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description
S6 Course

Principles of Management

What is management?

  • Management is a process of designing and maintaining an environment in which individuals working together in groups, efficiently accomplish selected aims.
  • Management is the process of achieving goals and objectives effectively and efficiently through and with the people.
  • Managing is concerned with productivity, which implies effectiveness and efficiency.

Manager Functions
Carry out managerial functions of planning, organizing, staffing, leading and controlling.

Aim of Manager
To create a surplus.

Organization

A group of people working together to create a surplus.

  • Profit making/ buisness org.
  • Non Profit/ Service org.

Productivity

  • The output-input ratio within a time period with due consideration of quality.
  • Is a function of effectiveness and efficiency.
  • Effectiveness: The achievement of objectives.
  • Efficiency: The achievement of the ends with least amount of resources