2. Definition of
Management
“Management is the planning,
organising, command, co-ordination & control of
technical, financial & accounting activities”.
“Management is the art & science of
preparing, organising & directing human efforts
to control the forces & utilise the material of
nature for the benefit of men”.
“Management means decision-making”.
3. Nature of Management
It is a process.
It is a social process.
Group effort.
Attainment of pre-determined
objectives.
It is a distinct entity.
It is a system of authority.
4. Contd..
Universality of management.
It is needed at all levels.
It is a discipline.
It is an integrative process.
It is an art as well as a science.
It is a profession.
5. It is a process
• Process management
involves those techniques by which
the managers co-ordinate the
activities of other people.
6. It is a social process
• Management is a social
process because management
functions are basically concerned with
relations among the people. It is called
a social process since the efforts of
human beings have to be directed,
coordinated and regulated by
management.
7. Group effort
• Management always refers
to group efforts and does not apply to
an individual.
8. Attainment of pre-determined
objectives
• Group efforts in management are
always directed towards the
achievement of some pre-determined
objectives.
9. It is a distinct entity
• Management is a separate &
distinct entity. The chief function of
the manager is not “to do” but to get
things done through others.
10. It is a system of
authority
• System of authority implies
hierarchy of command & control.
In every field, there are built-up
levels of authority to decide, direct
& control the business operations.
11. Universality of
management
• Management is a universal
application, ie; in every field of
Commerce, Politics, Religion, War or
in every concern there is a
management function to be
performed.
12. It is needed at all levels
• The most important feature
is that it applies to all levels of an
organization. The lowest level
supervisor has also to perform the
function of decision-making just like
the top level executives.
13. It is a discipline
• Management has its
organized body of knowledge,
principles & techniques. It is taught in
colleges & universities like other
disciplines such as Economics,
Sociology, Psychology, Political
Science, etc.
14. It is an integrative
process
• The essence of management
is integration of human & other
resources in such a manner that it
leads to effective performance.
Managers apply knowledge,
experience & principles for getting the
results.
15. It is an art as well as a
science
• Management is both a
science & an art. It has elements of
art & has characteristics of science.
16. It is a profession
• Management is
recognized as a profession as it
possesses all the attributes of
profession. It has a specialised body
of knowledge, principles & techniques
& that can be taught & transferred.
