Ch 1Principles of Management — Class 12 Commerce, concept-first.

Every organisation — a small shop, a school, a multinational company, even a household — exists to achieve certain goals with the resources (people, money, materials, machinery, and time) it has.

Good management is what converts a group of individuals and a pool of resources into a functioning, purposeful organisation. Its importance can be seen from several angles:

A long-standing debate in management thought is whether management is an art, a science, or a profession — and in practice it carries features of all three.

In any organisation of reasonable size, the work of management is distributed across a hierarchy commonly described in three broad levels, each with a different mix of responsibilities.

Coordination is the orderly synchronisation of the efforts of individuals and departments so that unity of action is achieved in pursuit of a common objective.

F. W. Taylor, an American mechanical engineer, is regarded as the father of Scientific Management — the application of scientific methods (observation, measurement, experimentation) to problems of man…

Henri Fayol, a French mining engineer and administrator, is regarded as the father of modern management theory and general administrative management.

Sample papers and previous-year board questions for this subject.