This document provides an overview of management concepts for an MBA course. It defines management as "the art of getting things done through people" and coordinating work to achieve goals. Management is described as a process involving planning, organizing, directing, and controlling to accomplish objectives using resources and people. Key functions of management are identified as planning, organizing, staffing, directing, coordinating, reporting and budgeting. The document poses questions at the end to test understanding of management concepts.

1. Program: Name MBA
Course Name: Management Fundamentals
Course Code: MBA 101
Concept Video : Know What is Management
Presented by: Dr. Mukul
Burghate

2. What is Management?
 Management is the “Art of Getting
Things Done Through People”.
 In other words, the manager
coordinates the work of others to
accomplish goals that might not be
achievable by an individual.

3. Definition
Management is the art of “knowing what you
want to do” and then seeing that it is done in
the best and cheapest way.
……F.W.Taylor
Management as a process “consisting of
planning, organizing, actuating and
controlling, performed to determine and
accomplish the objective by the use of
people and resources.”
……George R. Terry

4. In this definitions,
Planning means Plan in advance.
Organizing means coordination between
human resources and material resources.
Directing means motivation and giving
direction to subordinate.
Controlling means to ensure about
implementation of plan without deviation.
Thus , this definition tells that management is
act of achieving the organization
objectives.

5. MANAGEMENT FUNCTIONS OR THE
PROCESS OF MANAGEMENT
Planning, Organizing, Leading & Controlling
(Newman & Summer)
Planning, Organizing, Commanding, Coordinating
and Controlling (Henri Fayol)
‘POSDCORB’: Planning, Organizing, Staffing,
Directing, Coordinating, Reporting & Budgeting
(Luther Gulick)
Decision Making, Organizing, Staffing, Planning,
Controlling, Communicating & Directing (Warren
Haynes & Joseph Massie)
Planning, Organizing, staffing, directing &
Controlling (Koontz O’Donnell)

6. What is the meaning of the Acronym POSDCORB?

7. Questions for Self Assignment
1.Which aspect of management is concerned with the end
result.
(a) Effectiveness
(b) Efficiency
(c) Co ordination
(d) Controlling
2.Which of the following Statement justifies Management is a
continuous process.
(a) The task of the manager is to make people work towards goal
(b) In an organisation diverse individuals have diverse goals
(c) Management can’t be done once for all
(d) Management converts work into goal

8. Questions for Self Assignment
1.Which aspect of management is concerned with the end result.
(a) Effectiveness
(b) Efficiency
(c) Co ordination
(d) Controlling
2.Which of the following Statement justifies Management is a continuous
process.
(a) The task of the manager is to make people work towards goal
(b) In an organisation diverse individuals have diverse goals
(c) Management can’t be done once for all
(d) Management converts work into goal