MANAGEMENT

MANAGEMENT

Definitions

Management is concern with the effective utilization of resources i.e. Man, Machine, Material and Money and for that we have to create an environment in which individuals working in groups can work effectively to achieve the organizational goals.

We have some definitions given by the different authors:

“ Management is the art of getting the things done through and with others. It is the art or process of designing and maintaining an environment in which individuals working together in groups effectively to achieve selected goals.” Harold Koontz


“Management is the process of Planning, Organizing, Leading and Controlling the work of organizational members and of using all available resources to reach predetermined goals.” Stoner

Conclusion

On the whole we can say that, Management is an art of creating an environment in which individuals do their jobs most efficiently so that the maximum output can be achieved. It is the process of Planning, Organizing, Leading and Controlling the things.

Nature/ Properties/ Features/ Characteristics

(i) Objective is must.
(ii) Better utilization of resources.
(iii) Management is multi disciplinary.
(iv) Management is concerned with Human Resources.
(v) Management is required at all three levels.(Top, Middle & Lower)
(vi) Management is the process. (Planning, Organizing, Leading, Controlling).
(vii) Management is intangible (invisible).
(viii) Management is ‘Science’ as well as ‘Art’.
(ix) Management is Dynamic.
(x) Management is Universal.

(i) Objective is must: The ultimate aim of the Management ios to achieve predetermined object. If object is not present, then the Management can’t work. So, the objective is must for the proper working of the Management, without that Management is just like a child who forgets the address or way of his home.

(ii) Better utilization of resources: The main aim of the Management is to increase production and efficiency. Production will be optimum (maximum) if we use the resources most efficiently. Management decides how to allocate the resources to the production unit so that the maximum output can be achieved. So, Management uses the resources like Man, Machine, Material, Money, efficiently and gets maximum production.

(iii) Management is multi disciplinary: Management is not an independent approach. It depends on various fields such as Mathematics, Accounting, Economics, Psychology etc. It uses Economics to solve the marketing problems, Accountancy to get financial information, Statistics to get data and so on. So we can say that Management is Multi-disciplinary approach.

(iv) Management is concerned with Human Resources (HR): HR is required for every organization as no work can be done without human beings. So, ultimately Management has to deal with human beings. According to Koontz “ Management is the art of getting the things done through and with people.”

(v) Management is required at all levels: Management is required at all levels such as Top level, Middle level and Lower level. The Top Management takes the major decisions and Middle and Lower Management take minor decisions.

(vi) Management is the Process: Process is meant to do anything in a systematic manner. Management is the process because in this, every work is to be done in systematic manner only. It starts with Planning, then Organizing them on Leadership and finally the Controlling of the same.

(vii) Management is Intangible: Management is intangible because it can’t be seen, it can only be felt by the results at the end. Like, when the objective or target achieved it proves that the Management was good, but, if not, it says the Management was poor.