All activities performed by a manger to get things performed by means of others are known as management. In other words, management is to manage human and different resources tactfully for the achievement of organizational goals. It is common in all organized activities. It’s an exercise of harmonizing men, cash, machines, materials and strategies towards fulfilling the defined objectives.
Check our list of traits of enterprise administration
Every group is established for a selected objective. Management is an instrument or system that contributes for the environment friendly use of human and other resources to achieve predetermined objectives. The main goal of business management is to maximize productivity with optimum use of human effort.
Management is essential where human activity exists. The process of enterprise administration could also be different from group to organization but the primary ideas of management are same. It can be said that the management principles are universally applicable.
Business administration is a part of social process. Management achieves its goals by, with, and thru the people. It makes use of human resources for the achievement of organizational goals. Management has to consider not only the organizational aims but also the social objectives. It has to fulfill the needs of employees within the organizational resources.
Management is a dynamic and continuous process. The administration system of today is probably not applicable or effective for tomorrow. Due to this fact, administration should be dynamic and versatile with the changing surroundings of the society. Administration has to modify its type according to the time and situation. This flexibility is essential for a corporation to adjust with the changing environment of the business.
The concept of enterprise administration is just not applicable if there may be only one particular person or proprietor. It represents a group, class or part of people concerned in numerous managerial functions. It is essential if there is a group of people involved in performing any activity to achieve frequent goals. Administration defines the authority, responsibility and procedures to perform specific work.
Management as a process includes varied types of functions. One function of administration is interrelated with another function. The management clearly defines the specific process of work to achieve predetermined goal. It doesn’t consider the trial and error approach.
Both science and artwork
Science is a systematized body of knowledge, principal or reality that is experimentally proved. Equally, artwork is the personal skill and ability to apply the scientific principles. Management is each science and art. It’s a science because it relies on some basic ideas of common application. It is usually an art because skill and ability is required for performing managerial functions.
Profession includes the precise type of work, followed by special knowledge and education. With the development of joint stock companies and multinational corporations the ownership and administration has been different. Administration of giant organizations has been entrusted in the hands of professionals having particular skill and knowledge.
Multi-disciplinary in nature
Business management is multi-disciplinary in nature. Lots of the rules and techniques used in management are borrowed form a number of different disciples like psychology, sociology, economics and mathematics.
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