Management is an activity concerned with guiding human and
physical resources such that organizational goals can be achieved. Features of
management can be highlighted as: -
èManagement is Goal-Oriented: The success of any
management activity is accessed by its achievement of the predetermined goals
or objective. Management is a purposeful activity. It is a tool which helps use
of human & physical resources to fulfill the pre-determined goals. For
example, the goal of an enterprise is maximum consumer satisfaction by
producing quality goods and at reasonable prices. This can be achieved by
employing efficient persons and making better use of scarce resources.
èManagement integrates Human, Physical and Financial
Resources: In an organization, human beings work with non-human
resources like machines. Materials, financial assets, buildings etc. Management
integrates human efforts to those resources. It brings harmony among the human,
physical and financial resources.
èManagement is Continuous: Management is an ongoing process. It
involves continuous handling of problems and issues. It is concerned with
identifying the problem and taking appropriate steps to solve it. E.g. the
target of a company is maximum production. For achieving this target various
policies have to be framed but this is not the end. Marketing and Advertising
is also to be done. For this policies have to be again framed. Hence this is an
ongoing process.
èManagement is all Pervasive: Management is
required in all types of organizations whether it is political, social,
cultural or business because it helps and directs various efforts towards a
definite purpose. Thus clubs, hospitals, political parties, colleges,
hospitals, business firms all require management. Whenever more than one person
is engaged in working for a common goal, management is necessary. Whether it is
a small business firm which may be engaged in trading or a large firm like Tata
Iron & Steel, management is required everywhere irrespective of size or
type of activity.
èManagement is a Group Activity: Management is very
much less concerned with individual’s efforts. It is more concerned with
groups. It involves the use of group effort to achieve predetermined goal of management
of ABC & Co. is good refers to a group of persons managing the enterprise.
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