MICRO PROJECT REPORT ON

“Study of Concept, Principles and Function of Management”

SUBMITTED BY –

Sr. No. Name of Student Roll No.

1 Rushikesh Potdar 36

2 Apoorva Irabatti 44

3 Manasi Gavali 46

UNDER THE GUIDANCE OF

Mr.S.M.Dsouza

DEPARTMENT OF COMPUTER SCIENCE &

ENGINEERING SANJAY GHODAWAT INSTITUTE,
ATIGRE ACADEMIC YEAR: 2024-25
 Certificate
This is to certify that the Micro project work entitled

“Study of Concept, Principles and Function of Management”

Has been successfully completed by

In fulfillment for the

Diploma in Computer Science &Engineering

Maharashtra State Board of Technical Education

During the academic year 2024-25 under the guidance of

Mr. S.M.Dsouza Mr. S. V. Chavan

Project Guide H.O. D

Dr.V.V. Giri
Principal
 DEPARTMENT OF COMPUTER SCIENCE &
ENGINEERING

Program Code – CW-6-I

Course Name –MAN

Course Code – 22509

Project Title -“Study

of Concept , Principles and

Function of Management”

Micro
Sr. Roll Enrollment No. Exam
Name of Student Project Total
No. No. Seat No.
Marks

G I 6+4 =10

1 36 Rushikesh Potdar 2216440382

2 44 Apoorva Irabatti 2216440390

3 46 Manasi Gavali 2216440392

Mr.S.M.Dsouza

Course Faculty &Signature

Program Name – Computer Science & Engineering Program Code – CW-6-I

Course Name – MAN Course Code – 22509

Project Title - Study of Concept , Principles and Function of Management

Course Outcomes (CO), Practical Outcomes (PRO’s) and Unit Outcomes (UOs)
Mapping

PRO’s
Cos Mapping UOs
PRO’s.
 MICRO PROJECT DIARY

Sr.
From Date to Date Activity Performed
No.

1 2 Jan- 3 Jan 2025 Introduction

2 10 Jan -15 Jan 2025

22 Jan – 30 Jan 2025

3
4 2 Feb – 10 Feb 2025

5 15 Feb – 28 Feb 2025

6 2 Mar 2025 Conclusion

7 13 Mar 2025 References

8 Submitted date
 INDEX

Page
Sr.
No. CONTENT No.

1 Abstract 1

2 Introduction 2

3 Concept of Management 3

4 Principles of Management 4

5 Function of Management 5

6 Applications of Management 6

6 Conclusion 7

7 Reference 8
 Study of Concept, Principles and Function of Management

ABSTRACT
Management is an essential function in any organization, ensuring the effective utilization of resources and
directing efforts towards achieving organizational goals. This microproject explores the fundamental
concepts, principles, and functions of management, emphasizing their significance in business operations.
It also highlights various management theories, levels of management, and real-world applications to
provide a comprehensive understanding of the subject.

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 Study of Concept, Principles and Function of Management

INTRODUCTION

Management is defined as the art and science of coordinating efforts through people to achieve specific
objectives. It involves planning, organizing, staffing, directing, and controlling organizational activities.
The study of management helps in understanding how businesses operate efficiently and achieve their
goals effectively. Organizations depend on sound management practices to survive in competitive
environments.

The concept of management has evolved over time, influenced by industrial revolutions, technological
advancements, and changes in workforce dynamics. Early management theories focused on efficiency and
productivity, whereas modern approaches integrate human relations, leadership, and strategic planning.
Management plays a vital role in both small and large-scale organizations, ensuring smooth workflow and
optimal use of resources. Without proper management, businesses may struggle with inefficiency, low
productivity, and lack of direction.

In today’s rapidly changing business environment, managers are required to possess strong decision-
making skills, adaptability, and a keen understanding of market trends. The role of management extends
beyond business and is crucial in sectors such as healthcare, education, government, and non-profit
organizations. By applying management principles, organizations can achieve growth, stability, and long-
term success.

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 Study of Concept, Principles and Function of Management

Concept of Management:

Management is the process of planning, organizing, leading, and controlling resources, including human,
financial, and material assets, to achieve desired objectives. It plays a crucial role in ensuring efficiency,
productivity, and sustainability in organizations.

Management is both an art and a science. It is an art because it requires skills to coordinate and get work
done through people. It is also a science because it follows systematic principles and established theories
that guide decision-making and problem-solving.

Importance of Management:

1. Optimum Utilization of Resource – Effective management ensures that resources such as

manpower, machinery, and capital are used efficiently.
2. Expansion and Growth– Organizations need structured management to expand and sustain growth.
3. Increases Productivity – Proper management strategies enhance employee productivity and
organizational success.
4. Minimizes Wastage – Efficient planning reduces waste of time, materials, and effort.
5. Encourages Innovation – Encourages employees to contribute innovative ideas to improve
products and services.

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 Study of Concept, Principles and Function of Management

Principles of Management

Henri Fayol and Frederick Taylor introduced key management principles that are widely
used today. Some of these principles include:
1. Division of Work - Specialization increases efficiency.
2. Authority and Responsibility- Managers should have the authority to give orders,
balanced with responsibility.
3. Discipline - Essential for smooth operations.
4. Unity of Command - Each employee should receive orders from only one superior.
5. Unity of Direction - All activities should be aligned towards organizational goals.
6. Remuneration - Fair compensation for employees.
7. Centralization and Decentralization - A balance is required for effective decision-
making.
8. Scalar Chain - Clear hierarchy from top to bottom.
9. Equity - Fair treatment of employees.
10.Stability of Tenure - Reduces turnover and enhances productivity.
11.Initiative - Encouraging employees to contribute ideas.
12.Esprit de Corps - Promoting teamwork and unity.

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 Study of Concept, Principles and Function of Management

Functions of Management:
Management consists of five core functions:
1. Planning - Setting goals and outlining strategies to achieve them. This includes long-term and short-
term planning, as well as contingency planning for unforeseen situations.
2. Organizing - Allocating resources and assigning tasks to individuals or departments. It involves
creating an organizational structure that ensures smooth workflow and coordination among different
units.
3. Staffing - Recruiting, training, and retaining employees. The right personnel are essential for the
success of any organization.
4. Directing - Guiding and motivating employees towards objectives. This includes leadership,
communication, and motivation techniques.
5. Controlling - Monitoring performance and implementing corrective actions. It involves setting
performance standards, evaluating actual performance, and taking necessary corrective actions to
align with organizational goals.

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 Study of Concept, Principles and Function of Management

Real-World Applications of Management:

1. Business Organizations: Companies use management principles to improve production, marketing,
finance, and human resources.
2. Healthcare Sector: Hospitals and clinics manage staff, resources, and patient care efficiently.
3. Educational Institutions: Schools and universities manage faculty, students, and curriculum planning.
4. Government Organizations: Public sector organizations manage policies, resources, and services for
citizens.
5. Startups and Entrepreneurship: Effective management helps new businesses grow and sustain in
competitive markets.

Challenges in Management:
1. Technological Change - Managers must adapt to rapid advancements in technology.
2. Workforce Diversity - Managing employees from diverse backgrounds.
3. Ethical Issues - Ensuring transparency, fairness, and corporate social responsibility.
4. Crisis Management - Handling emergencies such as financial crises, pandemics, or natural disasters.

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 Study of Concept, Principles and Function of Management

CONCLUSION
.
Understanding the principles and functions of management is crucial for the success of any organization.
The study of management encompasses its functions, principles, and concepts, which are essential for
organizational success. The functions of management—planning, organizing, staffing, directing, and
controlling—help businesses achieve efficiency and productivity. The principles of management,
introduced by pioneers like Henri Fayol and Frederick Taylor, provide a structured approach to leadership,
decision-making, and organizational structure. The concept of management integrates both science and art,
ensuring that resources are utilized effectively to meet business objectives.

By applying management principles and functions, organizations can enhance productivity, maintain
discipline, and ensure smooth operations. In today’s fast-changing business environment, understanding
these aspects enables managers to make informed decisions, drive innovation, and maintain a competitive
edge. Ultimately, management plays a pivotal role in achieving growth, stability, and long-term success
across various industries.

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 Study of Concept, Principles and Function of Management

1. REFERENCES

• Management (22509) Textbook

• https://www.simplilearn.com/principles-of-management-by-henri-fayol-article
• https://www.shaalaa.com/question-bank-solutions/explain-meaning-of-principles-of-
management-and-discuss-the-nature-principles-of-management_79597

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