Principles of Management, Nature of Management, It's importance. Role of Managers, Administration. Difference betweem Administration & Management.

1. Principles of
Management
FYBBA

2. UNIT 1
Nature of
Management

3. • Meaning :
Management is a problem solving process of effectively
achieving organizational objectives through the efficient use of
scarce resources in a changing environment.

4. • Importance
 It helps in Achieving Group Goals
Optimum Utilization of Resources
Reduces Costs
Establishes Equilibrium
Essentials for Prosperity of Society

5. Functions of Management

6. Role of Managers

7. ADMINISTRATION
Meaning :
Administration is the arrangements and tasks needed to control
the operation of a plan or organization.

8. Difference between
Administration & Management

9. Organization
• A social unit of people that is structured and managed to meet a
need or to pursue collective goals.
• All organizations have a management structure that determines
relationships between the different activities and the members, and
subdivides and assigns roles, responsibilities, and authority to carry
out different tasks.
• Organizations are open systems--they affect and are affected by
their environment.

10. Universality of Management
• Universality of management means that the principles
of management are applicable to all types of organizations
and organizational levels. It means that the manager uses the
same managerial skills and principles in
each managerial position held in various organizations.