Management concept
What is Management?
Management is a worldwide phenomenon and is therefore a popular and widely applied term. Management involves all kinds of organizations, whether they are political, business, social or cultural because it aids and provides directions for reaching a specific goal through the efforts of the people working in an organization.
Management is an activity with a definite purpose or aim. It is an activity which gives direction to the people’s endeavors for accomplishing specific set aims in an organization. It is a method of working jointly with your own efforts and through others in an organization in order to accomplish its goals by utilizing minimum reserves in this transforming world. There are plenty of chances that these goals may change from one organization to another. For instance, new products may be launched by one enterprise through market analysis whereas the other enterprise may try to maximize their profits by reducing their rates.
Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way.
Management involves creating an internal environment and hence, it makes use of different aspects of production. Hence, it is the management’s duty to make the environment favorable so that the people can put in their best efforts in order to do their jobs effectively and capably. This involves the easy access of raw materials, resolving the issue of wages and salaries, forming certain rules and regulations and so on.
Hence, good management involves working effectively and efficiently too. To work effectively denotes doing the task properly i.e., matching the square pegs and round pegs in their respective holes. To be efficient signifies ensuring the task is done properly with minimum cost and wasting resources.
Management as a Process
Generally, those processes which are performed by managers are called management processes. Management refers to a sequence of functions which are related with
Management is a worldwide phenomenon and is therefore a popular and widely applied term. Management involves all kinds of organizations, whether they are political, business, social or cultural because it aids and provides directions for reaching a specific goal through the efforts of the people working in an organization.
Management is an activity with a definite purpose or aim. It is an activity which gives direction to the people’s endeavors for accomplishing specific set aims in an organization. It is a method of working jointly with your own efforts and through others in an organization in order to accomplish its goals by utilizing minimum reserves in this transforming world. There are plenty of chances that these goals may change from one organization to another. For instance, new products may be launched by one enterprise through market analysis whereas the other enterprise may try to maximize their profits by reducing their rates.
Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way.
Management involves creating an internal environment and hence, it makes use of different aspects of production. Hence, it is the management’s duty to make the environment favorable so that the people can put in their best efforts in order to do their jobs effectively and capably. This involves the easy access of raw materials, resolving the issue of wages and salaries, forming certain rules and regulations and so on.
Hence, good management involves working effectively and efficiently too. To work effectively denotes doing the task properly i.e., matching the square pegs and round pegs in their respective holes. To be efficient signifies ensuring the task is done properly with minimum cost and wasting resources.
Management as a Process
Generally, those processes which are performed by managers are called management processes. Management refers to a sequence of functions which are related with