1. Nature and Concept of Management

2. Topics of the Presentation
After this presentation you will be able to learn-
Definition of Management
Functions of Management
Management as a Science
Management as an Art

5. Definition of Management
Is a distinct process of planning, organizing, staffing, directing, and controlling (POSDICON), performed to determine and accomplish stated objectives by the use of human being and other business resources.

6. Functions of Management
Planning
Organizing
Staffing
Directing
Controlling

7. 1. Planning It is related to decision-making. It involves forecasting.
Refers to the formulation of objectives, programs, policies, procedures, rules and regulations, in order to achieve the goals of business.
It is related to decision-making.
It involves forecasting.
Planning is the first step which is basically a logical thinking process that decides what needs to be done in order to achieve organization's goals and objectives. It focuses on the broader perspective of the business as well as taking into consideration, the tactical
methods to get the
desired results.

8. 2. Organizing
Is the grouping together of people, establishing relationship among them, and defining the authority and responsibility that the personal have in the use of company’s material resources to attain predetermined goals and objectives.
Organizing is about setting up and maintaining the internal organizational structure in accordance with objectives mentioned in planning stage. It
also involves assigning
tasks to various individuals
for the larger goal of
organization's missions
and objectives.

9. 3. Staffing
Involves filling and keeping filled the positions provided in the organization structure.
Staffing is the process of choosing right people for organization. It can be associated with human resource management and involves recruitment, hiring, training and compensating the workforce.

10. 4. Directing
is guiding people in the organization through the means of counseling, instructing, motivating.

11. 5. Controlling
Is the process of measuring and correcting the activities of subordinates and the company itself to assure conformity to plans.
Controlling The process of leading and influencing the task related activities of group members or an entire
organization.

12. Management is an "ART" because it:
Through human efforts.
Feels
Guesses
Describes
Expresses
Communicates &
Practices

13. Management is a "SCIENCE" because it:
Is a systematic body of knowledge
Predicts
Defines
Measures &
Utilizes knowledge

14. Summary Definition of Management The Functions of Management
Management is an Art
Management is a Science

15. Activity: Write your discussion in a ½ sheet of paper ( by pair)
Question:
Management has often been described as a universal process, meaning that the basics of management are transferable and applicable in almost any environment.
Comment on this statement.