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Principles and Functions of Management
To start with it would be necessary to know what the term :’Management’ means and what it seeks to do or achieve.
We talk of managing a business, school, a Church, a Hospital, or even managing ines own home. In these activities we find that there are distinct ‘inputs’ and ‘outputs’. In business, the inputs are called ‘resources’ and these are categorized into four heads viz., men, money, machines, and materials. The resource of time is part of each of these four resources
Definition of Management :
PETER DRUCKER: Management is a multi-purpose organ that manages a business and manages managers and manages workerers and work. It is an organ of society specifically charged with making resources productive, that is, with the responsibilities for organized economic advance.
The reason for the existence of a business enterprise is that it supplies economic goods and services. The business enterprise must discharge its economic responsibility so as to strengthen society, and in accordance of business enterprise, the vital principle that determines its nature, is economic performance ……… Every act, every decision, every deliberation of management has this as its first dimension.
JOHN F MEE: Management may be defined as the art of securing maximum results with a minimum effort so as to secure maximum prosperity and happiness for both the employers and employee and give the public the best possible service.
MARY CUSHING NILES: Good Management, or Scientific Management, achieves a social objective with the best use of Human and Material Energy and time and with satisfaction for the participants and the public.
WILLIAM SPRIEGEL ...