Introduction to Management

 Introduction and Some important definitions

Management (old concept)

Management is an art of getting things done from others.

Management (new concept)

Management is a process of achieving goals or objective of a firm efficiently and effectively.

The concept of management consists of following elements mentioned below.

Process

Management is a process at it involves series of steps, or it is done step-by-step to achieve objective these steps are planning, organising, staffing, directing and controlling.

Effectively 

Completion of assigned work or project on a given time by doing right tasks.

Efficiency 

Optimum utilisation of given resources.

Or

Minimum wastage of resources in process to get desired results.

Management is composite in nature ?

Management is composite in nature it means all the functions and activities of management are interdependent and interrelated.

What are objectives ?

Objectives are the end result for which all the activities in the organisation are undertaken.  Objectives are measurable achievable understandable and clear.