Management is the process of getting things done through others effectively and efficiently. Study Material for XII Com

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BUSINESS
STUDIES
XII Commerce
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MANAGEMENT
Subtitle
Session 1 : Concept of Management

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Concept of Management
Management is the art of getting things done through others.
 Process is a well directed sequences of steps to be performed to getting things done
through other
 Effectiveness is concerned with doing the right task, completing activities and achieving
goals
 Efficiency means doing the task correctly and with minimum cost.
Management is the process of getting things done through others effectively and
efficiently.
Morden Concept
Traditional Concept.
Manage ManagerManagement

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Effectiveness Vs Efficiency
Basis of Difference Effectiveness Efficiency
1. Meaning
It refers to completing the job on
time, no matter whatever the cost.
It refers to completing the job in
the cost-effective manner.
2. Objective To achieve end result on time.
To conduct cost-benefit
analysis.
3. Main
Consideration
Time Cost

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Features / Characteristics of Management
1. Management is a Goal-oriented Process
An organisation has a set of basic goals which are the basic reason for its existence.
Management unites the efforts of different individuals in the organisation towards achieving these
goals.
2. Management is All Pervasive
The activities involved in managing an enterprise are common to all organisations whether economic,
social or political.
3. Management is Multidimensional:
Management is a complex activity that has three main dimensions.
(a) Management of Work:
(b) Management of People
(c) Management of Operations

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Features / Characteristics of Management
3. Management is Multidimensional:
(a) Management of Work
All organisations exist for the performance of some work.
Management translates this work in terms of goals to be achieved and assigns the means to achieve
it.
(b) Management of People
Managing people has also two dimensions
(i) It implies dealing with employees as individuals with diverse needs and behavior;
(ii) It also means dealing with individuals as a group of people.
(c) Management of Operations:
Every organization has some basic product or service that requires a production process.
This is interlinked with both the management of work and the management of people.

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Features / Characteristics of Management
4. Management is a Continuous Process
The process of management is a series of continuous, composite, but separate functions.
Planning, Organising, Staffing , Directing and Controlling
These functions are simultaneously performed by all managers all the time.
5. Management is a Group Activity
An organisation is a collection of diverse individuals with different needs.
Management ensures team work and coordination of individual effort in a common direction.
6. Management is a Dynamic Function
Management is a dynamic function and has to adapt itself to the changing environment.
In order to be successful, an organisation must change itself and its goals according to the needs of
the environment.
7. Management is an Intangible Force
Management is an intangible force that cannot be seen but its presence can be felt in the way the
organisation functions.

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Features / Characteristics of Management
1. Management is a goal-oriented process
2. Management is all pervasive
3. Management is multidimensional:
(a) Management of work
(b) Management of people:
(c) Management of operations
4. Management is a continuous process
5. Management is a group activity
6. Management is a dynamic function
7. Management is an intangible force

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