Principles and Practices of Management

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PRINCIPLES AND PRACICE OF MANAGEMENT( Unit-1) MANAGEMENT
Management makes remarkable differences between the companies regarding their performance in term of productivity , products, sales, profitability, service to the customer, employee welfare etc. Management plays a vital role in deciding the destiny of business as well as non-business organisations.
Concept Of Management- Management is the process of optimizing human, material ,and financial contribution for the achievement of the organizational goal.
According to Koontz and Weihrich- Management is the process of
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Staffing
Staffing is acquiring, developing, utilizing and compensating human resources necessarily to achieve help the process of converting inputs into output and achieving customer satisfaction.

Controlling
Controlling is to make sure that the organization is moving towards its mission and objectives.
Directing
Directing involves leading, influencing and motivating the people to perform organizational task and to convert input into output. It includes: * Motivation * Leadership * communication

MANAGEMENT : A SCIENCE OR AN ART?
As a science: Science is a body of knowledge developed systematically, based on observation, measurement, experimentation and drawing inferences based on data. The knowledge can be verified through cause-effect relationship. The knowledge provides principles ,theories and laws.
Features Of Science: Management satisfies the characteristics of science. Science is characterized by the following features:

* Clarity of concepts. * Scientific method. * Clarity of theory. * Cause and effect relationship. * Systematized theory of knowledge. * Universal application.

Principle Principle Principle Theory

SCIENTIFIC METHOD
Searching for facts and causal relationships Testing the hypothesis

Concept

Concept
Particulars
Particulars
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