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Questions and Answers
Which aspect of management involves 'getting work done through others'?
What is one of the key activities that ensures optimum use of resources?
According to Mary Parker Follett, what is management?
What is one way management can be classified based on different perspectives?
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Which of the following is NOT mentioned as a classification of management definitions?
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What is the meaning of the word 'management' based on its Latin origin?
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Why did man find it necessary to join others to attain his goals?
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What are the factors that management is required to coordinate according to the text?
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What does management refer to according to the text?
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What is management considered as per the text?
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How is management described in relation to human activities?
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Study Notes
Introduction to Management
- Management has been an essential part of human activities since the beginning of mankind, with the coordination of human efforts being a crucial aspect of group action.
- The study of management as a discipline did not emerge until the 20th century.
Definition and Meaning of Management
- The word "management" comes from the Latin word "Manus," meaning "hands," thus referring to handling a particular activity.
- Management involves setting objectives and achieving them through the optimal use of resources.
- It is a process of decision-making and taking action to achieve objectives, ensuring the optimal use of resources.
Importance of Management
- Management is the creative head of a business firm, concerned with all aspects of the enterprise's operations.
- It determines the objectives of the organisation and takes steps to achieve them.
Definitions of Management
- There is no single universally accepted definition of management, with different scholars and schools of management emphasizing various aspects of the activity.
- Definitions of management can be classified into three categories:
- Management is getting work done through others.
- Management as a function.
- Management as a process.
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Description
Test your understanding of the fundamental concepts and characteristics of management introduced in Chapter 1. Explore the importance of coordinating human efforts and working in groups to achieve common goals.
