Business Studies Part I
Business Studies Part II

Concept of Management

Management aims at guiding their efforts towards achieving a common objective โ€” a goal. Thus, management has to see that tasks are completed and goals are achieved (i.e., effectiveness) with the least amount of resources at a minimum cost (i.e., efficiency).

Primary functions or activities that management performs to get things done.
These functions are:

  1. Planning
  2. Organising
  3. Staffing
  4. Directing
  5. Controlling