Objective: The objectives of this lesson are to enable to define management; to describe the nature and scope of management; to know the difference between management and administration; to understand various levels of management; and to describe the various skills that are necessary for successful managers.
1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 Introduction Definition of Management Characteristics of Management Management Functions/ the Process of Management Nature of Management Management Vs. Administration Levels of Management Managerial Skills The Manager and his job Principles of Management Significance of Management Summary Self Assessment Questions Suggested Readings
INTRODUCTION A business develops in course of time with complexities. With increasing complexities managing the business has become a difficult task. The need of existence of management has increased tremendously. Management is essential not only for business concerns but also for banks, schools, colleges, hospitals, hotels, religious bodies, charitable trusts etc. Every business unit has some objectives of its own. These objectives can be achieved with the coordinated efforts of several personnel. The work of a number of persons are properly co-ordinated to achieve the objectives through the process of management is not a matter of pressing a button, pulling a lever, issuing orders, scanning profit and loss statements, promulgating rules and regulations. Rather it is the power to determine what shall happen to the personalities and happiness of entire people, the power to shape the destiny of a nation and of all the nations which make up the world." Peter F. Drucker has stated in his famous book "The Practice of Management" that, "the emergence of management as an... [continues]
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