Management | Objectives | Levels |Class-12|CBSE

Objectives of Management:

Management has to achieve its objectives efficiently and effectively.

1)      Organisational/ Economic Activities: The main objective of any organisation should be to utilise human and material resources. It includes survival, profit, and growth.

a)      Survival: Management of an organisation must ensures survival of organisation by earning enough revenues to cover cost.

b)      Profit: Management must ensure that organisation makes profit. It is essential to cover costs and risks of business.

c)       Growth: It is important for every business to grow in long run in terms of employees, branches, etc.

2)    Social Objective: It involves creation of benefits or economic value for society. It includes- using environmental friendly methods of production, providing basic amenities, giving employment opportunities  to disadvantaged sections of society.

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What is Management?

3)      Personal Objectives: It is covered with satisfying diverse needs of employees such as financial needs(salary and perks), social needs(peer recognition) and higher level needs(personal growth and development).

Importance Of Management:

a)      Achieving group goals- Management aims at achieving organisational goals by giving a common direction to individual efforts.

b)      Increases efficiency- It helps in increasing efficiency by reducing costs and increasing productivity through better planning, organising, directing and controlling activities of organisation.

c)       Achieving personal objectives- Through motivation, management helps individuals to develop team spirits, cooperation and commitment to group success.

d)      Helps in development of society- By providing good quality products, creating employment opportunities, adopting new technology.

e)      Creates dynamic organisation- In order to be successful, an organisation must change itself and its goal according to needs of environment. Management helps people adapt to these changes so that organisation is able to maintain its competitive spirit.

      Levels Of management-

1)      Top Management- It consist of senior most executives of organisation. E.g.- President, Vice-President, Chairman, CMO , CEO.

 Function:

a)      Formulate overall organisational goals and strategies.

b)      Coordinate activities of different departments.

c)       Responsible for survival of organisation.

d)      Analyse business environment.

e)      Responsible for all activities of business.

Thus, job of Top Management is complex, stressful and demand more working hours to the organisation.

 

2)      Middle Management- It consist of departmental heads. E.g.: HR Manager, Finance Manager, etc. They are subordinate to top managers. They act as a link between top management and supervisory management.

 Functions:

The main task of Middle Management is to carry out plans formulates by top management.

a)      Interpret policies framed by top management.

b)      Assign necessary duties.

c)       Motivate them for higher productivity.

d)      Ensure that their department has necessary personnel.

e)      Responsible for all activities of first line managers.

 

3)      Operational/ Supervisory Management: It refers to lower level in hierarchy of organisation. E.g.: Supervisors, etc.

 Function:

a)      It directly oversee efforts of workforce.

b)      Their authority and responsibility is limited according to plan drawn by top management.

c)       They interact with actual workforce and pass instructions of middle management to workers.

d)      They represent worker’s grievances before the management.

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Coordination And It's Features

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