Management may be defined as the art of getting work done through people, with satisfaction for employer, employees

and the public. For getting the work done through the effort of other people, it is necessary to GUIDE, DIRECT, COORDINATE and CONTROL human efforts towards the fulfillment of the goal of the enterprise. The goals of the enterprise are fulfilled through the use of resources like MEN, MONEY, MATERIAL and MACHINE.

Therefore, Management is an executive function which actively directs human efforts towards common goals. Management may be called as Art as well as Science It has scientific basis, because management techniques are susceptible to measurement and factual determination. It is an art because management means coordinating and getting work done through others.

No enterprise can survive without management, even if it possesses huge money, excellent machinery and expert man-power, because without management, it will be all confusion and nobody will know what to do and when to do. So it is Management which GUIDES and CONTROLS the activities of man power for optimum utilization of company resources, such as men, materials, money, machines, method etc.

Creates a vital, dynamic and life giving force to the enterprise Coordinate activities of different departments in an enterprise and establishes team-sprit among the person. Provides new ideas and vision to the organization to do better Tackles business problems and provide a tool for best way of doing things Provides stability to the enterprise by changing and modifying the resources in accordance with the changing environment of the society Helps personality development thereby raising efficiency.

It works as a CATALYST to produce goods using labor, materials, and capital. It is a distinct process comprising of functions such as PLANNING, ORGANISING, STAFFING, DIRECTING and CONTROLLING. It represents a system of authority-hierarchy of command and control. Managers at different level poses varying degrees authority. Management is a unifying force. It integrates human and other resources to achieve the desired objectives. It is a multi-disciplinary subject. It grew taking the helps of subjects such as Engineering, Psychology, Sociology, Anthropology and Operations Research etc. Management is universal in character. The principles and techniques of Management are equally applicable in the field of business, industry, education, government, army, hospital etc.

Managerial objectives may be defined as the intended goals which prescribed definite scope and suggest direction to the efforts of a manager. Managerial objectives should be

Clearly defined and communicated Reasonably attainable, and Based upon the overall organizational goals General objectives Specific objectives

Managerial objectives may be classified as

Continuous supply of capital Growth of firm Increasing production and productivity Economic objectives (e.g. profit) Social objectives (e.g. to offer goods of superior quality and services to the society at reasonable rates, to provide workers with fair wages and incentives and pay taxes honestly etc.) Human objectives (e.g. to understand the need of subordinates to motivate them and to boost their morals)

Nature of goods to be produced or services to be rendered. Types of customers (e.g. rich, poor, individuals, business houses, government etc.) Market standing (e.g. local, national, or international)