Principles of Magement

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PRINCIPLE OF MANAGEMENT Management defined Perceptive of Managers: There are many definitions of management but most perceptive managers are convinced that it is an organized effort of people whose purpose is to achieve the objectives and goals of an organization. Of course, it is not that simple. To gain a better understanding of management, let’s review the ideas and views expressed by academicians and practitioners. Management as a “Process”: McFarland defines management as “A process by which managers create, direct, maintain and operate purposive organization through systematic, coordinated, cooperative human efforts”. An important tern in this definition is “Process”. This term emphasis the dynamic or on going nature of management,…show more content…
What is Management? Introduction: Management is a vital aspect of the economic life of man, which is an organized group activity. A central directing and controlling agency is indispensable for a business concern. The productive resources – material, labour, capital etc. are entrusted to the organizing skill, administrative ability and enterprising initiative of the management. Thus, management provides leadership to a business enterprise. Without able managers and effective managerial leadership the resources of production remain merely resources and never become production. Under competitive economy and everchanging environment the quality and performance of managers determine both the survival as well as success of any business enterprise. Management occupies such an important place in the modern world that the welfare of the people and the destiny of the country are very much influenced by it. Definition: “Management is the process of getting things done through the efforts of other people in order to achieve the predetermined objectives of organization”. Management may also be define as: “The process by which execution of given purpose put into operation and supervise”. A concise statement: “The function of executive leadership anywhere”. Another statement: Management may be defined as “A technique by which the purpose and objectives of particular human group are determined, defined, clarified and completed” From

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