 Welcome learners. I am Smetishika Soutri from Krishna Kanto Hantikoi State Open University. Today I will be discussing with you the first unit of BBA First Semester Course that is Principle of Management and Organizational Behavior. The unit is Introduction to Management. This video lecture is divided into three parts. So in first part we will discuss the basic concepts of management then in second part we will discuss the levels of management and in third part we will discuss whether management is considered as science or us and the administration of management. In this video class we will discuss about the following concepts. First is introduction about the management then meaning and basic concepts of management, nature and characteristics of management. So let's start introduction. In the present day industrial world management has become universal. With the increase in the complexities of management of business concerns the importance of management has increased enormously. The principles of management are being applied not only in managing business concerns but also to manage various other institutions like hospitals, educational institutions, social institutions and other government institutions. Management occupies such an important place in the modern world that the welfare of the people and the destiny of the country are very much influenced by management functions. Let's discuss the meaning and basic concepts of management. When we define the meaning of management different researcher has defined it in different ways. Let's start it. George Artieri has defined management as management is a distinct process consisting of planning, organizing, actuating and controlling performance to determine and accomplish the objectives by the use of people and resources. As George has defined management as management consists of getting things done through others. Manager is one who accomplishes the objectives by directing the efforts of others. Peter Drucker has defined management as the first definition of management is that it is an economic organ of industrial society. It means taking action to make desired results to pass. From these definitions it is clear that management means things done through others by directing their efforts in an integrated and coordinated manner in order to attain business objectives. It is a process consisting of functions such as planning, organizing, actuating and controlling business operations in such a manner as to attain the predetermined goals. So in general term we can say that management is getting things done through others in a systematic way so that we can ultimately reach our desired goals. So from this diagram you can see management includes so many things. That means we need to get the outcomes, we need to decide things, we need to acquire knowledge, we need to achieve the goals. So all these are part of the management. Now let's discuss nature and characteristics of management. So first thing is management is an activity. Why we say management as an activity? Because management is a process of organized activity which is concerned with the efficient use of resources of production. Source may include your money, material and people in the organization. Next we consider management is getting things done. Definitely because in management we have already discussed that throughout the process of management we get the things done in the organization. It involves decision making. Management involves decision making relating to various aspects of management. It is said that management is the decision making process and the decisions are involved in all the functions of management because in every step we need to take decisions whether in planning states, whether in manufacturing states or whether in implementation of any planning. We require the decision making. Then management is a universal activity. Managers irrespective of the enterprise in which they are working and their place in the organization structure make use of management principles. It means that the techniques and tools of management are universally applicable. Maybe slight variation is there but every principle may be considered as universal. Then it is an integrated process. It integrates man, machine and materials for carrying out the operations of an enterprise and for achieving the stated objectives. Then next we consider management as both science and arts because it requires some concepts and it is also the application of the concept. So about this management as science and arts I will be discussing in later part of this unit. Then management considered as an interdisciplinary approach. Why we consider management as an interdisciplinary approach? Because it takes the help of both social science, psychology, sociology, anthropology, engineering, everything. That's why we consider it as interdisciplinary approach. And then lastly I say that it is dynamic but steady because management adopts itself social changes and also introduces new ways of doing things. That's why every day the concepts of management are changing. We will discuss the following concepts in my video lectures. The scope of management, levels of management, management as science and arts and administration and management. So let's discuss the scope of management. Management includes these following aspects. As we have already mentioned that the functions of management are planning, organizing, staffing, directing and controlling. So what is planning to perform any activities we require some kind of planning. Then comes the organizing. That means how we will perform the plan we need to prepare some blueprint. Like how many people will be there in one department who will perform what task designing that part is considered as organizing. Then comes our staffing. That means how many people are required. So the recruitment and selection, transfer, promotion all these things will come under our staffing. Then comes the directing. That means who will lead us in which direction. So someone will be the subordinate, some will be the superior. So the managers they will guide the subordinates. So here comes the things directing. Then to check the performance of the employees. Whether we are going as per our plan or whether there is any deviation. To check these things we require controlling. Controlling tries to find a gap between the actual performance and the desired goal. And based on that we will again replan our activities. So let's discuss the scope of management. First is subject matter of management. It consists of various management functions such as planning, organizing, staffing, directing and controlling which I have discussed. The next the functional areas of management. It consists of many areas depending on the size of the organization the functional areas of management varies. So let's discuss the core functional areas of management. First is financial management. It includes post control, budgetary control, financial planning, management accounting, standard costing etc. So it includes all the aspects related to finance. Then comes our personal management. It includes aspects such as recruitment, training, transfer, promotion, retirement, industrial relations, social security etc. So these things includes all the activities related to human resource management. Whether we need any employees, whether the number of employees were more and then what kind of training they required all these things comes under personal management. Then comes purchasing management. So it consists of purchasing of raw material etc. Then maintaining of records, material control, issuing materials to deliver etc. So here in any production unit we require some purchasing management. Then comes production management. It deals with aspects such as production planning, quality control and inspection, production control technique etc. So as we know in any production unit the production takes place. So here the main thing is to check the quality, whether the product's quality were good or not. If it's not good then ultimately customer will reject the product. So product quality inspection then production control technique, whether the techniques used in production unit were proper or not checking those things were very important aspects of production management. Then comes our marketing management. It includes marketing of goods and services, price determination, channel determination, market research, sales promotion, advertisement, publicity etc. So what are the activities of marketing management? Basically they try to sell the goods or services. So for that what they required? They required the proper price of a product. It depends on the competitor's price also and whether this product is new product. So then also we need to consider about the advertising cost, then different channel like a cost like whether it will go through wholesalers, distributors, retailers, then market research cost, sales promotion cost. All these things we need to consider while doing this marketing management. Then comes our office management. It is concerned with office layout, staffing, equipment of office etc. So in some organization they give more importance to the layout of the office. Suppose for example in hotel industry. So the physical visibility of the hotel's atmosphere is most important thing for any hotel industry. So depending on the type of the organization the requirements for office management varies. Then maintenance management. It relates to the proper care and maintenance of the building, plant and machinery etc. Then transport management. It includes packing, warehousing, transportation of goods and services by any mode of transportation. Depending on the type of the product we can use under rail, road or air transportation. Next is our management as an interdisciplinary approach. For the correct and effective application of principles of management a study of various other subjects such as economic, sociology, mathematics, psychology, behavioral science statistics are necessary. That's why we consider management as interdisciplinary approach. So all these whatever I have discussed so far where the scope of management and are applicable to any kind of organization. So let's check your progress whether you have understood this video lecture or not. So my first question is choose the correct answer. Whether management is concerned with which of the following? Formation of goals, accomplishment of goals, performance appraisal or all of the above. Then my next question is management is a group activity or a decision making process and integrating function or all of the above. Then my third question is functions of management is keeping records or planning, controlling or whether both planning and controlling. So if you have understand the video lecture I think this will be very easy for you to find out the correct answer. Thank you. See you in my next video lecture.