Chapter 1 | Nature and significance of management | Business Studies | Class 12 | Part 1
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John
English
College Students
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Summary
Management is a goal-oriented process that efficiently utilizes resources to achieve organizational objectives. It involves five key functions: planning, organizing, staffing, directing, and controlling. Management is pervasive, multidimensional, continuous, and dynamic, aiming to fulfill economic, social, and personal objectives while adapting to changes in the environment.