What is the Meaning Of Management?
Management is essential for every type of organization. Both business and non-business, big or small organizations need management to achieve their goals. Management is a process that includes a number of functions required for organizing the activities properly. The organizations have grown successfully with proper management.
Characteristics or Features of Management
The following are the characteristics or features of management:
1. Management is Goal Oriented Process.
The aim of the management is to achieve organizational objectives. All the efforts of the manager will be directed to reach goals. The functions and activities undertaken by employees will help in achieving organizational objectives. For example, if the goal is to produce 20,000 units of a product in a month, then the manager will motivate the employees and will organize the resources in such a way that the target of production is reached in time.
2. Management is Pervasive.
Management is a universal phenomenon. The use of management is not restricted to firms only, it is applicable to profit-making, non-profit-making, and non-business organizations as well, such as schools, universities, hospitals, clubs, etc. The concept of management is used in all countries of the world, whether it is India, the U.K., or the U.S.A.
3. Management is a Continuous Process.
Management is a continuous or never-ending function. All the functions of management are performed continuously. The functions of planning, organizing staffing, directing, and controlling are carried out by all the managers all the time. Sometimes it may be planning, then it is staffing or directing, and so on. So management activity is taken up continuously in an organization.
4. Management is a Group Activity.
Management refers to a group of persons involved in managerial activities. Different individuals are assigned different activities and they perform their roles. The combined efforts of various persons help an organization to reach its goals. Even the result of management affects every individual and every department. So management is a group activity involving persons in the organization.
5. Management is a Dynamic Function.
Management has to change as per the requirements of the environment, both internal as well as external. There may be a need to change goals, objectives, policies, and other activities according to the changes in the environment. External factors such as social, economic, political, and technical have a great influence on management. As the changes take place in the environment these will have to be implemented in the organization for sharing in the competitive world.
6. Management is Intangible.
Management can be felt but not seen. If things are going as per plan then it will be a case of good management. On the other hand, if there is confusion about carrying out different activities then it may be due to a lack of coordination and case mismanagement. For example, the production department is not able to produce goods as per the orders and the sales department is complaining about orders not meeting in time. It is a clear case of a lack of coordination among departments and is an example of bad management.
7. Management is Composite Process.
Management is a composite process of a number of functions. The functions are interdependent and iter-linked to each other and will be performed in a sequence. The managerial functions may be described as planning, organizing, staffing, directing, and controlling, the organizing function cannot be performed before planning, and directing function cannot be executed without staffing and planning. So management is a composite process of various managerial functions.
8. Management is Multi-dimensional.
Management consists of a number of activities such as management of work, management of people, management of operations. Management has to plan various activities in such a way that organizational objectives are achieved The tasks assigned should be performed effectively and efficiently. Human resource is the most valuable asset of any organization and employees should be motivated to perform their best, their needs and aspirations should be taken care of. The Operations of an Organisation are divided into various tasks and these should be performed as per the time schedule given. So management is multi-dimensional and consists of different activities.
9. Balancing Effectiveness and Efficiency.
Management is the act of balancing effectiveness and efficiency for better results. Effectiveness means achieving targets on time and efficiency refers to the optimum utilization of resources. Neither effectiveness alone nor efficiency alone will give good results, a balance between the two will help in achieving the targets.
Importance of Management
Management is necessary to run every organization successfully. Management is important for the following reasons :
1. Helps in Achieving Business Goals.
Management helps individuals in the organization to achieve business goals by directing their energies in that direction. It brings human and material resources together and mobilizes them to help in achieving goals.
2. Management Improve Efficiency.
Management plans to use various resources in such a way that wastages are minimized and productivity is improved. Efficiency and effectiveness and effectiveness are achieved through various managerial functions.
3. Management Creates a Dynamic Organisation.
Every organization operates in a changing business environment. It is essential to make adjustments as per the requirements of changes. Employees generally resist change. Management motivates the employees in such a way that they are willing to adopt changes as per the requirements of the time. Management will convince employees that change is not only beneficial for the organization but will also benefit them.
4. Management Helps in Achieving Individual Objectives.
Management will help in integrating the personal goals of employees with that of organizational objectives. The individual and organizational goals are generally in the same direction and management have to adjust them in such a way that both employees and organizations benefit. For example, the employees want to earn more. If the productivity in the organization is increased with efficiency, then both employees and the organization will benefit from it.
5. Helpful in the Development of Society.
Management has multiple objectives. They give due importance to society, consumers, employees, owners, etc. The consumers are provided quality goods at reasonable prices. The increased Productivity helps in giving financial incentives to employees and also increases Domestic Gross Domestic Product (GDP) and leads to the growth of the nation.
6. Management Brings Harmony to Work.
The employees in the organization come from different sections of society, with varied social backgrounds and different styles of work. if every employee works in his own way then there will be chaos in the organization. Good management will guide the employees properly and coordinate their activities in such a way that there is harmony at work. The harmony will help in creating a good working environment in the organization.
