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Nature and Purpose of Management refer to the fundamental characteristics of management and the reasons it is essential in organizations and society. Management is a continuous process of planning, organizing, staffing, directing, and controlling resources to achieve predetermined goals efficiently and effectively. It is both a science, because it relies on established principles and systematic methods, and an art, because it requires human skills, creativity, and judgment in decision-making. The purpose of management is to coordinate human and material resources, improve productivity, ensure the achievement of organizational objectives, maintain a productive work environment, and adapt to changing conditions. By guiding individuals and teams toward common goals, management plays a vital role in the success, growth, and sustainability of organizations in both the public and private sectors.
This lecture is part of BUA 201 Principles of Business Administration I in the Business Administration department. The course has 18 recorded lectures across 6 series, all free to watch. Read or download the BUA 201 lecture note to study alongside the video.