The sociologists consider managers as a part of the class elite inthe society.The definitions by some of the leading management thinkers and practitioners are given below: Management is the coordination of all resources through theprocess of planning, organising, directing and controlling inorder to attain stated objectives. Change ), 9 Factors to Consider When Starting a Business, Information and Communication Technology (ICT) Concepts. Top-level managers are the strategic managers who focus on long term organization concerns: its stability, development, progress and over-all efficiency and effectiveness. Concept and Characterstics of management Concept of Management . Every discipline of art is always backed by science which is basic knowledge of that art. “Management is the art of getting things done through people in formally organized groups” – Koontz Management refers to a set of activities (planning, organising, decision making, controlling etc.) Management: Definitions, Concept, Objectives and Scope! But you might have a different point of view about management but the purpose of it remai… Any action can be accomplished if many people contribute to achieving the desired results. The cycle of management continues to operate so long as there is organised action for the achievement of group goals. Managers have become a very powerful and respected group in modern society. It cannot be seen but its presence can be felt everywherein the form of results. Management is planning an objective and achieving that objective. The sum total of these activities is known as management process. It integrates human and other resources. However, the managers who perform the functions of management are very much tangible and visible. (viii) Management is an Art as well as Science: It contains a systematic body of theoretical knowledge and it also involves the practical application of such knowledge. Threefold Concept of Management. Success and stability of business enterprise: Efficient management is needed for success, stability and prosperity of a business enterprise. Management: Concept, Nature, Process, Significance. ( Log Out / Indeed, it is the only thing that ever has.” …………and we strongly believe on …, Concept of Management : Definition, Need, Concept and Nature of Management. As viewed by a sociologist, management is a class-and-status system. Management offers a very rewarding and challenging career. Discuss whether Management is an Art, Science or Profession. The management process includes planning, organising, staffing, directing and controlling functions.Management as a process has the following implications: Like land, labour and capital, management is an important factor of production. Definitions of Management 3. A presentation about Nature and Concept of Management Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Similarly, every discipline of science is complete only when it is used in practice for solving various kinds of problems faced by human beings in an organisation or in other fields of social life which is more related to an art. No greater damage could be done to economy and society than to attempt to professionalise management by licensing managers or by limiting access to management to people with special academic degree”. It consists of getting the objectives of an organisation and taking steps to achieve objectives. Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating and controlling, at other times it is used to describe it as a function of managing people. Thus, management is purposefull. It is the pervasiveness of human element which gives management its special character as a social process”. Planning is the determining of the organization’s goals defining strategic actions to accomplish them, developing coordination/integration activities, allocating appropriate organizational. They are not mutually exclusive. Change ), You are commenting using your Twitter account. Management goals are called group goals or organisational goals. Nature of management. It is very difficult to give a precise definition of the term ‘management’. Management functions include: planning, organizing, staffing, leading and controlling. (ii)Management is universal: Management is an essential element of every organised activity irrespective of the size or type of activity. We, human beings are called social animals as we live in a society or a group. Civil servants and defence personnel who manage public sector undertakings are also part of the management team. Principles 5. This is usually the first thing taught about management and is the most important module. The term ‘management’ has been used in different senses. Senior managers also enjoy a high standard of living in society. Concept, nature, process and significance of management; Managerial roles; An overview of functional areas of management; Development of Management Thought; Classical and neo-classical systems; Contingency approaches. ( Log Out / Planning, organizing, staffing, leading, and controlling will all go to waste if coordination, efficiency, and effectiveness are not practiced by an organization’s appointed managers. Any action can be accomplished if many people contribute to achieving the desired results. It is concerned with the best way of doing things and is consequently, personalised in nature. Management is needed as these functions are performed through the management process. Orderly achievement of business objectives: Efficient management is needed in order to achieve the objectives of business activity in an orderly and quick manner. The story begins with our tagline “ज्ञानम् परमं” (Knowledge is Supreme), which has been subsequently becoming our brand. Management is needed for planning business activities, for guiding employees in the right direction and finally for coordinating their efforts for achieving best/most favorable results. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. This is because the senior managers of companies take decisions that affect the lives of a large number of people. Using this approach, we can arrive at the management process which describes the […] Management is goal-oriented: The ultimate purpose of management is to achieve certain goals over a period of time. Similarly, a successful manager must know the principles of management and also acquire the skill of applying those principles for solving managerial problems in different situations. The basic goal of manage- ment is to ensure efficiency and economy in the utilisation of human, physical and financial resources. Managers also help to improve the social life of the public and the economic progress of the country. The success of management is measured by the extent to which the established goals one achieved. Organizational Behavior Approach (OB) is the study of the conduct, demeanor or action of people at work. According to Peter F. Drucker, “Management is a practice rather than a science or profession through containing elements of both. Total Quality Management (TQM) is a philosophy of management that focuses on the satisfaction of customers, their needs and expectations. Science teaches one to know and art to do. It comprises principles and practices for effective management of organisations. The main purpose of living together in a … Coordination is the harmonious, integrated action of the various processes of an organization. ADVERTISEMENTS: Read this article to learn about the Meaning, Nature and Characteristic of Management! Art without science has no guide and science without art is knowledge wasted. Science (theory) and art (practice) are both essential for the success of management. Change ), You are commenting using your Facebook account. “Never doubt that a small group of thoughtful, committed, citizens can change the world. Related posts: Essay on the Meaning and Definition of Business Management 7 different meaning of management 10 salient features that highlights the nature of business management 5 main Processes of Management by Objectives Short note on Strategic Management There was a jungle of managerial knowledge. Here are some useful articles for you to read next: Concept of Management: Definition and Characteristics; Tasks of Professional Manager Nature of Management Process: Management is a process which brings the scarce human and material resources together and motivates people for the achievement of objectives of the organization. A profession is calling that requires specialised knowledge and often, long intensive academic preparation. 1.1 INTRODUCTION In the modern times one of the most important human … Organizing is the assigning of tasks, setting apart of funds, bringing harmonious relations among the individuals and work groups/teams in the organization. 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