Management is required in all kinds of organisations whether they are manufacturing computers or handlooms, trading in consumer goods or providing saloon services and even in non-business organisations. No matter what the organisation is or what its goals might be, they all have something in common – management and managers. Successful organisations achieve their goals by following a deliberate process called ‘management. Management consists of a series of interrelated functions that are performed by all managers. Let’s understand the concept of management.
Some of the common definition of management given by famous writers and thinkers are:
So Management can be defined as a process of getting things done with the aim of achieving goals effectively and efficiently. Some important terms in this definition are:
it is important for management to achieve goals (effectiveness) with minimum resources i.e., as efficiently as possible while maintaining a balance between effectiveness and efficiency.
Basic characteristics of management are:
The task of management is to make people work towards achieving the organisation’s goals, by making their strengths effective and their weaknesses irrelevant.
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