This document provides an overview of management concepts including: - Management is the process of planning, organizing, and overseeing resources and activities to achieve business goals efficiently. - Characteristics of management include being multi-dimensional, dynamic, and intangible. Management consists of ideologies, policies, and human interaction. - Objectives of management are organizational survival, profit, growth, social objectives like CSR, and personnel objectives like salaries and benefits. - Levels of management are top management, middle management, and operational management. Functions of management include planning, organizing, staffing, directing, and monitoring quality.

1. NAME: atharv bhushan thoraT
ROLLNO:207
SUBJECT : BUSINESSMANAGEMENTCLASS : SYB.COM
DIVISION: b
TOPIC: MANAGEMENT

2. WHATIS MANGEMENT ?
Managementistheprocessof planning and organizingtheresources andactivitiesofa
businesstoachievespecificgoalsinthemost effective andefficientmannerpossible.
Efficiencyinmanagementrefers tothecompletionoftasks withinspecifictimelinestoyield
tangible results

3. CHARACTERISTICSOFMANAGEMENT
a) Multi–dimensional:Mostmanagementoverseesandsupervisesacompanyor organization’sserviceorproductioncycle.Managersworks
closelywithandprovideguidancetothemembersoftheirteam.
b) Dynamic:managementisadynamicfunctionandevolves andadaptstochanges inits
environment,whethertheyareeconomic,socio-politicalortechnological.Forinstance,apapercompanycouldseeadeclineinsalesbecauseofthe
rapid adoptionofscreensanddigitaldevice.
c) Intangible:managementis notatangibleproduct,butitspresence canchange thewayanorganizationfunctions.Managementconsists of
ideologies,policies andhumaninteraction.

4. OBJECTIVE OFMANAGEMENT
O
Organisationalobjectives:Managementshouldconsidertheinterestsofallcompany stakeholders,includingemployees,customersandthegovernment.Mangers
areresponsiblefor settingandachievinggoalsfortheorganisation.Typically,theprimaryaimofanorganizationistoachievegrowthbyutilizingitshuman,
materialandfinancialresources.Therearethreegeneral
organisationalobjectivesforanycompany:
Survival:Anorganisationneedstogenerateenoughforrevenuetocoversitsoperationalcosts.
Profit:Profit providesincentiveandisessentialforcoveringunprecedentedcostsandrisksassociatedwithrunningabusiness.
Growth:Youcanmeasurethegrowthofabusinessintermsofincreaseinsalesvolume,
workforceandcapitalinvestment.

5. oSocialobjective:Toanextent,themanagementisalsoresponsibleforcreatingbenefitsforthesocietythroughtheirwork.Companieschoosetodothisindifferentways.
Somemayincorporateenvironment-friendlymethodsofproduction,whileothersimplement fairwagesandopportunities.Largercompaniesoftenmaintainor
fundinitiativesthat
providebasicamenitieslikehealthcareandeducation.Basedonthesaleoftheir operations,companiesofteninitiateCSR(CorporateSocialResponsibility)
campaignsthatbenefitssocietyindifferentways.
oPersonnelobjective:Themanagementtypicallydecidesthefinancialincentives, salaries,perksandsocialinitiativesfortheiremployees.Activitiesthatimprove
peerrecognitionandinteractionlikecorporateoutingsandholidaybonusescatertothe
personnel’ssocialgrowthanddevelopment.

6. IMPORTANCEOFMANAGEMENT
Helps in achieving groups goals : Effectivemanagementgives a common direction to individual efforts and guides them
towards achieving the overall goals of an organisation.
Increasesefficiency: Efficiency reduces costs and increases productivity in all spheresof an organisation’swork.
Creates a dynamic organisation: Managementhelps its personnel in adapting to change so that the organization
continues to maintain its competitive edge.
Helps in achieving personal objective: Effective management fosters team spirit, cooperation and commitment
to achieve the organisationalgoals asa group, which helps each terms member achieve their personal objectives.

7. LEVELSOFMANAGEMENT
• Topmanagement:Typically,thesenior-mostexecutivesinaccompanyarethechairman,chiefexecutiveofficer,chiefoperatingofficer,
presidentandvice- president.Theirroleliesinintegratingdiversecomponentsofthecompanyandcoordinatingactivitiesofdifferent
departments.Theyalsoanalysethebusinessenvironmentanditsimplicationstoformulategoalsinordertoensurethesurvivalofthe
companyandwelfareofitsstakeholders.
• Middlemanagement:Mostlycomposedofdivisionheads,themiddlemanagementlinkstheoperationalmanagementtothetop
management.Divisionsheadsreceiveguidancefromtopmanagersandareleaderstooperationalmanagers.Theirjobsisto
understandthepoliciesframedbythetopmanagementandrelaythemtotheirrespectivedivisiontoensurethattheyfollowthrough
withcompanypolicies anddecisions

8. • Operational management : supervisors, section leads or forepersons directly
oversees the efforts of the workforce. They are responsible for quality control and
ensure that the work meets deadline. The top management draws out the plans
that define the authority and responsibility of supervisors

9. FUNCTIONSOFMANAGEMENT
• Planning:planninginvolvescreatingatimelineoftaskthatneedtobecompletedtoachieveaspecificgoal.Managersexecuteplanning.
Planningshouldbecarriedoutinasystematicfashiontoavoidwastageofresourcesandtime.Adetailedplanofactionminimises
confusion,risk,wastageanduncertainty.
• Prioritiseorganisation:theobjectiveoforganisingistonurtureasymbiotic relationshipbetweenthepersonnel,financialandphysical
resourcesofthecompany.Properorganisingprovidesthecourseofactionthatmeetsall parametersforsuccess.Organisinginvolves
theidentificationandclassificationofbusinessactivities,delegationandcoordination.

10. • Improvestaffing:staffinginvolvesrecruitingandbuildingateamforaorganisation.Thestaffingprocessofcompaniesisoften
lengthyandin- depth.Managementidentifiesprofessionalrolesinthecompanyandtheskillsrequiredtoperformwellinthese
roles.Themanagerstheselects staffforthoserolesthroughtherecruitmentprocesses.Onceselected, candidatesundergotraining
andjointhecompany’sworkforce.Managersarealsoresponsibleforawardingappraisalsandpromotionaspartsofstaffing
• Providedirection:supervising,motivatingandguidingthestaffmembers is central tothefunctionsofamanager.Directinginvolves
takingthesteps to putthework in motionandmaintainproductivitytoachieve companygoals. Thisrequires excellent leadership,
communicationandinterpersonalskills todrivetheteamtowardcompletingorganisational

11. • Monitorquality:Businessesfunctiononsomeestablishedstandards ofperformance.Amanagersensuresthatthestaff’s
collectiveoutputmeetsquantity and qualitybenchmarkssetby thecompany.Control ateachpreventsoveralldeviationfrom
prescribedquality specifications

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