Management:
As defined by Peter Drucker “Management is tasks, management is discipline, but management is also people. Every achievement of management is the achievement of a manager. Every failure is a failure of a manager.”
As per the meaning ‘management is tasks’ explain that management is responsible for planning, coordinating and carrying out many tasks. ‘Management is discipline’ can be explained as set of practices used to maximize the efficiency of the people at work. Guiding and organizing them. ‘Management is also people’ that is a social group under which manager exercises his powers on his subordinates with skills.
Management is the process of designing and maintaining an environment in which individuals an environment in which individuals work together efficiently to accomplish selected goals of the firm. There are five main functions of management: * Planning: selecting missions and objectives as well as the actions to achieve them, which requires decision making. * Organizing: establishing an intentional structure of roles for people to fill in an organization. * Staffing: Hiring people on the vacant positions of the organization * Leading: influencing and motivating people to work towards organization goals. * Controlling: measuring and correcting individuals so that they adhere to plans. The aim of all managers should be to create a surplus, by establishing an environment in which people can accomplish group goals with the least amount of time, money, materials and personal dissatisfaction. Another way of achieving the aim of managers is that they must raise productivity of individuals by making them effective and efficient.
“Managing means leading, making things happen through people: for that is relevant to all levels of management, not just the top management.” Sir Peter Parker
Managers have formal authority and status as per the level of hierarchy and have to perform many different roles.