Humaira naz

MBA Finance

Management notes:

Introduction to management:

The concept of management is very difficult to understand. All the organizations use basics
kinds of resources from the environment. The four basic resources are human, financial, physical
and information. By human resource we mean the managerial talent and labor. To finance both
the ongoing and long term operations the organization needed capital which they get from the
financial resources. The physical resources are the raw materials, office and production facilities
and equipment. The fourth resource is information. Information is the useful data needed to make
effective decisions. Managers are responsible for combining and coordinating these four basics
resources to achieve the organizations goals. All the organizations are using these useful
resources to achieve their goals. How managers combine these resources. They combine these
resources by carrying out four basics managerial functions. The four basics managerial functions
are planning, organizing, leading and controlling.

Definition of management:

A set of activities which includes planning and decision making,

organizing, leading and controlling directed at an organization’s resources that are human,
financial, and physical and information with the aim of achieving organizational goals in an
efficient and effective manner.

Planning and decision making Organizing

Inputs from environment
Goals attained
Human
effectively
Finance
Efficiently
Physical
Controlling Leading
Information