Definition of Management

Management is an important element in every organization. It is the element that coordinates currents
organizational activities and plans for the future. It is the act of getting people together to accomplish desired
goals and objectives using available resources efficiently and effectively.
Concepts of Management
i.

Traditional concept

Management is the art of getting things done through others.

ii.

Modern Concept

Management is defined as the process (refers to the basic steps) to get the things done with aim of achieving
goals effectively and efficiently (effectiveness refers to achievement of task on time and efficiently implies
optimum use of resources).
Efficiency refers to getting the most output from the least amount of inputs.
Effectiveness is often described as doing the right thingsthat is, doing those work activities that will help
the organization reach its goals.
According to Stoner
management is a process of planning, organizing, leading and controlling the efforts of organization members
and using all other organizational resources to achieve stated organizational goals.
According to F.W.Taylor
Management is the art of knowing what you want to do and then seeing that it is done in the best and
cheapest way.
According to Koontz, ODonnell, and Weihrich
Management is the establishment of an environment for group effort in such a way that individuals will
contribute to group objectives with the least amount of such money, time, effort discomfort and materials.
According to Johnson and Stinson say that
Management is the process of working with and through other people to accomplish organizational goals.

Management is the process of planning, organizing, leading and controlling of an organizations human,
financial, physical and information resources to achieve organizational goals in an efficient and effective
manner.
In short, Management is getting things done by other people in an efficient manner
Nature of Management
As blood, soul & mind are important for the life, same as management is for business. Someone has written,
"Management is the soul of Industrial development." The progress and prosperity of business organization is
based on management. It is the brain of an organization, without management nothing can be done in the
business. So, it has some nature which areas follows.
It comprises of planning, organizing, staffing, leading and controlling.
Factors of production like labor, capital and land are efficiently and effectively used by Management.
It applies to any types of organization.
It directs the efforts and activities of the people concerned towards common objectives.
It has to pay attention to fulfilling the objectives of the interested parties
Management is gradually turning towards professionalization.
It has to render social responsibilities.
Management is both science and art.
Management is concerned with productivity through efficiency and effectiveness.
Features of Management

Management is usually associated with group efforts

Management is purposeful
It is accomplished through the efforts of others
Management is action oriented
Management is indispensable
Management is intangible
Management can ensure better life

Organization, Administration and Management

Organization means the collection, preservation and coordination of the elements of an enterprise in an integrated
manner.
Administration is the driving force of an enterprise that sets the objectives, formulates plans and determines the guiding
principles.

Management is entrusted with the responsibility of executing the plans and policies set by the administration for
achieving goals and objectives.