UNIT I-GENERAL MANAGEMENT

1.1 DEFINITION & IMPORTANCE

OF MANAGEMENT
 PRINCIPLE OF MANGEMENT

14 Henry Fayol’s Principle of

Management
1. Division of Work
2. Authority and Responsibility
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Subordination of Individual Interest
7. Equity
 Individual Activity

Jot down the remaining 7 Henry Fayol’s Principle

of Management from the Google and be prepared
for the question answer session at any time.
 WHAT IS MANAGEMENT?

Management is getting things done effectively and

efficiently with and through people.
Many management gurus, researchers, industrialists… defined
management from different perspectives…we will see few of
them in a minute)
 MANAGEMENT DEFINED

"Management is the art of getting things done through and with

people in formally organized groups“…Harold Koontz

“ Management is principally the task of planning, coordinating,

motivating and controlling the efforts of others towards a
specific objective”...James L Lundy

"To manage is to forecast and to plan, to organize, to command,

to co-ordinate and to control“…Henry Fayol
 MANAGEMENT DEFINED

"Management is the art of getting things done

through people“…Mary Parker Follett

"Management is a multi-purpose organ that

manages business and manages managers and
manages workers and work“…Peter Drucker
 EFFICIENCY AND EFFECTIVENESS
Effectiveness is the degree to which the organization achieves
its stated goals, or succeeds in accomplishing what it tries to do
“doing the right things”
≈Goal oriented
Efficiency is about completing activities and achieving goals
within optimum amount of resources
“doing things right”
≈Process oriented
 IMPORTANCE OF MANAGEMENT

1. To enhance managerial efficiency

2. To comprehend the nature of management
3. To train managers
4. To facilitate research
5. To coordinate material and human resources
Thank You