Introduction to Management: Definitions and Concepts

Management is described as multidisciplinary, dynamic, and the principles are relative, not absolute. It is also discussed as a science or art, a profession, and situational in nature.

The definitions provided include 'the art of getting things done through and with people in formally organized groups' by Koontz, 'the art of knowing what you want to do and then seeing that it is done in the best and cheapest way' by F.W. Taylor, and 'to manage to forecast and plan, to organize, to command, to coordinate and control' by Henry Fayol.

The importance of management is highlighted in terms of effective utilization and development of resources, ensuring continuity in the organization, integrating various interest groups, and maintaining stability in the society.

<p>The functions of management as presented by Henry Fayol include planning, organizing, commanding, coordinating, and controlling.</p> Signup and view all the answers

<p>Management is described as important to the daily lives of people and organizations due to its role in effective resource utilization, development, continuity, integration of interest groups, and stability in society.</p> Signup and view all the answers

<p>Management is the art of getting things done through and with people in formally organized groups.</p> Signup and view all the answers

<p>Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way.</p> Signup and view all the answers

<p>Management is the art of getting things done through and with people.</p> Signup and view all the answers

<p>Multidisciplinary, dynamic, relative (not absolute) principles, and situational in nature.</p> Signup and view all the answers

<p>Forecasting and planning, organizing, commanding, coordinating, and controlling.</p> Signup and view all the answers