Principles and Practice of Management (PPM)

INTRODUCTION TO MANAGEMENT

Definition of Management: Management is the process of planning, organizing, staffing, directing, and controlling organizational resources efficiently and effectively to achieve specific goals.

Characteristics of Management:

Goal-oriented: Focused on achieving organizational objectives.

Universal: Applicable to all types of organizations.

Continuous Process: Ongoing series of functions.

Multidisciplinary: Uses knowledge from economics, psychology, sociology, etc.

Group Activity: Involves coordination of people.

Intangible: Cannot be seen but felt through results.

Importance of Management:

Achieves organizational goals

Increases efficiency and productivity

Improves employee performance and satisfaction

Facilitates growth and innovation

Encourages teamwork