All activities performed by a manger to get things done by others are known as management. In other words, management is to manage human and other resources tactfully for the achievement of organizational goals. It’s universal in all organized activities. It is an exercise of harmonizing men, money, machines, materials and methods towards fulfilling the defined objectives.
Check our list of traits of business administration
Every group is established for a particular objective. Management is an instrument or system that contributes for the efficient use of human and other resources to achieve predetermined objectives. The primary goal of enterprise administration is to maximize productivity with optimum use of human effort.
Management is essential where human activity exists. The process of business management could also be totally different from group to organization but the primary principles of management are same. It can be said that the management rules are universally applicable.
Business management is a part of social process. Management achieves its targets by, with, and thru the people. It utilizes human resources for the achievement of organizational goals. Administration has to consider not only the organizational targets but additionally the social objectives. It has to fulfill the wants of employees within the organizational resources.
Management is a dynamic and steady process. The management system of today may not be applicable or effective for tomorrow. Therefore, management must be dynamic and flexible with the changing environment of the society. Management has to modify its style according to the time and situation. This flexibility is essential for a company to adjust with the altering environment of the business.
The idea of enterprise administration is not applicable if there is only one particular person or proprietor. It represents a staff, class or section of people involved in numerous managerial functions. It is essential if there’s a group of people concerned in performing any activity to achieve widespread goals. Administration defines the authority, responsibility and procedures to perform specific work.
Management as a process involves numerous types of functions. One operate of management is interrelated with another function. The management clearly defines the particular process of work to achieve predetermined goal. It does not consider the trial and error approach.
Each science and art
Science is a systematized body of knowledge, principal or fact that’s experimentally proved. Equally, artwork is the personal skill and ability to use the scientific principles. Management is each science and art. It’s a science because it relies on some primary principles of universal application. It’s also an art because skill and ability is required for performing managerial functions.
Profession involves the specific type of work, adopted by special knowledge and education. With the development of joint stock firms and multinational firms the ownership and administration has been different. Administration of big organizations has been entrusted within the arms of professionals having particular skill and knowledge.
Multi-disciplinary in nature
Enterprise management is multi-disciplinary in nature. Lots of the rules and techniques utilized in administration are borrowed form a number of other disciples like psychology, sociology, economics and mathematics.
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