NATURE AND SIGNIFICANCE OF MANAGEMENT

-SHUBHAM MISHRA

CONTENT INTRODUCTION.

MEANING.

DEFINITION.

PLANNING.

FEATURES OF MANAGEMENT.

Contd.

OBJECTIVES OF MANAGEMENT.

IMPORTANCE OF MANAGAMENT.

LEVELS OF MANAGEMENTS.

MANAGEMENT AS AN ART, SCIENCE OR PROFESSION.

INTRODUCTION

Management is the key word of today.Management also played vital role in

ancient times. Modern world also cannot work without management.

GROUP ACTIVITY = MANAGEMENT

MEANING

The word management is derived from the Latin word ‘MANUS’ which means hands.

It means management is handling some activity. The modern aspect of management is exhaustive that it not only includes handling of any activity but many others aspects also.

DEFINITIONS

HENRY FAYOL“ To manage is to forecast , to plan , to

organize, to command , to co-ordinate and to control.”

PLANNINGPlanning is the key word for

Management.Planning is said as “HEART OF

MANAGEMENT” .

FEATURES OF MANAGEMENT

Management is goal-oriented.Management is group activity.Management is universal.Management is continuous

process.Management is intangible.

OBJECTIVES OF MANAGEMENT

To earn profit for business.To get maximum results with

minimum efforts.To co-ordinate the various activities

departments.To interact with outsiders. To fulfill social responsibility.

IMPORTANCE OF MANAGEMENT

Helps to achieve goals.Ensures optimum use of resources.Motivates people.Establishes a sound organization.Helps in the economic-development.

LEVELS OF MANAGEMENT

Management is divided into three levels.

1. Top Level. 2. Middle Level. 3. Lower Level.

TOP LEVEL MANAGEMENT

Decision of Objectives.Framing Plan and Policies.Creation of positions for doing

activities.Appointing middle level employees.

MIDDLE MANAGEMENT

To Link between top and lower management.

co-ordinate with top level managers for activities.

To appoint lower level staff.To understand policies of top level

managers.

LOWER MANAGEMENT

To work according to the instructions of middle management.

To conduct quality check of the product .

To check service of the product time to time.

To assign works to the sub-ordinates.

WHAT IS MANAGEMENT ?

ART SCIENCE

PROFESSION

MANAGEMENT AND ART

Personal skills.Creativity.Regular Practices.Personal Abilities.

MANAGEMENT AND SCIENCE

Systematic body of knowledge.Use of scientific methods.Cause and Effect relationships.Universality of Principles.

MANAGEMENT AND PROFESSION

Formal Education.Code of Conduct.Restricted Entry.Registration.Expertise.

CONCLUSION

From the above data’s of art science or profession it is concluded that the management is the mixture of all three.

All three are the components of MANAGEMENT.