Management is a process of planning, organizing, leading and controlling individual efforts and resources to achieve organizational goals or a totality of managerial action, systems and procedures. Management is a process of working with and through people in a changing environment effectively and efficiently using limited resources to achieve organizational goals
Concepts of Management - There are four concepts of management namely:
a) Working with and through people – Work place success comes through efforts of people. In order to attain organization goals and objectives managers have to arrange for organizational members to perform whatever the tasks necessary to be performed. Mangers are the individuals responsible for getting things done by working with and through people.
b) Organisational Goals and Objectives – They are the results or achievement towards which effort is directed or aimed. They can also be defined as a target to strive for or clear statement of the vision specifying the accomplishment to be achieved. Organisational objectives or goals provide a purpose and direction to the management process and serve as a yard stick for the company’s performance.
c) Effective versus Efficiency- Efficiency means performing or functioning in the best possible manner with the least waste of time and effort while effective means achieving a stated objective. Being effective is about doing the right things, while being efficient is doing things in the right manner and the resources required to achieve an objective are weighed up against effectiveness. For example using 10 people to pack one box is an effective way of packing, because the job will be done quickly, but highly inefficient when the wasted effort of so many packers time is taken into consideration. Managers are responsible for balancing effectiveness and efficiency.
d) Limited Resources – Managers are responsible to use limited human, physical, informational and...