Chapter 1 nature significance of management important notes cbse class 12th

1. By- Sanjay Sir
Director of SK KNOWLEDGE POINT

2.  Management is a universal concept.
 Used in every type of organisation (for profit or not for profit).
 Management is required in all sectors (manufacturing or
service)
 Success of an organisation depends on successful functioning of
management.

3.  Consider a GOVERNMENT withoutthese:
 A prime minister
 Set of rules & regulation
 Legal boundaries

4. Management is a “PROCESS” of designing &
maintaining an environment in which individuals work
together with the aim of achieving goals
EFFECTIVELY
&
EFFICIENTLY.

5.  Management is a process.
 Management requires effective performance.
 Management needs efficiency.
 Effectiveness = aims to achieve the goals within time.
 Efficiency = optimum utilisation of resources to achieve the
goals.

6.  Management is a goal oriented process.
 Management is all pervasive.
 Management is multidimensional.
 Management of work.
 Management of people.
 Management is a continuous process.
 Management is a group activity.
 Management is a dynamic function.
 Management is an intangible force.

7. Organisational
Objective
Social Objective
Personal &
Individual Objectives

8. Survival
Profit
Growth

9.  These objectives are for the benefit of the society
For Example:
 Protection of environment
 Generation of employment opportunities
 Providing basic amenities like school
 Supply of good quality products at fair prices
 Conducting business in lawful manner
 Avoiding anti-social & unfair trade practices

10. Financial
needs
Social
needs
Personal
growth &
development
Good & healthy
working
condition

11. Management helps in achieving group goals:
Management increases efficiency:
Management creates a dynamic organisation:
Management helps in achieving personal
objectives:
Management helps in the development of society:

12. Nature of management
Management
as a science
Management
as an art
Management
as a
profession

13. Systemised body of knowledge
Acquired through observation
& experimentation
Universally Valid

14. Existence of
theoretical knowledge
Personalized
Application
Based on Practice &
Creativity

15. Well defined body of knowledge
Restricted entry
Professional association
Ethical code of conduct
Service motive

16. Top Level Management
•Board of directors, chairman, president
Middle Level Management
•Marketing manager, finance manager
Operational Level Management
•Supervisor, Superintendent, Foreman

17.  Co-ordinate with different departments
as per an objective of an organisation.
 Analysis of the business environment.
 Survival of the firm.
 Formulate strategies & goals of an
organisation.
 Arrange resources:
 Men
 Material
 Machine
 Money
ROLES AT TOP
LEVEL:
1. Board of Directors
2. President
3. Vice-President
4. General Manager
5. CEO
6. COO
7. CFO
8. CMO

18.  A link between top & bottom level
management.
 Implements plans & strategies developed
by top management.
 Interprets the strategy
 Arranges the necessary personnel
 Assigns duties & responsibilities
 Motivates to achieve the desired objective
 Co-ordinates with other departments
ROLES AT MIDDLE
LEVEL:
1. Production Manager
2. Purchase Manager
3. Marketing Manager
4. Finance manager
5. HR Manager

19.  To look after workforce
 To instruct the workforce
 Ensure the quality output
 Wastage should be minimum
 Maintain safety standards
 Maintain the discipline & loyalty of
workforce
 Keep them (workforce) motivated
 To represent workers grievances & problems
to higher level management
ROLES AT
OPERATIONS LEVEL:
1. Supervisors
2. Foreman
3. Superintendent
4. Section offices

20. Functions of Management
Planning Organizing Staffing Directing Controlling
Futuristic
process,
Achieving Goals
Organise &
allocate the
resources
Finding the right
person for the
right job
Supervising,
Motivating &
leading
Meeting the
standard of
performance

21. It ties a knot with other functions of management.
It is a separate function of management.
It synchronises the activities of different
departments towards achievement of a common
goal.
It is a pervasive & inherent in all the processes of
the organisation.

22. Planning
CO-ORDINATION ESSENCE OF
MANAGEMENT
Organizing Staffing Directing Controlling
Overall Plan &
objective
planning
Resource &
activities
Finding the right
person for the
right job
Order, instruct,
suggest
Standard =
Actual
performance

23. Top Level
CO-ORDINATION A NEED AT
Integrate
activities
Accomplishment
of goals
Middle
Level
Integrate
efforts
Lower
Level
Co-ordinate
with workers
Ensure that
work is done

24. Coordination
Integrated
group
efforts
Ensures
unity of
action
Continuous
Process
Pervasive
Function
Responsibility
of all
managers
Deliberate
Function

25. •Growth in size
•Functional Differentiation
•Specialization
IMPORTANCE OF

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Presentation is prepared by:
Sanjay sir
Director of
SK KNOWLEDGE POINT
This presentation is prepared with the
reference book Business Studies
by- Sandeep Garg