Management is dynamic: Management has framed certain principles, which are flexible in nature and change with the changes in the environment in which an organization exits. Management: Definitions, Concept, Objectives and Scope! Let us understand the nature of financial management with reference of this discipline. export or import of wealth and consumption. Primary nature of financial management focus towards valuation of company. a study of managerial economics is one of the important subjects that should be covered while management studies.

A presentation about Nature and Concept of Management SlideShare utilise les cookies pour améliorer les fonctionnalités et les performances, et … ‘Management Ethics’ is related to social responsiveness of a firm.

1. most importantly individuals business life study. It is concerned with promoting and stimulating competent work force to make their fullest contribution to the concern. Personnel management exist to advice and assist the line managers in personnel matters. The term ‘management’ has been used in different senses. It is a standard of behaviour that guides individual managers in their works”. Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating and controlling, at other times it is used to describe it as a function of managing people. 1.2.2 The Nature of Planning The essential nature of planning can be highlighted by the four major

Nature of financial management could be spotlighted with reference to the following aspects of this discipline: (i) Financial management is a specialized branch of general management, in the present-day-times. Therefore, personnel department is a staff department of an organization. “It is the set of … Nature of Financial Management: Finance management is a long term decision making process which involves lot of planning, allocation of funds, discipline and much more. It is “the discipline dealing with what is good and bad, or right and wrong, or with moral duty and obligation. Relative, Not Absolute Principles: Management principles are relative, not absolute, and they should be applied according to the need of the organization. (Cook, Hunsaker, Coffey, 1999, p. 16). Personnel management is an extension to general management. The Nature of Planning a)Contribution to Purpose and Objectives, b)Primacy of Planning, courses of actions for the organization as a whole and for every department or section within it. First of all, we need to know what ECONOMICS is: in a simple business, the life that how he earns his income and how he spent it. NATURE OF HUMAN RESOURCE MANAGEMENT The emergence of human resource management can be attributed to the writings of the human relationists who attached great significance to the human factor.

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