Definition of Management
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.
Management is a pipeline, the inputs are fed at the end and they are preceded through management functions and ultimately we get the end results or inputs in the form of goods, services, productivity, information and satisfaction.
Management is a pipeline, the inputs are fed at the end and they are preceded through management functions and ultimately we get the end results or inputs in the form of goods, services, productivity, information and satisfaction.
Management
is a comprehensive word which is used in different sciences in the modern
business and industrial world. In the narrow sense, it signifies the technique
of taking work from others. In this way a person who can take work from others
is called manager. In the wide sense, the management is an art, as well as
science, which is concerned with the different human efforts so as achieve the
desired objective.
Important characteristics of management:
Management as a continuous process - Management
can be considered as a process because it consists of planning, organizing,
activating and controlling the resources (personnel and capital) of an
organization. So they are used to the best advantage in achieving the
objectives of the organization. None of the managerial functions would produce
the ultimate results in the absence of all other basic functions. Hence we can
say that management is a continuous process.
Management as an Applied Science - Management
is a science so far as it possesses a systematized body of knowledge and uses scientific
methods of research. Hence, management is definitely a social science like
economics or psychology and has the same institutions which these and other
social sciences have.
Universal Application - Management
is a universal activity, applied to any form of activity, economic or
otherwise. Anything minus management is nothing or zero. Here by anything we
mean all types of activities-business and non-business. If we deduct management
out of these activities, the result will be failure or zero. It means
management is necessary to conduct any type of activities. Hence, it is
pervasive or universal.
Goal Oriented - Management
has the task of attaining certain objectives. The success or failure of the
management depends on how far it is able to attain the desired goals. It is
judged by the extent to which it achieves its targets.
Guidance - The main
task of the management is guidance in the utilization of material and human
resources in the best possible way. Through optimum utilization of resources,
it has to ensure that the objectives are attained. The essential element of
management is that it gets the work done by coordinating the performance of
those who actually perform diverse and specific jobs.
An activating factor - Management
is the factor which activates other factors of production. A manager's skill
lies in motivating his workers through guidance, training, incentives, rewards,
status, security, control, etc. So a mangers' ability lies in the fact that he
is able to motivate others to apply their skill to the best advantage of the
enterprise in the accomplishment of its objectives.
Management is a human activity - Management
functions are discharged only by individuals. No corporate body or an
artificial being can perform the work of a management. Although it is an
activity which may be performed by an individual it cannot be seen. It can only
be felt.
Management signifies authority - Since
the essence of management is to direct, guide and control, it has to have
authority. Authority is the power to compel others to work and behave in a
particular manner. Management cannot discharge its function without authority.
It is the foundation of management. Since management has authority it stands at
a higher pedestal.
Leadership - The
management has to lead a team of workers. It must be capable of inspiring,
motivating and winning their confidence.
Management is Multidimensional:
The
management is a three-dimensional activity:
(i)
Management of Work:
Every
organization is established for doing some work, like a school provides
education, a hospital treats patients, a factory produces, etc. Of these, no
work can be completed satisfactorily without management,
(ii)
Management of People:
Each organization
is established for doing some work and the same is conducted by people. Hence,
it is necessary to manage the people so that the work can be accomplished in a
better way.
(iii)
Management of Operations:
To
achieve the goals of an organization many operations or activities need to be
conducted, such as, production, sale, purchase, finance, accounting, R&D,
etc. Again, management is needed to make sure that operations are accomplished
efficiently and effectively.
