Topics
Principles and Functions of Management
Nature and Significance of Management
- Concept of Management
- Objectives of Management
- Importance of Management
- Management as an Art, Science and Profession
- Levels of Management
- Functions of Management
- Coordination as an Essence of Management
- Management as an Art
- Management as a Science
- Management as a Profession
- Overview of Nature and Significance of Management
Principles of Management
- Concept of Management Principles
- Significance of Management Principles
- Henry Fayol's Administrative Theory of Management
- Frederick Winslow Taylor's Scientific Management Theory
- Standardisation and Simplification of Work
- Overview of Principles of Management
Business Environment
- Concept of Business Environment
- Importance of Business Environment
- External Factors> Natural Environment
- Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India
- External Factors> Economic Environment
- Overview of Business Environment
Planning
- Planning
- Limitation of Planning
- Planning Process
- Objective of Single Use and Standing Plans
- Strategy of Single Use and Standing Plans
- Policy of Single Use and Standing Plans
- Single Use and Standing Plans - Method Rule
- Budget and Programme
- Types of Plans
- Overview of Planning
Organising
- Organising
- Structure of Organisation
- Concept of Delegation of Authority
- Elements of Delegation
- Importance of Delegation of Authority
- Concept of Decentralization
- Importance of Decentralization
- Steps in the Process of Organising
- Overview of Organising
Staffing
- Staffing
- Staffing as a Part of Human Resource Management
- Evolution of Human Resource Management
- Staffing Process
- Staffing - Recruitment Process
- Steps in Employee Selection Process
- Concept of Training and Development
- Importance of Training and Development
- Methods of Training
- Overview of Staffing
Directing
- Directing
- Principles of Directing
- Elements of Directing
- Concept of Supervision
- Importance of Supervision
- Function of a Supervisor
- Concept of Motivation
- Importance of Motivation
- Maslow’s Hierarchy of Needs
- Motivation - Financial and Non Financial Incentives
- Concept of Leadership
- Importance of Leadership
- Leadership Styles
- Communication
- Elements of the Communication Process
- Importance of Communication in Business
- Formal and Informal Communication
- Barriers to Communication
- How to Overcome the Barriers
- Overview of Directing
Controlling
- Controlling
- Features of Controlling
- Relationship Between Planning and Controlling
- Techniques of Managerial Control
- Responsibility Accounting
- Management Audit
- Overview of Controlling
Business Finance and Marketing
Financial Management
- Concept of Financial Management
- Role and Objectives of Financial Management
- Financial decisions - investment
- Financial Decisions - Financing and Dividend
- Concept of Financial Planning
- Importance of Financial Planning
- Concept of Capital Structure
- Concept of Fixed and Working Capital
- Factors Affecting Fixed and Working Capital Requirements
- Overview of Financial Management
Marketing
- Concept of Financial Market
- Types of Financial Markets
- Money Market in India
- Capital Market in India
- Kinds of Capital Market
- Methods of Floatation in the Primary 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
- Concept of Consumer Protection
- Consumer Protection Act 1986 (COPRA)
- Concept of Consumer
- Responsibilities of Consumers
- Legal Redressal Machinery Under Consumer Protection Act 1986
- Remedies Available to the Consumer Under Consumer Protection Act 1986
- Consumer Awareness
- Role of Consumer Organisations and NGO's
- Legal Protection to Consumers
- Overview of Consumer Protection
- Introduction
- Management and Its Scientific Approach
- Limitations of Management as a Science
- Real-Life Application
- Key Point Summary
Maharashtra State Board: Class 11
Introduction
Science is a system of knowledge based on principles and verified findings. Management, like science, uses techniques and theories (e.g., planning, motivation) to achieve consistent results, making it a science as well.
Maharashtra State Board: Class 11
Management and Its Scientific Approach
Maharashtra State Board: Class 11
Limitations of Management as a Science
Maharashtra State Board: Class 11
Real-Life Application
- Science: Mixing baking soda and vinegar will always create fizz (gas)—the result is a fixed outcome.
- Management: Raising salaries should motivate workers, but some may still be unhappy due to personal reasons.
Maharashtra State Board: Class 11
Key Point Summary
- Management shares features with science, including structure, observation, cause-and-effect relationships, and universal rules.
- However, because it involves people, results aren’t always guaranteed or numerical; hence, it’s a social science.
- Management principles are guidelines, not strict formulas.
