Professional Documents
Culture Documents
Mgt. 101
Bibliography in Management:
11. Robbins, Stephen and Coulter, Mary, Management, 2002, 7th edition,
Prentice Hall
12. Rue, Leslie and Byars, Lloyd, Management Skills and Application, 2007,
12th edition, McGraw Hill
13. Russell and Taylor, Operations Management, 2006, 5th edition, John
Wiley and Sans Inc.
2
14. Stoner, James, and Freeman, Edward et al., Management, 2001, 6th
edition, Pearson Education
15. Thompson, John and Martin, Frank, Strategic Management, 2005, 5th
edition, Thomson
16. Weinrich, Heinz and Koontz, Harold, Management, 11th edition, 2005,
McGraw Hill
Definition of Terms:
1. Management:
3. Organizing (process)
Scarcity has to exist. Scarcity is a fact of life. People have unlimited wants
(for food, money, comfort, leisure time etc.), but the resources for satisfying
these wants are limited.
However, assuming scarcity does not exist, then, there would be no need in
studying management. People would just take what they need, and give
what other people needed. Management is a process of deciding the best
way to use an organization’s resources to produce goods or provide services.
The process of management deals with the limited resources. A resource
can be raw materials, manpower, time, money etc. If raw materials are
unlimited, companies can produce products and services without managing
or considering the supply of their input materials. If manpower is unlimited,
there is no need to motivate employees to increase production. There will
be no cost in hiring and training employees. If there is unlimited time and
money, there are no deadlines to meet and no reason to reduce cost.