Introduction to Management in Business

Planning, organizing, actuating, and controlling

To manage a business, managers, workers, and work

The creation and maintenance of an internal environment where individuals working together can perform efficiently and effectively towards group goals

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

<p>The administrators or managers of the firm who integrate men, material, and money into an effective operating unit</p> Signup and view all the answers

<p>Management provides leadership to a business enterprise, and without able managers and effective managerial leadership, the resources of production remain merely resources and never become production.</p> Signup and view all the answers

<p>A central directing and controlling agency is indispensable for a business concern because the productive resources – material, labour, and capital – are entrusted to the organizing skill, administrative ability, and enterprising initiative of the management.</p> Signup and view all the answers

<p>Management occupies such an important place in the modern world that the welfare of the people and the destiny of the country are very much influenced by it.</p> Signup and view all the answers

<p>Management is a universal process in all organized, social and economic activities that involves extracting work from others in an integrated and co-ordinated manner for realizing specific objectives through productive use of material resources.</p> Signup and view all the answers

<p>The meaning of management in the context of business operations involves mobilizing the physical, human, and financial resources, and planning their utilization for business operations in such a manner as to reach the defined goals.</p> Signup and view all the answers