Nature and Concept of Management
Nature and Concept of Management
AND CONCEPT OF
MANAGEMENT
DEFINITIONS
Management
- The process of designing and maintaining an
environment in which individuals, working
together in groups, efficiently accomplish
selected aims.
- Management is concerned with productivity,
which implies effectiveness and efficiency.
DEFINITIONS
Productivity, Effectiveness, and Efficiency
Productivity: The output-input ratio within a
time period with due consideration for quality.
𝑂𝑢𝑡𝑝𝑢𝑡𝑠
Productivity =
𝐼𝑛𝑝𝑢𝑡𝑠
DEFINITIONS
Productivity, Effectiveness, and Efficiency
The formula indicates that productivity can be
improved by:
a) Increasing outputs with the same inputs
b) Decreasing inputs but maintaining the
same outputs
c) Increasing outputs and decreasing inputs
to change the ratio favorably
DEFINITIONS
Productivity, Effectiveness, and Efficiency
Effectiveness: “Doing the right things”: the task
that help an organization reach its goals.
Efficiency” “Doing thing right”: the efficient use
of such resources as people, money and
equipment.
DEFINITIONS
Managers
- The term manager is a person who has
responsibility for the activities of other people
in an organization.
DEFINITIONS
Three main types of managers
General