What is Management?
Management is the process of planning, organizing, staffing, leading and controlling organizational resources to achieve goals effectively and efficiently.
Define management according to Koontz and O’Donnell.
Management is the creation and maintenance of an internal environment in which individuals working together can perform efficiently.
What is effectiveness?
Effectiveness means achieving objectives or doing the right things.
What is efficiency?
Efficiency means achieving maximum output with minimum input.
Distinguish between efficiency and effectiveness.
Efficiency focuses on means, effectiveness focuses on ends.
Explain management as a process.
Management consists of interrelated functions such as planning, organizing, staffing, leading and controlling.
Explain management as a science.
Management is a science because it has systematic body of knowledge and uses cause–effect relationships.
Explain management as an art.
Management is an art because it requires personal skills, creativity and practical experience.
Explain management as a profession.
Management has formal education, code of conduct and professional bodies.
What are the objectives of management?
Organizational objectives, social objectives and personal objectives.
What are organizational objectives?
Efficient use of resources and profit maximization.
What are social objectives?
Serving society and fulfilling social responsibilities.
What are personal objectives?
Satisfying employee needs like salary and growth.
What are the functions of management?
Planning, organizing, staffing, leading and controlling.
Explain organizing.
Organizing is grouping tasks and establishing authority relationships.
Explain planning.
Planning is deciding future actions and selecting best alternatives.
Explain staffing.
Staffing is recruiting, selecting, training and developing employees.
Explain leading.
Leading is motivating and directing employees.
Explain controlling.
Controlling is comparing actual performance with planned performance.
What are technical skills?
Ability to use specific tools and techniques.
What are human skills?
Ability to communicate and work with people.
What are conceptual skills?
Ability to think strategically and see overall picture.
Who was Henri Fayol?
French management theorist who gave 14 principles of management.
Who was F.W. Taylor?
Father of scientific management.
