MBA and B.tech class notes.: Objectives of Management- in principles of management..- MBA first year class notes.

Saturday, 15 December 2012

Objectives of Management- in principles of management..- MBA first year class notes.

MBA and B.tech class notes

Principles of Management

Objectives of management

Managing an organization effectively requires the formulation of clear objectives. The objective is well defined, and the objective points (question) of making necessary efforts to achieve it. Objects and aims direct a man to proceed in a certain way for achieving organizational aims.

Objective serves as guidelines or landmarks or road lines for action and efforts to achieve managerial goal. Well defined objective steers an organization to success.

According to George R. Terry, "A managerial objective is the goal which prescribes definite scope and suggests the efforts of a manager."

In the words of Peter F. Drucker, "Objectives in the key areas are the 'instrument panel' necessary to pilot the business enterprise. Without them the management flies by the 'seat of the pants' without landmarks, without maps and without having flow route before."

According to Heinz Weihrich and Harold Koontz defined objectives of management as, “A systematic manner and that is consciously directed toward that effective and efficient achievement of organizational and individual objectives”.

Objective provides a direction for the organization goal and quality of work to be accomplished within a given period of time.

Objectives are the values which are to be achieved by the organization. These objectives set by the higher management; and every level of management, a supervisor of a team sets the objectives and also decides the process to achieve them. For achieving the objectives, it is essential that the managerial objectives are clear and definite.

The main objectives of management:-

To increasing organizational effectiveness.
To achieve optimum utilization of various resources.
To have co-ordination between various department in the organization.
To have co-ordination between various agencies, and company.
To control the material quality.
To reduces the execution time for various activities of the organization.
To control the quality of workmanship.
To manage and control economy execution.

Notes: this post shared here are base on my knowledge and study in case you find anything wrong and missing points than bring it to my notice.

MBA and B.tech class notes.