CONCEPT,NATURE AND IMPORTANCE I OF MANAGEMENT By Rekha Prasad
• Every individual works in the organized group to achieve what he can’t achieve individually• Management is an essential part of any group activity. Group can be:- – Family – Play group – Work group – School – Business firm – A government• Management is universal process• Wherever there is human activity, there is management
“Management”Management is looked at from the following angles• As a Noun• As a Process• As a Discipline
Management as a NounManagement refers to all those persons who are concerned with getting the things done through others.Ex.---persons of supervisory responsibilities, MD, GM, Board of Directors HUMAN RELATIONSHIP CONCEPT
Management as a ProcessManagement refers to all that manager does.Ex.---Planning, Organizing , Staffing, Directing, Controlling FUNCTIONAL CONCEPT
Management as a DisciplineManagement refers to a body of knowledge, a practice and a discipline.Management refers to the principles and practices of management as a subject of study
Definition of ManagementFunctional ConceptTo manage is to forecast and plan, to organize, to command, to coordinate and to control ----Henry Fayol
Human Relation ConceptManagement is the art of directing and inspiring people ---- Mooney & RaileyManagement is the art of getting things done through & with people in formally organized groups. Its an art of creating an environment in which people can perform and individuals could co-operate towards attaining of group goals ---- Herold Koontz
Nature/Characteristics of Management • Goal- oriented—(economic & social objective) • Continuous process • Coordinative Force • Intangible Force • Part of Group Effort • Accomplishes Results through the Cooperation of Others • Balances Effectiveness & Effeciency • Dynamic Discipline • Science as well as an Art • Universal in character • Needed at all levels of Organization
Purpose/Objectives of Management • Optimum utilization of resources • Minimizing the element of risk • Improving performance • Planning for the future. • Growth and Development of business • Better quality goods • Ensuring regular supply of goods • Discipline and Morale • Mobilizing the best talent • Research and Development
Importance of Management1. Accomplishment of goals2. Optimum utilization of resources3. Sound Organisation4. Providing Vision & Foresight5. Harmony in work6. Helping the Employees in Achieving Personal Objectives7. Development of Society & Nation8. Increased profit
A Science or an Art ?The debate whether management isa science or an art is complicated.Management depicts characteristicsof both.
Management as a ScienceScience is a systematized body of knowledge pertaining to a particular field of enquiry.i. Systematized body of knowledgeii. Scientific Observationiii.Experimentationiv.Verifiable Principlesv.Universal Application
Mgt as Science It is systematized body of knowledge acquired by mankind through observation and experimentation and which is capable of verification• Systematized body of knowledge that uses scientific methods of observation• Principles are evolved on the basis of continued observation• Principles are exact & universal application without any limitation• Cause & effect relationship• Validity can be verified and they prove a reliable basis of predicting future events
LIMITATION OF MANAGEMENT AS A SCIENCE OR MANAGEMENT AS AN INEXACT OR SOCIAL SCIENCE• Management principles are not fundamental truths & not supported by research (not a exact science).• It is difficult to establish cause & effect relationship• Application of management principles depend upon situations & factors.• Management deals with people at work & it is very difficult to predict their behavior accurately.• Principles of management do not have a universal application (soft science or behavioral science)• Management lacks certainty of results
Management as an ArtArt signifies the application of Knowledge & personal skills to bring about desired results i. Body of Knowledge ii. Personalised Application of Knowledge & Skills iii. Practice iv. Creativity
Mgt as an ArtIt is systematic application of skill or knowledge in effectingaccomplishment of results. It represents the methods or ways of doing specific thing andindicates how an objective is to be achieved.Every art is practical and is concerned with creation ofsomething. • Personal skill • Practical knowledge • Regular practice • creativity
Management as a Proffesioni. Specialised field of Knowledgeii. Restricted entry based on Education & Trainingiii. Representative or Professional associationiv. Ethical Code of Conduct for self regulation.v. Social Responsibilityvi. Professional fee.
Mgt & AdminThree Views• Administration is part of 1. Management 2. Administration management• Administration comes first, 1. Administration management follows it 2. Management• Management and administration are same Management = Administration
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