“Management is the art of getting things done through and with people in formally organised groups.”- in his book “The Management Theory Jungle”.
“To manage is to forecast and to plan, to organise, to command, to co-ordinate and to control.”- in his book “Industrial and General Administration”.
“Management is a multi-purpose organ that manages business and manages managers and manages workers and work.”- in his book “The Principles of Management”.
“Management is the art of getting things done through people.”
Management is the effective utilization of human and material resources to achieve the enterprise objective.
Management as an Activity
The activities of management are:
Management as a Process
Management is a continuous process involving interaction of people and integration of human, physical and financial resources.
Management as an Economic Resource
Management is an important factor of production like
Management as a Team
The team comprises of
Management as an Academic Discipline
Getting a management degree has become the order of the day and many reputed educational institutions are coming out with a new discipline in management course every day that rewards an exciting and challenging career for the graduates. Management professionals are the need of the hour for corporate companies to manage the dynamic environment that poses very many challeneges.
Management as a Group
Nature and Characteristics of Management
1. Management is goal-oriented: The ultimate purpose of management is to achieve certain goals over a period of time. The goals must be realistic and achievable that ensure efficient utilization of the resources and satisfy the enterprise objectives.
2. Management is universal: Where ever there is a business activity or nonbusiness activity, management comes into the fore. Be it a small family function or a multi crore business activity, you need people and other resources to make it a success.
3. Management is an Integrative Force: Team work creates synergy and accomplishment of the firm’s objectives by the unified and co-ordinated efforts of all the individuals working for that firm.
Note: 1+1=2, we all know that . Have you heard of 1+1>2 , Yes, synergy is the combined effort of all the people working as a team that leads to enhanced performance levels facilitataing the completion of objectives in a short span of time.
Dhirubhai Ambani was very popular for completing tasks in lightning speed. This was possible only because he had able administrators who shared the same kind of wavelength.
4. Management is a Social Process: You can become an excellent manager without becoming a good leader, but you cannot be an excellent leader without becoming a good manager.
This explains it all. Management is a social process since it involves people and their inter personal relationship. A good manager succeeds in motivating , guiding and extracting work from people working under him.
5. Management is multidisciplinary: Management takes inspiration from disciplines like engineering, sociology, psychology, economics, anthropology etc.
6. Management is a continuous Process: Management is a dynamic and an on-going process. A business has to die on its own.
7. Management is Intangible: The success of management can only be measured by the results being shown by the company like its market share and net profits. But the image of the company gtes boosted if it has iconic performers in the form of managers.
8. Management is an Art as well as Science: Theory combined with practical application makes management a special body or entity backed up by ethical considerations and influenced by social obligations.