Business Studies
(B.St.)
by
CA Sagar Kewlani
Contact:
72105-22222
98274-76655
Chapter – 1
Nature and Significance of Management
, Meaning of Management: Management is a:
process (sequence or series of steps) of
getting things done
effectively (completion of task in time) and
efficiently (doing task correctly with minimum cost, minimum wastage and
optimum utilisation of resources).
with the objective of achievement of organisational goal.
Characteristics of Management: Memory Capsule: Dynamic Group ne Intangible, Multi-Dimensional,
Continuous, Pervasive Goal kiye.
1. Goal Oriented:
Success of every organisation is measured by the extent of its achievement of
organisational goal.
Management unites the efforts of different individuals to achieve the organisational
goal.
2. All Pervasive:
Pervasive means universally applicable.
Management is necessary for all types of activities whether:
business or non-business,
government or non-government,
public or private,
USA or India.
3. Continuous process:
Management is an ongoing process of planning, organizing, staffing, directing and
controlling.
There is no break after controlling. Planning again starts after controlling ends.
4. Group Activity:
Management is a collection of different activities of different individuals.
Through coordination and teamwork management unites the activities of different
individuals.
Management functions cannot be performed in isolation.
5. Dynamic:
Every organisation interacts with its external environment. Organisation must change
itself according to changes in political, legal, economical, technological and social
environment to survive in the competitive world.
6. Intangible:
(B.St.)
by
CA Sagar Kewlani
Contact:
72105-22222
98274-76655
Chapter – 1
Nature and Significance of Management
, Meaning of Management: Management is a:
process (sequence or series of steps) of
getting things done
effectively (completion of task in time) and
efficiently (doing task correctly with minimum cost, minimum wastage and
optimum utilisation of resources).
with the objective of achievement of organisational goal.
Characteristics of Management: Memory Capsule: Dynamic Group ne Intangible, Multi-Dimensional,
Continuous, Pervasive Goal kiye.
1. Goal Oriented:
Success of every organisation is measured by the extent of its achievement of
organisational goal.
Management unites the efforts of different individuals to achieve the organisational
goal.
2. All Pervasive:
Pervasive means universally applicable.
Management is necessary for all types of activities whether:
business or non-business,
government or non-government,
public or private,
USA or India.
3. Continuous process:
Management is an ongoing process of planning, organizing, staffing, directing and
controlling.
There is no break after controlling. Planning again starts after controlling ends.
4. Group Activity:
Management is a collection of different activities of different individuals.
Through coordination and teamwork management unites the activities of different
individuals.
Management functions cannot be performed in isolation.
5. Dynamic:
Every organisation interacts with its external environment. Organisation must change
itself according to changes in political, legal, economical, technological and social
environment to survive in the competitive world.
6. Intangible:
