2. Introduction
Complexities of Managing a Business
• Managing a business becomes difficult with increasing
complexities.
• Every business unit has its own objectives.
• The need for existence has increased tremendously.
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3. Meaning and Definition of Management
Art of Getting Things Done
• Management is the art of getting things done by a group of
people with the effective utilization of available resources.
• There are various definitions of management provided by
experts like Peter F. Drucker and Ralph C. Davis.
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4. Definition of Management
Process of Directing Actions towards Common Goal
• Joseph L. Massie defines management as the process by which
a cooperative group directs actions towards a common goal.
• James D. Monny defines management as the art of directing
and inspiring the people.
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5. Characteristics of Management
Organizational Purpose and Structure
• Management is an art as well as a science.
• It is a continuous process.
• Management achieves pre-defined objectives.
• It involves organized activities and is a factor of production.
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6. Functions of Management
Planning, Organizing, Leading, Controlling
• Planning: Specifying goals and determining actions to achieve
them.
• Organizing: Distribution of work and coordination of resources.
• Leading: Directing and inspiring people.
• Controlling: Monitoring progress and ensuring goals are met.
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7. Importance of Management
Meeting Challenges and Accomplishing Goals
• Management meets the challenges of change.
• It accomplishes group goals and utilizes resources effectively.
• Effective functioning of business and development of
resources.
• Management directs the organization, integrates various
interests, and promotes stability.
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8. Administration & Management
Difference and Roles
• Administration and management have different roles within an
organization.
• The board of directors and general managers are part of the
administration, while supervisors and workers are part of
management.
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