Presented by

ARPIT DAHRE.

Department Fashion Merchandise

and Retail Management..

WHAT IS MANAGEMENT

COMPONENTS OF MANAGEMENTi. Organisational activity

ii. Goal formation

iii. Goal accomplishment and evaluation

iv. Organisational Survival

v. Implementation

MANAGEMENT IN BRIEF

CONCLUSION

The organization and coordination of the activities

of a business in order to achieve defined

objectives. Management is often included as a

factor of production along with machines,

materials, and money.

Management consists of following:

(1) Organisational activity-Management is a group activity.

Management is to coordinate the actions and reactions of individuals.

(2) Goal formation—Management has some definite goals before it to

achieve. Goals are set considering the actions and reactions of individuals.

Management is every where- office, hospital, school, finance,

trust etc., management is basically planning, organizing

coordinating, directing, Assessing, correcting, motivating and

Achieving a set goal. It is objective-oriented. We always have a

doubt whether it is an art and youngest of science because

It is of dynamic nature.

Different management need different approaches; for example

business management and personal management

Are based on common principal but vary in lot approach.

Economist say management is factor of production; socialist

views it as a group of people; other says that is a process.

Mary parker say “ management in its true sense, a process by

which an organization realizes its objectives in a planned

manner;

According to Henry Fayol. “ Management is to forecast plan,

organize, command, coordinate and control”.

Management is taking inputs, transforming them into out-either

a good or service; the effectiveness of this transforming the

input into output depends on the Management-especially when

the resource are scarce ; It is a group activity; motivating

others and getting the things done within the stipulated time ,

without compromising on the quality of the result ; it give shape

and color to great ideas of the manager; Management involves

dealing with people who have different understanding,

sensitivity, knowledge, capability, responsibility, maturity.

since Art is concerned with personal application of knowledge

some kind of ingenuity and creativity is required to practise the

basic principles.

it is said to be art because:

1) A successful manager practise the art of management in the

day-to-day job of managing an enterprise based on study

observation and experience.

2) There are various theories of management as propounded

by many management thinkers, which prescribe certain

universal principles.

science is a systematized body of knowledge that explains

certain general truths or the operation of general laws. we can

say that management has some characteristics of science

1) Management has a systematic body of knowledge . It has

its own theory & principles that have developed over a period

of time.

2) Inference are arrived after continuous observation and

experiment.

3) It has logical principle which are defined and are universally

applicable without any limitation.

ConclusionManagement has got two faces like a coin; on one side it is art

and on the other it is science. Management has got scientific

principle which constitute the element of science and skill and

talent which are the attributes of Art.

According to American Society of Mechanical Engineers.

"Management is the art and science of preparing, organizing

and directing human efforts to control the forces and utilize the

material of nature for the benefit of men. "Thus, it has now

been accepted that management is an art as well as science. It

has the elements of both arts and science.

THANK

YOU..!!!