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Concept, Nature and Importance OF Management: by Rekha Prasad

Management involves coordinating group efforts to accomplish goals. It is a universal process that occurs wherever human activity is organized, such as families, schools, businesses, and governments. Management can be viewed as a noun referring to people in supervisory roles, a process comprising activities like planning and controlling, or a discipline studied academically. While management principles can be systematically studied and applied, it also involves an art in dealing with people and adapting to different situations. As such, management has characteristics of both a science and an art.

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Rekha Prasad
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58 views24 pages

Concept, Nature and Importance OF Management: by Rekha Prasad

Management involves coordinating group efforts to accomplish goals. It is a universal process that occurs wherever human activity is organized, such as families, schools, businesses, and governments. Management can be viewed as a noun referring to people in supervisory roles, a process comprising activities like planning and controlling, or a discipline studied academically. While management principles can be systematically studied and applied, it also involves an art in dealing with people and adapting to different situations. As such, management has characteristics of both a science and an art.

Uploaded by

Rekha Prasad
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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CONCEPT,NATURE AND IMPORTANCE I OF MANAGEMENT

By Rekha Prasad

Every individual works in the organized group to achieve what he cant achieve individually Management is an essential part of any group activity. Group can be: Family Play group Work group School Business firm A government

Management is universal process Wherever there is human activity, there is management

Management
Management is looked at from the following angles
As a Noun As a Process As a Discipline

Management as a Noun
Management refers to all those persons who are concerned with getting the things done through others.
Ex.---persons of supervisory responsibilities, MD, GM, Board of Directors HUMAN RELATIONSHIP CONCEPT

Management as a Process
Management refers to all that manager does. Ex.---Planning, Organizing , Staffing, Directing, Controlling

FUNCTIONAL CONCEPT

Management as a Discipline
Management refers to a body of knowledge, a practice and a discipline. Management refers to the principles and practices of management as a subject of study

Definition of Management
Functional Concept
To manage is to forecast and plan, to organize, to command, to coordinate and to control ----Henry Fayol

Human Relation Concept


Management is the art of directing and inspiring people ---- Mooney & Railey Management is the art of getting things done through & with people in formally organized groups. Its an art of creating an environment in which people can perform and individuals could co-operate towards attaining of group goals ---- Herold Koontz

Nature/Characteristics of Management
Goal- oriented(economic & social objective) Continuous process Coordinative Force Intangible Force

Part of Group Effort


Accomplishes Results through the Cooperation of Others Balances Effectiveness & Effeciency Dynamic Discipline Science as well as an Art Universal in character Needed at all levels of Organization

Purpose/Objectives of Management
Optimum utilization of resources Minimizing the element of risk Improving performance Planning for the future. Growth and Development of business Better quality goods Ensuring regular supply of goods

Discipline and Morale


Mobilizing the best talent Research and Development

Importance of Management
1. 2. 3. 4. 5. 6. Accomplishment of goals Optimum utilization of resources Sound Organisation Providing Vision & Foresight Harmony in work Helping the Employees in Achieving Personal Objectives 7. Development of Society & Nation 8. Increased profit

Scope of Management
Financial Management Personnel Management Branches of Management Production management Purchase Management Material Management Office Management

Planning Organizing Staffing Directing Controlling Reporting Budgeting

A Science or an Art ?
The debate whether management is a science or an art is complicated. Management depicts characteristics of both.

Management as a Science
Science is a systematized body of knowledge pertaining to a particular field of enquiry. i. Systematized body of knowledge ii. Scientific Observation iii.Experimentation iv.Verifiable Principles v.Universal Application

Mgt as Science
It is systematized body of knowledge acquired by mankind through observation and experimentation and which is

capable of verification
Systematized body of knowledge that uses scientific methods of observation Principles are evolved on the basis of continued observation Principles are exact & universal application without any limitation Cause & effect relationship Validity can be verified and they prove a reliable basis of predicting future events

LIMITATION OF MANAGEMENT AS A SCIENCE OR MANAGEMENT AS AN INEXACT OR SOCIAL SCIENCE


Management principles are not fundamental truths & not supported by research (not a exact science). It is difficult to establish cause & effect relationship Application of management principles depend upon situations & factors. Management deals with people at work & it is very difficult to predict their behavior accurately. Principles of management do not have a universal application (soft science or behavioral science) Management lacks certainty of results

Management as an Art
Art signifies the application of Knowledge & personal skills to bring about desired results
i. ii. Body of Knowledge Personalised Application of Knowledge & Skills

iii. Practice
iv. Creativity

Mgt as an Art
It is systematic application of skill or knowledge in effecting accomplishment of results.

It represents the methods or ways of doing specific thing and


indicates how an objective is to be achieved. Every art is practical and is concerned with creation of something. Personal skill Practical knowledge Regular practice creativity

MANAGEMENT IS AN ART AS WELL AS SCIENCE

Management as a Proffesion
i. Specialised field of Knowledge

ii. Restricted entry based on Education & Training iii. Representative or Professional association iv. Ethical Code of Conduct for self regulation. v. Social Responsibility vi. Professional fee.

Mgt & Admin


Three Views 1. Management Administration is part of 2. Administration management Administration comes first, 1. Administration 2. Management management follows it Management and administration Management = Administration are same

Management Vs. Administration


Basis 1. Definition Management Means getting the work done through and with others by leading and motivating them Management refers to execution of decisions. It is a doing function. It is concerned with implementation of policies laid down by administration. It is actively concerned with direction of human efforts at the operative level It has operational Administration Is concerned with the formulation of objectives, plans and policies of the organization Administration relates to decision making. It is a thinking function. It is concerned with determination of major objectives and policies It is not directly concerned with direction of operative personnel. It has authority to take

2.Nature of Functions

Stage of Performance

Leading of Human Efforts

Type of Authority

Continued
6. Level in the organization 7. Decision making It is relevant at lower levels of management Management decides who shall implement the administrative decisions. The term management is widely used in business organization in the private sector. It refers to higher levels of management Administration determines what is to be done and when it is to be done The term administration is associated with nonbusiness organizations such as govt. departments, public enterprises, military organizations, sociocultural organizations Minister, Secretary. Director, Registrar,

8.Usage

9. Designation in organizations

General Manager. Managing Director,

Continued..
10.Influencing factors Managerial decision are influenced mainly by organizational mission, objectives, policies values and beliefs of managers. Administrative decisions are influenced by economic environment, Social forces, govt. policies, etc.

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