MMH 701

MANAGEMENT THEORY AND PRACTICE

 MANAGEMENT

What is management?
 MANAGEMENT

• Do we follow in our daily life?

• Do we practice at our home?
• Where do we observe managing
resources?
 MANAGEMENT
• Management is the process of designing and
maintaining an environment in which individuals,
working together in groups, efficiently to
accomplish selected goals.

• Management is a knowledge consisting of

concepts, principles, functions and processes,
used for achieving organisational objectives by
effective utilization of recourses and coordinated
efforts.
 MANAGEMENT THEORY AND PRACTICE

• Management is a process of planning,

organising, staffing, directing and controlling
human efforts to achieve organisational
objectives effectively.
NATURE OF MANAGEMENT
 NATURE OF MANAGEMENT
1. MANAGEMENT IS A PROCESS
-Consists of a series of interrelated activities
- Steps to be followed in a sequence
- It is a process of FIVE functions
- planning

- organising
- staffing
- directing and
- controlling
 NATURE OF MANAGEMENT
2) MANAGEMENT IS A ABSTRACT PHENOMENON
- Can not be seen like or touched like a physical
object
- It is invisible and intangible knowledge consisting
of concepts, functions ,principles etc

3) GOAL ORIENTED
- Primary task of management is achieving goals
- Goals are end expected results, with given
resources, in time.
 NATURE OF MANAGEMENT
4 ) DECISION MAKING
-Vital part of management
- Success of organisation depends on
. Quality of decisions
. Effective execution of decisions in
implementation
 NATURE OF MANAGEMENT
5) WORKING WITH THROUGH PEOPLE
- A manager himself can’t perform the
actual work but
he is responsible to get things done
through the people.
- A manager leads, motivates, directs and
controls the human efforts to get the
desired results.
 NATURE OF MANAGEMENT
6 ) MANAGEMENT IS AN INTEGRATED ACTIVITY
– Integrates activities and functions of
various groups and departments

– Integration is required to achieve the

common goals
 NATURE OF MANAGEMENT
– 7) MANAGEMENT IS AN ART AND
SCIENCE
- Art concern with practical use of
managerial knowledge
- Science concern with systematic
development of knowledge
 NATURE OF MANAGEMENT
8) MANAGEMENT IS A UNIVERSAL ACTIVITY
- Subject that can be applied
. Every where
. At all the time
.Without any discrimination
 NATURE OF MANAGEMENT
9) MULTI-DISCIPLINARY SUBJECT
– Management is a knowledge enriched by
extracting & applying concepts, principles
and theories from other disciplines like
.Economics .Marketing .Sociology
.Psychology . Mathematics. Statistics