Presentation on Chapter 1 ( Nature and Significance of Management ) of Class 12 Business Studies. Contents: Concept and Importance of Management, Nature of Management as Art, Science and Profession, Levels and Functions of Management, Concept and Importance of Coordination.

1. Presentation
NATURE & SIGNIFICANCE OF MANAGEMENT
By –Ankita Sinha
Sampurna Jamaiyar
Shubham Sharma
Shiksha Kumari
Directed by- Preksha Mehta

2. NATURE AND SIGNIFICANCE
OF MANAGEMENT
Meaning of Management
Management can be defined as a process of getting things
done with the aim of achieving goals ‘effectively’ and
‘efficiently’.
Effectiveness- Getting the work done on time.
Efficiency- Getting the work done with less cost/ least
wastage.

3. Characteristics of management
• Goal oriented- Management is done to achieve goals of an organisation .
• Continuous- Management is required on a regular and ongoing basis.
• Pervasive- Management is required in all types of organisations and in all
departments of an organisation.
• Dynamic- Management is dynamic because it has to adapt /adjust itself to the
changing environment.
• Group activity- Management is a group activity as it involves teamwork of all
people working in an organisation.
• Multidimensional- Management is called multidimensional because it has
three dimensions.
 Management of work.
 Management of people.
 Management of operations.
• Intangible force- Management is called an intangible force because it can’t be
seen or touched but it’s presence can be felt.

4. Questions
1. ‘Successful organisations do not achieve their goals by chance, rather
they have to follow a process’. Name the process.
2. ‘In an organisation employees are happy and satisfied. There is no
chaos and the effect of management is noticeable’. Which
characteristic of management is highlighted by this statement ?
3. ‘An organisation consists of diverse individuals with different needs.’
Which feature of management is highlighted?

5. Objectives of Management
There are three objectives of management:
1. Organisational objectives-
Organisational objectives includes-
• Survival
• Profit
• Growth
2. Personal objectives- These objectives relate to the employees of an organisation.
For example
• Opening schools for children for employees.
• Providing employment facilities to employees.
• Providing training to employees .
3. Social objectives- These objectives relate to the welfare of society .For example
• Using eco-friendly techniques.
• Providing employment opportunities in rural areas.
• Providing good quality products at fair prices to the customers.

6. Importance of Management

7. Reasons That Have Made Management So
Important :
 Management helps in achieving group goals
 Management increases efficiency
 Management creates a dynamic organisation
 Management helps in achieving personal objectives
 Management helps in the development of society

8. Management helps in achieving group
goals :
 Management creates teamwork and coordination in the
group. Managers give common direction to individual
efforts in achieving the overall goals the organization.

9. Management increases efficiency:
 Management increases efficiency by using resources in the
best possible manner to reduce cost and increase
productivity.

10. Management creates a dynamic
organisation :
 Management helps the employees overcome their
resistance to change and adapt as per changing situation
to ensure its survival and growth.

11. Management helps in achieving personal
objectives:
 Management helps in the individuals achieve their
personal goals while working towards organisational
objectives.

12. Management helps in the development
of society :
 Management helps in the development of society by
producing good quality products, creating employment
opportunities and adopting new technologies.

13. Question On Objectives Of Management
 To meet the objectives of the firm the management of
Angora Ltd. offers employment to physically challenged.
Identify the objective it is trying to achieve.

14. Levels of Management

15. There are Three Levels Of
Management
 1. Top Management
 2 . Middle Management
 3 . Supervisory or Operational
Management

16. Meaning Of Level Of Management
 “Level of management” means different
categories of managers, the lowest to the
highest on the basis of their relative
responsibilities, authority and status.

17. Top Management
 Consists Of Chairperson, Chief
Executive Office, Chief Operating
Officer or equivalent and their team
chief task is to integrate and to
coordinate the various activities of
the business, framing policies,
formulating organization goals and
strategies.

18. Middle Management
 Consists of Divisional or Departmental
heads, Plant Superintendents and
Operation managers etc.Main tasks are
to interpret the policies of the top
management to ensure the availability
of resources to implement policies, to
coordinate all activities, ensure
availability of necessary personnel &
assign duties and responsibilities to
them.

19. Supervisory Or Operational
Management
 Consists of Foremen and supervisor etc. Main
task is to ensure actual implementation of the
policies as per directions, bring workers’
grievances before the management & maintain
discipline among the workers.

20. Questions Of Levels Of Management
Identify the level of management
engaged in the following activities:
1. Drafting departmental policies
2 . Appointing departmental heads
3 . Interpret policies of top level
4 . Analyse the business environment
5 . Developing day – to – day work
schedule

21. Functions Of Management
 Planning: Thinking in advance what to do, when to do,
and who is going to do it. It bridges the gap between
where we are and where we want to reach.
 Organising: Organising means deciding the framework of
working how many units and sub-units are needed, how
many posts are needed, how to distribute the authority
and responsibilities.
 Staffing: It refers to recruitment, selection, training,
development and appointment of the employees.
 Directing: It refers to guiding, instructing, inspiring and
motivating the employees.
 Controlling: Controlling is monitoring the organizational
performance towards the attainment of the
organizational goals.

22. Questions
 Identify the Management function Engaged in the following Activities :
1. Formulation of policies and Strategies.
2. Division of activities and creation of Organisational Structure.
3. Comparison of actual performance with standards.
4. Management in action.
5. Manpower planning.

23. NATURE OF MANAGEMENT AS A SCIENCE
Science is a systematic body of knowledge that is based on general truth which can be
tested anywhere anytime.
THE FEATURES OF SCIENCE ARE AS FOLLOWS:
1. Systemized body of knowledge : Science has a systematised body of knowledge based
on principles and experiments .This feature of science is fully present in
management because it has also theories and principles and its knowledge can be
acquired.
2. Principle Based On Experiment And Observation : Scientific principles are developed
through experiments and observations . This feature of science is not fully present
in management because management deals with human beings and observation of
humans can not be done with 100% accuracy.
3. Universal Validity: Principles of science can be applied in each and every situation .
This feature of science is not fully present in management because principle of
management may have to be modified as per the given situation.
CONCLUSION :Management is a science but its not exact pure science . It can be called
as soft and inexact.

24. NATURE OF MANAGEMENT AS
PROFESSION
Profession means an economic activity in which specialized knowledge and skills are required
and entry is restricted.
The Main Features of profession are as follows:
1. Well defined body of knowledge: All the professions are based on well defined body of
knowledge . This feature of profession is fully present in management.
2. Restricted entry : The entry in profession is restricted through examination or through some
minimum educational qualification . This feature of management is not fully present in
management because no minimum qualification is required to become a manager.
3. Professional associations: All professions are affiliated to the professional body which
regulates entry and frame code of conduct relating to the profession. This feature of
profession is not fully present in management.
4. Code Of Conduct: All professions are bound by a code of conduct which guides the behaviour
of its members. This feature of profession is not fully present in management because
there is no compulsory code of conduct for manager.
5. Social Service: The main aim of a profession is to serve its clients . This feature of profession
is not fully present in management because the main motive of management is to achieve
predetermined goals.
CONCLUSION:
Management is in developing phase of profession . It is not a full fledge profession.

25. MANAGEMENT AS AN ART
Art refers to skilful and personal application of existing knowledge achieve the desired
result.
The Features Of Art Are As Follows:
1. Existence Of Theoretical Knowledge: In every art, systematic and organised study
material is available. This feature is present in management because books and
literature are available in the field of management.
2. Personalized Application: Application of theory differs from person to person and
thus , art is a very personalized concept . This feature of art is present in
management because different managers apply their knowledge differently.
3. Based On Practice And Creativity: Art involves a consistent and creative practice of
existing theoretical knowledge. This feature is present in management because
regular practise is required to become a more effective manager.
CONCLUSION:
Management is an art because all the three features of art are present in management.

26. COORDINATION
Coordination is the process of integrating the efforts of different individuals towards
organizational goals .
Features Of Coordination:
1. Coordination Integrates Group Efforts: It integrates diverse business activities into
purposeful group activity ensuring that all people work in one direction to achieve
organizational goals.
2. Coordination Ensures Unity Of Action : It directs the activities of different department and
employees towards achievement of common goals and brings unity in individuals efforts.
3. Coordination Is A continuous Process: It is not a one time activity, it is required on a
regular basis.
4. Coordination Is All Pervasive : It is required at all levels of management and in all
departments of an organisation.
5. Coordination Is The Responsibility Of All Levels Of Manager: It is equally important at all
level i.e. Top, middle and lower levels of managements thus it is the responsibility of all
managers that they make efforts to established coordination
6. Coordination Is A Deliberate Function: Coordination is never established by itself, rather it
is a result of conscious efforts on the part of every manager .

27. Need OR IMPORTANCE OF COORDINATION:
1. Growth in size : When an organisation grows , the no. of
employees also increases. Coordination is needed to
resolve the conflicts among the employees of an
organisation .
2. Functional Differentiation: There are various departments
in an organisation such as finance department ,
marketing department , production department and
purchase department . Coordination is needed to resolve
the conflicts among the various departments of an
organisation.
3. Specialisation: Coordination is needed to resolve the
conflicts among various specialists working in an
organisation .

28. Coordination is called as an essence of management : Coordination is called essence of
management because –
1. Coordination is required at all levels of an organisation :
a. At top level management : It is essential to coordinate activities of an organisation.
b. At middle level management : It is essential to coordinate activities within the
departments and with other departments .
c. At lower level management : It is essential to coordinate activities of workers.
2. Coordination is required in all functions of management :
a. At planning stage: Coordination is required among various plans of an organisation .
b. At organising stage : Coordination is required among various resources and also between
authority , responsibility and accountability.
c. At staffing Stage : Coordination is required between skills of an employee and job given
to him.
d. At directing stage : Coordination is required between superior and subordinates and
among orders instructions and suggestions .
e. At controlling Stage : Coordination is required between standards and actual
performance.

29. Questions
 Is coordination a separate
function of management?
 What is the requirement of
Coordination ?

30. Thank you