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Management Notes

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10 views

Management Notes

.

Uploaded by

nishadarshad288
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MEANING OF MANAGEMENT

Management refers to the dynamic process of getting things done with the aim of achieving
goals of an organization effectively and efficiently. It is the act of creating and maintaining a
business environment, wherein, the members of the organization can work together to achieve
the business objectives effectively and efficiently.

The process in management refers to all the activities and functions that management performs
in getting things done. The functions include planning, organizing, staffing, directing and
controlling. Effectiveness in management is concerned with doing the right task, completing
activities and achieving goals. It is concerned with end results. Efficiency means doing the task
correctly at minimum cost. Efficiency is achieved when the more benefit or output is obtained by
using lesser amount of time, money and effort.

CHARACTERISTICS OF MANAGEMENT

The following are the important features or characteristics of the process of management:

1. Management is a Goal-oriented Process:


Management is meant for achieving organizational goals. Organizational goals vary between
different organizations. The goal of a trading concern is to earn maximum profit, whereas, that of
a service organization is to provide quality service. Management uses the efforts of all
individuals in the organization towards achieving these goals.

2. Management is all pervasive:


Management is a universal phenomenon. The activities involved in managing an enterprise are
common to all organizations, whether economic , social or political. Therefore, the concept of
management used in any business organization will be the same.

3. Management is multi dimensional: Management is a complex activity that has three main
dimensions. These are:

a. Management of work: Every organization exists to perform some Work. For example,
school provides education, whereas, factory produces goods. Management aims to
ensure that this work is performed effectively and efficiently.
b. Management of people: Human resource or workforce is the most important asset of any
organization. Management is ‘getting work done through people'. Managing people has
two dimensions of (i) dealing employees as individuals with diverse needs; and (ii)
dealing individuals as a group of people. The main task of management is to make
people work towards achieving the goals of the organization.
c. Management of operations: Inorder to survive, any business organization has to deal
with some basic products or services. This requires a production process in which
resource are used for getting the desired output. Management looks after this production
process. Hence, management of operations is linked to management of work and
people.
4. Management is a continuous process:
Management is a continuous or never ending function. It is concerned with constantly
identifying the problems and solving them by taking appropriate actions. Thus, managerial
functions such as planning, organizing, staffing, directing and controlling are performed by all
managers simultaneously on a continuous basis.

5. Management is a group activity:


An organization consists of diverse individuals with different needs. Every member joins the
organization for different purposes. But they have to work for achieving the common
organizational goals. This requires team work. Management helps people to realize their
individual as well as organizational goals through group efforts.

6. Management is a dynamic function: Management is a dynamic function and has to adapt


itself to the changing environment. An organization functions in social, economic, political and
legal environment. In order to survive in the market, an organization has to change its goals
according to the needs of the environment.

7. Management is an intangible force: Management cannot be seen, but its presence is felt in
the way the organization functions. The effect of good management is noticeable in an
organization where targets are met to plans. In such organizations employees are happy and
satisfied and there is orderliness instead of chaos.

8. Management is a composite process:


Management consists of a series of functions which must be performed in a proper sequence.
These functions are interdependent on each other.

DEFINITION OF MANAGEMENT
Management is a distinct process consisting of planning, organizing, actuating and controlling,
all of which are performed to determine and accomplish the objectives by the use of human
beings and other resources.
- defined by George R.Terry

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