Management: Concept & Function
TS 03 Unit 1 Management : Concept and Function 1.1 What is management? Management refers to the organizing and directing of human activities for attaining a definite objective. It is a process through which all the resources are organised and utilized to attain maximum efficiency. In its broad sense , management may include the following: (i) Formulations of plan , policies and objectives, (ii) Securing men, material, machinery, money and methods for this achievement, (iii) Putting all them into operation, (iv) Directing and motivating the men at work, (v) Supervising and controlling their performance, and (vi) Providing maximum satisfaction and service to employees and public at large. Features: (i) Management is a dynamic process: It includes a series of interconnected steps for achieving the business goals and objectives. It starts with planning, where objectives are set, strategies devised and resources are allocated. (ii) Efficient Performance:...