📖 generic · CBSE Class 12th English Medium · BUISNESS STUDIES · Page 2definition

I ntroduction · Part 2

Chapter 3: I ntroduction · BUISNESS STUDIES

New Delhi. A typical day in Smita’s life consists of a series of interrelated and continuous functions. She has to plan a special festive collection for Diwali. This means organising more funds and recruiting more workers.

She also has to regularly communicate with her suppliers to ensure that deadlines regarding delivery of goods are met. In the course day, she meets customers for a general feedback any suggestions that they may have. Smita is managing Namchi Designer Candles. So is the Principal managing your school.

They all manage organisations. Schools, hospitals, shops and large corporations are all organisations with diverse goals that are aimed at achieving something. No matter what the organisation is or what its goals might be, they all have something in common‑management and managers. You have observed that Smita’s work as a manager consists of a series of different activities or functions aimed at achieving the goals of the organisation.

These interconnected and interdependent functions are part of management. Successful organisations do not achieve their goals by chance but by following a deliberate process called ‘management’. “Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.” Harold Koontz and Heinz Weihrich “Management is defined as t he process of planning, organising, actuating and controlling an organisation’s operations in order to achieve coordination of the human and material resources essential in the effective and efficient attainment of objectives.” Robert L. Trewelly and M.

Gene Newport “Management is the process of working with and through others to effectively achieve organisational objectives by efficiently using limited resources in the changing environment.” Kreitner Definitions of Management Management is essential for all organisations big or small, profit or non-profit, services or manufacturing. Management is necessary so that individuals make their best contri- bution towards group objectives. Management consists of a series of interrelated functions that are performed by all managers. Later in this chapter you will understand that although both of them are managers, they function at different levels in the organisation.

The time spent by managers in different functions

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