Management is the coordination of all resources through the process of planning, organizing, directing, staffing and controlling in order to attain stated objectives effectively and efficiently. Effectively means doing the right task, completing activities and achieving goals and efficiently means to attain objectives with least amount of resources at a minimum cost.
According to Modern concept “Management is a process of getting things done with the aim of achieving goals effectively and efficiently.”
According to Marry Parker Follett, “Management is an art of getting things done through others and with formally organised groups."
Objectives of management are divided into four main categories which are stated below:
(1) Organisational Objectives: Organisational objectives refer to high priority or core objectives which are essential for the existence of an organisation. These objectives aim at the prosperity and growth of the organisation.
(2) Social Objectives: Management is not only a representative of the owners and employees but is also responsible towards various groups outside the organisation such as consumer, government, creditors etc.
(3) Personal or individual objectives: These objectives are related to the employees of the organisation. Employees are the most important resources of every company and satisfied and motivated employees contribute maximum for the organisations.
(4) General objectives: Besides the above mentioned main objectives, management tries to achieve the following several objectives:
a. Maximum prosperity for employer and employees.
b. Human betterment and social justice.
c. Economic development and growth.
