Nature and Concept of Management Flashcards
Coordination of all resources through the process of
planning, organizing, directing, and controlling
what you want to do and then seeing that it is done in the
best and cheapest way
Art of knowing
Managing the business, including managers and workers,
consists in?
guiding human and physical resources
What are the Objectives of Management?
Organizational Objectives, personal objectives, and social objectives
reasonable profits, survival and growth of business, improving the goodwill of the enterprise, etc.
organizational objectives
fair remuneration for work performed, reasonable working conditions, opportunities
for training and development, reasonable security of service, etc.
personal objectives
quality of goods and services at fair price to customers, honest and prompt payment
of taxes, conservation of environment and natural resources, preservation of ethical
values of the society, etc.
social objectives
what are the Management Process
Characteristics?
Management is a process of continuing related activities, Management is about involving and concentrating on
organizational goals, and Management achieves the organizational goals by working with
people and organization resources
refer to activities and processes such as marketing,
finances and purchases,
operational functions
operational functions refer to activities and processes such as ?
marketing,
finances and purchases,
about a dynamic process, with a number of elements
and activities as part of the process
management
What are the management functions?
planning, organizing, staffing, directing, and controlling
This is the process of setting the objectives to be accomplished by an
organization during a future time period and deciding on the methods of
reaching them.
Planning
It is the process of identifying, subdividing, grouping, assigning
and coordinating activities and providing the necessary authority to
carry out the activities.
organizing
It is the process of recruitment, selection, assignment, training
and development of the various kinds of human resources required
by the organization.
staffing
The process of communicating with and influencing
subordinate towards the achievement of organizational goals.
directing
The functions of monitoring performance and undertaking
corrective actions to ensure the attainment of predetermined goals
and objectives of the organization.
controlling
Is it tru that we can safely state that no single theory of management
is universally ac cepted today?
Yes
What are the f ive
di f ferent approaches to management?
- the universal process approach,
- the operational approach,
- the behavioral approach,
- the systems approach, and
- the contingency approach.
is the oldest and one of
the most popular approaches to management thought
the universal process approach
also known as the universalist or functional approach.
the universal process approach
The universalist approach is based on two main
assumptions
First , successful managers are assumed to be
inter changeable among organizations of differing purpose.
The second assumpton is that universal management
process can be reduced to a set of separate functions and
related principles.
What is Henri fayol’s book called?
Administration Industrielle et generale
f ive func t ions, or areas, of managerial responsibili ty
planning, organizing, command, coordination, and control
