This document discusses key concepts in management including: - The definition, nature, and functions of management. Management involves planning, organizing, leading, and controlling resources to achieve goals. - The tasks and roles of managers including interpersonal, informational, and decisional roles like leader, liaison, monitor, and resource allocator. - Social responsibilities of business towards shareholders, employees, customers, government, and society which includes providing fair compensation and benefits, avoiding pollution, and uplifting weaker sections. - The relationship between managers and the internal and external environment factors that influence business.

1. Management Process
UNIT-I
Nature of Management – Tasks of a Professional
Manager - Social Responsibilities of Business
– Manager and Environment – Systems
Approach to Management – Levels in
Management – Managerial Skills.

2. Meaning:
• Management is an art of getting things done through others.
• Management is to plan, organize, direct and control the resources
of the organization for obtaining common objectives or goals.
• It is related with resources like material, money, machinery,
methods, manufacturing and marketing.
Definitions:
• According to Henry Fayol:- “To manage is to forecast and to plan,
to organize, to co-ordinate and to control.”
• According to Taylor:- “Management is the art of knowing what you want to
do and then seeing that it is done in the best and cheapest way.”

3. Nature of Management
• Management is universal
• Management is Multidiscipline
• Management is continuous Process
• Management is the combination of art, science and
profession:-
• Management is an intellectual activity
• Management is goal oriented
• Management is intangible
• Management is concern with people

4. Functions of Management
Management is a continuous process composed of different
functions that mangers have to perform for attainment of desired
goals. These functions are broadly classified into two parts:
1. Primary Functions
Following are the main functions of management:
• Planning
• Organising
• Staffing
• Directing, and
• Controlling
• Coordination

5. 2. Secondary Functions
Following are the subsidiary functions of management which are
needed to be performed to carry out the primary functions:
• Decision-making
• Innovation
• Representation
• Reporting
• Budgeting
• Forecasting

6. MANAGEMENT IS AN ART, A SCIENCE AND A
PROFESSION
Management is an art because:
• It is creative
• It involves use of skill.
• It involves use of technical know how.
• It is directed towards getting results.
• It is personalized.

7. Management as a Science:-
• Science is a systematic body of knowledge based on certain
principles and which are universally approved.
• F. W. Taylor was the first person who considered management as
a science. Science is divided into two parts.
– Physical science.
– Social science.
• Management is a social science because it deals with human
being.
• Management is a social science due to the following reasons:-
 Systematic collection and processing of information
 Output may change though the inputs are same
 Principles of Management are universally accepted

8. Management is a profession

9. • Profession is an occupation carried by professionals like doctor, lawyer, architect, chartered accountant, cost
accountant etc. It involves knowledge and application of it.
• Management as a profession is modern concept different from traditional one.
Characteristics of a profession
• Systematic body of knowledge
• Formal Education
• Social Responsibility
• Independent Office
• Specialization
• Fees
The modern concept of management has developed as a profession because:-
• Organization is a systematic body of knowledge.
• Formal methods of acquiring knowledge and skill with the help of different institution.
• Rise in professional management consultant.
• Need for honesty.

10. Management by Objectives
• The concept of ‘Management by Objectives’ (MBO) was
first given by Peter Ferdinand Drucker in 1954.
• It can be defined as a process whereby the employees and the
superiors come together to identify common goals, the
employees set their goals to be achieved, the standards to be
taken as the criteria for measurement of their performance and
contribution, deciding the course of action to be followed and
comparing their performance with the standards.

11. Steps in MBO
• Setting the preliminary objectives
• Defining the departmental goals
• Focusing the individual targets.
• Matching the resources and objectives with the recycling
process.
• Measuring the performance and comparing the result.

12. Social Responsibilities of Business
The activities that a concern undertakes for its business for the
welfare of the society is otherwise termed as social
responsibility of a business.
• Responsibility towards owners/ share holders
• Responsibility towards employees
• Responsibility towards consumers
• Responsibility towards government
• Responsibility towards society

13. 1. Responsibility towards shareholders:
(i) To ensure a fair and regular return on the investment of
shareholders.
(ii) To ensure the safety of their investment
(iii) To strengthen financial position of the company.
(iv) To safeguard the assets of the business.
(v) To protect the interest of all types of investors in the
business.

14. 2. Responsibility Towards workers:
(i) Providing fair compensation and benefits,
(ii) Providing good and safe Working conditions,
(iii) To develop a sense of belongingness.
3. Responsibility toward consumers:
(i) To supply right quality of goods & services at reasonable
prices.
(ii) To ensure regular and adequate supply of products.
(iii) To inform them about new products and new uses of
existing products.
(iv) To handle the customers grievance promptly.

15. 4. Responsibility Towards Government –
(i) To pay taxes honestly
(ii) To observe rules laid down by the government,
(iii) to avoid corrupting government employees.
5. Responsibility towards community –
(i) To make available opportunities for employment,
(ii) To avoid polluting the environment,
(iii) To up lift the weaker sections of society

16. MANAGER AND BUSINESS ENVIRONMENT
Business Environment
• There are two important factors available in a business
environment.
• External factors include economic, technological,
demographic, socio cultural and political factors which are
uncontrollable.
• Internal Factors include suppliers, distributors, employees,
policies , culture etc.,

19. Tasks of a Professional Manager

20. Interpersonal Roles
• Figurehead role: The manager performs certain
functions such as receiving important visitors and signing
documents.
• Leader : The manager motivates and encourages
subordinates.
• Liaison role : The manager establishes and
maintains a network of relationships with outside persons
to bring information and favors to the organization.

21. Informational Roles
• Monitor : Seeks and receives information to obtain
thorough understanding of organization and environment.
• Disseminator role: The manager must transmit much of the
information received from outsiders or insiders to other
organization members.
• Spokes person : Information about the organization must
be transmitted to outsiders.

22. Decisional Roles
• Entrepreneurial role: The manager acts as an initiator and designer of controlled
change in the organization.
• Disturbance handler role: This role equips the manager to take corrective
actions needed to resolve important and unexpected disturbances. He must seek
solutions of various unanticipated problems like strike, natural disasters, accidents
etc. Routine problems must also be dealt with simultaneously.
• Resource allocator role: The manager allocates the monetary and non-monetary
resources of the organization. Specific activities include developing and
monitoring budgets, forecasting future resource needs and problems in acquiring
them.
• Negotiator role: The manager frequently must negotiate with outsiders in matters
affecting the organization.

23. • https://mycbseguide.com/blog/social-
responsibilities-business-business-ethics-class-
11-notes-business-studies/