Principles and Practices of Management
First Semester EMBA
Subject: Principles and Practices of Management
Roll No: EMBA1/MAR13/9011
Exam Registration No. is AG13/N/607
Ques1: Management is what Management does. Justify the statement and explain.
Ans:
MEANING OF MANAGEMENT
'Management is the executive function that concerns itself with the carrying out of the administrative policies laid down by administration. Management directs the active operations within the enterprise and combines the work of the employees with the available capital equipment and materials to produce an acceptable product. Management also markets the product or service according to the broad policies established by administration. "The Management also functions, in carrying out the policies of administration, expand as the lower levels of supervision are reached while the administrative function decreases in importance".
Management is what Management Does
Three different steps involved in it. Viz. (1) Formation of policy and its translation into plans; (2) Execution and implementation of plans; and (3) Exercising administrative control over the plans.
These three essential tasks of management may be titled as 'Planning', Implementing' and 'Controlling'. According to Dr. James Lundy -"Management is principally a task of planning, co-coordinating, motivating and controlling the efforts of others toward a specific objective. It involves the combining of the traditional factors of production (land, labor and capital) in an optimum manner, paying due attention, of course, to the particular goals of the organization. This definition broadens the scope of management and includes within its orbit, three major management activities viz. (a) Planning; (b) Implementing, and (c) Controlling.
Planning is the determination of the course of objectives of a business, division or department to achieve maximum profit effectiveness, the establishment of policies and the continuous seeking and finding of new ways
Subject: Principles and Practices of Management
Roll No: EMBA1/MAR13/9011
Exam Registration No. is AG13/N/607
Ques1: Management is what Management does. Justify the statement and explain.
Ans:
MEANING OF MANAGEMENT
'Management is the executive function that concerns itself with the carrying out of the administrative policies laid down by administration. Management directs the active operations within the enterprise and combines the work of the employees with the available capital equipment and materials to produce an acceptable product. Management also markets the product or service according to the broad policies established by administration. "The Management also functions, in carrying out the policies of administration, expand as the lower levels of supervision are reached while the administrative function decreases in importance".
Management is what Management Does
Three different steps involved in it. Viz. (1) Formation of policy and its translation into plans; (2) Execution and implementation of plans; and (3) Exercising administrative control over the plans.
These three essential tasks of management may be titled as 'Planning', Implementing' and 'Controlling'. According to Dr. James Lundy -"Management is principally a task of planning, co-coordinating, motivating and controlling the efforts of others toward a specific objective. It involves the combining of the traditional factors of production (land, labor and capital) in an optimum manner, paying due attention, of course, to the particular goals of the organization. This definition broadens the scope of management and includes within its orbit, three major management activities viz. (a) Planning; (b) Implementing, and (c) Controlling.
Planning is the determination of the course of objectives of a business, division or department to achieve maximum profit effectiveness, the establishment of policies and the continuous seeking and finding of new ways