Description

The concept of management is as old as the human race itself. Management is an essential element of organized society. Management is the crucial factor in economic and social development.Management is a problem solving process of effectively achieving organizational objectives through the efficient use of scarce resources in a changing environment. The above definition implies that a manager is to make decisions and solve problems. A successful management would devise means that are not only effective in achieving the goals but also are efficient in utilizing the resources. The resources of people, time, capital, raw materials are all finite and limited. These resources are all scarce in nature and cannot be expanded. Management involve making conscious efforts to make most use of these resources. The advent of computers and electronics has changed the way in which information is processed and handled for decision making purposes. The social standards have changed, styles have changed, many laws have changed towards protection of the individuals.