Dear CAIIB Aspirants,

These notes are a part of 2024 CAIIB Video library course of ADVANCED BUSINESS & FINANCIAL MANAGEMENT  (ABFM)  by Motivational Banker. These notes are intended to help you prepare better for your CAIIB exam.

These notes are a sample version of the full PDFs prepared by team Motivational Banker.

Module A :  UNIT 1- Basics of Management

Definitions of Management

“Management is an art of Getting things done through People”

Fayols Definition of Management

According to Henri Fayol “management is a process of forecast followed by planning, organization, command, coordination and control of activities of others.

In simpler terms, management refers to proper organization and delegation of work along with ensuring its completion.

Henri Fayol, widely acknowledged as the founder of modern management methods, was an early management writer who was instrumental in contributing immensely to ‘formal organisation theory’.

Henri Fayols Five Functions of Management

1. Planning 2. Organizing 3. Command   4. Coordination     5. Control.

Taylor’s Definition of Management

According to Taylor, “Scientific Management is an art of knowing exactly what you want your men to do and seeing that they do it in the best and cheapest way”.

In Taylors view, if a work is analyzed scientifically it will be possible to find one best way to do it.

Scientific management, also known as “Taylorism’, is a management theory which was used for analysing and synthesizing workflows with the main objective of improvement of economic efficiency and labour productivity.