What is Management?
Management is an art of getting things done through others.
Management means to plan, organize, direct & control the resources of the organization for achieving common goals/objectives. It is related to resources like money, machinery, material, methods, manufacturing & marketing.
Definitions:
1) According to Taylor:- “Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way.”
2) According to Lawrence:- “Management is the accomplishment of results through the efforts of other people.”
3) According to Henry Fayol:- “To manage is to forecast and to plan, to organize, to co-ordinate and to control.”
Characteristics or Features of Management-
(1) Management is a goal-oriented process:
The aim of management is always to achieve the organisation's goals. Management unites the efforts of different individual employees for the achievement of organisational goals.
(2) Management is pervasive:
It is required in all types of organisations whether they are big or small, for-profit or not for profit organisations. Management is not just meant for profit-seeking business organisations but also for charitable organisations like schools, hospitals, etc.
(3) Management is multidimensional: Management does not have a single dimension. In other words, it is not a single activity. It includes three major activities:
(a) Management of work
(b) Management of people
(c) Management of operations
(a) Management of work: Every business is set up to do some task/work. The type of work to be done depends on the nature of the business. For example, work to be done in a manufacturing company is to produce or manufacture something.
Management ensures that the required work is done in an effective and efficient manner. Effectiveness means completing the work in time and efficiency means completing the work with minimum wastage of raw materials or resources
(b) Management of people: This refers to the management of employees of the organisation. Employees are the biggest assets of any organisation. Management of people involves getting the best out of them i.e, making best use of their abilities.
(c) Management of operations: This refers to the management of all activities of the organisation such as purchase, production, sales, etc. Management of operations involves deciding what is to be done, how it has to be done and who will do it.
(4) Management is a continuous process: Management is not a one-time activity. It is an ongoing and never-ending process. All the functions of Management like planning, organising, etc have to be done continuously. For example, Planning. Planning has to be done on a continuous basis like every month, every quarter, every year, etc.
(5) Management is a group activity: Management involves the management of activities done by a team or a group. Hence, management is a group activity. Management requires a group effort and not an individual effort.
(6) Management is Intangible:
You can't see or touch it. You can just feel it. For example, looking at the working of an organisation you can feel whether it is managed properly or not. But you cannot physically see the management function. You cannot touch it either.
(7) Management is Dynamic:
Management is a dynamic activity/ process as it involves making changes in the goals, objectives and activities of the organization from time to time depending upon changes happening in the business environment. The external environment keeps on changing continuously and hence objectives & functioning of the organisation have to be changed from time to time depending upon changes happening in external or business environment.
Also refer - Nature and Significance of Principles of Management
Management is an art of getting things done through others.
Management means to plan, organize, direct & control the resources of the organization for achieving common goals/objectives. It is related to resources like money, machinery, material, methods, manufacturing & marketing.
Definitions:
1) According to Taylor:- “Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way.”
2) According to Lawrence:- “Management is the accomplishment of results through the efforts of other people.”
3) According to Henry Fayol:- “To manage is to forecast and to plan, to organize, to co-ordinate and to control.”
Characteristics or Features of Management-
(1) Management is a goal-oriented process:
The aim of management is always to achieve the organisation's goals. Management unites the efforts of different individual employees for the achievement of organisational goals.
(2) Management is pervasive:
It is required in all types of organisations whether they are big or small, for-profit or not for profit organisations. Management is not just meant for profit-seeking business organisations but also for charitable organisations like schools, hospitals, etc.
(3) Management is multidimensional: Management does not have a single dimension. In other words, it is not a single activity. It includes three major activities:
(a) Management of work
(b) Management of people
(c) Management of operations
(a) Management of work: Every business is set up to do some task/work. The type of work to be done depends on the nature of the business. For example, work to be done in a manufacturing company is to produce or manufacture something.
Management ensures that the required work is done in an effective and efficient manner. Effectiveness means completing the work in time and efficiency means completing the work with minimum wastage of raw materials or resources
(b) Management of people: This refers to the management of employees of the organisation. Employees are the biggest assets of any organisation. Management of people involves getting the best out of them i.e, making best use of their abilities.
(c) Management of operations: This refers to the management of all activities of the organisation such as purchase, production, sales, etc. Management of operations involves deciding what is to be done, how it has to be done and who will do it.
(4) Management is a continuous process: Management is not a one-time activity. It is an ongoing and never-ending process. All the functions of Management like planning, organising, etc have to be done continuously. For example, Planning. Planning has to be done on a continuous basis like every month, every quarter, every year, etc.
(5) Management is a group activity: Management involves the management of activities done by a team or a group. Hence, management is a group activity. Management requires a group effort and not an individual effort.
(6) Management is Intangible:
You can't see or touch it. You can just feel it. For example, looking at the working of an organisation you can feel whether it is managed properly or not. But you cannot physically see the management function. You cannot touch it either.
(7) Management is Dynamic:
Management is a dynamic activity/ process as it involves making changes in the goals, objectives and activities of the organization from time to time depending upon changes happening in the business environment. The external environment keeps on changing continuously and hence objectives & functioning of the organisation have to be changed from time to time depending upon changes happening in external or business environment.
Also refer - Nature and Significance of Principles of Management
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