Chapter-1 Nature And Significance Of Management

CHAPTER-1 

NATURE AND SIGNIFICANCE OF MANAGEMENT

Features Of Management

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1.MultiDimensional
2.Continous
3.Dynamic
4.Intangible
5.Group Activity
6.Group Goals
7.Pervasive

IMPORTANCE OF MANAGEMENT

GDP depends upon Efficiency of Society

1. Achieving Group Goals
2. Dynamic Organisation
3. Achieving Personal Objectives
4. Increases efficiency
5. Helps in Development of Society

MANAGEMENT AS AN ART

CAT

1. Based on practice             and  Creativity
2. Personalised Application
3. Existence of Theoretical       knowledge

MANAGEMENT AS SCIENCE

 USP

1. Universal validity
2. Systematic Body of             knowledge
3. Principles based on           Experimentation

NATURE OF COORDINATION

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1. Pervasive Function
2. Continuous Process
3. Deliberate Function
4. Responsibility of All         Managers
5. Unity of Action
6. Integrates Group Efforts