Concept and Features of Management : XII Business Studies

Management is the process of getting things done through others effectively and efficiently.
Study Material for XII Com

1. Business studies XII Commerce Welcome to Pratap Naik Classes Additional Material @ pratapnaikresources.wordpress.com

2. Management Subtitle Session 1 : Concept of Management

3. Concept of Management Management is the art of getting things done through others . Process is a well directed sequences of steps to be performed to getting things done through other Effectiveness is concerned with doing the right task, completing activities and achieving goals Efficiency means doing the task correctly and with minimum cost. Management is the process of getting things done through others effectively and efficiently . Morden Concept Traditional Concept. Manage Manager Management

4. Effectiveness Vs Efficiency 1. Initiates Action: It helps to initiate action by the people in the organisation towards attainment of desired objectives. The employees start working only when they get instructions and directions from their superiors. It is the directing function which starts actual work to convert plans into results. 2. Integrates Employee’s Efforts : All the activities of the organisation are interrelated so it is necessary to coordinate all the activities. It integrates the activities of subordinates by supervision, guidance and counseling. 3. Means of motivation :I t motivates the subordinates to work efficiently and to contribute their maximum efforts towards the achievement of organisational goals by satisfying their needs. 4. Facilitates change: Employees often resist changes due to fear of adverse effects on their employment and promotion. Directing facilitates adjustment in the organisation to cope with changes in the environment. Directing instills the spirit of cooperation and commitment among work force. 5. Stability and balance in the organisation: Managers while performing directing function instruct, guide, supervise and inspire their subordinates in a manner that they are able to strike a balance between individual and organisational interests. Basis of Difference Effectiveness Efficiency 1. Meaning It refers to completing the job on time , no matter whatever the cost. It refers to completing the job in the cost-effective manner . 2. Objective To achieve end result on time. To conduct cost-benefit analysis. 3 . Main Consideration Time Cost

5. Features / Characteristics of Management 1. Management is a Goal-oriented Process An organisation has a set of basic goals which are the basic reason for its existence. Management unites the efforts of different individuals in the organisation towards achieving these goals. 2. Management is All Pervasive The activities involved in managing an enterprise are common to all organisations whether economic, social or political. 3. Management is Multidimensional: Management is a complex activity that has three main dimensions. Management of Work: (b) Management of People (c) Management of Operations

6. Features / Characteristics of Management 3. Management is Multidimensional: (a) Management of Work All organisations exist for the performance of some work. Management translates this work in terms of goals to be achieved and assigns the means to achieve it. (b) Management of People Managing people has also two dimensions It implies dealing with employees as individuals with diverse needs and behavior; It also means dealing with individuals as a group of people . (c) Management of Operations: Every organization has some basic product or service that requires a production process . This is interlinked with both the management of work and the management of people.

7. Features / Characteristics of Management 4. Management is a Continuous Process The process of management is a series of continuous, composite, but separate functions. Planning, Organising , Staffing , Directing and Controlling These functions are simultaneously performed by all managers all the time. 5. Management is a Group Activity An organisation is a collection of diverse individuals with different needs. Management ensures team work and coordination of individual effort in a common direction. 6. Management is a Dynamic Function Management is a dynamic function and has to adapt itself to the changing environment. In order to be successful, an organisation must change itself and its goals according to the needs of the environment. 7. Management is an Intangible Force Management is an intangible force that cannot be seen but its presence can be felt in the way the organisation functions.

8. Features / Characteristics of Management 1. Management is a goal-oriented process 2. Management is all pervasive 3. Management is multidimensional: (a) Management of work (b) Management of people: (c) Management of operations 4. Management is a continuous process 5. Management is a group activity 6. Management is a dynamic function 7. Management is an intangible force

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