3. What is Management ?
Management can be deﬁned as the
process of achieving organizational
goals through planning, organizing,
leading, and controlling the human,
physical, ﬁnancial, and information
resources of the organization in an effective
and efficient manner.
4. Organization and Need for Management
It arranges the factors of production, assembles and organizes the
resources, integrates the resources in effective manner to achieve
goals. It directs group efforts towards achievement of pre-determined
IMPORTANCE OF MANAGEMENT
Helps to achieve goals and objectives.
For optimum utilization of resources.
To maintain responsibility and order.
To get the most qualified personnel for the job.
To reduce workload and get things done.
Helps facilitate good communication.
6. Organization Management
Organization management refers to the art of getting people together on a common
platform to make them work towards a common predefined goal.
Organization management enables the optimum use of resources through
meticulous planning and control at the workplace.
Organization management gives a sense of direction to the employees. The
individuals are well aware of their roles and responsibilities and know what they are
supposed to do in the organization.
An effective management ensures profitability for the organization. In a layman’s
language organization management refers to efficient handling of the organization as
well as its employees.
7. Need for Organization Management
Organization management gives a sense of security and oneness to the employees.
An effective management is required for better coordination among various
Employees accomplish tasks within the stipulated time frame as a result of effective
Employees stay loyal towards their job and do not treat work as a burden.
Effective organization management leads to a peaceful and positive ambience at the
8. Management as Science or Arts
Managing is the “art of arts” because it organizes and uses human talent
Elements of art in management
Perfection through practice
Elements of Science in Managing
Methods and principles
9. EVOLUTION OF MANAGEMENT
Management thought is regarded as an evolutionary
concept. It has developed along with it and in line with
social, cultural, economic and scientific institutions.
Management thought has its origin in ancient times. It is
developed along with other socio economic development.
11. Business Ethics
Ethics is a set of principles or standards of human conduct that govern the behavior of
individuals or organizations. Using these ethical standards, a person or a group of persons
or an organization regulate their behavior to distinguish between what is right and what is
wrong as perceived by others
12. Characteristics of Business Ethics
Business ethics are based on social values, as the generally accepted norms of good or bad
and ‘right’ and ‘wrong’ practices.
It is based on the social customs, traditions, standards, and attributes.
Business ethics may determine the ways and means for better and optimum business
Business ethics provide basic guidelines and parameters towards most appropriate
perfections in business scenario.
Business ethics is concerned basically the study of human behavior and conducts.
Business ethics is a philosophy to determine the standards and norms to make mutual
interactions and behavior between individual and group in organization.
Business ethics offers to establish the norms and directional approaches for making an
appropriate code of conducts in business.
It is based on the concepts, thoughts and standards as generated by Indian ethos.
13. Characteristics of Business Ethics
Business ethics may be an ‘Art’ as well as ‘Science’ also.
Business ethics basically inspire the values, standards and norms of professionalism in
business for the well-being of customers.
Business ethics is to motivate and is consistently related with the concept of service
motives for the customers’ view point.
Business ethics shows the better and perspective ways and means for most excellences
Business ethics aims to emphasize more on social responsibility of business towards
14. Tools Business Ethics
Top Management Commitment
Codes of Ethics
Codes of Conduct
Policies and Procedures