SHORT CUT TO LEARN NATURE AND SIGNIFICANCE OF MANAGEMENT

MEANING OF MANAGEMENT

Management is the process of getting things done with the aim of achieving goals effectively and efficiently.

 •  Effectiveness is concerned with doing the right task, completing activities and achieving goals.

 •  Efficiency means doing the task correctly and with minimum cost.

 Management must ensure that tasks are completed (effectiveness) at a minimum cost (efficiency).

FEATURES OF MANAGEMENT

My Charming Dad Is Giving Grand Party (MCD PIG) 1.MultiDimensional

2. Continous

3.   Dynamic

4.   Intangible

5.   Group Activity

6.   group Goals 7.Pervasive

IMPORTANCE OF MANAGEMENT

GDP depends upon Efficient Society

1.  Achieving Group Goals

2.  Dynamic Organisation

3.  Achieving Personal Objectives

4.  Increases efficiency

5.  Helps in Development of Society

MANAGEMENT AS AN ART

CAT

1.  Based on practice and Creativity

2.  Personalised Application

3.  Existence of Theoretical knowledge

MANAGEMENT AS SCIENCE------------- USP

1.  Universal validity

2.  Systematic Body of knowledge

3.  Principles based on Experimentation

NATURE OF COORDINATION-------------- Police Controls

DRUG

1.  Pervasive Function

2.  Continuous Process

3.  Deliberate Function

4.  Responsibility of All Managers

5.  Unity of Action

6.  Integrates Group Efforts

IMPORTANCE OF COORDINATION

Coordination is needed when organization grows in size,

has specialization and includes functional Differentiation.