversification.
k. Social consciousness.
Functions of Management
Henri Fayol was the first person to identify functions of
management in the year 1916, which he labelled: planning,
organizing, commanding, coordinating and controlling.
Cont…..
In 1930, Luther Gulick stated seven functions of manager under
the catch word “POSDCORB”.
Essence of Managership
A good manager is expected to have certain basic
skills, which are the essence of managership.
“ Managerial skills means the skills or qualities
desired in managers, the possession of which enable
them to act better as practizing managers.”
According to Prof. Daniel Katz
 To manage an organization, one needs to have the
following skills
a. Technical skill
b. Human skill
c. Conceptual skill
d. Communication skill
e. Administrative skill
f. Leadership skill
Cont….
g. Problem- solving skill
h. Decision making skill
i. Team building skill
j. Change management skill
k. Conflict resolving skill

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