➢ A social unit of people systematically structured and managed to meet a need or to pursue collective goals on a continuing basis. All organizations have a management structure that determines relationships between functions and positions, and subdivides and delegates roles, responsibilities, and authority to carry out defined tasks. Organizations are open systems in that they affect and are affected by the environment beyond their boundaries. Business organizations can range in size from one person to tens of thousands.
2. Definition of Management
➢ The act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.
➢ A purposive activity that directs group efforts towards the attainment of certain pre - determined goals. It is the process of working with and through others to effectively achieve the goals of the organization, by efficiently using limited resources in the changing world.
➢ Management can also be human action, including design, to facilitate the production of useful outcomes from a system. This view opens the opportunity to 'manage' oneself, a pre-requisite to attempting to manage others.
➢ “Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.” ~ Paul Hawken
3. Functions of Management
❖ It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals.
❖ It is also necessary to ensure proper utilization of human & non-human resources. It is all pervasive, it is an intellectual activity and it also helps in...