Course Code: 18BMC101A

Course Title: Principles of Management

Dr.N.Suresh
E-mail: nsuresh.ms.mc@msruas.ac.in

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Lecture No 2
Characteristics and Importance of Management

At the end of this lecture, the student will be able to:

• Explain the characteristics of Management

• Explain the importance of Management

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Content
• Characteristics of Management
• Importance of Management

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management
Management is goal-oriented:
– Management is not an end in itself

– Management is nothing but to achieve certain goals.

– Management has no justification to exist without goals

– The basic goal of management is to ensure efficiency and

economy in the utilisation of human, physical and financial
resources.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

Management is universal:
– Management is an essential element of every organised activity
irrespective of the size or type of activity

– Wherever two or more persons are engaged in working for a

common goal, management is necessary.

– All types of organisations, e.g., family, club, university,

government, army, cricket team or business, require
management.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

• Management is an Integrative Force:

– The essence of management lies in the coordination of
individual efforts in to a team.

– As uniting force, management creates a whole that is more than

the sum of individual parts

– It integrates human and other resources

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

• Management is a Social Process:

– Management is done by people, through people and for people

– It is a social process because it is concerned with interpersonal

relations

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

• Management is multidisciplinary:

– Management has to deal with human behaviour under vigorous

conditions.

– It depends upon wide knowledge derived from several

disciplines like engineering, sociology, psychology, economics,
anthropology, etc.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

• Management is a continuous Process:

– Management is a dynamic and an on-going process

– The cycle of management continues to operate so long as there

is organized action for the achievement of group goals.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)

Management is Intangible:

Management is an unseen or invisible force

It cannot be seen but its presence can be felt everywhere in the

form of results.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Characteristics of Management (Contd..)
Management is an Art as well as Science:

– It contains a systematic body of theoretical knowledge and it

also involves the practical application of such knowledge.

– Management is also a discipline involving specialized training

and an ethical code arising out of its social obligations

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Importance of management
• Management is a critical element in the economic growth of a
country

– The four factors of production i.e men, money, material and

machines, management enables a country to experience a
considerable level of economic development

– Country with enough capital, manpower and natural resources

can still be poor if it does not have combine and coordinate
these resources

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Importance of management (Contd..)
• Management is essential in all organised efforts, be it business
activity or any other activity

– Management principles applies not only in business

organisation; they are also applied in educational, social,
military and government organisations

– all organisations follow the same pattern of management

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Importance of management (Contd..)

• Management is the dynamic, life giving element in every

organisation

– It settles disputes and provides leadership

– Quality and performance of management determines the

success of an organisation

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Summary

• Management has many characteristics like universal, integrative

force, social process etc.
• Proper management is important to improve country’s economic
growth

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 References
a. Essential Reading
• Class Notes
• Koontz Harold and Weihrich Heinz. (2015) Essentials of Management, 6th edition, Tata
McGraw-Hill, New Delhi
• Stephen P. Robbins, Mary Coulter and Neharika Vohra (2013). Organisational Behavior,
13th edition, Pearson
b. Recommended Reading
• Haberberg, A. and Rieple, A. (2008) Strategic Management: Theory and Application,
1st edition, Oxford University Press
• Mc Shane and Steven. (2008) Organizational Behavior, 4th edition, Tata McGraw-Hill
c. Websites
• http://
www.tatamcgrawhill.com/cgibin/browse2.pl?code1=264&subject1=Managemen
t+Studies&code2=5316&subject2=Marketing&flag1=&division=INDH
• http://www.pearsoned.co.in/web/Category/Higher_Ed._
and_Vocational/Business_and_Management/Management.aspx
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Faculty of Management and Commerce © Ramaiah University of Applied Sciences
 Disclaimer

• All data and content provided in this presentation

are taken from the reference books, internet –
websites and links, for informational purposes only.

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Faculty of Management and Commerce © Ramaiah University of Applied Sciences