Principles of Management• Definition : Management is a distinct process consisting of

activities of Planning,Organizing, Actuating, and Controlling, performed to determine and accomplish stated objectives with the use of human beings and other resources

• Six Ms of management or basic resources ( Men& Women,Materials, Machines, Methods, Money,Markets) are subjected to the fundamental functions of Planning,Organizing, Actuating ,and controlling to achieve stated objectives

• Determine worthwhile goals and carefully selecting and utilising resources efficiently and effectively by Planning,Organizing, Actuating, and Controlling require time, judgement, determination and lots of practice

• Functions:1. Planning- to determine the objectives and the course of action to be followed. 2. Organizing- to distribute the work among the group members and to establish and recognise needed relationship. 3. Actuating- the members of the group to carry out the prescribed tasks willingly 4 Controlling- the activities to conform with the plans

Principles of Management

• MANAGEMENT IS ABOUT COPING WITH NEW SITUATIONS, IT IS ABOUT LEVERAGING existing arrangements to get the best out of the system, It is about seeking the wood from the tree, it is about leading teams, being a key player in the team and it is about motivating people and taking them along.

• Management is about people; of factors that affect them. It is about motivating them, keeping them charged up , rewarding them for their efforts,resisting negative tendencies, all with the view of achieving ever higher levels of excellence .

• However, these imperatives of management have been put to severe test with the economy , industry, and the government on a major churn with the advent of the new economy, preceded by the dawn of electronic ageand that of the information age

• But, the good news is that as usual the managers are coping

Management Philosophy in a contemporary Environment

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