Page 9 - DCOM102_DMGT101_PRINCIPLES_AND_PRACTICES_OF_MANAGEMENT

Amit Kumar Sharma, Lovely Professional University Unit 1: Introduction to Management

Unit 1: Introduction to Management Notes

CONTENTS
Objectives
Introduction

1.1 Definition of Management
1.2 Nature of Management
1.3 Scope of Management

1.4 Purpose of Management
1.5 Characteristics of Management
1.6 Management – An Emerging Profession
1.7 Who is a Manager?
1.8 Roles of a Manager

1.9 Skills of an Effective Manager
1.10 Functions of a Manager
1.11 Summary

1.12 Keywords
1.13 Self Assessment
1.14 Review Questions
1.15 Further Readings

Objectives

After studying this unit, you will be able to:

Define management
State the nature, purpose and scope of management
Identify roles and skills of a manager

Explain the functions of a manager
Discuss Henry Fayol’s Principles of Management

Introduction

Management is a vital aspect of the economic life of man, which is an organised group activity.
A central directing and controlling agency is indispensable for a business concern. The productive
resources - material, labour, capital etc. are entrusted to the organising skill, administrative
ability and enterprising initiative of the management. Thus, management provides leadership
to a business enterprise. Without able managers and effective managerial leadership the resources
of production remain merely resources and never become production. Under competitive
economy and ever-changing environment the quality and performance of managers determine
both the survival as well as success of any business enterprise. Management occupies such an

LOVELY PROFESSIONAL UNIVERSITY 1