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A to Z Full Forms and Acronyms

What is Management ? What are the importance of Management ?

what is management?what are the characteristic of management? what are the importance of management?

What is Management ? What are the importance of Management ?

What is Management?

Management is the art of getting things done through other effectively and efficiently.in other word we can say that management is the process of planning, organising, staffing, directing, and controlling.

Characteristic of Management:

Management is goal oriented process:

Management aims at achieving the goal of the organisation effectively and efficiently. The functions of manager lead to the achievement of organisational objectives for example, if the objective of a company is to sell 500 bikes then manager will plan the things, motivate all the employees and organise all the required resources keeping in mind the main target of selling 500 bikes.

Management is all pervasive:

Management is needed in all type of organization whether large or small, business as well non business, profit or non- profit making organization even a hospital, school, club and house has to be managed properly.

Management is a continuous process:

Management is a continuous or never ending function. These functions are- planning, organising, directing, staffing and controlling are performed by all managers all the times.

Management is a dynamic function:

In order to be successful an organization has adapt the change taking place in the environment Thus management is dynamic in nature and adapts to the ever-changing social and economic condition.

Management is an Intangible Force:

Management cannot be seen but it’s presence can be felt in the way of organization function. The presence of management can be seen by seeing the orderliness and coordination in the working environment of the company.

Composite process:

Management consists of series of functions like planning, organising, staffing, directing and controlling which must be performed in a proper sequence. These functions are not dependent of each other.

Importance of management:

Management helps in achieving group goals:

Management is needed  not  for  itself however  it is required for  achieving  the  goals  of  the  organisation. The task of a manager is  to provide  a  common  direction  to  the  individual  effort  in  achieving the goal of the organisation.

Management increases effici­ency:

The aim of a manager is to decrease the cost and   increase productivity through planning, organising, staffing, directing and controlling the    activities of the organisation.

Management helps in achieving personal objectives:

A manager motivates and leads his team in such a manner that individual members are able to achieve his goal while contributing to organizational objective. 

Management creates a dynamic organization:

Organisations have to survive in dynamic atmosphere thus managers keep creating changes within the organisation to match the environmental changes. The employees in the organisation are resist to change. Efficient management motivates employees to adopt changes willingly by persuade them that change is not only beneficial for organisation but it improves the employee performance.

Management help in coordination between Individual and Organisational Goals:

Effective management coordinates individual goals of individuals with formal goals of the organisation. It motivates staff to place their best efforts to contribute to organisational goals through it, achieve their personal goals.

Management develop Analytical and Conceptual Ability of Managers:

Management helps to analyse the organisational issues, link them with alternative organisational matters and arrive at solutions geared towards organisational goals.

 

 

 

 

A to Z Full Forms and Acronyms

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