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Q.Define management. Discuss its main objectives.

(OR)
Explain various functions of management.
Jammu Kashmir JkboseJKBOSE Class 12 Annual Regular Examination (Commerce) 2025Subjective· 6mImportance★★★★★
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Management is the process of achieving organisational goals efficiently and effectively through people; it pursues organisational, social and personal objectives — and carries out this process through the five functions of Planning, Organising, Staffing, Directing and Controlling.

Part 1: Define management. Discuss its main objectives.

Definition. Management can be defined as the process of getting things done, with the aim of achieving organisational goals effectively and efficiently, by coordinating the efforts of people. Effectiveness means completing the task correctly and on time (goal accomplishment); efficiency means doing the task at the lowest possible cost, with minimal wastage of resources. Good management achieves both together.

Main objectives of management:

ObjectiveMeaning
Organisational objectivesSurvival of the business, earning adequate profit to cover costs and risks, and growth of the organisation (sales, employees, capacity) over time
Social objectivesBenefiting society — e.g. using environment-friendly production methods, giving employment opportunities, providing basic amenities like schools/crèches to employees
Personal objectivesCatering to the diverse needs of employees — financial needs (competitive salary), social needs (peer recognition), higher-level needs (personal growth and development) — so employees stay motivated

A good manager balances all three sets of objectives simultaneously, rather than pursuing profit alone.

Part 2 (OR): Explain various functions of management.

Management performs five interrelated functions, often called the management process:

  • Planning — deciding in advance what to do, how to do it, when to do it, and who will do it; it bridges the gap between where we are and where we want to be. …

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