Definition, Nature, and Scope of ManagementManagement is regarded as the most important of all human activities. It may be called the practice of consciously and continually shaping organizations. Every organization has people who are entrusted with the responsibility of helping the organization ach...
Purpose and Importance of ManagementNo enterprise can run without management. Some people may say that the main purpose of management is to make a profit. For most business firms, an important purpose is the creation of a surplus. Management is to establish an environment in which people can accompl...
Managing: Art or Science?Managing like any other practice - whether engineering, accountancy, law, or medicine - is an art. Artistic application of management know-how is evident. It is understood that managing is doing things artistically in the light of the realities of a situation. But a modern m...
Types of Managerial SkillsRobert L. Katz, a teacher and business executive, has popularised a concept developed early in this century by Henri Fayol, a famous management theorist16 and father of modern management. Fayol identified three basic skills - technical skills, human skills, and conceptual s...
IntroductionA process is a systematic way of doing things. We refer to management as a process to emphasize that all managers, irrespective of their aptitude or skill, engage in some interrelated functions to achieve their desired goals. In this lesson, we will briefly describe the functions that co...
Theories of Management and History ThereofBoth theory and history of management are useful to the practicing manager. Theories help us by organizing information and providing a systematic framework for action. A theory is a simple blueprint or a road map guiding the manager toward achieving organiza...
Behavioral and Human Relations ApproachThe criticism of scientific and administrative management advocated by Taylor and Fayol respectively gave birth to the behavioural approach to management. Several behavioral scientists criticized them for their indifference and insensitiveness to the human side...
Systems Approach to Management ThoughtA system is a collection of parts that operate inter-despondently to achieve a common purpose. The parts of a system are sub-systems. These subsystems are functionally related to each other and the total system. An organization may, therefore, be viewed as a sys...
Meaning of PlanningReaders have already been introduced to five essential managerial functions, namely, planning, organizing, staffing, leading, and controlling. This is also the widely accepted conceptual framework of management. Planning is the most basic of all managerial functions. It is the pro...
Strategy and Strategic PlanningStrategy is a comprehensive concept and, for this reason, it is often used in different ways. But this difference creates a major problem when some writers focus on both the endpoints (mission, goals, objectives) and the means of achieving them (policies and plans), bu...
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