BST Chapter -1

Notes

Management

-->Management is the process of getting things done with the aim of achieving goals efficiently &
effectively .

Effectiveness

-->Work on time

Efficiency

-->Low Cost

Characteristics of Management

-->Goal Oriented Process

-->Dynamic Function

-->Group Activity

-->Intangible Force

-->Continuous Function (POSDC)

-->Multidimensional

-->Pervasive in Nature

Objective of Management

-->Organizational Objective

Profit

Survival

Growth

-->Social Objective

-->Personal Objective
Importance of Management

-->Achieving Group Goals

-->Creats Dynamic Organization

--> Increase Efficiency

-->Development of Society

-->Achieving Personal Objective

Management as....

Art Science Profession

Existence of Systematic body of knowledge Well defined body of knowledge
Theoretical
knowledge

Personalized Principa Based on Experiment Restricted Entry

application and observations

Based on pratice Universal Validity Professional Association

& creativity

...................... ........................................... Ethical Code of Conduct

........................ ........................................... Service Motive

Levels of Management

Top Level

--> Chief task is to integrate and to coordinate the various activities of the business , framing policy ,
formulating organizational goals & strategies
Middle Level

-->

Lower Level