Question: What is meant by ‘Management’? State any three objectives of management. [CBSE 2015]
Answer: Meaning of Management: It refers to the process of conducting a set of functions (Planning, Organising, Staffing, Directing and Controlling) to get the work done in an efficient and effective manner.
Objectives of Management:
1). Organisational objectives: It refers to the utilisation of human and physical resources available in the organisation, considering the interest of all stakeholders.
2). Social Objectives: It refers to the consideration of the interest of the society during managerial activities.
3). Personal or Individual Objectives: It refers to the objective to be determined with respect to the employees of the organisation.