MOTHER

The True Manager

UNIT 1NATURE AND SIGNIFICANCE OF

MANAGEMENT

“Management is the art of getting things done through others.”

-Mary Parker Follet

5 M’s of management

Management

Men

Materials

Machines

Methods

Money

OBJECTIVES OF MANAGEMENT

ORGANISATIONAL

OBJECTIVESSOCIAL

OBJECTIVESPERSONAL

OBJECTIVES

1.ORGANISATIONAL OBJECTIVES

Utilization of physical resources

Achieving economical objectives

Survival

Profit

Growth

2. SOCIAL OBJECTIVES

Conduct activities to fulfill the expectations of the society.

Eg:- eco friendly methods of production,

employment opportunities to weaker sections etc.

3. PERSONAL OBJECTIVES

Reconcile personal goals with organizational objectives.

Eg:- Salary and other benefits, Promotion etc.

ACTIVITY

Which of the following is not an objective of management?

1. Earning profit2. Growth of the organization3. Providing employment4. Policy making5. Identifying general purposesAns:- 4,5

IMPORTANCE OF MANAGEMENT

1. Helps in achieving group goals

2. Increases efficiency3. Creates a dynamic

organization4. Helps in achieving personal

objectives5. Helps in the development of

society

Write an assignment on the following;

Explain how management ‘increases efficiency’ and helps in the ‘development of society’

THE END