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Principles of Management Unit - I

Management is the process of guiding human and physical resources to achieve organizational goals. It integrates different resources and is concerned with continuous problem solving. Management is necessary in all types of organizations to direct efforts towards common goals. It involves coordinating group efforts rather than individual efforts to achieve predetermined objectives. Some key principles of management are that it is goal-oriented, integrates various resources, is an ongoing process, exists in all organizations, and involves group rather than individual activity.

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T S Kumar Kumar
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192 views1 page

Principles of Management Unit - I

Management is the process of guiding human and physical resources to achieve organizational goals. It integrates different resources and is concerned with continuous problem solving. Management is necessary in all types of organizations to direct efforts towards common goals. It involves coordinating group efforts rather than individual efforts to achieve predetermined objectives. Some key principles of management are that it is goal-oriented, integrates various resources, is an ongoing process, exists in all organizations, and involves group rather than individual activity.

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T S Kumar Kumar
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© © All Rights Reserved
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Principles of Management Unit – I

FEATURES OF MANAGEMENT

Management is an activity concerned with guiding human and physical resources such that
organizational goals can be achieved. Nature of management can be highlighted as: -

1. Management is Goal-Oriented: The success of any management activity is assessed


by its achievement of the predetermined goals or objective. Management is a purposeful
activity. It is a tool which helps use of human & physical resources to fulfill the pre-
determined goals. For example, the goal of an enterprise is maximum consumer
satisfaction by producing quality goods and at reasonable prices. This can be achieved
by employing efficient persons and making better use of scarce resources.
2. Management integrates Human, Physical and Financial Resources: In an
organization, human beings work with non-human resources like machines. Materials,
financial assets, buildings etc. Management integrates human efforts to those resources.
It brings harmony among the human, physical and financial resources.
3. Management is Continuous: Management is an ongoing process. It involves
continuous handling of problems and issues. It is concerned with identifying the
problem and taking appropriate steps to solve it. E.g. the target of a company is
maximum production. For achieving this target various policies have to be framed but
this is not the end. Marketing and Advertising is also to be done. For this policies have
to be again framed. Hence this is an ongoing process.
4. Management is all Pervasive: Management is required in all types of organizations
whether it is political, social, cultural or business because it helps and directs various
efforts towards a definite purpose. Thus clubs, hospitals, political parties, colleges,
hospitals, business firms all require management. Whenever more than one person is
engaged in working for a common goal, management is necessary. Whether it is a small
business firm which may be engaged in trading or a large firm like Tata Iron & Steel,
management is required everywhere irrespective of size or type of activity.
5. Management is a Group Activity: Management is very much less concerned with
individual’s efforts. It is more concerned with groups. It involves the use of group effort
to achieve predetermined goal of management of ABC & Co. is good refers to a group
of persons managing the enterprise.

DEPARTMENT OF BUSINESS ADMINISTRATION - JAWAHAR SCIENCE COLLGE, BLOCK -14, NEYVELI 1

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