Business Studies Class 12 Chapter 1 Nature and Significance of Management Revision notes

Management is a process of getting things done with an aim of achieving goals efficiently and effectively

Management :

Effectiveness – Work on Time

Efficiency – Optimum utilization of resources

Features of Management :

1. Goal Oriented Process 2. Management is  pervasive 3. Management is Multi-dimension 4. Management is a continuous process 5. Management is a group activity 6. Management is a dynamic function 7. Management is Intangible in nature

The objective of Management :

1. Organisational Objective 2. Social Objective 3. Personal Objective

Importance of Management or Features of Management

1. Helps in achieving the objective 2. Provide effectiveness to human efforts 3. A critical ingredient in nation growth 4. Act as in balancing force accomplishment of group goals 5. Generation of employment opportunities 6. maximizing the production at minimum cost 7. Proper utilisation of resources

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