Topics
Nature and Significance of Management
- Case Study: Tata Group – Excellence in Management
- Concept of Management
- Characteristics of Management
- Objectives of Management
- Importance of Management
- Nature of Management
- Management as an Art
- Management as a Science
- Management as a Profession
- Levels of Management
- Functions of Management
- Coordination as an Essence of Management
- Management in the Twenty-First Century
Principles and Functions of Management
Business Finance and Marketing
Principles of Management
- Case Study: Toyota's Guiding Principles of Management
- Evolution of Management Principles
- Concept of Management Principles
- Nature of Management Principles
- Significance of Management Principles
- Taylor's Scientific Management Theory
- Principles of Scientific Management
- Techniques of Scientific Management> Functional Foremanship
- Techniques of Scientific Management> Standardisation and Simplification of Work
- Techniques of Scientific Management> Differential Piece Wage System
- Fayol’s Principles of Management
- Comparison of Taylor's and Fayol’s Principles.
Business Environment
- Case Study: Dharamveer Kamboj's Entrepreneurial Journey
- Concept of Business Environment
- Importance of Business Environment
- Dimensions of Business Environment
- External Factors> Economic Environment
- External Factors> Social Environment
- External Factors> Technological Environment
- External Factors> Political Environment
- External Factors> Legal Environment
- Economic Environment in India
- The 1991 Economic Crisis and Reforms
- Liberalisation
- Privatisation
- Globalisation
- Demonetisation
Planning
Organising
- Case Study: Wipro's Organisational Restructuring for Growth
- Organising
- Steps in the Process of Organising
- Importance of Organising
- Structure of Organisation
- Types of Organisation Structure > Functional Structure
- Types of Organisation Structure > Divisional Structure
- Comparison Between Functional Structure and Divisional Structure
- Formal Organisation
- Informal Organisation
- Comparison between Formal Organisation and Informal Organisation
- Concept of Delegation of Authority
- Concept of Decentralization
- Comparison Between Delegation and Decentralization
Staffing
- Case Study: Management of Human Resources at Infosys
- Staffing
- Staffing as Part of Human Resource Management
- Evolution of Human Resource Management
- Staffing Process
- Aspects of Staffing > Recruitment
- Sources of Recruitment
- Internal Sources
- External Sources
- Aspects of Staffing > Selection
- Aspects of Staffing > Training and Development
- Methods of Training
Directing
- Case Study: Leadership Development at Ford Motor Company
- Directing
- Principles of Directing
- Elements of Directing
- Supervision
- Motivation
- Motivation> Motivation Process
- Motivation> Importance of Motivation
- Motivation > Maslow’s Need Hierarchy Theory of Motivation
- Motivation> Financial and Non-Financial Incentives
- Leadership
- Communication
- Communication> Formal Communication
- Communication> Informal Communication or Grapevine
- Barriers to Communication
- Improving Communication Effectiveness
Controlling
Financial Management
- Case Study: Tata Steel–Corus Acquisition
- Concept of Business Finance
- Concept of Financial Management
- Financial Decisions> Investment Decision
- Financial Decisions> Financing Decision
- Financial Decisions> Dividend Decision
- Concept of Financial Planning
- Importance of Financial Planning
- Capital Structure
- Factors affecting the Choice of Capital Structure
- Fixed Capital
- Working Capital
Financial Markets
- Concept of Financial Market
- Money Market
- Capital Market
- Primary Market
- Secondary Market/Stock Exchange
- Distinction Between Capital Market and Money Market
- Distinction between Primary and Secondary Market
- Functions of Stock Exchange
- Trading Procedure of Stock Exchange
- Depository Services
- Demat System
- Securities and Exchange Board of India (SEBI)
Marketing Management
- Concept of Marketing
- Concept of Marketing Management
- Marketing vs. Selling
- Marketing Management Philosophies
- Functions of Marketing
- Concept of Marketing Mix
- Marketing Mix> Product
- Classification of Products> Consumer Products
- Classification of Products> Industrial Products
- Branding
- Packaging
- Labelling
- Marketing Mix> Pricing
- Marketing Mix> Physical Distribution
- Marketing Mix> Promotion
- Promotion Mix
- Advertising
- Personal Selling
- Sales Promotion
- Public Relations
- Distinction Between Advertising and Personal Selling
Marketing
- Concept of Financial Market
- Types of Financial Market
- Money Market
- Capital Market
- Primary Market
- Secondary Market/Stock Exchange
- Securities and Exchange Board of India (SEBI)
- Distinction Between Capital Market and Money Market
- National Stock Exchange of India (NSE)
- Overview of Marketing
Consumer Protection
- Case Study: Consumer Protection in Banking Services
- Concept of Consumer Protection
- Importance of Consumer Protection
- Consumer Protection Act, 2019
- Concept of Consumer
- Consumer Rights
- Responsibilities of Consumers
- Ways and Means of Consumer Protection
- Redressal Agencies Under The Consumer Protection Act
- Role of Consumer Organisations and NGO's
- Overview of Consumer Protection
Estimated time: 15 minutes
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Meaning
- Management is the process of getting things done with the help of others and through people.
- It involves working with and through people to accomplish organizational goals.
- Management is needed wherever people work in groups for a common purpose.
- It is described as a creative force that helps in the best utilization of available resources.
Maharashtra State Board: Class 11
Definition: Management
- Mary Parker Follett: “Management is an art of getting things done through others.”
- Henry Fayol: “To manage is to forecast and plan, to organize, to command, to coordinate, and to control.”
- Fredrick Winslow Taylor: “Management is knowing exactly what is to be done and seeing that it is done in the best possible manner.”
- George Terry: “Management is the process consisting of planning, organizing, actuating, and controlling, performed to determine and accomplish the objectives by the use of people and resources.”
- Harold Koontz and Heinz Weihrich: “Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.”
- Robert L. Trewelly and M. Gene Newport: “Management is defined as t he process of planning, organising, actuating and controlling an organisation’s operations in order to achieve coordination of the human and material resources essential in the effective and efficient attainment of objectives.”
- Kreitner: “Management is the process of working with and through others to effectively achieve organisational objectives by efficiently using limited resources in the changing environment.”
CBSE: Class 12
Effectiveness vs. Efficiency
| Aspect | Effectiveness | Efficiency |
|---|---|---|
| Meaning | Doing the right tasks / achieving the set goals | Using minimum resources with minimum cost |
| Focus | Goal achievement | Resource utilization |
| Relationship | Concerned with what is done | Concerned with how it is done |
- Management aims to balance both effectiveness and efficiency.
- Efficiency without effectiveness (doing wrong things well) is wasteful.
- Effectiveness without efficiency (doing right things but wastefully) is costly.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Characteristics
- Management is an ancient and universal activity — practised since early family and business organisation.
- Management is required in all types of organisations — business, family, and others.
- Managers guide diverse efforts of different people toward common objectives.
- The role of a manager is to optimise resources — human, material, and financial.
- Management involves the functions of: planning, organising, staffing/actuating, and controlling.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Key Point Summary
- Management is the process of getting things done with and through people to achieve organisational goals.
- It is a universal and ancient activity applicable to all group situations.
- A manager must balance effectiveness (achieving goals) and efficiency (minimising resource use).
- Management involves four key functions: planning, organising, actuating, and controlling.
- The ultimate aim of management is to optimise scarce resources in a changing environment.
- Management acts as a creative force that coordinates human and material resources for goal attainment.
- Wherever people work in groups, management is required to direct their efforts toward shared objectives.
Test Yourself
Related QuestionsVIEW ALL [47]
| Diligent developers, a website design company in Bangalore is a startup initiative of Mr. Maniraj which aims at achieving a profit margin of 10% in its first year. Mr. Maniraj appointed Mr. Advait as the Digital marketing Head, Mr. Kiyansh as the head of Backend department and Mr. Nirved headed the Graphics Designing Department. Since each head was specialised in specific skills, it resulted in increased efficiency and better coordination. However, problems arose when Mr. Advait started considering group objectives superior to organisational objectives and stopped exchanging information with Mr. Kiyansh and Mr. Nirved. The company had to bear the brunt of lack of coordination and was unable to achieve its objectives |
- Identify and state the organisational structure adopted by the company.
- State two benefits and two limitations of the identified structure highlighted in the above case.
