CH-1 Nature And significance of Managment BST

Functional differentiation

________- The functions of an organization is divided into departments and their objectives are also different.

Social Objectives

________- A business should conduct the activities to fulfill the expectations of the society.

Management

________ is a continuous process- which involves planning, organizing, staffing, directing and controlling.

chief executive

Chairman, managing directors, board of directors, ________ and general managers are regarded as top level management in a business organization.

entry

Restricted ________- Management requires formal education and training provided by formal institutions like Universities, Professional Organizations such as ICAI (Institute of Chartered Accountants of India), IIM (Indian Institute of Management) etc.

Growth

________ in size- As an organization grows in size; the number of people employed will also be increased.

Proper

Helps in achieving group goals- ________ management of all individuals in an organization is very essential for the accomplishment of organizational objective.

Direction

________ is not only issuing orders and instructions by superior to subordinate, but also guiding, motivating and leading them.

Cooperation

________ without coordination may lead to wasted effort and coordination without ________ creates dissatisfaction.

Integrates group efforts

________: It refers to the unification of all the unrelated activities or diverse interest 2.

Increases

________ efficiency- Managements helps to achieve the goals with minimum resources.

strategic plans

It prepares ________ and policies.

Group goal

________ is more important than the individual objectives.

E Service Motive

________- The primary objective of a profession is providing service to the society.

pervasive function

It is an all ________: Coordination requires at all levels of management and in all departments of the organization.

Coordination

________- The essence of management ________ refers to the process of integrating the activities of different units of an organization to achieve the organizational goals.

attainment of organizational goals

Organization provides the framework within which people associate for the ________.

High efficiency

________ without being effective is not desirable and both inefficiency and ineffectiveness leads to poor management.

Effectiveness

________ versus Efficiency Effectiveness and efficiency are two sides of the same coin.

Personal Objectives

________- The management must reconcile personal goals with organizational objectives to have harmony in the organization.

Management

________ helps the people (employees) to adapt such changes through proper training and motivation.

Management

________ is a group activity- ________ can not exist independent of the group or organization it manages.

Management

________ as a Profession- A profession is an occupation backed by specialized knowledge and training and to which entry is regulated by a representative body.

Management

________ is a Dynamic Function- ________ principles are not static in all situations.

Management

________ as a Science- Science is a systematically organized body of knowledge.

Management

________ is an art of getting things done through other people- Marry Parker Follet.

Management

________ is Pervasive- ________ activities are universally applicable in all types organizations anywhere in the world.

Management

________ is the creation and maintenance of an internal environment in an enterprise where individuals, working in groups can perform efficiently and effectively towards the attainment of group goals.

Management

________ is goal oriented- ________ aims at achieving certain specified objectives (goals) of the enterprise.

Management

________ is an intangible force- Its presence is felt by the result of the organization e.g.

Management

________ is multidimensional- ________ has three dimensions: a.

Management

________ is an Art- Art means the application of knowledge and personal skill to achieve desired results.Management is certainly considered as an art because a manager uses his skills and knowledge in his day to day activities for achieving the goals of the organization.

CLASS XII CHAPTER-1 NATURE AND SIGNIFICANCE OF MANGEMENT Meaning & Definition

Management simply means getting things done through other people, getting things done means get the activities carried out through others

Definitions

1

Management is goal oriented

Management aims at achieving certain specified objectives (goals) of the enterprise

Management is Pervasive

Management activities are universally applicable in all types organizations anywhere in the world

Management of work

All organizations are engaged in doing some work such as school for education, factory for production of goods, hospitals for treatment etc

Management of people

Managing human resource as individual and group

c. Management of operations

Management is also focusing in the production process by which the inputs are transformed into output with help of technology

Management is a group activity

Management cannot exist independent of the group or organization it manages

Management is a Dynamic Function

Management principles are not static in all situations

Management is an intangible force

Its presence is felt by the result of the organization e.g

Organizational Objectives (Economic Objectives)

Objectives set by management for the organization are called organizational objectives

Social Objectives

A business should conduct the activities to fulfill the expectations of the society

Personal Objectives

The management must reconcile personal goals with organizational objectives to have harmony in the organization

Helps in achieving group goals

Proper management of all individuals in an organization is very essential for the accomplishment of organizational objective

Increases efficiency

Managements helps to achieve the goals with minimum resources

Creates a dynamic organization

Appropriate changes must be introduced in the organization as and when it is needed

Helps in achieving personal objectives

Along with the organizational objectives, individual members in the team should be able to achieve their personal goals

Helps in the development of society

Management develops not only the organization but also the society

Management is an Art

Art means the application of knowledge and personal skill to achieve desired results.Management is certainly considered as an art because a manager uses his skills and knowledge in his day to day activities for achieving the goals of the organization

As an art management has the following features

a

Existence of theoretical knowledge

Art presupposes the existence of certain theoretical knowledge

c. Based on practice and creativity

Art involves creative practice of existing theoretical knowledge

Eg

All music is based on seven basic notes, however what makes the composition of a musician unique is his use of these notes in a creative manner

The essential features of science are as follows

a. Systematised body of knowledge b

Coordination

The essence of management Coordination refers to the process of integrating the activities of different units of an organization to achieve the organizational goals

Integrates group efforts

It refers to the unification of all the unrelated activities or diverse interest 2

Unity of action

Coordination helps to maintain unity of action among the activities of one department with that of another

It is a continuous process

Management is a continuous process and coordination is associated with all other functions of management, so that it is a continuous process

It is an all pervasive function

Coordination requires at all levels of management and in all departments of the organization

It is the responsibility of all managers

All managers in the organization are responsible to coordinate the activities in their respective levels of management

It is a deliberate function

A manager has to coordinate the efforts of different people in a deliberate manner

Growth in size

As an organization grows in size; the number of people employed will also be increased

Functional differentiation

The functions of an organization is divided into departments and their objectives are also different

Specialization

Now days many organizations appoint specialists in different jobs