Business Studies

Chapter
1
Management
By Intent Classes
Management
Management is a Process of getting things done
with the aim of achieving goals effectively and
efficiently.
 Management

Process Effectiveness Efficiency

Being effective or Efficiency involve cost
Planning, benefit analysis. It focus on
organizing, doing work deriving more benefits by
staffing, effectively means using less resources. It
finishing the given insist on using less inputs
directing, task or achieving
such as money, materials,
equipment person to get
controlling the goal. more output.
Feature of Management
1. Management is Goal-Oriented Process
2. Management is Pervasive
3. Management is Multi-dimensional
4. Management is a Continuous Process
5. Management is a Group Activity
6. Management is a Dynamic Function
7. Intangible
Feature of Management
3. Management is Multi-dimensional

Management
Management of Management of Management of
Work People Operations

Planning Staffing Production

Organizing Sales
Controlling Directing Purchases
 Objectives of Management

Organizational Personal Objective

Social Objective
Objective
1. Quality Products 1. Adequate Salary
1. Survival 2. Reasonable Price 2. Good Working
2. Profit 3. Employment Opportunity
Conditions
4. Economic Wealth
3. Growth 5. Educational, health and 3. Peer Recognition
vocational training 4. Training and
programmes Development
6. Eco-friendly methods of 5. Social Recognition
production
Importance of Management
1. Creates Dynamic Organization
2. Helps is achieving personal Objectives
3. Helps in development of society
4. Helps in achieving group goal
5. Improves Efficiency
 Management as Science

Feature of Science which is also Feature of Science which is not

present in management present in Management
Systematic Body of
Universal Validity
Knowledge
Feature of Science
partially present
Principles are based on
repeated experiments
 Management is Both
Science and Art

As Science As Art
1. Systematic Body of 1. Systematic Body of
Knowledge Knowledge
2. Personalised Application
2. Principles are based on 3. Based on Practice and
repeated experiments Creativity
Management as Profession
1. Well Defined Body of Knowledge
2. Restricted Entry
3. Presence of Professional Associations
4. Existence of Ethical Codes
5. Service Motive
 BOD
C.E.O
C.F.O Top Level
C.O.O
Chairman,
Management
President,
Vice President

Middle Level Purchase Manager, Sales Manager

Marketing Manager, Executive Officer,
Management Plant Superintendent, Divisional Heads,
Supervisor, Superintendent, Supervisory
Foreman, Section Officer,
Level
Clerk, Sub-department Executive, etc
Function of Top Level Management
1. Determining Objectives
2. Framing Plan & Policies
3. Organizing Activities
4. Assembling all the resources
5. Welfare and Survival of Organisation
6. Liaision with outside world
7. To integrate diverse elements and Coordinate the activities
8. Analyse business environment and its implications
Function of Middle Level Management
1. Interpretation of Policies to Low Level
2. Organising activities of department
3. Recruitment and selection of employees
4. Motivating people to perform to their best
5. Controlling and instructing employees
6. Cooperate with other departments
7. Implementing the plans framed by Top Level
Function of Lower Level Management
1. Representing grievances of workers
2. Good Working Conditions
3. Safety of Workers
4. Helping Middle Level in recruitment and Selection
5. Welcoming Suggestion of Workers
6. Maintaining Quality Standards
7. Boosting the Moral of Workers
8. Minimizing the wastage of materials
Function of Management

1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling
Function of Management

1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling
Coordination

The Process by which manager synchronises the activities of

different departments is known as Coordination.

Coordination is the Force that binds all the other functions of

management.
Coordination : The Essence of
Management
1. Coordination is needed to perform all the functions of
Management

2. Coordination is required at all Levels

3. Coordination is the most important function of management

 Planning

Organizing

Controlling Coordination

Staffing
Directing
Features of Coordination :

1. Coordination integrates group efforts

2. Ensure unity of Efforts
3. Continuous Process
4. Coordination is Pervasive Function
5. Coordination is the responsibility of all managers
6. Coordination is a deliberate function