Introduction to mgt

Definition of Management Acc. to Mary Parker Follett: “Management is the art of getting things done through others.” Acc. to Harold Koontz: “Management is the art of getting things done through and with people in formally organized groups.” Acc. to Henri Fayol: “To manage is to forecast and to plan, to organize and to command, to coordinate and to control.” Acc. to D.J. Clough: “Management is the art and science of decision-making and leadership.” Acc. to Peter Drucker: “Management is a multipurpose organ that manages business and managers and manages workers and work.” Acc. to Henry L. Sisk: “Management is the coordination of all resources through the process of planning, directing, and controlling in order to attain stated goals.” Acc. to Appley L. : “Management is the accomplishment of results through the efforts of others.”

Management Management is a new discipline which had drawn from Economics, Sociology, Psychology, Anthropology, Statistics, History. Thus mgt is viewed differently by different people. - Economists see mgt as a factor of production - Sociologists see it as a class or group of persons - Managers treat it as a process

Features (Nature) of mgt : Mgt is universal Mgt is purposeful Mgt is a unifying force Mgt is a social process Mgt is multidisciplinary Mgt is a continuous process Mgt is intangible Mgt is situational Mgt is essentially an executive function Mgt is an art as well as a science

Importance of management Achievements of org goals Optimum utilisation of resources Develops managerial abilities of manager Balance between multiple goals Economic and social development Co-ordination between individual and organisational goals Face competition Social upliftment Helps to reform govt. and society Helps in social innovations Foundation to organisation Environmental analysis