Economic Environment

Perspective Management

References:

1. Principles of Management : Koontz and O’Donnel

2. Principles of Management : Terry and Franklin

3. Management : James A.F. Stoner

4. Practice of Management : Peter F Drucker

5. Management Theory and Practice : Ernst Dale

6. Management and Organisation : Louis A. Allen

7. Management Process : Neumann

Lesson – 1

Introduction to management

Management

Management is the process of designing and maintaining an environment in which individuals working together in groups to accomplish selected aims efficiently.

It connotes different meaning indifferent contexts. The concept management may be used as

|Collective noun |- |Board of directors or Executive Committee |

|Field of study |- |A branch of knowledge including the principles, techniques, functions and |

| | |problem management. |

|Function |- |Functions to be performed to attain the organizational objectives-planning, |

| | |organizing direction, co-ordination and control |

In a more important sense, management is a vital function concerned wth all aspects of the working of an enterprise. Here the management is considered as a body of knowledge consisting of several concepts, principles, techniques and theories which can be adopted in any group Endeavour.

Definitions

“Management is an art of knowing what do you want to do and then seeing that is is done in the best and cheapest way.”

-F. W. Taylor

“To manage is to forecast, to plan, to organize, to command to co-ordinate and control.

- Henry Fayol

“Management is a distinct...