Nature and Significance of Management | Class 12 | Chapter 1 | Business Studies

Nature and Significance of Management | Class 12 | Chapter 1 | Business Studies

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HEADINGS AND SUB-HEADINGS LIST

1. FEATURES OF MANAGEMENT
A. Goal oriented process
B. Continuous process
C. Group activity
D. Dynamic organization
E. All pervasive
F. Multidimensional
a. Management of work
b. Management of personnel
c. Managment of operations

2. OBJECTIVES OF MANAGEMENT
A. Organizational Objective
a. Survival
b. Growth
c. Profits
B. Social objectives
C. Personal objectives

3. IMPORTANCE OF MANAGEMENT
1. Helps in achieving organizational goals
2. Creates a dynamic organization
3. Increase coordination
4. Development of society
5. Helps in achieving personal and group goals.

4. NATURE OF MANAGEMENT

1. MANAGEMENT AS AN ART
A. Systematic body of knowledge
B. Personalized application
C. Based on creativty and practice

2. MANAGEMENT AS A SCIENCE
A. Systematic body of knowledge
B. Based on repeated experiments
C. Universal validity

3. MANAGMENT AS A PROFESSION
A. Sytematic body of knowledge
B. Restricted entry
C. Service motive
D. Presence of professional association

5. LEVELS OF MANAGEMENT
1. Top level and their functions
2. Middle level and their functions
3. Lower level ans their functions

6. FUNCTIONS OF MANAGEMENT
1. Planning
2. Organising
3. Staffing
4. Directing
5. Controling

7. DIFFERENCE BETWEEN EFFICIENCY AND EFFECTIVENESS

8. COORDINATION
A. COODINATION IS THE ESSENCE OF MANAGEMENT
1. It is needed to perform all functions of management
2. It is required at all levels
3. Most important function
B. FEATURES OF COORDINATION
1. Integrates group efforts
2. Continuous process
3. All pervasive function
4. Deliberate function
5. Responsibility of all managers
C. IMPORTANCE OF MANAGEMENT
A. Growth in size
B. Functional differentiation
C. Specialization

Thank you for reading

[speakinspiration_]

hey there !!! I got a trick to remember the importance of management , which is DAADI .

it means, 1. helps in Development of society.
2. helps in Achieving group goals.
3 helps in Achieving personal goals.
4 creates a Dynamic organisation
5 Increases efficiency .

I hope it would help you 😃😃😃

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00:02 Management is crucial for achieving goals and success in business.
02:27 Management is the process of planning, organizing, motivating, and controlling.
06:45 Cost benefit analysis and goal-oriented process
08:53 Management is a goal-oriented process
13:06 Management is a continuous process.
15:39 Management is a dynamic and intangible force.
19:29 Survival, Profit, Growth in Business
21:10 Social objectives of management
00:00 Management is the process of getting things done with the aim of achieving goals efficiently and effectively.

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