Question

what is meant by 'management'? State any three objective of management.

Answer 1

Management is a process wherein various activities and functions are performed to achieve the various goals and objectives of an organization in an effective and efficient manner.
The following are the objectives of management:
(i) Organisational Objectives:
(a) Survival- It exists for a long time in the competitive market.
(b) Profit- It provides a vital incentive for the continued successful operations.
(c) Growth- The success of an organization is measured by growth and expansion of activities.
(ii) Social Objectives: It involves the creation of benefit for society.
(iii) Personal Objectives: These are the objectives of employees like good salary, promotion, social recognition, healthy working conditions.