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Principle of management

Part A
Chapter 1
Concept of management Meaning, nature, scope and importance,
roll of management. Management and administration, Management as
profession, Management as science and an art.

In the present day industrial word, management has
become universal. With the increase in complexities of business,
the importance of management has increased enormously. The
principle of management and its techniques are universally
applied at all places and for all organizations and the society in
general. The term management has been interpreted in various
ways depending upon the context and the purpose of for which it
is used. There is no universally accepted standard definition
management. The term management has been interpreted as a
‘Group of People’ entrusted with responsibility of managing the
business. It is also interpreted as a ‘ Process’ or an ‘Activity’
including functions of planning, organizing, directing and
controlling. It is also used to refer to a ‘ Discipline’ having an
organized body of language. Further it has also been interpreted
as an ‘Art’ of doing thing things done though others.