2024-2025 (Class 12 )
Chapter-1 Nature and significance of
management(notes)
(Business studies)
This notes are specially for (2024-2025)class 12 students
According to CBSE new syllabus of (2024-2025).
Meaning of management:-Management is the process in which a set of
functions (planning,organizing, staffing,directing, controlling)included and to get the
work done in an effective and efficient way.
Definition of management:-According to Harold koontz,"Management is
the art of getting things done through others and with formally organized groups."
Concept of management:-
Management is the process of planning, organizing, leading, and controlling resources
(such as human, financial, physical, and informational) to achieve organizational goals
effectively and efficiently. It involves setting objectives, formulating strategies, allocating
resources, coordinating activities, and evaluating performance to ensure the smooth
functioning and success of an organization.
Features of management:-
Management is a goal oriented process:-An organization has a set of basic
goals which are the basic reasons for its existence.
, Management is all pervasive:The use of management is not restricted to
business firms only,it is applicable to profit making,non profit making, business
organization or non business organization;even a hospital,school & house has to be
managed properly.
Management is Dynamic: Management practices evolve over time in response to
changes in the internal and external environment, including technological
advancements, market trends, and regulatory requirements.
Management is Integrative: Management integrates the efforts of people,
resources, and processes within an organization to achieve synergy and enhance
overall performance.
Management is Result-oriented: Management focuses on achieving desired
outcomes and measures success based on the extent to which organizational goals are
accomplished effectively and efficiently.
Objectives of management:-
1) Organizational objectives:- It refers to the utilization of human and physical
resources available in the organization considering the interest of all stakeholders.The
Organizational objectives there are Survival,profit and growth.
2) social objectives:-It refers to the consideration of the interest of the society
during managerial activities. Main social objectives there are :-
•To provide employment opportunities.
•To prevent environmental pollution.
•To contribute in improving living standard.
3) personal objectives:- Managers and employees within the organization also
have individual objectives that they seek to achieve. These may include career
advancement, skill development, job satisfaction, and work-life balance.
Importance of management:-
Chapter-1 Nature and significance of
management(notes)
(Business studies)
This notes are specially for (2024-2025)class 12 students
According to CBSE new syllabus of (2024-2025).
Meaning of management:-Management is the process in which a set of
functions (planning,organizing, staffing,directing, controlling)included and to get the
work done in an effective and efficient way.
Definition of management:-According to Harold koontz,"Management is
the art of getting things done through others and with formally organized groups."
Concept of management:-
Management is the process of planning, organizing, leading, and controlling resources
(such as human, financial, physical, and informational) to achieve organizational goals
effectively and efficiently. It involves setting objectives, formulating strategies, allocating
resources, coordinating activities, and evaluating performance to ensure the smooth
functioning and success of an organization.
Features of management:-
Management is a goal oriented process:-An organization has a set of basic
goals which are the basic reasons for its existence.
, Management is all pervasive:The use of management is not restricted to
business firms only,it is applicable to profit making,non profit making, business
organization or non business organization;even a hospital,school & house has to be
managed properly.
Management is Dynamic: Management practices evolve over time in response to
changes in the internal and external environment, including technological
advancements, market trends, and regulatory requirements.
Management is Integrative: Management integrates the efforts of people,
resources, and processes within an organization to achieve synergy and enhance
overall performance.
Management is Result-oriented: Management focuses on achieving desired
outcomes and measures success based on the extent to which organizational goals are
accomplished effectively and efficiently.
Objectives of management:-
1) Organizational objectives:- It refers to the utilization of human and physical
resources available in the organization considering the interest of all stakeholders.The
Organizational objectives there are Survival,profit and growth.
2) social objectives:-It refers to the consideration of the interest of the society
during managerial activities. Main social objectives there are :-
•To provide employment opportunities.
•To prevent environmental pollution.
•To contribute in improving living standard.
3) personal objectives:- Managers and employees within the organization also
have individual objectives that they seek to achieve. These may include career
advancement, skill development, job satisfaction, and work-life balance.
Importance of management:-
