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MGT CHAPTER 1 What Is Management
MGT CHAPTER 1 What Is Management
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CHP: 1&5-4
Case Study on
Wal-mart and Metro
By Harvard
Business Review
CHAPTER 1
What is management?
MANAGEMENT AS A PROCESS
Definitions:
1. Management is therefore defined
as the process by which
managers create, direct,
maintain and operate purposive
organizations through
coordinated, cooperative human
effort. (McFarland 1979)
MODEL
MANAGEMENT
P
L
A
N
I
N
G
O
R
G
A
N
I
Z
I
N
G
L
E
A
D
I
N
G
I
N
G
C
O
N
T
R
O
L
4.
Terry (1977)
Management is a distinct process
consisting of planning, organizing,
actuating and controlling performed
to determine and accomplish stated
objectives by the use of human
beings and other resources.
Basic Resources
The 6 Ms
Fundamental function
The Process of Management
Planning
Actuating
Organizing
Controlling
Stated Objectives
End Results
For given objectives, the resources are manpower physical resources i.e., material and financial.
Terry (1977)
Management as a science:
Management as Art:
Arts mean personal creative power
plus skill in performance.
Fullet defines Management as an Art.
Key Characteristics
1. Professionals based their decision on
general principles e.g., admire in
public and criticize in private.
Characteristics for
understanding Management
1. Management is purposeful.
2. Management makes things happen.
3. Management is an activity, not a
person or group of persons.
4. Management is accomplished by,
with and through efforts of others.
5. Management is intangible.
6. Management is aided not replaced by
the computer.
7. Management has an outstanding
impact on human life.