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Four types of management objectives are : 

1. Primary objectives 

2. Secondary objectives 

3. Personal objectives

 4. Social objectives

Management is an art and a science of getting the work done through others, minimising the costs, including all the activities from planning to controlling, to achieve the organisational objectives effectively and efficiently in an ever-changing environment.

Management is a purposeful activity as it has same predetermined goals to achieve.

Management is performed in all kinds of organisations, irrespective of their nature, type, size and purpose. Therefore, management is a universal activity.

Management is intangible because we can’t see it or touch it, we can only feel its presence.

Splendid Hindu Temple of Cambodia, Egyptian Pyramids and similarly, many other ancient heritage sites lead us to wonder about their construction and details of resource utilised. All this implies that management must have applied in the establishment and development of ancient civilisation. This shows that management is not a new concept, it’s centuries old.

It means that management is performed in ail the organisations at every level, irrespective of its nature, size and location.

Yes, management is intangible. We can’t see it, or touch it but can only feel it.

(c) Both (a) & (b)

Law management deals with providing justice, hearing of cases, analysis of different laws.

1. Henry Fayol 

2. F. W. Taylor

According to Lawrence Appley, “Management is the development of people and not the direction of things”.

1. Management is a human activity.

2. Management is a challenging task.

1. Development of teaching-training facilities. 

2. Expansion of teaching-training facilities.

According to Lawrence Appley, “Management is the development of people and not the direction of things.”

It deals with environment or protection of environment, checking and preventing pollution, maintaining ecological balance.

This branch of management deals with purchase, store and supply, lifting-keeping, maintaining stock and controlling raw materials or finished goods.

1. Functional areas of business management. 

2. Functional areas of non-business management. 

3. Emerging functional areas of management.

Environment is the surrounding atmosphere in which any organisation works or interacts in order for its survi val. If any organisation doesn’t work in accordance with the environment, then it won’t be able to survive in long term. 

Types of Environment: 

Two types of environment are there :

1. Internal environment 

2. External environment

1. Internal Environment : 

It includes the factors which are internal part of the organisation. Example of Internal Environment are employees, suppliers, consumers, etc. 

2. External Environment: 

It includes the factors which are outside the organisation. Examples are social, legal, political, technological and ecological forces.

1. Earnest Pale 

2. Joan Woodward.

In this era of cut-throat competition, demands of various interest groups are rising day by day, and to satisfy them is the utmost priority of the organisation for its survival and growth. So, every organisation needs effective and specialised managers to perform their functions. So, this is known as Functional Areas of Management.

It is divided into three categories : 

1. Functional areas of business management 

2. Functional areas of non-business management 

3. Emerging functional areas of management. 

1. Functional Areas of Business Management :

• Production Management: This is concerned with planning, organising, directing and controlling the activities related to production function in an organisation, with a view to produce goods or services efficiently and effectively.
• Financial Management : “Finance” is the blood for any organisation, it is the most important thing to manage the finance/capital of the organisation, and this is known as Financial Management. It includes capital management, issuing and raising of funds, making investments that can give a longer term profit, etc.
• Personal/Human Resource Management : Among the three resources of an organisation needed (land, labour, capital), human resources is the only active resource that manages the non-active land, capital in an effective and efficient manner. This is known as H.R. Management. It includes hiring of the right person at the right place, selection, training, development, performance appraisal, etc.
• Marketing Management : It includes the sale of finished goods, performing the market research analysis of market demand, customer satisfaction, selection of distribution channel and managing the 4 Ps of markets i.e. product, price, place, promotion. This is known as Marketing Analysis.

2. Non-business Management Functional Areas:

• General/Public Utilities Management : It includes services like water, power, gas, transport, communication, medical services etc. in its scope.
• Environment Management : It deals with the environment or protection of the environment. Checking and preventing pollution, maintaining ecological balance, pollution control and environment protection is the major responsibility of the government, society and industries.
• Education Management : It deals with development of teaching-training facilities, its expansion and related activities.
• Security Management : This area of management involves activities like formation of military organisations, their operations and control, so that our national security remains intact.

3. Emerging Functional Areas:

• Management of public enterprises
• Maintenance management 
• Investment and portfolio management 
• Entrepreneurship management 
• Small business management
• Farm management 
• Wholesale and retail management
• Safety and risk management.

Management is multi-disciplinary because it has its relation with other disciplines also. In management some of disciplines have contributed more and others less in making management a discipline. For example, Economics has contributed to management, political science has given organisation structure, theories, biology and psychology have given theories to understand and control human behaviour. All these cited examples make management a multi-disciplinary discipline.

1. Event management 

2. Management of changes. 

3. Time management 

4. Knowledge management

(a) environment management

Management is an environment-oriented activity. All the organisations work in a’ dynamic environment which changes frequently and affects the business activity. Both the internal and external environment significantly adapt to affect the working of every organisation. Therefore, management has to scan the environment and try to adopt the changes in the environment which is a must for any organisation for its survival and growth.

1. All the managers get the things done through other people.

2. The principles of management apply to all the organisations, in both developed and developing countries.

Profession based on branch of knowledge like material law, etc, is known as Fully Developed Profession.

Word ‘manager’ is derived from the Latin word ‘manure’ which means ‘hand’.

Nature of competition after liberalisation was monopolistic.

Definition of Management: 

Management is an art of getting the things done by other in most effective and efficient manner with optimum utilisation of resources.

Objectives of Management :

Management objectives are divided into four categories, 

They are : 

1. Primary objectives 

2. Secondary objectives 

3. Personal objectives 

4. Social objectives

Let’s explain these one by one. 

1. Primary objectives : 

The primary objective of management is to satisfy the expectation of different stakeholders of the organisation, so that the organisation can achieve those goals for which it was established. 

• To produce goods and services at minimum cost and to earn maximum profits. 
• To distribute the products and services produced at reasonable prices to satisfy the consumers. 
• To pay fair remuneration to all the resources employed.
• To earn adequate profits in the organisation.

2. Secondary Objectives :

Secondary obejctives are helpful in achieving primary objectives. These are related to the internal systems of the organisation, so as to generate maximum output with minimum resources. 

These are : 

• To enhance quality in various resources. 
• To use them at right time and at the right place.
• To establish coordination in their use. 

All the resources work as complementary to each other with effective working capacity

3. Personal Objectives :

In any organisation, personal objectives means satisfying the most important resource of any organisation i.e., human resource. Human resource is the only active resource in any organisation that manages the non-active resources in order to achieve organisational goals. So, to retain the human resource and to develop the environment that is favourable to the employees to work, is the objective of management.

4. Social Objectives : 

An organisation obtains title different resources (inputs) from the society and transforms them into final goods and products to the satisfaction of society and to earn profit. In social objectives following objectives are included:

• optimum utilisation and development of scarce resources. 
• To protect interests of different sections of society. 
• To uphold ethical behaviour and ethical practices. 
• To set examples of good business practices etc.

Meaning of Universality of Management :

It means that management is performed in ail the organisations at every level of organisation, irrespective of its nature, size, location and objective. 

The concept of universality of management implies the following:

1. The fundamental principles of management are applicable to all the organisations, regardless of their nature, size, location and kind.

2. All the managers perform the same function.

3. Management knowledge and skills may be transferred across the industries within and outside the country.

Arguments in Favour of the Concept “Universality of Management” : 

1. There is universality of management among all organisations. The functions of management (planning, organising, staffing, directors and controlling) are performed in every organisation.

2. All managers get the things done through other people.

3. The principles of management apply to all the organisations, in both developed and developing countries, and are equally applicable to all economic systems. However, they have to be modified and adopted according to prevailing situations.

Arguments Against the Concept :

Management practictioners and academicians like Earnest Pale, Joan Woodward, etc. disregard universality of management, they gave the conclusion that since human needs, objectives are different in different countries, so management principles can’t be universally applied. Not only this, we can’t equally apply same management principles in two different enterprises of the same nation. The application and non-application of management principles mainly depends on the following factors : 

1. Culture of the nation or organisation 

2. Objectives of organisat ion 

3. Organisation’s managerial philosophy/attitude.

1. Education management 

2. Law management.

With the increasing importance of management in an organisation to beat the competition, many new fields of management are emerging to beat this cut-throat competition and to provide an added advantage to organisation. 

Some types of emerging functional areas are:

1. Management of public enterprises 

2. Maintenance of management 

3. Investment and portfolio management 

4. Entrepreneurship management 

5. Small business management 

6. Farm management.

 7. Wholesale and retail trade management.

(i) Research and Development Management : 

This branch of management is related with development, expansion, innovation, technology advancements related to production, distribution and marketing of goods and services. 

(ii) Import and Export Management : 

The main function of import and export management is to plan, organise, direct and control the activities related to exporting and importing of goods and services. 

(iii) Accounting Management : 

This is concerned with maintaining records, book-keeping, ledger accounting, preparing cost accounts, making payments, managing cash flows, making final accounts, keeping record of assets, etc. 

(iv) Transportation Management : 

It is concerned with transfer of man and material safely from one place to another at less cost and in less time.

Marginal profession is based on technical skills, like draftsmen etc.

(b)  primary

Semi-profession is based on technical knowledge and practice, like nurse, laboratory assistant, etc.

Functional areas of business management are as follows :

(i) Production Management : 

Area of management which is concerned with planning, organising, directing and controlling the activities related to production function in an organisation. 

(ii) Inventory Management : 

This branch of management deals with purchase, storage and supply, lifting-keeping, maintaining stock and controlling raw materials or finished goods. 

(iii) Marketing Management : 

It is concerned with sale of finished goods, sales promotion, market research, establishment and operation of sales outlets, selection of distribution channels.

(iv) Personnel Management : 

This branch of management includes activities like : Manpower, planning, recruitment, selection, training and development, etc. Its main objective is to manage the manpower of any organisation. 

(v) Office Management : 

This area of management is concerned with the activities of correspondence, obtaining records, disseminating information received, maintaining chain of communication within organisation. 

(vi) Transportation Management: 

It is concerned with transfer of men and material safely from one place to another at less cost and in less time.

(vii) Accounting Management: 

Maintaining records, book-keeping ledger accounting, preparing balance sheet, making payments, etc. are part of this.

(viii) Import and Export Management: 

The main function of import and export management is to plan, organise, direct and control the activities related to exporting and importing of goods and services.

Importance of management is as follows : 

1. In overcoming competition 

2. Optimising utilisation of resources 

3. Innovation and its application 

4. Increasing and protecting the interests of organisation 

5. Economic development of the nation 

6. Coordination between different interest groups 

7. Stability in society.

1.  In Overcoming Competition : 

In this era of cut-throat competition, management plays an importunt role to overcome it through optimum utilisation of resources in the most effective manner to achieve the organisational goals efficiently to produce quality goods with minimum cost.

2.  optimising utilisation of resources :

Growth and development of an organisation is an important thing. But resources to attain this objective are limited so we have to use these resources in an optimum manner. Management helps us in this regard by proper placement or deployment of resources, so their wastage is minimum.

3. Innovation and its Application: 

In today’s world, innovations and their application is essential for multidimensional development of an enterprise. Innovation means to make new products, or to add new features, new uses, to an existing product. Main aim of innovation is to beat the competition and satisfy the customer with maximum benefits. Management plays a crucial role in innovation because it is management only that perfoms all the activities of innovation.

4. Increasing and Protecting the Interest of Organisation :

For any organisation, there are three important objectives to be achieved i.e., survival, profit and growth. These three objectives are inter-related, as for growth, survival and profits are essential for long term survival, profit and growth is required. Management helps in coordinating different activities of the organisation to ensure the survival growth of the organisation. If management doesn’t coordinate between things, it will be tough for the organisation to survive.

5. Economic Development of the Nation :

Management serves as a crucial factor for the growth and well-being of a nation. To beat the international market competition, it is essential to make domestic organisations effective and sound, to take the advantage of competition for the development of the nation, which is possible only by competent management.

6. Co-ordination Between Different Interest Groups : 

An organisation has different stakeholders or individuals with diverse needs and interest, e.g. in a business organisation, we have owners, employees, consumers, suppliers, creditors, investors, etc. All these have different interests in the organisation. Under this, management of the organisation coordinates the expectations of diverse and groups, so that expectation of each group is equal to their contribution towards the organisation.

Four points of importance of management after liberalisation are as follows : 

1. Nature of market is buyer-based, sellers have to work as per the buyer’s requirements.

2. Competition is very tough. Many sellers offer a single commodity, it’s customer’s choice which to buy. Previously options were less. 

3. Now, whole world is a market, no boundaries of internal trade, etc. 

4. Survival of the organisation now depends on the satisfaction of stakeholders, customers etc.

Four points of importance of management in pre- liberalised economy are : 

1. Nature of market was seller based, the seller formed the rules and regulations and people in that time followed it. 

2. Nature of competition was very less as compared to the present. Today, the world is having cut-throat competition. 

3. Source of competition was internal based. (Inside country only) 

4. Main objective of the organisation is to earn maximum profits only.

Ross and More said this.

(i) Overcoming Competition : 

In this era of cut-throat competition, every organisation is working hard for its survival and growth. So, sound management system is a must for any organisation to heat this competition and proves to be profitable for the organisation. 

(ii) Optimising Utilisation of Resources : 

Our needs and desires are endless and to fulfill those needs, resources are available in a limited quantity. So, this scenario is the same for the organisations also. They have limited resources and from those resources only they have to attain the desired results. So, management help in using the resources in the optimum manner for the settlement of an organisation.