MANAGEMENT CONCEPTS and FUNDAMENTALS

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WHAT IS MANAGEMENT ?

DEFINITION:

•F.W. Taylor -“Art of knowing what you want to do and
then seeing that it is done the best and cheepest way”.
•Henry Fayol –“To Manage is to forecast, to plan, to
organise, to command, to co-ordinate and to control”.
•Peter F.Drucker –”Management is work and as such it
has its own skills, its own tools and its own techniques”.
•“Management is the art of getting things done through and with people”.


FUNCTIONS OF MANAGEMENT

Planning

•Look ahead and chart out future course of operation
•Formulation of Objectives, Policies, Procedure, Rules, Programmes and Budgets

Organising

•Bringing people together and tying them together in the pursuit of common objectives.
•Enumeration of activities, classification of activities, fittingindividuals into functions, assignment of authority for action.


MANAGEMENT AND ADMINISTRATION

II. Management Includes Administration.

Brech -Management is an all inclusive function.
Top Management-Formulation of policy, co-ordination, motivation of personnel.
Middle Management-Formulation of policies to a lesser extent, co-ordination, motivation and planning control.
Lower Management-Supervision and control of day to day activities including administrative procedures.