Concept and Meaning of Management
Management is the art of getting things done through others in systematic and effective manner. It is the process of getting things done through others with the help of basic activities like planning, organizing, directing, co-ordinating and controlling. Its main motive is to gain economic objectives of the organization in systematic and effective manner through the effort of subordinates.
According to the F.W Taylor, “The art of knowing, exactly what you mean to do and then seeing that do it in the best and cheapest way.” The term management may be studied from the various angles or senses like as an activity, as a process, as a discipline and as a group.
i. Management as an activity:
The activities of the Managers, like communicating information, decision-making and maintaining interpersonal relation to achieve the goal is management. According to Koontz, “Management is what a manager does”. Management as an activity includes –
1. Informational activities – In the functioning of business enterprise, the manager constantly has to receive and give information orally or in written. A communication link has to be maintained with subordinates as well as superiors for effective functioning of an enterprise.
2. Decisional activities – Practically all types of managerial activities are based on one or the other types of decisions. Therefore, managers are continuously involved in decisions of different kinds since the decision made by one manager becomes the basis of action to be taken by other managers. (E.g. Sales Manager is deciding the media & content of advertising).
3. Inter-personal activities – Management involves achieving goals through people. Therefore, managers have to interact with superiors as well as the sub-ordinates. They must maintain good relations with them. The inter-personal activities include with the sub-ordinates and taking care of the problem. (E.g. Bonuses to be given to the sub-ordinates).
ii. Management as a process:
The Management is the process of converting inputs (4M’s) into outputs (Goods and Services) through series of inter-related functions of an organization Like Planning, organizing, directing, and controlling. According to George R. Terry, “Management is a distinct process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish stated objective by the use of human beings and other resources”. As a process, management consists of three aspects:
1. Management is a social process – Since human factor is most important among the other factors, therefore management is concerned with developing relationship among people. It is the duty of management to make interaction between people – productive and useful for obtaining organizational goals.
2. Management is an integrating process – Management undertakes the job of bringing together human physical and financial resources so as to achieve organizational purpose. Therefore, is an important function to bring harmony between various factors.
3. Management is a continuous process – It is a never-ending process. It is concerned with constantly identifying the problem and solving them by taking adequate steps. It is an on-going process.
iii. Management as a discipline:
Management is a specialized branch of human knowledge, which involves the study of certain principles and practices of basic administration. It specifies certain code of conduct to be followed by the manager & also various methods for managing resources efficiently.
Management as a discipline specifies certain code of conduct for managers & indicates various methods of managing an enterprise. Management is a course of study, which is now formally being taught in the institutes and universities after completing a prescribed course or by obtaining degree or diploma in management, a person can get employment as a manager.
Any branch of knowledge that fulfils following two requirements is known as discipline:
1. There must be scholars & thinkers who communicate relevant knowledge through research and publications.
2. The knowledge should be formally imparted by education and training programmes.
Since management satisfies both these problems, therefore it qualifies to be a discipline. Though it is comparatively a new discipline but it is growing at a faster pace.
iv. Management as a group:
This concept of management represents a team, class or section of people involve in various managerial functions. All the managers from the chief executives to the first line supervisors and their functions collectively are known as function. But in general, it represents a group consisting of board of director, chairman, managing directors, general manager, Branch or department managers.