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SIX “M”s OF MANAGEMENT

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Management function is a distinct function of
mobilizing, allocating and utilizing the resources to achieve
predetermined objectives in business. Six M’s of
management are Manpower, Machines, Materials,
Methods, Money and Markets. Each of six M’s have their
own dynamics. Managers must clearly understand the
purposes of which these M’s are used and co-ordinate them
to optimize combined productivity. Management has to
exercise balance in the employment of these different
resources. Example manpower and machines cannot be
treated in the same way.