In this topic, you will learn about, Overview of management.
OVERVIEW OF MANAGEMENT:
MANAGEMENT: The process of using various resources (inputs) to produce same results (output) is known as management and the degree of the success varies according to the efficiency with which the resource is managed.
The management refers to the process of using man, money, machines, material, and process through proper direction, coordination and integration of several activities show as to produce the desired result and attain predetermined goals.
Management consist of a series of activities classified into various planning, organizing, staffing, directing, and controlling are the main functions of Management.
OBJECTIVES OF MANAGEMENT:
- OPTIMUM USE OF RESOURCES: For achieving maximum profitability the resource, efficient and effective utilization helps management in achieving its predetermined goals i.e. profit maximization.
- INCREASING THE PRODUCTIVITY OF ALL FACTORS OF PRODUCTIONS: for any business organisation management should minimize wastage of time, money and efforts of human beings through proper utilisation of various factors of production like capital and labour this leads to increase in efficiency.
- FAIR RETURN ON CAPITAL: In any business organisation fair return to the owner on his capital invest play a very important role in maintaining investment and healthy growth attracts future investment for growth and expansion.
- Changing it with the changing environmental conditions.
- CREATE GOODWILL IN THE MARKET:
- Goodwill provides raw material in credit.
- Easy to loan.
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