Вы находитесь на странице: 1из 22

Welingkars Distance Learning Division

CHAPTER-01
NATURE OF MANAGEMENT

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Introduction
A business develops in course of time with complexities.
Management is not only essential to business concerns but
also essential to Banks, business concerns but also essential to
Banks, Schools, Colleges, Hospitals, Hotels, Religious bodies
etc. Every business unit has objectives of its won. These
objectives can be achieved with the co-operative efforts of
several personnel. As E. Demock has rightly said the
management is not a matter of pressing a button, pulling a
lever, issuing orders, scanning P & L statement, promulgating
rules and regulations. Rather it is the power to determine
what shall happen to the personalities and happiness of entire
people, the power to shape the destiny of a nation and of all
the nations which make up the world
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

A team is not made only of individuals.


A team is made of a common goal and
a common ideal. A common cause,
and a motivating force is
the spirit of the team.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Meaning of Management

Management is the art of getting things done by


a group of people with the effective utilization of
available resources. There are various definitions
given by various management gurus but simply
management is the process consisting of the
functions of planning, organizing, staffing,
directing and controlling the operations to
achieve specified objectives
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Features or Characteristics of
Management
Art as well as science
Management is an activity
Management is a continuous process
Management achieving pre-determined objectives:
Organized Activities
Management is a factor of production
Management as a system of activity
Management is a discipline
Management is a purposeful activity
Management is a distinct entity
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Features or Characteristics of
Management
Management aims at maximizing profit
Decision making
Management is a profession
Universal application
Management is getting things done
Management as a class or a team
Management as a career
Direction and control
Dynamic
Management is needed at all levels
Leadership quality

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Characteristics of Management
Art as well as science: Management is both an
art of possessing of managing skill by a person
and a science because of developing certain
principles or laws applicable in a place where
a group of activities are co-coordinated.

Management is an activity: It is a process of


activity relating to the effective utilization of
available resources.
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Characteristics of Management
Management is a continuous process: The process of
management mainly consists of planning, organizing, directing
and controlling the resources. The resources (men and money)
of an organization should be used to the best advantages of
the organization to achieve the objectives.

Management achieving pre-determined objectives: The


objectives of an organization are clearly laid down. Every
managerial activity results in the achievement of objectives
fixed well in advance.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Characteristics of Management
Organized Activities : Management is a group of organized activities. It can
be in the form of limited company or a small club. All the organizations
have an objectives and these objectives is achieved through systematic way
of organized activities.

Management is a factor of production : The factors of production includes


land, labor, capital and entrepreneurs. Land means a place where
production is carried on. Labour refers to paid employees either skilled,
unskilled, semi-skilled, manager, supervisor and the like. Capital refers to
the working capital in the form of cash, raw material and finished goods
and fixed capital as in the form of plant facilities and production facilities.
These land, labour and capital can not achieve the organizations goals. It
can be achieved only by an organizations goals. It can be achieved only by
an entrepreneur in case of small organization and by management in case
of large organizations.
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Characteristics of Management
Management as a system of activity : Individuals are foundation of
the management. Management ensures the goal congruence
between individuals and organization objectives.

Management is a discipline: The boundaries of management are not


exact like other physical science. It may be increased by continuous
discovery of more aspects of business enterprise.

Management is a purposeful activity: Management is concerned


with objective achievement through planning, organizing, staffing,
directing, controlling and decision making.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Characteristics of Management
Management is a distinct entity: Management is a distinct
from its functional activity. As function is to do while
management is to how to get things done

Management aims at maximizing profit: The available


resources are properly utilized to get desired results.

Decision making: Decision making arises because there is


availability courses of actions. The quality of decision taken
determines the organization performance

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Characteristics of Management
Management is a profession: It posses the qualities of a profession.

Universal application: The same principles of management are


applicable in every type of industry only the practice differs from
one to another.

Management is getting things done: Manager gets things done by


others.

Management as a class or a team: Class means group of people


having homogeneous characteristics to achieve common objectives.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Characteristics of Management
Management as a career: Now a days management is
developed as a career focused on specialization like Finance,
Marketing, Systems, Personal etc and they are appointed in
the key posts of the management.

Direction and control: Manager directs his subordinates in the


performance whenever necessary. Direction & control deals
with the activities of human effort.

Dynamic: The management is not static in the ever changing


fast developing business world as new techniques are
developed and adopted by the management
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Characteristics of Management
Management is needed at all levels: The
functions of planning, organizing, directing,
controlling and decision making is performed
by all the level of organization.

Leadership quality: Leadership quality is


developed in the persons who are working in
the top level management.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Functions of Management
The important functions of management are as below

Planning
Organizing
Staffing
Directing
Co-coordinating
Motivating or actuating
Controlling
Innovation
Representation
Decision Making
Communication
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Importance of Management
Management meets the challenge of change
Accomplishment of group goals
Effective utilization of business
Effective functioning of business
Resource development
Sound organization structure
Management directs the organization
Integrates various interests
Stability
Innovation
Co-ordination and team spirit
Tackling problems
A tool for personality development
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Luther Gullik classifies the functions of


management as

POSDCORB:

Planning, Organising, Staffing, , Directing, Co-


ordinating, Reporting and Budgeting.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Importance of Management
Management meets the challenge of change: In this ever changing business world,
an efficient management saves the business brought by the challenges.

Accomplishment of group goals: The achievement of objectives depends upon


proper planning of available resources and quality of decision taken and control
made by the unit.

Effective utilization of business: In eight Ms man, money, materials, machines,


methods, motivation, markets and management, management has control over
remaining Ms.

Effective functioning of business: Ability, experience, mutual understanding, co-


ordination, motivation and supervision are the factors for effective functioning of
business. Management utilizes the abilities of workers and fulfills their executions
through motivation techniques.
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Importance of Management
Resource development: Resources like men, material, money and machines are
identified and developed by the management.

Sound organization structure: Sound organization structure clearly defines the


authority and responsibility.

Management directs the organization: Management directs and controls the org.

Integrates various interests: Management takes steps to integrate various interests


to achieve the objectives of an organization.

Stability: The fluctuations caused by changing policy of the government, pressures


from competitors and changing preferences by customers in the business are
stabilized by the management.

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Importance of Management
Innovation: New ideas are developed by management and
implemented in the organization.

Co-ordination and team spirit: Management coordination the


activities of different departments and establishes team spirit to
achieve the objectives.

Tackling problems: Good management acts as a friend of workers


while tackling problems.

A tool for personality development: Management gives direction and


training to the workers that help them to raise their efficiency and
productivity
We Learn A Continuous Learning Forum
Welingkars Distance Learning Division

Administration and Management


There are various opinions of writers for the
meaning of administration and management.
In general, administration is distinguished as a
top level function while management as a
lower level functions

We Learn A Continuous Learning Forum


Welingkars Distance Learning Division

Difference between Administration


Sr. Basis of Administration Management
No. Distinction
1 Policy and Determines policy to be Implements the policy and achieve
Objectives followed and decide the the objectives.
objective to be achieved.
2 Directing of Not directly involves in the Directly involves in the execution of
human efforts execution of plan and plan and achieving objectives.
achievement of objectives
3 Main functions Planning, organizing and staffing Directions, motivation and control.

4 Levels of Top level executives (owners or Lower level executives ( Manager,


executives board of directors) supervisor and workers)

5 Position Acts as a principal Acts as an agency


6 Knowledge Requires administrative ability Requires technical ability more than
more than technical ability administrative ability.

We Learn A Continuous Learning Forum

Вам также может понравиться