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Showing posts from June, 2012

Management

M anagement is a technique used for optimum utilization or resources. In other words it is a process of getting things done with the aim of achieving goals effectively and efficiently. Effective and efficient are different term but they are interrelated. In term of management it is important to be both effective and efficient. Effectiveness in management is concerned with doing the right task at right time and efficiency means doing the task correctly in minimum cost and time. Effectiveness and efficiency are two side of the same coin and need to be balanced. Management has been defined by different authors in a number of ways. The following are some of the main definitions of management: According to Mary Parker Follet "Management is the art of getting things done through people." According to Harold Koontz "Management is the art of getting things done through and with people in formally organized groups." According to Henri Fayol "To manag