Topics
Principles and Functions of Management
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
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
- 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
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
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]
Match the CHARACTERISTICS of management in Column I with their correct EXPLANATIONS in Column II :
| Column I | Column II | |
| (i) | Goal-oriented process | Management is a complex activity involving management of people, work and operations. |
| (ii) | Group activity | Some aims and objectives are the basic reason for existence of an organisation. |
| (iii) | Multi-dimensional | Diverse individuals with different needs work together to fulfill the common organisational goal. |
