PPT - Nature and Significance of Management Commerce Notes | EduRev

Business Studies (BST) Class 12

Created by: Nipuns Institute

Commerce : PPT - Nature and Significance of Management Commerce Notes | EduRev

 Page 2


?Management is a universal concept.
?Used in every type of organisation (for profit or not for profit).
?Management is required in all sectors (manufacturing or 
service)
?Success of an organisation depends on successful functioning of 
management.
Page 3


?Management is a universal concept.
?Used in every type of organisation (for profit or not for profit).
?Management is required in all sectors (manufacturing or 
service)
?Success of an organisation depends on successful functioning of 
management.
?Consider a GOVERNMENT without these:
?A prime minister
?Set of rules & regulation
?Legal boundaries
Page 4


?Management is a universal concept.
?Used in every type of organisation (for profit or not for profit).
?Management is required in all sectors (manufacturing or 
service)
?Success of an organisation depends on successful functioning of 
management.
?Consider a GOVERNMENT without these:
?A prime minister
?Set of rules & regulation
?Legal boundaries
Management is a “PROCESS” of designing & 
maintaining an environment in which individuals work 
together with the aim of achieving goals 
EFFECTIVELY
&
EFFICIENTLY.
Page 5


?Management is a universal concept.
?Used in every type of organisation (for profit or not for profit).
?Management is required in all sectors (manufacturing or 
service)
?Success of an organisation depends on successful functioning of 
management.
?Consider a GOVERNMENT without these:
?A prime minister
?Set of rules & regulation
?Legal boundaries
Management is a “PROCESS” of designing & 
maintaining an environment in which individuals work 
together with the aim of achieving goals 
EFFECTIVELY
&
EFFICIENTLY.
?Management is a process.
?Management requires effective performance.
?Management needs efficiency.
?Effectiveness = aims to achieve the goals within time.
?Efficiency = optimum utilisation of resources to achieve the 
goals.
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