NTA CUET Business Studies With Fully Solved 2023 Papers by Pearson

CHAPTER 1

Nature and Significance of Management

CHAPTER AT A GLANCE

Introduction

Management is the process of planning, organizing, directing, and controlling resources, including human effort and financial assets, to achieve organizational goals efficiently and effectively. It involves coordinating the efforts of people to ensure the smooth operation of an enterprise. Managers are responsible for decision-making, problem-solving, and resource allocation to optimize productivity. Effective management requires leadership skills, communication, and a strategic mindset to adapt to changing environments. In essence, management is the art and science of guiding an organization towards success by aligning individual and collective efforts with the ...