Introduction to mgt

1. Introduction to mgt

2. 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.”

3. 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

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

5. 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