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Revision: Introduction to Management OCM HSC Commerce (English Medium) 11th Standard Maharashtra State Board

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Definitions [2]

Definition: Middle Level Managers

Middle-level managers are department heads who carry out the plans created by top management and make sure the everyday work in each department happens smoothly.

Definition: Profession

A profession may be defined as an occupation backed by specialized knowledge and training, and to which entry is regulated by a representative body and duly recognized by society.

Key Points

Key Points: Characteristics of Management
  • Management is goal-oriented, directing all efforts towards achieving organisational objectives.
  • It is universal (all pervasive) and is required in every type of organisation, regardless of size or sector.
  • Management is multidimensional, involving the management of work, people and operations.
  • It is a continuous process, with functions like planning, organising, staffing, directing and controlling performed continuously.
  • Management is a group activity that coordinates individual efforts to achieve common goals and promotes teamwork.
  • Management is dynamic and intangible—it adapts to changing environments, and its effectiveness is seen through organisational success rather than being physically visible.
Key Points: Levels of Management
  • Levels of management divide human resources into parts based on size and needs of the organisation.
  • Management functions operate within a hierarchy of authority‑responsibility relationships.
  • Three main levels: top, middle, and supervisory/operational.
  • Top management sets goals, strategies, and ensures survival and welfare.
  • Middle management connects top and lower levels and executes plans and policies.
  • Supervisory management directly controls workers and ensures quality, low wastage, and safety.
Key Points: Management as an Art
  • Art is the skillful application of knowledge to achieve desired results.
  • Management requires personal skills, creativity and regular practice.
  • Art is based on theoretical knowledge and personalised application.
  • Managers apply management principles creatively according to different situations.
  • Successful managers are distinguished by their effective application of management principles.
Key Points: Management as a Science
  • Management uses organised, verifiable knowledge and principles, so it shows key features of science.
  • Management and science share systematic knowledge, observation, cause–effect relationships, and universal principles.
  • Management is a social and inexact science because it deals with human behaviour and qualitative outcomes.
  • Management principles arise from experimentation, draw from many disciplines, and need situational modification.
  • Management combines art (practice) and science (principles), and both work together for effective management.
Key Points: Management as a Profession
  • Management is an emerging profession with a systematic body of knowledge.
  • It provides formal education and training through management institutions.
  • Managers develop expertise through education and practical experience.
  • Management lacks compulsory qualifications, statutory regulation and mandatory association membership.
  • Management is a combination of art, science and profession.
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