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Staffing is a process through which competent employees are recruited; selected, properly trained, effectively developed, suitably rewarded and their combined efforts are harmoniously…

The term scientific management is the combination of two words i.e. scientific and management.

In order to achieve the desired result through introduction of scientific management. Fallowing techniques are:

Fayol developed theory of management. According to him managerial excellence is a technically ability and can be acquired.

A principle is a fundamental truth and is generally stated in the form of cause and effect inter-relationship.

In the words of Theo Haimann, “Management is the art and process of getting things done through and with the people.”

Organisation is the foundation upon which the whole structure of management is built. Organisation is related with developing a frame work where the total work is divided into manageable components in order to facilitate the achievement of objectives or goals.

In simple words, planning is deciding in advance what is to be done, when where, how and by whom it is to be done. Planning bridges the gap from where we are to where we want to go.

Management is a process which refers to various functions which a manager performs in an organization.

Levels of Management: Management has the following three levels. They are as given under:

Management is a social science. Hence, management is subject to certain limitation like other social sciences. The main important limitations are as follows:

Every human activity has its objective. Unless, the objective is well defined, the question of making necessary efforts to achieve it does not arise.

The concept of management is universal and very old. That is why different views have been expressed about its nature by different writers from time to time.

The concept of management is not fixed. It has changing according to time and circumstances. The concept of management has been used in integration and authority etc.

Management is a continuous, lively and fast developing science. Management is needed to convert the disorganized resources of men, machines, materials and methods into a useful and effective enterprise.

The Industrial Credit and Investment Corporation of India or ICICI was established on 5th January, 1955 to assist industrial units in the private sector. It was sponsored by the World Bank.