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    Unit 4 Management

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    Management is the process of planning, organizing, leading, coordinating, and controlling organizational resources to efficiently achieve goals. It involves optimally using the 5Ms - men, machine, material, money, and methods. Some key characteristics of management are that it is universal, goal oriented, continuous, multidimensional, involves groups, is dynamic, and relies on intangible forces. Principles of effective management include unity of command, division of work, authority and responsibility, and initiative.

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    Unit 4 Management

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    neha.verma_04
    6 views3 pages
    Management is the process of planning, organizing, leading, coordinating, and controlling organizational resources to efficiently achieve goals. It involves optimally using the 5Ms - men, machine, material, money, and methods. Some key characteristics of management are that it is universal, goal oriented, continuous, multidimensional, involves groups, is dynamic, and relies on intangible forces. Principles of effective management include unity of command, division of work, authority and responsibility, and initiative.

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    Management is the process of planning, organizing, leading, coordinating, and controlling organizational resources to efficiently achieve goals. It involves optimally using the 5Ms - men, machine, material, money, and methods. Some key characteristics of management are that it is universal, goal oriented, continuous, multidimensional, involves groups, is dynamic, and relies on intangible forces. Principles of effective management include unity of command, division of work, authority and responsibility, and initiative.

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    6 views3 pages

    Unit 4 Management

    Uploaded by

    neha.verma_04
    Management is the process of planning, organizing, leading, coordinating, and controlling organizational resources to efficiently achieve goals. It involves optimally using the 5Ms - men, machine, material, money, and methods. Some key characteristics of management are that it is universal, goal oriented, continuous, multidimensional, involves groups, is dynamic, and relies on intangible forces. Principles of effective management include unity of command, division of work, authority and responsibility, and initiative.

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    UNIT 4

    Management
    Management
    • Definition: Management is the process of forecasting and planning,
    organizing, leading, coordinating and controlling the resources of an
    organization in the efficient and effective pursuit of a specified organizational
    goal. Henri Fayol (1916)

    • It is concerned with optimally using 5M’s, i.e. men, machine, material, money


    and methods and, this is possible only when there proper direction,
    coordination and integration of the processes and activities, to achieve the
    desired results.

    Characteristics of Management
    • Universal
    • Goal Oriented
    • Continuous Process
    • Multi-dimensional
    • Group activity
    • Dynamic function
    • Intangible force
    Principles of Management
    1.Unity of Command
    2.Theory of Equity
    3.Esprit de Corps(team spirit)
    4.Division of Work
    5.Authority and Responsibility
    6.Discipline
    7.Subordination of Individual Interest
    8.Unity of Direction
    9.Remuneration
    10.The Degree of Centralization
    11.Scalar Chain
    12.Order
    13.Stability of Tenure of Personnel
    14.Initiative

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