Nature and Significance of Management | Class 12 | Chapter 1 | Business Studies 

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HEADINGS AND SUB-HEADINGS LIST 1. FEATURES OF MANAGEMENT A. Goal oriented process B. Continuous process C. Group activity D. Dynamic organization E. All pervasive F. Multidimensional a. Management of work b. Management of personnel c. Managment of operations 2. OBJECTIVES OF MANAGEMENT A. Organizational Objective a. Survival b. Growth c. Profits B. Social objectives C. Personal objectives 3. IMPORTANCE OF MANAGEMENT 1. Helps in achieving organizational goals 2. Creates a dynamic organization 3. Increase coordination 4. Development of society 5. Helps in achieving personal and group goals. 4. NATURE OF MANAGEMENT 1. MANAGEMENT AS AN ART A. Systematic body of knowledge B. Personalized application C. Based on creativty and practice 2. MANAGEMENT AS A SCIENCE A. Systematic body of knowledge B. Based on repeated experiments C. Universal validity 3. MANAGMENT AS A PROFESSION A. Sytematic body of knowledge B. Restricted entry C. Service motive D. Presence of professional association 5. LEVELS OF MANAGEMENT 1. Top level and their functions 2. Middle level and their functions 3. Lower level ans their functions 6. FUNCTIONS OF MANAGEMENT 1. Planning 2. Organising 3. Staffing 4. Directing 5. Controling 7. DIFFERENCE BETWEEN EFFICIENCY AND EFFECTIVENESS 8. COORDINATION A. COODINATION IS THE ESSENCE OF MANAGEMENT 1. It is needed to perform all functions of management 2. It is required at all levels 3. Most important function B. FEATURES OF COORDINATION 1. Integrates group efforts 2. Continuous process 3. All pervasive function 4. Deliberate function 5. Responsibility of all managers C. IMPORTANCE OF MANAGEMENT A. Growth in size B. Functional differentiation C. Specialization Thank you for reading

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hey there !!! I got a trick to remember the importance of management , which is DAADI . it means , 1. helps in Development of society. 2. helps in Achieving group goals. 3 helps in Achieving personal goals. 4 creates a Dynamic organisation 5 Increases efficiency . I hope it would help you 😃😃😃

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00:02 Management is crucial for achieving goals and success in business. 02:27 Management is the process of planning, organizing, motivating, and controlling. 06:45 Cost benefit analysis and goal-oriented process 08:53 Management is a goal-oriented process 13:06 Management is a continuous process. 15:39 Management is a dynamic and intangible force. 19:29 Survival, Profit, Growth in Business 21:10 Social objectives of management 00:00 Management is the process of getting things done with the aim of achieving goals efficiently and effectively.

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Watched this Topic One Before My Unit Test And Got Highest Marks in BST Thank you So Much Sir For Your Quality Explanation ❤

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Wow business ka 1 chapter hai sabhi log confidence se padhoge tabhi aage badhoge tand thank you so much sir for this video 👍

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If management is a group activity then what about Sole Proprietorship where an individual manages everything .

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Sir can we write the definition of management like this.. management is the process of designing and maintaining an environment in which individual working together in groups efficiently to achieve selected in aims.?

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Sir when will you launch New Millennium business studies for this batch?

Batch 2024-2025 😂

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I am 12th commerce seba this year our syllabus got changed , i notice that in the new syllabus importance of Mgt are there 3 types organisation, society & nation so i am kinda confuse what to follow?

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