Madhya Pradesh Board Class 12 Business Studies — Chapter Summary

Management is the process of getting work done through people in an organised way so that goals are achieved effectively and efficiently. It exists in all kinds of organisations, including business and non-business organisations. Management gives direction, uses resources properly, and coordinates t

Financial management deals with the careful planning, procurement, use, and control of finance so that funds are available when needed and used in the best possible way. It is linked with the three main financial decisions of a business: investment decision, financing decision, and dividend decision

Principles of management are broad and general guidelines for decision-making and behaviour in organisations. They are not rigid like pure science principles because they deal with human behaviour, which changes with situation and time. The chapter traces the evolution of management thought from ear