WHAT IS MANAGEMENT

DEFINITION:
• F.W. Taylor - “Art of knowing what you want to do and then seeing that it is done the best and cheepest way”.

• Henry Fayol – “To Manage is to forecast, to plan, to organise, to command, to co-ordinate and to control”.

• Peter F.Drucker –”Management is work and as such it has its own skills, its own tools and its own techniques”.

• Koontz -  “Management is the art of getting things done through and with people”.

Objectives of Management

1. Maximum Results with Minimum Efforts 
2. Higher Efficiency
3. Relations with Suppliers
4. Satisfaction of Customers
5. Contribution to National Goals
6. Better Working Conditions
7. Better Workforce

Importance of Management

• Accomplishment of 

Goals

• Effective Utilisation 

of Resources

• Development of 

Society and Nation

• Harmony in Work 

among employees

• Providing Vision and 

Foresight

• Sound Organisation 

to accomplish 

objectives.

• Help the Employees 

in Achieving Personal 

objectives

• Administration: Concerned with laying down of 

  corporate policy, obtaining finance, production 
  & distribution.

• Management: Concerned with actual execution 

  of policies policies within limits set by administration administration..
• Organization: Combines the work in such a way 

  with individuals/groups that duties formed 
  provide best possible application of available 

  effort