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Explain the concept of management. - Commerce

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प्रश्न

Explain the concept of management.

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उत्तर

The substance of management should be identified as a process. A process is something that what a person does in the context of his individual duties and responsibilities assigned by his or her immediate higher authority.

  • There are twin purposes of the management process:
  1. Maximum productivity or profitability
  2. Maximum human welfare and satisfaction.
  • There are five parts of management as a process:
  1. Co-ordination of resources: The manager of an enterprise must effectively coordinate all activities and resources of the organization, namely, men, machines, materials, and money, the four M’s of management.
  2. Management is a Process: The manager achieves proper coordination of resources by means of the managerial functions of planning, organizing, staffing, directing (or leading and motivating), and controlling.
  3. Management is a Purposive Process: It is directed toward the achievement of predetermined goals or objectives. Without an objective, we have no destination to reach or a path to follow to arrive at our destination, i.e., a goal, both management, and organization must be purposive or goal-oriented.
  4. Management is a Social Process: It is the art of getting things done through other people.
  5. Management is a Cyclical Process: It represents a planning-action-control-replanning cycle, i.e., an ongoing process to attain the planned goals. 
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अध्याय 1: Principles of Management - Exercise [पृष्ठ १०]

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सामाचीर कलवी Commerce [English] Class 12 TN Board
अध्याय 1 Principles of Management
Exercise | Q IV. 1. | पृष्ठ १०

संबंधित प्रश्न

State any three objectives of management


Answer the following question.
Mita has a successful ice cream business at Bikaner, namely "Smart flavours' ice creams are utterly delicious. She makes ice creams from fresh milk and the same are available in a wide range of flavours and packs. She sets viable business objectives and works with the same in mind in order to ensure that the customers will come back for purchasing.
Having the first-mover advantage, her business was doing well. To earn higher profits, she started cutting costs. This would sometimes lead to delay in delivery and the ice cream was not reaching the market in time. Over a period of time, the demand for her ice cream declined and because of it, the competitors entered the market. She lost some of her market share to competitors.
At the beginning of the summer season, she got back to backorder for the supply of 4,000 ice cream packs of different flavors for special occasions. To ensure that the task was completed and orders delivered in time she hired additional workers. She was, thus able to produce and deliver the ice cream packs but at a high production cost. While completing activities and finishing the given task for achieving goals, Mita realized that she was ignoring one of the important aspects of management.
Identify the aspects of management that has been ignored by Mita. Also, explain the same with the help of an example.


According to the nature of management, Management can be considered as ______.


Read the following text and answer the following question on the basis of the same:

Sana is the branch manager of ABC Handicrafts Pvt. Ltd. The company’s objective is to promote the sales of Indian handloom and handicraft products. It sells fabrics, furnishings, ready-mades and household items are made out of traditional Indian fabrics.

Sana decides quantities, variety, colour and texture of all the above items and then allocates resources for their purchase form different suppliers. She appoints a team of designers and crafts people in the company, who developed some prints for bed covers in bright colour on silk. Although the products looked very attractive and impressive, they were relatively expensive on the front of affordability for an average customer.

Sana suggested that they should keep the silk bed covers for special festive occasions and offer the cotton bed covers on a regular basis to keep costs under control.

In the above case “company’s objective is to promote the sales of Indian handloom and handicraft products.”
The above line focus on which feature of management?


______ is used extensively for all types of activities and mainly for taking charge of different activities in any enterprise. 


Design phase comprises of ______


Management is the process of designing and maintaining an environment in which ______. work together ______, efficiently and effectively accomplishing selected aims. 


Read the following text and answer the questions given below:

Vinay was the Chief Operating Officer of 'Easy Solutions Ltd.', a company providing advanced software solutions to Indian Defence Services. They had been carrying on business successfully for the last twelve years and earning enough profits. But from the last one year, they realised that though the business is getting big orders which are being fulfilled on time, even then the revenues kept on decreasing. Vinay was not-able to find out where the problem was. He started keeping a close check on the progress of activities as he could sense that something was wrong. He wanted to take some action before any major damage could be done to the business. Vinay appointed a cyber security expert who monitored the company's processes and found out that the computer operator was deleting the entries from the computers and pocketing the revenues. He was caught and handed over to the police. This created an atmosphere of order and discipline in the organisation and helped in minimizing dishonest behaviour on the part of the employees.

What did the analysis by Vinay reveal?


Management is a/an ______ process as it is an ongoing and never-ending process. 


Assertion (A): Management is concerned with efficient use of resources.

Reasoning (R): For management both efficiency and effectiveness need to be balanced.


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