Management is the process of planning, organizing, staffing, directing, and controlling organizational resources to achieve goals efficiently and effectively.
Nature of Management:
Goal-Oriented – Aims to achieve group objectives.
Pervasive – Present at all levels and in all types of organizations.
Multidimensional – Involves work with people, operations, and goals.
Continuous Process – Ongoing series of functions.
Group Activity – Involves teamwork and coordination.
Dynamic Function – Adapts to changing environment.
Intangible Force – Cannot be seen but felt through results like improved performance.
Objectives of Management:
Organizational Objectives – Survival, profit, growth.
Social Objectives – Serving society (e.g., fair wages, eco-friendliness).
Personal Objectives – Employee satisfaction, development, and needs.
Importance of Management:
Achieves group goals
Increases efficiency
Creates a dynamic organization
Helps in achieving personal objectives
Helps in development of society
Management as an Art, Science, and Profession:
Art – Requires creativity, personal skills, and practice.
Science – Based on principles, cause-effect relationship, and experimentation.
Profession – Has a code of conduct, specialized knowledge, but lacks strict entry barriers (so it’s not a full profession yet).
Levels of Management:
Top Level – Strategy and vision (e.g., CEO).
Middle Level – Executes plans (e.g., department heads).
Lower/Supervisory Level – Day-to-day work (e.g., supervisors, foremen).
Functions of Management:
Planning
Organising
Staffing
Directing
Controlling