concept of management
Once the overall goals, objectives, and operational strategy have been set forth, the next function of management is to organize all the resources to implement the organizational plan. (7) Classical or bureaucratic management is appropriate where the environment is relatively unchanging. Similarly they also agree that all managerial functions are universal and all managers in any field of human efforts perform those typical managerial functions irrespective of what they are managing. … They are paid wages for doing their work. Any organization dedicated to achieving or accomplishing specific goals needs to a set of management concepts. (3) Quantitative school wants to improve the quality of decision making, i.e., fulfilling the stated objectives of the enterprise. Hence, management has not only to manage the business but also to manage both managers and workers. No management should feel satisfied with today’s work if it has not thought of tomorrow. Management is an activity just like playing, studying, teaching etc. The volume of paper work in office has increased manifold in these days due to industrial revolution, population explosion, increased interference by government and complexities of taxation and other laws. It is a specific branch of knowledge which is studied in campuses and schools like economics, sociology, mathematics, political science etc. 2. Our mission is to liberate knowledge. The thrust of above mentioned definitions is that integration and co-ordination of various factors of production is essential for running a business properly and this function is undertaken by management. To overcome the limitations of the above concepts, Theo Haimann, the leading management expert has explained three basic concepts of management as under: Management is a process. These persons individually are called managers. “To manage is to forecast and plan, to organize, to command, to co-ordinate, and to control.” Fayol described management as a process of five functions such as planning, organizing, commanding, coordinating and controlling. The purpose of using the break-even analysis is to decide the optimum break-even point, that is, where profits... Read More, Ans. Prohibited Content 3. It provides the principles and practices and a person must learn them in order to become a successful manager. The efficiency of management factor can be improved through training and development of executives. With the growing importance of organizations and the need for their efficient management, managers have become a very powerful or elite group in society. It is not governed by the laws of mechanics. Management is thought of as a special kind of leadership in which the accomplishment of organisational goals is paramount. The knowledge is verifiable through experiments giving us the cause-effect phenomenon. One of the functions of management is to organize the office work in such a way that it helps the management in attaining its goals. Various functions which are performed by managers to make the efficient use of the available material and human resources so as to achieve the desired objectives are summed up as management. These people are individually known as ‘managers’. Management coordinates the other Ms (manpower, methods, markets, materials, machinery and money) of an organization and, therefore, it occupies a unique place among the productive factors as can be seen. 2. Processes refer to accomplish these mentioned activities. Quite often the term management is used to refer to both the persons who occupy managerial positions as well as to the activities which managers perform. 3. It is a broader concept on its own. Hence, management dealing with complex human beings is bound to be an inexact science. (ii) Management is treated as an art. However, we do not have unified views of authorities on what are the managerial functions and what is management precisely. (iii) Analysis of underdeveloped... Read More, Ans. The profit earning objective of a business is also to be kept in mind while undertaking various functions. Whichever the case, management concepts are almost always an ongoing and continuous operation, with the function of maximizing company objectives and goals. Various definitions of management are discussed as follows: “Management is the art of getting things done through others.” Follett describes management as an art of directing the activities of other persons for reaching enterprise goals. Using this approach,... Definitions of Management:. It has drawn heavily from Psychology, Sociology, and Anthropology etc. It is directed toward the achievement of predetermined goals or objectives. As per the above mentioned definitions, management is the art of getting things done through people who may be managers or non-managers. The concept of functions of management was put forth by Henri Fayol, a management theorist from France, influential in proposing many of the management concepts in use today. Management keeps itself in touch with the current environment and supplies foresight to the enterprise. Theoretical teaching of medicine and engineering is almost invariably accompanied by practical work in a hospital or workshop. This definition include principal ideas of any school of management thought: (1) Functional school sees management as a process of planning, organising, directing and controlling. Art is not only based on knowledge but it derives its inspiration through intuition, inspiration and such other purely subjective attributes. Harry H. Wylie defines office management as “the manipulation and control of men, methods, machines and material to achieve the best possible results—results of the highest possible quality with the expenditure of least possible effect and expense, in the shortest practicable time, and in a manner acceptable to the top management.”. Efficient and successful implementation of these management concepts will guarantee company success. More elaboration is given by George R Terry. Report a Violation, Human Resource Management: Definitions and Features of Human Resources Management, Scope of Management: Functional Areas and Subject Matter of Management. One way to analyse management is to think in terms of what a manager does. The efficient management of human and, physical resources is essential for the achievement of objectives of any group. Management may be a technique for getting things done through others by satisfying their needs and helping them grow. Disclaimer 8. Definitions of Management 3. The manager of today has to encourage, communicate, develop and stimulate his employees to secure higher output. (2) Maximum human welfare and satisfaction. Rather than having the management concept of business as a war and battlefield, there should instead be one of harmonization between various components of the business model. It can be regarded as a process of identifying and assessing the consumer needs with a view to first converting them into products or services and then involving the same to the final consumer or user so as to satisfy their wants with a stress on profitability that ensures the optimum use of the resources available to the enterprise. One of the earliest scientists of management Henri Fayol has laid down 14 principles of Management. Management is what managers do. This concept is very simple because, the term management is used as a subject of instructions. Privacy Policy (4) Both, however, stressed on the technical or professional aspects of the management and both are responsible for the managerial revolution which took place after 1940. Management can be taken as process-managerial process or social process either engage in planning, organizing, staffing, directing and controlling or mobilizing the group activities to achieve the corporate goals. 4. “Management means decision-making.” Decision-making cannot be the only function of management even though it is very important. Several specialized courses have been developed in different branches of management. Art reflects practical application of knowledge and it is perfected through knowledge and experimentation. These above definition of management, given by different writers and authorities, are found giving different senses. Organising is the process of developing a structure among people, function, and physical facilities to execute the plans and achieve stated objectives. Top management is mainly concerned with determination of objectives, strategic planning, policy formulation and overall control of the organization. The writings of Taylor and Fayol stimulated further investigations into the theory of management and its application to business. Marketing management refers to the planning, organizing, directing and controlling the activities of the persons working in the market division of a business enterprise with the aim of achieving the organization objectives. google_ad_client = "ca-pub-7972651240841365"; Management is regarded as a science because it has developed certain principles, generalizations and techniques which have more or less universal application. To implement the plans there must be some organisation structure. Public is also a stake holder in business, it should also benefit from good performance of business. Any organization is comprised of people, and this staff needs direction, a third management concept. Whereas Fayol concentrated on the Managing Director and worked downwards on the organisation hierarchy. Plagiarism Prevention 4. Essays, Research Papers and Articles on Business Management, Useful notes on Management: Introduction, and Concept of Management, Personnel Management: Essay on Personnel Management, Market Segmentation: Definition, Concept, Process, Levels, Benefits and Examples, Social Responsiveness and Social Audit | Management. There should be a proper environment which should encourage good persons to join the enterprise. The third function of a manager is that of directing stimulating and motivating people in the organisation to undertake willingly the desired actions as per predetermined plans and objectives. (4) Systems approach concentrates on the entire organisation, i.e., inputs-process-outputs. The management process reduces uncertainty and stabilizes the organisation. Content Guidelines PreserveArticles.com is a free service that lets you to preserve your original articles for eternity. Scientific attitude and scientific method shall be applied in problem-solving approach, e.g.. marketing research, business research, etc. Therefore, there are limited resources and unlimited wants and desire.
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