MANAGEMENT

By
Alankar Trivedi
“Management is the art of getting things done
through and with people.”
 Functions of Management
The following are functions of Management:
• Planning
• Organizing
• Staffing
• Directing
• Controlling
• Planning means “the determination of what is
to be done, how and where it is to be done,
who is to do it, and how the results are to be
evaluated.”

• Organizing refers to the systematic

arrangement of different aspects of the
business operations to achieve the planned
objectives.
• Staffing involves recruitment of people and
training them towards the project.

• In Directing managers determine direction,

and a clear vision for employees to follow, and
help employees understand the role they play
in attaining goals.
• In controlling, managers evaluate how well the
organization is achieving its goals and take
corrective action to improve performance.
 Characteristics of Management
• Management is Goal-oriented:
Management is all about goals. Management
activities are directed towards the attainment
of goals that are pre-planned.
• Management is Dynamic:
Management functions do not have fixed
patterns. It is highly subjective in nature. What
may be right in a particular situation may be
wrong in another.
• Management is a Continuous Process:
Management is about on-going efforts to
improve business processes. wants are
unlimited, managers have to put in their
continuous efforts to satisfy new wants with
the limited resources.
• Management involve Decision-making:
Management involves decisions regarding
various aspects of management. Management
is a decision-making process and the decisions
are involved in all the functions of
management.
• Management is a Profession:
Management is becoming a profession
because there are established principles of
management which are being applied in
practice.
• Management is Innovative:
Management is dynamic and innovative.
Some managers do different things. Others do
things differently. A particular manager need
not repeat the actions of an earlier manager.
 Definition of Management
• Acc. to Louis Boone & David Kurtz- “The use of people
and other resources to accomplish selected aims.”
• Acc.to Koontz & Weihrich- “ the process of designing
and maintaining an environment in which individuals,
working together in groups, efficiently accomplish
selected aims”.
• Mary Parker Follet- “ The act of getting things done
through people”.
• Henry Fayol was the 1st management thinker, to
outline the five functions of carried out by managers.
Nature and Characteristic of Management

Nature of Management-
• Multidisciplinary
• Management is dynamic
• Relative, Not Absolute Principles
• Management as Profession
• Management is Universal
• Management is science or art
 Characteristics of management
• Organized Activities
• Existence of Objectives
• Decision-making
• Relationship among resources
• Working with and through people
 Scope of Management
• Production department - From the start of
purchasing raw materials, to the process of
turning it into a finished good.
• Marketing - In reasearch, marketing, sales,
maintaining brand value.
• Human Resource management - From job
analysis, HR planning, to grievance handling
• Finance - Managing Capital, Investment,
Dividend decisions
• Strategic management - From formulating
policies and strategies, goals, to implementing
and evaluating them.
• Information technology - managing
information, communicating.
 Management is science or art?
• Art entails practical implementation of personal skills and knowledge to
achieve tangible outcome. It is the way of doing specific things.
• The functions of art is to achieve change and to attain desired results.

Major elements of an art are-

• Personal skills
• Practical experience
• Result orientation
• Constant practice aimed at perfection
• In this sense, management is certainly an art as a manager uses his skill,
knowledge and experience in solving various problems, both
complicated and non-complicated that arise in the working of his
enterprise.
• Science may be described as a systematized body of knowledge based
on proper findings and exact principles and is capable of verification.
• It is a reservoir of fundamental truths and its findings apply safely in all
the situations. In this sense, management is a science as it has also
developed some systematized knowledge.
• Like other sciences, management has also developed certain
principles, laws, generalization, which are universal in nature and are
applicable wherever the efforts of the people are to be coordinated.
But management is not as exact science as other physical sciences like
physic, chemistry, biology, astronomy etc.
• The main reason for the inexactness of science of management is that it
deals with the people and it is very difficult to predict their behavior
accurately. In this way, management falls in the area of 'social
sciences'.
• According to American Society of Mechanical
Engineers. "Management is the art and
science of preparing, organizing and directing
human efforts to control the forces and
utilize the material of nature for the benefit
of men.
• Thus, it has now been accepted that
management is an art as well as science. It has
the elements of both arts and science.