Management

1. Management
GURU JAMBHESHWAR UNIVERSITY OF
SCIENCE & TECHNOLOGY,HISAR
Presented By:
Naveen Kumar Sharma
Roll No. 16105040
MBA (Marketing)
Department - HSB
96608-39808

2. Management is a process achieving more
from less by using limited resources in
efficient manner.
Management is art as well as science.

3. F.W. Taylor:-
Management is the art of knowing
what you want to do and then seeing that it is
done in the best and cheapest way.
Peter Drucker:-
Management is a multipurpose
organ that manage a business and manages
Managers and manages Workers and work.

4. 1.Management is goal-oriented.
2.Management is Universal.
3.Management is an Integrative.
4.Management is a social process.
5.Management is multidisciplinary.
6.Management is a continuous process.
7.Management is intangible.
8.Management is an Art as well as Science.

5. Management as a Science
Management as an Art
Management as a
Profession

6. Management as a Science
Science means a systematic body of
knowledge pertaining to a specific
field of study. It contains general
principles and facts which explains a
phenomenon.

7. (i) Systematic body of knowledge .
(ii) Developed through scientific enquiry
or experiments .
(iii) Universal principles .
(iv) Cause and effect relationship .
(v) Tests of validity and predictability .

8. Management as an Art
Art implies the application of knowledge and
skills to bring about the desired results.
The essential elements of arts are:
(i) Practical knowledge
(ii) Personal skill
(iii) Result oriented approach
(iv) Creativity
(v) Improvement through continuous practice

9. Management as a Profession
A profession is calling that requires specialized
knowledge and often, long intensive academic
preparation.
The essential features of profession are as follows:
(i)Specialised body of knowledge
(ii)Restricted entry
(iii)Service motive
(iv)Representative association
(v)Code of conduct

10. 1.Production Management
2.Marketing Management
3.Financial Management
4.Personal Management

11. Production management implies planning, organising, directing and
controlling the production function so as to produce the right goods ,
in right quantity, at the right time and at the right cost . It includes
the following activities:
(a)Designing the product
(b) Location and layout of plant and building
(c)Planning and control factory operations
(d)Operation of purchase and storage of materials
(e)Repairs and maintenance
(f)Inventory cost and quality control
(g)Research and development etc.

12. Marketing management refers to the identification of consumers need
and supplying them the goods and services which can satisfy these
wants.
It involves the following activities:
(a)Market research to determine the needs and expectation of
consumers
(b)Planning and developing suitable products
(c)Setting appropriate prices
(d)Selecting the right channel of distribution, and
(e)Promotional activity like advertising and salesmanship to
communicate with the customers

13. Financial management seeks to ensure the right the right
amount and type of funds to business at the right time and
at the reasonable cost.
It compromise the following activities:
(a) Estimating the volume of funds required for both long-term
and short-term needs of business .
(b)Selecting the appropriate source of funds .
(c)Raising the required funds at the right time .
(d)Ensuring proper utilisation and allocation of raised funds so as
to maintain safety and liquidity of funs and the creditworthiness
and profitability of business .
(e)Administration of earnings Thus, financial management
involves the planning, organising and controlling of the financial
resources .

14. Personnel management involves planning, organishing and
controlling the procurement, development, compensation,
maintenance and integration of human resources of an
organisation.
It consists of the following activities :
(a)Manpower planning
(b)Recruitments
(c)Selection
(d)Training
(e)Appraisal