Five Ms of Management

1. The 5 M’s of Management
Abid Hussain
Research Scholar
abidmardan@gmail.com

2. What is Management and 5M’s
• According to Oxford Language Dictionary a management is “the
process of dealing with or controlling things or people.
• The factors of production consists of many factors such as land,
labour, capital, entrepreneurship and management in which
management is a vital factor of production.
• what is 5 M’s of management : There are other factors of production
too,which are money, manpower, materials, machinery and methods
known as the five m's of management. these are known as the five
m's of management because of there initials which is 'M'.

3. Analysis of five M's in managment
• (1) Money: money is the most critical and all purpose resource
because it is used to acquire or hire other resources. In organization ,
money is employed to generate more money in the form of profits or
surplus. A business firm or enterprise requires money in the form of
fixed capital and working capital.
• (2) Manpower : manpower refers to the managerial and non-
managerial personnel employed in an organization.Other resources
cannot act by themselves and have to be utilised by human beings.
Therefore ,human resources mobilize, allocate and utilize the physical
and financial resources of an organization.

4. Analysis of five M's in managment
• (3) Materials : materials represent the physical raw materials and
intermediate products (semi-finished goods ) which are converted
and/or assembled into finished products with the help of certain
processes and technology.
• (4) Machinery: machines are the equipment used to process the
materials into finished or semi-finished products. Employment of
modern machinery helps to reduce costs and to improve the quality of
output.technology has therefore become an important ingredient in
the efficient management of organizations.

5. Analysis of five M's in managment
• (5) Methods: methods refer to the normal and prescribed ways of
doing things various operations are performed according to certain
systems and procedures. Use of right methods helps to increase
efficiency of operations and contributes to effective management.
• In nutshell, Management must establish input goals, process goals
and output goals with regard to the deployment of all the five M's.)