IASSMAte

Assiqnment No1

Nome Rahul Rarmesh Nisha.cd

cloSs-FN BCA-CA

Subject Painciple) Moncige men

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01

1 txplainthe impoz1dnceand Uoni.ouSfunctions o

manaqement in_detail.

Management 1S auniversal phenomRNonIfiS

JOTYpopulas ond wldelu USedterm AIL orooni2aton
Dusiness polifiCa Cultuzal or Social are
iQuolued in management the rman.ogtme
because i t iS
which helps gncd directs the orious efforis tomaTds
a e inide pugpose
Accordinq to Horold kOnt2 Managemeni is an a
the
ot agtting Ahings done through and oith
pe.ople io Formally OTqan12ed arOups t is an ari
Ot Creating 00 enuironment in hich people Can
pertodm nd ndlyiduals CanCO Openate tnuards
attaionment of Q0up goalS
AccOTdin9 0 Fh loulo anaagment IS an Ori
D Knoing ohat to do hen to do andSee
tha it iS donR In he best and Cheapet(a
handgemeni IS purpoSive OCtiUit . i s Somethin
that directs aoups eftOniS touards the attainmeat
Of Certain pe-detesmine d gocals.
Manage ment s he prOCe sso (00S King 0th and
through other to efferiively achitue the Qnalc o
the orqanizafion, by etfectively using limiied TeouR]
in the Chonginworld.o CouYSR, thee gnals may uOTy
xom one enterpri se to ano thex E.qFoT one enierprie
it mou be lounching ok ne prnducts by conducfina
mor ket SuTuays and foK other S it may be pOfit
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maxLmi2ation by miinizing cog

Imporlance oMangaement
Ehelps in Achieuinq roup Gnoalg arranges
the factors of pro.duc fi on, aSsemblesdnd organi2e
theYesourCesintearates the esources in eEfec tive
monne fo achieue qoals. Idirecks Qroup efors
ouords OchievLpa ot pre de Aerroined Q00lsS
Bu detininq obiec tive of OFQgnization elecGs ly there
LJou ld bR no astaiae O time, money Ond effor
Management CADuey ts disosogLn12 ed eS.AUTCes OF
men machin e moneuetc into Useful enkrpaise
heSe PCoLTCes ae CODrdinated direc ted and
Controled in uch a mannenthat ênkexpnie 0gR
toLardS ottaioment_o Qoals
2Opti.mam Utlizotion of ResounKésA Management
utlizés all the phusical &human Tesources productivey
Th eads to eficor10 i0manaqement
Aanaement prouide mazimum utilipetion o SCarce
RS OusCes b Selectlna its best possible altRI nate
Use inindustry rom out o VOniOuS use&
I tmoke use oF experhs professional and these
Se'suices fads to use_of their SRils Kpouledge
and pTODPT Utilizatilo0 and CUOids wastage.
emploues Ond moachines Ore producing its MAKIMUM
herei Do AUD UNd er ernploumen OF On KegouTCeJ.
ResdusCRs Costs t_ qets marimum sesults
Ansough minimuM input_ by proper planoing and by-
Using minimum input & qettlng maKimum Output
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Pago:08

Management uses physical, human CAnd fo financial

TesousceS in Such a manner ohich egultsn
best Combinaiion This helps in Cosf Keduciton
u)Establishment Eestablishes Soun d Organi2ation
No oUenlopping of efforts (Smooth and Co dinated
tunctionsJ. To estoablish_Sound Oraanizafionad SBrucku
IS One of the Objective of monOgement ohich iS in
funesbhtoi th obfectiwe o OTgani2atlon and For
Fulfiilment o AhtS it egtablishspAent_effecfive
authon &eponsibility Keladio0S.hip ie ho is
accauntagleto ohom h o Can qive iostructioDs
0 ohom uho CTe SuperlorS & hO CLe Sub0zdimte
Monagement ilIS up JaiOus poStions ih nght |
RTSOnShaving nght SRills training and aucllfication
AU obS Should be cleaed to_ejenyone
5)Estatlishes Equilibrium- lt_enabley the oraani zation
o Sesulve in Chanding enuirONMai IReepSn
tnuch with_ the Chainginq enuironmnt
ith the Chonge is exkeona environment, the
nitio
intial Co-Ordinatlon ofOrgani2ation must be
Chanaed So itadopts organization to changing
demond ot monket/_Changing needs of Gocieies. IE
is Rponsible_ fos axDuih_and SuGVIivalot orgnizakion
6Essennticals fo P1OSperityof SDClel- E¬Picient
nonagement leodS to bette economiccl orocduction
ohich helps in \usn to ncrease the uelfaxe of
Pople Go0d mOnogerme 0t make a difttcolt Aask
Rasier by OUoiding UOstaqe Scaxee eSoUY Ce
 timproves Standatd of livinq. tnCreoge the profit
ohich is benefiCial to business and
Sociey ill
get maximum out put at minimum COsk lo Ceoting
emploument oppon tuniiie dhich oeneratencome
IO hands Oraani zation COme) ith ne
prDduct
and vegearchey beneticia for soefu
functonS o Mana qerMe

planning

Contrgllinq Orqaniz/ng
Manageme.a
Functions

Drecting Staffin
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Pago: OSS

The Controllinu function Compaises CorcLnadlon-

Ktposting nd budaetlOgand hence tne ontrol{ng
FunctioN Can be broken in to these thr ee sePard e
Functi ons. Based upon the s e Seuea tunctÍons, Luthex
nulick_Coint o the word POSOCORB which qenerally
Of these Seuen Functions e
sepresen fs the initials
Ongani2ingSEor
P stands fod planningOor
Staffing 0 fos DirectingCO for Coclinating, R
o epasting & Bfor 8udaeting
But, Planning Ccani2iNG StafFIng, Directinq Gnd
KeCoqnizEd fanc tionS a
Con trolling Or widelu
manoce Ment
Eive funcdhong of Manageme nt
aPanning
Planniog 8 futuse-Orienfed and defecminer a
rcttona and
Oqani2ofions d refion.It is a
Sysfemattc way ot making decslons
toda 1hat
wlll affect the uture o the Compony. AE a
yellas ODectiue
Kind o orAan2ed FoTeciqht cs
hindsght IF inuOlue pedicftng OF
the futuse as
the events. (
uuell aS atemptinq t0 Cont ro
efects Of
involueg the abui Ey to FoTesee the
0 theFuture
CUXTRn actionS in the lonq TUD
Peler Drucker hoL cletined planninq 0
tolloux
plannin Ahe ContinuOUS proeSS O maklog
SysBematically an
pxesent entrepreneurial_clecisionS
fufuiky
LeHoith best possib le Knaoledge af thetr
needed to
organizing syfemmticall h e etforS
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CarrAhese deciStOnS and measumiInq the esulfs a

these decisians Cgainst the RKpectations through
OTaani2ed and Sustemathic feedback'
AneERctir_planDinq proqram incopo Ka kes fht
eect of both exlernalaS ell as nternal factors.
he ex kKhal facdors are Shortage o resources both
Caupifal Cand ma eia qenera econOmic irend us fot
O inerest xates and taflation aue ConCernecddynam
echnoloqiceul advancements, iocredsed qoVeTomenta
Keaulaions ecundind ComMunity inRregh, unstatle
intesrationau politiCal enuirOnments t c
Oraani2inq
Osaanizinq equire Foama StruCture Of
authonty and the clrection and Plow of Such
quthornt through ohich work Subdiuisions_olte
defined Cardnged aind Coaelinoahed Sa thak
each puui relate to the other pount in a
united and Caherent maoner So uS fo atfain
the presCalbed objectives 4
Accoding to Henr Fauo,To 0T9ani z e
business in is Ao pouide it with éuerylhinq ugeflul
On its unc tioning ie Tou (ncHerial fools, Capita
And perSa NNell's
Thus the funcdton ok Ouanizing inualveg the deken
mnatioo of achuitiea tha need do be done lo
Osder to geach the Compan go
goals CIsSIqning
1hese activi tes Ho the properpes Sonnel CLAd
deleca ting henecessar authoriy to Cdxry
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Qu these octivities in a Coodinated and

CohegivR manner
t follbuS there fort that the func tion Of 0Xgani2ing
iS Concened oDLth
)ldentifyina the tasks that must 6e_ perfaxmecl
n d arOupinq them oheneyer neces.scLry
while
2) Assigning these fosks to he personne
defining their Outhoriby and relpansibilit
3) peleaotinq thiS Guth.orit to these employees
J

u Establishinq a elatLanShip befween CuthOXLEy

and reçonsibillty
5Co0dinating_theSe actiuities
C) Statfing
Sfalffingis Punction a hiring and retauning
the
both at
a Suitable uok -foxce r the enteT paise
manag Rgial CAS toe as hon-manaderial leuels
Itinuolue fhe process of xecruiti0g. rininG
ceveloping Comp en satinq and evaluating
employeeS nd main taininq thiS Okforce_with
prop& ncenhve Cnd motiyations Since
the
human element S the most Vital fctor in
Ahe process ot moncgement 1t 1S inopor tant t
xeCruit the signt pesonne
Accoxding to Koot2 0 DonnelL Manggena
functonof staffing inuolues manninq the Orcani-
2atlon SBucture throug h the prope andeffectiue
Selekion appraigal &deueb pment OF peTSonnel Fo
PiL the Toleg de sianed in the siructure"
This function 1S Uen mot Caitically impor tant
Since people differ in thei inltlqence knowledge
Skisesperience, phusical Condtion, oge and
atttudeand this Complicale the fancHion-Hence.
MOnage.mentmust und er Stand, in addition to the
e chnica ond OpesatlonalCompeknCe Ahe
Socioloqi ca andpsuchologrcaul Structure o
the kforce
a Direcking
The dirccking Function is Concesned oith leadorship.
Communicatton ,_motluationond SupenuiSi0n S
that the emplouees pertoKm their acliuttie in
the moSk ekticie0t monnepo8Siblein 0Xder
to achieue the desited Oals
The leadesship element inuglue1SSuinq oF
1OStruC ons and quidinqthe Suboydina e akout
prOCRdurSes Ond method S.
The Comn unication mush be kpen both twaus So
that he ineormefion Con e2 pasced on to the
Subosdinalk Ond the Fredback seceved from
ther Motivation iS NeT AmpOxtant Since highly
motiyake Deople Shous extellent perfoam.anCe
iihess dixectlon {rO SuperiOrS
Supenuising Suborcllnak tould lead to
Continuous proor ess epoS as well aS assue
he Supeblors that the directons are belng
properlu Carie out
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e)Controind
The funclion of Contro) Consists Of Ahose
Octluitie that a undeia ken_Ho ensuxe that
the eyen ts do noi deviate from the pf-artapqed
plans. he actuitie consist ot esatlishm
slandards fo 00k pey Pormance megsurinq
pertor mance and coMpa sinq_It to_these Set
S tandards and takinqCoxhective act1ons al
CLnC hen ne ed ecto cortect any_deuidtionS
Accosding to koont2 &ODonnell Controllinq is
the meosuxement &Co keckion o peTfopnman.ce
octwiti D 9ubordindate in Order fo make_
gurt that the enErprise obiectiue and
plans desired to obBain hem as beinq aCComplished
The Con trolline Function involue
1aEstaishment of Standlard perkoMance
2)Mecs uremeat Ot actuo pefurMCn.Ce
9MeasUnlnq. ackual pestot mance_uth the pe-
deles mined standord ond ind.nau the
deui atlons
u Takina CorTeche actiOn
AL these ie unchions of Management cle
closely interrela Fed Hoa everhese functions
ane higny indiaHnauishable and virually un
eCOgni2able on the job \0ececsarythough
e put_each tuDCiion Separakely nto Focous
Onc dea withit
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Discuss ohetheY manageme nt S on 0st Sen.ce

0 pYOEession

To decide h e ther mancq.emen ig Scien.ceast

OX Oro teRSionOne has Fo Comptehe nd the
ChdracEeniskic sand olekinctian of Scenceart
CLnd protecsio CAnd_agSocia te them lth_
manaaement detlna tion and draits.
C Maroa@ment_ as an Axt
Axt implte agpli.ccton o koooledae & SkilL to
truingabout desired tesultg, An art may be
deined OS pensonal2 el ClQpli.cation of genera
heropetitica p inci pley or achieuinq best
possi ble results. Art ha the Follo@ing Chona dex.s
) Proctical knotoledae
Euesu CrtTequIre paetical koogmledqe therefox
learning a theOT1S not SufEicient. It is yery
imporiant o kn oo pactical applicatl on o
FheorekCo pncipeE:g fobecome a g00d
Poinler the pensOn May not Onlu be ROoo in g
Eerent colot Ond bruShe bul different
desianS, dimenSiOnSSituati on s efc fo Use them
OpPropi alel
A manoger Can 0euer 6e SuccessPul ust 6
Obtaunang degrRe or dploma n Mdnagement he musH
have olso knoa hog a appl UOT oUs Phinciplej
10
seal stuakions b FunctioNinq in capacily ot manager
 cIASSMAte
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PayeLI

9 PerSonal Skill
theoretical ba se may be Same fo
Although
Rvery astist but each One has his pon style
Ond
and opp roach towar ds his ob That is Loh the
level of Success and qualtty of pestogmance
di ffexs fYom one person t oanoth er. F q hee
OR Sevet al_ qualified paintes hut M.f. Hussiaun
is secoqni2ec on hto Syle. Stmilarly rNanagemet
as Gn Oxt is also perSonali2ed
Everu madager hag his oon t00 OF maAaqin
Hhings bas.ed on his kno@ledgePKpenience and
perSODdfityHhal is whu Sone Mandgersa
OCO as qo0d Managers Clike Adityq Birla
Reahul Bojaj iuhertas ofher ac bad
) CrEadiuity
Evex
Eye artist hag an element of eatluiky in
line TRat is why he aims at produCing Somehing
hat has neier existed before ohich equires
ombination ofintelligence &imaginallon
Manaaerment 1S also Creca tivein Aature like
Dny oiher o s i t Combln human and non
human2SOurCein Usefu uay So as t0
ochieve desised sesults. t t i e to praduce
S eet misic by Comblnina Ch.ords in d0
ecent monnex
4 Pesfecion Ahrough prociice
PrOckice rmakes a Man perfect Eyery ast ist
becomes(mOe Ond more proficient Arugh
 Pag

Congtant practice SimilOT managerearn

through_an art of Artal ond eTOG initially
but appli.cation O monagement princlpleg
oves Ahe ue cirS make them_pextect in the
ob o manaaLn
5) hoal - Orien ted
tye'ry ax is seSultOsiented CIS it Seeks fo
eAchievNe_ Oncre k xeSultSla the Same
manner
management g alsodirected touards accomplish ment
ofp&e- detemine c goals ManageTS USe Uanious
tSo urCej_ liRe_ men mon ey. maten
aL machinery
&met hods to promo R Qrooth af an
OTganzation
hus e Can Stau that management is On_
r t thee fone t sequixe applicatLon o
Cstain pinciples kathen i O0 Ox F
high Osder because tdeals i h mouldinq_
the adAI tude and be haui ox of people at OFk
ouond S desirfd aoals
bMOnaaement Cls a 5cience
Science isa Sustemctic bodo
Rooulede
pestainung to a Specific ield of skudy that
Cont ains qeneral Facks cohtch xpldinss a
phanomen0n I establish e Cause and effec
elotianShip betuneen tuo)a or m0e VOniablei dnd
Undenlin the principle Qgvenning thier Keladtonship
hese pincip leS Ove eveloped thraugh Scientic
method Of Obseruction and JOUTGtio Jeification
Ahrough eting
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Pago 13

Science is Characlesized by FollocoInq MCLLA

eaturR
Oniuersally cCepha nce prindiplea,
Scientific pnciple xepreS Dis basic truth Cubau
O ponticular field of enquin Thete principleg
may be 0pplitd in al SItuationsCt a l ltime
&_Ct all place fq aw of arauí tation 0hith
Can be 0pplied10 al Countries ixrespechive aE
the time
Mandgem ent CuSo Conkaung Some fundamevt.cul
phincip le hich Can be 0pplied uniyens.olly like
Ahe Principle ot Unity o Command e one Mon,-
OA bosS This principle is aPplicable to all
tupe o OTOanization businesr or hon busSiness
ExoesimentaBion &Ohsevation e
Scieniftc_printiple) 0e demuedthrough
Scientihic inuefgation & eseasChinq 1.e they
Ae based on loqicE the prindiple that
ROxth Q0e TOUndthe Sun has_been Scentifically

Monaaement_pinciple ae allo based 0n

Sclentitic enquiu&dbseruation and not Only
t h e Dpinion Henryfayo They haue
been develqpe d AhYOugh expeniments prachiccl
eKOenCRS Lorae n OF managerelf9 t
i bserUeO that fair semunerahon to
oTCR
helos in CreatiAq Satafied 100rk foTCe.
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Caus.e &Pfkect Relationship

Painciple o SCLencelay down Cause nd
efect elati.onship bekcoeen yaJous vanablei Eq
hen mefals O heated they aa expandedThe
Caug es 1S hecuting& result iS eK paNGÍOn
The Same iSrue foS Managemen themefone,
therefot s it alSo etabli shes Cause_and
RHPect xelationShip E.q lack oP panhy (balaAce)
betrop Pen Outhoity2 reLponsibility tol|| leac
ead to
to
inteciUe nese SimilLagly iLOOk er 0t_giuen
bonuse Fcr UDOge they will o 03k hand
but when noB reuted in Fair and_ust
mann e Yeduce pOductiui ku of 0xCLCLnization
u)Sástematic Bndu of knawledae
Managementi not_a Science ike phygiles
Ahemistry o1 biologult 1s a Scíence hleh
deals oslth_ human beings Management hcu a
he orie Ond COncepts Vaniou principle of
mancgment ke unity of Command, olíuision of
labo0 unih_ot dit ciion Ore all univer Sally
CCepe d pdadple Manqement ollous poCedue
ike Collechto.q ddla,andly2inq ind draolnq
inference FYOM Th makO mana.o/ement a
Seience
5)Tes of Validil &PrediCAabiliHy
Nalidity of SCientC print iples can be
teted o Onu time os any Oumber of \imea ie
Ahe shond the xe test of Ame. Each_ m
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hese esls Fuhue

gue Same esult MoreoveGukie
yents Ccun be_prediced t h res.anable accyyoy
bY Usin Sceniifit principles t.g Ha & 0, oi
aloaysqiue Ho 0
rinciplex O mana.gernent Caun also be lesed
Fo alidiky E g pinciple o uniA o Comfngn.d
Can be eted b Campaning w0 ensons= One
hauing Single boSs and anehauing9 bose
The pertoamonce a 1st pen Son01 be beHker
than qnd
Cannot be deniedthat manaqgement houi a_
Syslematie body ot Knotaledge but it 1S not ac
RxaCi CLS thaof Other phusi.coal SCience like
biologyphusics and hemitkru efc he main
RaSon S fox the I0eKaCEnese O SCiên.ce o
mondaRment G that IT_deale gith hdman
beingg O0d it i e dEACulE f0 preditt
Aheir_behaut os CCCuraely.
C)Mand.aement d Profeccion
Over Olorge decade fackob Such ac
axoing Stze ok busineas unit Separdian
oonership rom m0nac emen QXOLing
Coempetition etc ho led to an inGPaLed
demand
derm and fo pT o eSsionallu_ aquali Fred mdnagens
The Se tosk of man0ger ho beeN Quik
SPeciali2ed As e u l t of he se deuelopmenkg.
the monggements hoseuched 0 Shoge ohee
QJRuthina i t o be managed pxoes&ionallu
A protessi.on ma bedetlned ds an OCCupationthat
equire Speciali2ed Knowledge and intnsiure
Cademi prepanali.ons to 0hich entry is zequlatd
bya epeentatlue body The essentials of a
2ofeS cion
D Speciolized Knnaledae
_pXoFetion must have aSuste matic body
of Knoguled ae that Con he used fom deuelopman4
o pToke sir ongl Eye ptolesSLonal muct malkRe
de iberak eFFo zk to acqui _Exp eYtLSe0
he pinciple Ond Rchn iauej Similody o
macaQe must have deuotion and inualue ment
acauire KpeIAt se 0 Science o mandgemenk.
Fos ma fducation Trainina
There C no ot inStituley Ond uOIVesitiu
to imoont eduCation & raining fox a
poRssioA No GneCGa pYactCe CtokeRtion
thout Qgin thYOUugh a presaibed CourLe,
ManyingtilukR Of Managemen have been get
up fot impantina education and izaining. foz
no minimum aurditifatlons Od a Coudrs of ZY
Studa Fon eKump.e, d CA Cann.ot dudit th
Alc's untesg he haj G.cquire d a cleqree o
diploma f o x the Some but no minimum quali Hications
cind
and O CoUTSR ot Stud
hos been pRCribed
oOT mona.aerbu latoFor exum.ple MBA
6 b poce R ed butno necessa
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Social ObfaationS
hote scion i a 9ource of liueli'hood but
ote CSlonals 0 primanly motiualed by the
desled to SRTVR Ahe Soctely Their Octions
Oe intuented bu Socta nosms Ond yalu
Similanly a mancger i responSible notOnly to
itS OuNRTSbut also to the SoiPl and
Ahere Fo he i Kpeced t0P3OUide Cqu.adiy
q0ods at Teasongble pmice to the SoCLeky
u)Codeot Conduct
Member OF a pRotessioo haue to abide by a
Code ok Conduct hich Contain estain rule
and seaulation s nODms Of hon 10egriy
Ond
Ond Spec icethicsA Cocea Conduct ic
De2en hattye a SS OCaton
to enSure sele discipline among i s
membesS An member violatin a the Code of
Conduct Can be QuniShed Ond hig membenship
Con be idhdro The AIMA has preiCsibtd a
Code o COnduct Eor manageR bui it haj no might
to oke esaal oction Gacainst any magqeT whd
Noilets it
5RepeSRDtIve As.ociaior
FO he sequlation of profession, exiskance
ot as epesentaBiue body 8 a mugt fos
xomple o0iaStituo t Chasled ACcountantc
nda estatsheg and adminislens standonds
o f CompelLen.ce o t h e auditor but he AlMA
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howeuer do not have any Stafuar poLser

to regu laR the octiuitie manaqers
From abaue discustioniE i quie cleax
that managemeniFulfills Seyeal essentialg o
proksi00 Puenthen t is not a full fled ge d
rokssion becauSe
I t doea nat ehicied the entru in manag@rial iab
For OCCount ofoNe gtaodond o oth er
h) o minimum qualifications have been prestribed
fox maaaeri
t minirmumooriatinn ho the authori o got
O KenAitica e of pyockice a uoniaus nonagen
i An mongoLr R SuppoStd Fo abide by the
CodeoTtuloled by AlMA
Compe ent educatian and traininq facilitie do
nat Ris
u) Monoaens ae pansilo to manu QrOupc Such
OS Shothaldens emoloue@ ond Societ. A requlatory
CodR m.ou Curoi iheir Ereedam
Ui M0n.og bei One koo ton_ by thet pentormance
Ond no mer degee
The ulkimote g0a of businessto maximize
peoi ond notSDeial welfone.That S
h Hagca hos rlghtly sem anked The
Slosan or mono9 oments becomingHe
h er bet, olso protits most