RANA Commerce

                          Nirmal Singh Rana (PGT Commerce)  Unit: 1   Nature and Significance of Management Concept of Management Successful organisations do not achieve their goals by chance but by following a deliberate process called ‘management’. According to Koontz and O’Donnell , “Management is creating an internal environment of an enterprise where individuals working together in groups perform efficiently and effectively towards achievement of group goals.”         Management is defined as a process of getting things done with the aim of achieving goals effectively and efficiently. The concepts of Management includes following three terms: Process in the definition means the primary functions or activities that management performs to get things done. These functions are planning, organising, staffing, directing and controlling. ‘Effectiveness’ in management is conc...