PRINCIPLES OF

MANAGEMENT
PRESENTED BY

N.BALACHANDAR
2K10MBA049
What is management ?
Management is an organizational function, like sales,
marketing or finance.
It doesn't necessarily mean managing people,We can
manage ourselves or the material assigned to us at work.
If you managed a project very well on your own, it would
mean that you did the job in a well-organized and in a
efficient manner.
Definition of management
American Management Association :
Management is guiding human & physical
resources into dynamic organizational units, which attain
their objectives to the satisfaction of those served and
with a high degree of morale and sense of attainment on
the part of those rendering service.
Management in general term :
Management characterizes the process of leading and
directing all or part of an organization, often a business,
through the deployment and manipulation of resources
(human, financial, material, intellectual or intangible).
Nature & characteristics of
management
Management is universal: Management is required in every form, from maintaining & driving a bicycle to
running an organization .The approach and style may differ at various levels & environments but the fundamental
principles of management are applicable in all areas of organized effort.
Management is purposeful: All activities of management are goal oriented & the success of management is
determined on the extent of achieving predetermined goals.
Management is an Integrative Force: Management is a team effort, which integrates individual goals to
achieve organizational goals. Coordination among departments forms one of the elements of management.
 
Management is a social Process: Management is done, by the people, through the people and for the people. Human capital is the
most important coordinate in Management. It is a social process because it is concerned with interpersonal relations.
Management is Multidisciplinary: Management derives its knowledge from many disciplines like Statistics, Sociology, Psychology,
Economics etc. The main reason for this is that it has to deal with human behaviour under dynamic conditions.
Management is a continuous process: Management is a process that has different stages and elements; it is continuous as it is
focused in achieving goals form time to time.
Management is intangible: Process of Management is unseen and is visible only in the form of results. The functionaries of
management are visible in the form of managers.
Various functions of
Management
• Planning
Planning is the conscious determination of future course
of action. This involves why an action, what action, how
to take action, and when to take action.
Thus, planning includes determination of specific
objectives, determining projects and programs, setting
policies and strategies, setting rules and procedures, and
preparing budgets.
• Organizing
Organizing is the process of dividing work into convenient tasks or duties, grouping of such duties in the
form of positions, grouping of various positions into departments and sections, assigning duties to
individual positions, and delegating authority to each position so that the work is carried out as planned.
Organizing function contributes to the efficiency of the organization by ensuring that all necessary
activities will be performed and objectives are achieved.
 
 
• Staffing
Staffing involves manning the various positions created by the organizing
process. It includes preparing inventory of personnel available and
identifying the gap between manpower required and available, identifying the
sources from where people will be selected, selecting people, training and
developing them, fixing financial compensation, appraising them
periodically, etc.
• Directing
When people are available in the organization, they must
know what they are expected to do in the organization.
Superior managers fulfill this requirement by
communicating to subordinates about their expected
behaviour. Once sub-ordinates are oriented, the superiors
have continuous responsibility of guiding and leading
them for better work performance and motivating them to
work with zeal and enthusiasm. Thus, directing includes
communicating, motivating and leading.
• Controlling
Controlling involves identification of actual results,
comparison of actual results with expected results as set
by planning process; identification of deviation between
the two, if any, and taking of corrective action so that
actual results match with expected results.
 
What is Planning ?

Management of an organization is required not only to identify

the environmental changes but also to exploit them profitably,
by means of suitable adjustment and adaptation of inputs and
transformation process. Planning provides the key to
accomplish of this objective
Definition of planning

Mc Farland
“Planning is a concept of executive
action that embodies the skills of
anticipating, influencing and
controlling the nature and direction of
change”.
