In this article, we will learn all topics related to management. i.e. What is management, the meaning of management, characteristics of management, definitions of management, what are the principles of management etc. Management is the main book in the University of Rajasthan in B.com. So to score good marks in the exam you have study very hard. So here I will provide you with short notes of "The Management" Book.
Meaning of Management
Management is the process of planning, decision making, organizing, and controlling the human resources, financial, physical, and information resources of an organization to accomplish its goals in an efficient and effective manner. In other words, Management is the process of doing things done through the help of others. You can also understand as it is the process of doing things in the best and cheapest way with the help of others.
Definitions of the Management
There are many Great thinker's who gave definitions of management as their views. Out of them, some definitions are below -
According to F.W. Taylor,‘ Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way ‘.
According to Harold Koontz, ‘Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals.‘According to Lawrance Appley, 'Management is the development of people and not the direction of things.. It is the personnel administration.'According to Kreitner’s ,‘Management is a problem-solving process of effectively achieving organizational objectives through the efficient use of scarce resources in a changing environment.’
Characteristics Of Management
(1) Management is Goal-oriented Process:
The degree to which a person or organization focuses on tasks and the end results of those tasks. It is a very important character of management. Because it combines individual efforts towards achieving organisational goals. These goals are different from organisation to organisation. So Strong goal requires full support from its worker
(2) Management is All-pervasive:
Management is all-pervasive because it is applicable everywhere. It is universally applicable. For example, It is applicable to business institutions as well as NGO's (non - profitable organisation). It is needed everywhere.
(3) Management is a Group Activity:
Management cannot be done by a single person, as it involves many types of processes. As we know, every organisation has a large number of individuals with different reasons and purposes to join. So Management diverts the individual efforts in the right direction.
(4) Management is Continuous:
Management is a continuous process because it's a never-ending process. It is the process of constantly identifying the problem and solving them with appropriate steps. It is an ongoing process which means it is endless. We have to perform it for each and every time.
(5) Management is a Dynamic Function:
Management is a dynamic process in nature because it changes according to the need of the hour and the contingent situations. So, Management has to make changes in goal, objectives and other activities according to changes taking place in the environment. That is why it requires advanced techniques to manage business changes itself over a period of time.
(6) Management as Universal Activity:
Management is a universal activity because it applies to any form of activity, economic or non-economic.
Levels of Management :
1.Top-Level Management:
Top-Level Management is the highest level in organizational hierarchy, it includes Board of Directors and Chief Executives. They are responsible for formulating plans, defining the objectives, strategies and policies.
2. Middle-Level Management:
It is the second and most important level in the corporate ladder, as it creates a link between the top and lower-level management. It includes Departmental and division heads and managers who are responsible for implementing and controlling plans and strategies which are formulated by the top executives.
3.Lower Level Management:
It is also called a Functional or Operational level Management. It plays a crucial role in the organization because it helps in reducing wastage and idle time of the workers, improving the quality and quantity of output. It includes first-line managers, foreman, supervisors. Lower-level management directly interacts with the workers.
The three management levels form the management hierarchy, that represents the position and rank of executives and managers in the chart.
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