Definition of Management, Contemporary Management Video Lecture | Contemporary Management - B Com

this is the beginning of the things you
need to know about calm management
series let's get started with what is it
management takes place within an
organization or structure note that at
the very top of the structure is
management under which everything falls
also note that leadership is the
foundation of the structure the upward
pointing arrows indicate that it
permeates throughout the organization
now within the organization or structure
the manager allocates resources human
financial physical and informational
using the functions of planning
organizing leading and controlling an
example of planning might be creating a
budget which would then become a major
control mechanism organizing could be
the structuring of human resources into
an organization chart leading might be
influencing others to achieve
organizational goals created in the
planning function and an example of
controlling would be comparing budget
with actual figures and taking
corrective action if necessary please
note how the interlocking circles are
drawn around each function showing the
interrelationships and the dependencies
upon each other
now performing these functions most
efficiently and effectively creates a
competitive advantage which leads to
achieving organizational goals
so in summary management takes place
within an organization or structure and
is positioned at the top under which
everything falls where as leadership is
the foundation upon which an
organization is built then within the
organization or structure managers
allocate resources human financial
physical and information using the
functions of planning organizing leading
and control to most efficiently and
effectively achieve organizational goals
you