1_1s - MANAGEMENT CONCEPTS and FUNDAMENTALS Dr. M.Thenmozhi...

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Unformatted text preview: MANAGEMENT CONCEPTS and FUNDAMENTALS Dr. M.Thenmozhi Professor Department of Management Studies Indian Institute of Technology Madras Chennai 600 036 E-mail: mtm@iitm.ac.in WHAT IS MANAGEMENT ? 1.Field of Study - Management principles, techniques, functions, etc- Profession 2.Team or Class of people- Individual who performs managerial activities or may be a group of persons 3.Process- Managerial activities - planning, organising, staffing, directing, controlling. 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”. CHARACTERISTICS OF MANAGEMENT 1) Is a Process /a function. 2) Is a Social Process. 3) Involves Group Effort. 4) Aims at achieving predetermined objectives. 5) Required at all levels of management 6) Is a Profession 7) Is comprised of following functions: • Planning • Organising • Directing • Controlling • Co-ordination 8) Is an art and science. FUNCTIONS OF MANAGEMENT...
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This note was uploaded on 01/20/2012 for the course MANAGEMENT 1 taught by Professor Prof.m.thenmozhi during the Fall '11 term at Indian Institute of Technology, Chennai.

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1_1s - MANAGEMENT CONCEPTS and FUNDAMENTALS Dr. M.Thenmozhi...

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