commerce unit 1 PPT- PROCESS OF manageme

Management involves getting work done through others in an organized way to achieve goals. It is both an art and a science. The key concepts of management include its body of knowledge, tools used, and status as a separate discipline requiring specialization. Management differs from administration in that management occurs at middle and lower levels in profit-driven organizations, implementing policies, while administration is at the top level in service-oriented non-profits, formulating policies. The twin purposes of management are maximizing productivity and profits while also satisfying human needs and wants.