Plus Two Business Studies Notes Chapter 1 Nature and Significance of Management
Chapter 1 – Important Topics: Concept of Management – Definitions and Meaning Effectiveness vs Efficiency Characteristics of Management Objectives of Management (Organisational, Social, Personal) Importance of Management Nature of Management – Art, Science, Profession Levels of Management Difference between Administration and Management Functions of Management – Planning, Organising, Staffing, Directing, Controlling Co-ordination – Characteristics and Importance Introduction – Management at Work Management is essential for all organisations – big or small, profit or non‑profit, services or manufacturing. It is the process of getting things done with the aim of achieving goals effectively and efficiently. Management: The process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims. (Koontz & Weihrich) Management: The process of working with and through others ...
