INTRODUCTION:PRINCIPLES OF

MANAGEMENT
What Is Management?
Management
It is a process involving planning, organizing, staffing,
directing and controlling the resources of the organization
to achieve organizational goals effectively and efficiently.

Resources are organizational assets
People - Skills , Knowledge
Information
Raw materials
Machinery
Financial capital

Definition of Management:
Management is simply the process of decision making and
control over the action of human beings for the expressed
purpose of attaining predetermined goals- Stanley Vance

Management is the art of getting things done through and
with people in formally organized groups.- Harold Koontz

To manage is to forecast, to plan, to organize, to command,
to coordinate, and to control. - Henry Fayol

Nature of Management
Continuous Process
Universal in Nature
Multidisciplinary
Management is a group activity
Management is goal oriented
Dynamic
Management is a science and art
Management as profession




Management Vs Administration
Point of distinction Administration

Management
Definition Determines broad objectives and
policies
Implements plans and
achieve goals through
People
Nature Thinking function-what is to be
done
Doing function-who
should and how
Level Top level function Middle level function
Scope Major decisions of an enterprise as
a whole.
Decisions within the framework set
by the administration.
Status Consists of owners who invest
capital in and receive profits from
an enterprise.
Group of managerial personnel
who use their specialized
knowledge to fulfill the objectives
of an enterprise
Role Administrators are planners Managers are doers or executors
Management as a Science
Universally acceptance principles
Experimentation & Observation
Cause & Effect Relationship
Test of Validity & Predictability
Management as an Art
Practical Knowledge
Personal Skill
Creativity
Perfection through practice
Goal-Oriented
Management as a Profession
Specialized Knowledge
Formal education and training
Representative Association
Code of conduct
Social Obligations