Managing is one of the most important activities in human life. To achieve goals that could not be achieved individually, people began to form groups. Management has become essential to ensure the coordination of individual efforts. Management applies to all types of organizations and to managers at all organizational levels.
Management principles are now used not just for business management, but in all walks of life, namely governmental, military, social and educational institutions. Essentially, management is the same process in all forms of organization. But it can vary greatly in complexity with size and level of organization. Management is the vital element of any organization.
George R. Terry: “Management is a process that consists of planning, organizing, acting and controlling, carried out to determine and achieve objectives through the use of people and resources”.
What is Management?
Management is the act of bringing people together to achieve desired goals and objectives using available resources efficiently and effectively. Management comprises the planning, organization, personnel, leadership, or direction and control of an organization (a group of one or more persons or entities) or effort for the purpose of achieving a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources.
Since organizations can be seen as systems, management can also be defined as human action, including design, to facilitate the production of useful results from a system. This view opens up the opportunity to 'manage' oneself, a prerequisite for trying to manage others.
Management is a group activity: - Management is an essential part of group activity. As no individual can satisfy all his desires alone, he joins with his fellow man and works in an organized group to achieve what he cannot achieve individually.
Management is objective-oriented: - Management aims to achieve economic and social objectives. It exists to achieve some defined goals or objectives. The group's efforts in management are always directed towards the achievement of some predetermined goals.
Management is a factor of production: - Management is an end in itself, but a means to achieve the group's objectives. Just as land, labor and capital are factors of production and are essential for the production of goods and services.
Management is universal: - Management is applicable in all types of organization. Whenever there is human activity, there is management. The basic principles of management are universally applicable and can be applied in all organizations, whether business, social, religious, cultural, sporting, educational, political or military.
Administration is needed at all levels of the organization: - Another important characteristic of administration is that it is needed at all levels of the organization, e.g. upper level, middle level and supervisory level. The only difference is the nature of the task and the scope of authority.
Management is a distinct process: - Management is a distinct process undertaken to determine and achieve a stated objective through the use of human beings and other resources. It is different from activities, techniques and procedures.
Management is a social process: - Management is getting things through others. This involves dealing with people. The efforts of human beings must be directed, coordinated and regulated by management to achieve the desired results.
Management is a system of authority: - Since management is a process of directing men to carry out a task, the authority to carry out the work of others is implicit in the whole concept of management. Management cannot act in the absence of authority.
Management is a dynamic function: - Management is a dynamic function and must be performed continuously. It is constantly involved in shaping the company in an overcharged business environment.
Nature and management characteristics:
- Must be stable.
- It should be applicable to all types of organizations.
- It's transparent.
- Your approaches should be clear and goal-oriented.
- It must be simple but effective.
- It must be sensitive to many external elements such as economic, technological, social, political and ethical factors that affect areas of operation.
- It must have well-defined objectives and effective means to achieve the objectives.
- Must have good planning, organizing, staffing, directing and controlling functions.
- It must provide a conductive working atmosphere.
Management Scope
Management can be applied in any field of business and in life. Its scope ranges from self-management to domestic management and the management of large offices, industry, government organization, etc.
Functional areas of management
The various functional areas of management are:- Production management
- Marketing management
- Financial management
- Personnel ( People management )
Production management
Production management Means of creating utilities converting raw material into final product by various scientific methods and regulations. It is a very important field of management. Several sub-areas of the production department are as follows:
Layout and Location Plant: This area deals with the design of the plant layout, decides on the plant location for various products and supply of various plant utilities.
Production planning: Managers need to plan various production and production policies methods.
Material Management: This area deals with the purchase, storage, issue and control of material needed by the production department.
Research and Development: This area deals with the research and development activities of the manufacturing department. Refining existing product lines or developing a new product are the main activities.
Quality Controlquality: The control department works for the production of quality products by making several tests that guarantee customer satisfaction.
Marketing management
Marketing management involves distributing the product to buyers. It may need a series of steps. The sub-areas are as follows:
Advertising: This area deals with product advertising, introducing new products to the market through various means and encouraging the customer to buy the products.
Sales Management: Sales deals with pricing, actual transfer of products to the customer after completing certain formalities and after-sales services.
Market research: Involves collecting data related to product demand and performance by market research and analysis.
Financial and Accounting Management:
Financial and accounting management deals with managerial activities related to the acquisition and use of funds for business purposes. Its subareas are as follows:
Financial Accounting: Relates to keeping records of various financial transactions, their classification and preparation of financial statements to show the organization's financial position.
Management accounting: deals with the analysis and interpretation of financial records so that management may make certain decisions about investment plans, returns to investors and dividend policy.
Taxation: This area deals with various direct and indirect taxes that an organization has to pay. Costing: Costing deals with recording costs, classifying them, analyzing and controlling costs.
People management
People management is the management phase that deals with the effective use and control of manpower. The following are the subareas of People management:
Personnel Planning: This is about preparing the inventory of available and actual labor requirements of workers in the organization.
Recruitment and selection: deals with the hiring and hiring of human beings for different positions as needed.
Training and development: Training and development is about the process of making the more efficient and effective employees by organizing training programs. It helps to form a team of competent employees who work for the growth of the organization.
Wage Administration: Deals with employment, merit ranking of jobs, and setting wages and employee incentive policy.
Industrial relationship: deals with the maintenance of the general employee relationship, providing good working conditions and welfare services to employees.
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