simple notes for business studies.

1. Ms.Fathima Shirin Shaji
M.Com , UGC-NET

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 GOVERNMENTwithout these:
 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
need
s
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 ATTOP
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 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
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