Nature and Significance of Management Chapter 1
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This document introduces the concept of management, defining it as the process of getting things done effectively and efficiently. It explores the different aspects of management, including the role of a manager, the importance of achieving goals and the relationship between effectiveness and efficiency.
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# CHAPTER 1 ## NATURE AND SIGNIFICANCE OF MANAGEMENT ## Management ### Meaning of Management Management can be defined as the process of getting things done with the aim of achieving goals effectively and efficiently. - Management is the process of getting things done with the aim of achieving...
# CHAPTER 1 ## NATURE AND SIGNIFICANCE OF MANAGEMENT ## Management ### Meaning of Management Management can be defined as the process of getting things done with the aim of achieving goals effectively and efficiently. - Management is the process of getting things done with the aim of achieving goals effectively and efficiently. The art of getting things done through others.... - Mary Parker Follett (1868 - 1933) - Mary Parker Follett Prophet of Management | GOAL | TEAM | MR. A MANAGER | |---------------------------|--------------------------|-------------------| | An image of a plant goalpost | An image of a team | An image of a man | ### DEFINITION (Harold Koontz and Heinz Weihrich) - "Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims." ### WHO ARE MANAGERS - An image of a team - An image of a school principal - An image of a man - An image of a man - An image of a man with a child - An image of a man ### TWO TERMS | Effectiveness: | Efficiency: | |----------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------| | means completing the right task to achieve the goal within the time frame. | means completion of task using minimum resources. | | (DOING RIGHT THINGS) | (DOING THINGS RIGHT) | | An image of a check mark in a box | An image of a right symbol with a line through a wrong symbol | Effective Efficient Eg: Acompany's targeted production is 5000 units in a year, to achieve this target the manager operates the employees on double shifts with high salary which resulted in high production cost. In this case the manager was effective but not efficient. Therefore, it is important to the management to achieve goals (effective) with minimum resources (efficiency).
