 Management can be defined as the process of administering and controlling the

affairs of the organization, irrespective of its nature, type, structure and size.
 It is an act of creating and maintaining such a business environment wherein the members
of the organization can work together and achieve business objectives efficiently and
effectively.
 Management acts as a guide to a group of people working in the organization and
coordinating their efforts, towards the attainment of the common objective.
 It is concerned with optimally using 5M’s, i.e. men, machine, material, money and
methods and, this is possible only when there is proper direction, coordination and
integration of the processes and activities, to achieve the desired results.

Definitions of Management

Definition Given by
"Management is a distinct process consisting of planning, organizing, actuating and
George R.
controlling, performed to determine and accomplish stated objectives by the use of
Terry
human beings and other resources"
"To manage is to forecast and to plan, to organize, to command, to coordinate and to Henry
control" Fayol
"Management is a multi-purpose organ that manages business and manages workers Peter
and work" Drucker

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them:

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Need for Management

 Achievement of group goals: Management is needed wherever teamwork is done to

manage conflicts, align team members to a common goal, and motivate them to perform
best.
 Establishing structured and sound organization: A well-structured organization will
be transparent, fair, and profitable. Management is needed to standardize, structure, and
implement ideas as per plans.
 Reducing costs and increasing efficiency: Getting the best from the available resources
is only possible through ‘effective’ management strategies.
 Trying out new things: Management is needed to promote innovation and take
calculated risks while implementing new ideas, thereby increasing the probability of
success.
  Adaptation to changes for survival and innovation: Management brings adaptability to
respond to the dynamics of the competitive environment and revive the system
accordingly.

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 Delegation of Work in order to deliver a time-bound objective: Effective delegation

of work to the right set of people is necessary for completing targets on time, which is
possible only if tasks and people are managed in the right way.
 Improvement in own skillset: Constant updating of one's skillset according to market
dynamics contributes to business improvement — possible only with proper planning,
vision, and management.

Concept of Management

 Management as an Activity: Group activity directed toward achieving decided goals,

including interpersonal, decisional, and informative activities.
 Management as a Process: Set of interrelated functions including planning, organizing,
staffing, directing, and controlling.
 Management as an Economic Resource: Important factor of production as it combines
and coordinates all available resources.
 Management as a Team: A team of people responsible for directing and coordinating
others' efforts toward the common goal.
 Management as an Academic Discipline: A specialized branch dealing with principles
and guidelines for effective organization management. It offers a bird's-eye view and a
rewarding career.
 Management as a Group: Refers to people in managerial positions performing
managerial functions.

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Management as a Science

 It refers to the systematic study of management principles and practices based on

observation, experimentation, and analysis.
 Guided by four major features:
1. Universally Accepted Principles: Ensure general applicability across
organizations.
2. Experimentation and Observation: Test and monitor outcomes.
3. Cause and Effect Relationship: Understand what happens and why.
4. Test of Predictability and Validity: Confirm practical application of theories.
  Management is a body of knowledge, but not as exact as natural sciences due to
unpredictable human behavior.

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Management as an Art

 Involves applying skills and knowledge to get desired results.

 Key elements: Practical knowledge, personal skill, result-oriented approach, creativity,
and continuous improvement through practice.

Management as a Profession

 Requires specialized knowledge, academic preparation, and association with a

professional body.
 Not always considered a full-fledged profession like medicine or law.

Characteristics of Management

 Universal
 Goal Oriented
 Continuous Process
 Multi-dimensional- it involves managing not just tasks and operations, but also people and
the overall process of achieving organizational goals
 Group Activity
 Dynamic Function
 Intangible Force

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Key Points about Management

 Management is a process and not just a body of individuals.

 Management takes place through people; hence it is a social process.
 Management is result-oriented and action-based.
 Management is a group activity directed toward a common goal.
  Management is an intangible invisible force or spirit which functions and guides people.
 Management integrates financial, physical, and human resources to get the best output.
 It is both an Art and Science — What to achieve (Science) and how to accomplish (Art).
 Management can be defined as a process, discipline, activity, group, profession, art,
and science.
 Management is pervasive, universal, and comprehensive, present at all levels.
 Management is innovative, dynamic, and situational.
 Management and ownership are not the same; managers manage on behalf of the
owners.
 Management is dynamic and influenced by economic, social, political, and human
factors.

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Objectives of Management

Management objectives can be broadly classified into three categories:

1. Organizational Objectives

 Apply to the entire organization, considering the benefits of all stakeholders like
employees, management, customers, and government.
 Also includes economic benefits related to survival, growth, and profit of the org.

2. Social Objectives

 Concerned with addressing societal needs — problems, expectations, and benefits —

while performing managerial tasks.
 Examples:
o Providing employment opportunities
o Saving the environment from pollution
o Contributing to better living standards

3. Personal/Individual Objectives

 Focus on employee satisfaction.

 Include developing human-friendly policies, providing fair pay, profit sharing, and
good working conditions.

Other Notable Objectives of Management:

 Maximizing output and minimizing costs through optimal resource use

 Mutual benefits for employers and employees via smooth coordination
  Promoting social equality and justice through improved productivity and employment
management

• Increasing Effectiveness available resources through best combination and application

• Minimizing Risk through forecasting, communication and flexibility
• Future Planning through evaluating present performance, vision and improvisation.

LEVEL OF MANAGEMENT

Top Level Management

Consists of CEO, board of directors, Managing/ Executive Director who possess ultimate
authority over goals and policies of organization. Role of top management includes:

• Laying down objectives, vision, mission and policies.

• Issuing required instructions for preparing budgets, procedures, and schedules etc.
• Strategic planning and policy formulation.
• Appointment of middle level managers and controlling activities of all departments.
• External networking and connections.

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Middle Level Management

Consisting of departmental and branch managers, they are accountable to top management for
smooth functioning and performance of department. Generally, in smaller companies there is
only one layer of middle level managers but in bigger organizations junior and senior levels of
middle managers may be present.

Roles and responsibilities of middle level managers are as follows:

 Executing activities and policies in line with objectives and direction of top management.
 Making plans for organizational sub-units.
 Development and Employment of Lower level management.
 Communication channel between top and lower level management.
 Evaluating performance of lower level management.
 Responsible for directing and coordinating activities within the department.
 Motivating lower level managers for performing better.
Lower Level Management

Consisting of supervisors, section officers and superintendent, these executives work largely
with personal oversight and direction of operative managers/ employees.

Their activities include:

 Assigning jobs to different workers and guiding them for day to day activities
 Responsible for both, quality and quantity of production
 Communicating workers’ problems and challenges to higher management and their
objectives to workers
 Responsible for training workers
 Help in grievance handling of workers
 Arrange necessary inputs in terms of machines, materials for getting things done
 Preparing reports about performance of workers and assessing them
 Ensuring discipline in organization

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Functions of Management

 Planning- primary func, intellectual process, determines the objective,

involves decision making, continuous, pervasive
o PROCESS :