• As a noun; group of people who are performing managerial activities
• As a discipline; branch of knowledge concerned with study of principles
  practices and theories of administration
• As a process; a series of interrelated functions such as planning, organizing,
  staffing, directing and controlling
• Management is the art of getting things done through and with others in a
  coordinated manner to achieve desired goals
• Thus, it is the art of managers in directing and controlling people to coordinate
  their efforts towards organizational goal achievement

• Planning: Initial and basic function and deciding in advance what to do, how to
  do, where and how to do it, bridges the gap between present state and desire
  future state
• Organizing: Process of accumulating together all the organizational resources and
  establishing productive relation among them, also known as act of acquiring and
  mobilizing organizational resources
• Staffing: Key managerial function concerned to hiring and retaining competent
  manpower, includes recruitment, selection, appointment, training and
  development, motivation, employee relation and discipline, grievances handling
  etc.
• Directing: Major managerial function which brings an organization into action,
  act of assigning duties to subordinates and providing guidance, it involves
  communication, supervision, motivation, leadership and coordination
• Controlling: Final step in management, process of correcting performance of
  individual, department and whole organization, involves setting standards,
  measuring and comparing actual performance with standards, identifying
  deviation if any and taking corrective actions

• Role of Education: Equip people with knowledge to develop positive behavior,
  provide theoretical knowledge to enhance managerial skills, makes person logical
  and rational, minimum is bachelor and at present masters in management is
  eligible requirement.
• Role of Experience: Managers require some experience in related works, they
  improve their conceptual skill and insights by experiencing day to day managerial
  pressures, challenges, business complexities and so on, at least two years
  experiences is minimum requirement.
• Role of Situation: Greatly affects managerial activities, a particular technique,
  principle or model doesn’t work properly in all situations, managers should be
  able to understand, analyze and apply the right method to a particular situation

• Top Level Management; key level, brain, apex body, consists BOD, Chairman,
  Vice-chairman, GM,MD,CEO, responsible for welfare, development and continuity
  of the organization, responsible to shareholders and society
• Middle Level Management ;role of mediator creating link , includes
  departmental, divisional, branch heads, responsible for implementing plans
  policies and strategies formulated by top level, spend more time in organizing
  and directing function
• Lower Level Management; operating/Supervisory level, consists supervisors,
  foremen, section officers, superintendents, directly interacts with the workers,
  works as mediator between management and non-managers(ie. Workers) , entry
  level and also called first line management

A) On the basis of levels of management

1. Top Level Managers
2. Middle Level Managers,
3. Lower Level Managers

B) On the basis of nature of managerial job

1. Generalist manager; are not assigned a particular job but have to look after
   overall activities, have a set of broad skills and perform various types of jobs as per
   organizational requirement, CEO, executive directors, GM, MD, presidents, vicepresidents etc]
2. Functional Managers; responsible for a particular type of jobs, experts in
   specific function or area, have well defined duties and responsibilities, production
   manager, finance manager, marketing manager, department heads etc.
3. Staff Managers; professionals and experts in specific area ,play the role of
   advisor or facilitator to the line or functional managers, have only advisory
   authority no functional authority, provide information, suggestions and guidance
   to solve the problem, legal advisors, economists, technical officers etc

A. Interpersonal Roles; involve interaction and communication with
other

• Figurehead; act symbolic heads of their own units and perform various
  duties of legal and social nature, represent the organization in legal,
  social and economic forum, includes greeting visitors, signing legal
  documents, attending ribbon cutting ceremonies etc.
• Leader; influence the behavior of subordinates, they lead, guide,
  command, communicate, supervise, motivate and control activities
• Liaison; bridging or connecting two or more groups within organization
  or outside, managers make a network of outside contacts by attending
  meetings, conferences and making informal contacts with outsiders

B. Informational Role; concerned with acquiring, processing and
transmitting essential information

• Monitor Role; managers receive and scan the required information
  from internal and external environment of the organization to develop
  understanding of organization
• Disseminator Role; distribution and transmission of appropriate
  information is handled by managers
• Spokesperson; managers have to display organizational information to
  the outsiders like media, governmental agencies, society on behalf of
  organization

C. Decisional Role; involves making the best choice to solve
organizational problems

• Entrepreneur Role; involves generating new ideas, implementing them
  and taking initiation new field
• Resource Allocator; manager allocates various resources like, human,
  financial, physical and informational resources properly for smooth
  functioning of organization
• Disturbance Handler; involves handling problem, disputes, strikes
  lockouts, etc. raised within the organization
• Negotiator; to bargain with others for organizational benefits on behalf
  of organization

A. Conceptual Skill:

• mental ability to diagnose and analyze complex business situation and
  to see the organization as a whole
• Ability to think in creative and abstract term to visualize and
  understand future and predict ideas and concept to recognize and
  organize relationship among various aspects

B. Human Skill:

• ability to work with, understand, motivate, other people individually or
  in a group
• Manager with ample human skill can lead sub-ordinates effectively and
  co-ordinate their efforts towards goal achievement

C. Technical Skill:

• Refers to proficiency and knowledge to perform specific task under the
  area of responsibility
• Related to handling of machine, equipment, technology and
  procedures of work

• Refers to the set of positions or title earned, jobs held and
  responsibilities or work accomplished in long time in course of
  occupation of any person
• Considered as comprehensive, challenging and interesting area of
  profession
• Broad scope because many business entities such as industries,
  hospitals, banks and insurance companies, educational institutions,
  etc. are providing managerial careers
• Managers represent all the employees ranging from the top level to
  bottom level management of organization

Total sum of all the components and forces of the surroundings that
influence the operation and goal achievement of the business

• Internal environment; aggregate of all the forces which are inside of
  organization and affect the organization; consists of organizational
  goals, culture, structure and resources
• External environment; consist of all outside component that affect the
  organization such as, competitors, customers, government agencies,
  political, legal, economic environment, etc.
• Impacts of internal factors is controllable whereas influence of external
  environment is not controllable

• Society is comprehensive component of external environment it
  includes total social forces within which an organization operates
• It involves traditions, social values, beliefs, norms, demographic
  composition of the community
• Composition of population such as age, sex ratio, migration ,reference
  groups, life styles, religions etc.
• Influences of social environment are not under the control of any
  organization, businesses should operate their activities as per the
  social environment to achieve their desired goals

• Duties or obligations of a business i.e. corporation towards its society
• Business and society are meant and existed for each other
• Should have some obligations towards society for their mutual benefits
• Consists investors, customers, suppliers, employees, community and
  government
• May have certain expectations from business organization
• To improve prestige, to develop good social relation, business should
  need to use certain resource to promote social welfare

The set of moral principles and rules guiding an individual’s behavior

• BE is a manager’s moral judgements about right and wrong
• Also known as managerial ethics, is the standard of behavior that
  guides them
• Refers to implementation of appropriate business policies and
  practices in making right managerial decisions
• Is the standard of the social norms and values, truth and justice that is
  accepted by managers

The collection of mechanism, process and relations by which
corporations are regulated and monitored

• Involves balancing the interest of stakeholders by carrying business as
  per their desires
• Application of best management practices, compliances of law,
  distribution of wealth, fulfilling social responsibility etc.
• Actually conducted by BOD or committee to govern the corporation so
  that interests of corporate owners are protected

Set of principles established by the founders of organization to
communicate its moral values

• Parameters of behavior that owners and top executives expect from
  employees, suppliers etc.
• Provides a framework to facilitate decision making process
• An important component of organization that promote trust, build
  reputation and responsibility