Principles of Management

Synopsis & Scholarly Abstract

Management is a vital aspect of the economic life of man, which is an organised group activity. A central directing and controlling agency is indis- pensable for a business conce . The productive resources – material, labour, capital etc. are en- trusted to the organizing skill, administrative ability and enterprising initiative of the manage- ment. Thus, management provides leadership to a business enterprise. Without able managers and effective managerial leadership the re- sources of production remain merely resources and never become production. Under competi- tive economy and ever-changing environment the quality and performance of managers deter- mine both the survival as well as success of any business enterprise. Management occupies such an important place in the mode world that the welfare of the people and the destiny of the country are very much influenced by it