I .. Management is a process: Management is that important process the principal elements of which are planning, implementing and control. This process. continues till the objectives set by administration are actually achieved. Those who perform this process are technically known as 'Managers' .
2. Management is an endeavor to achieve the pre-determined objectives. Every managerial activity. has certain objectives, which may be express or implied. The objectives are determined by administration.
3. Group Activity: For the achievement of the enterprisegoals, management plans, organises, co-ordinates, directs and controls the group-efforts. Management is always concerned with the group-efforts and not individual efforts.
3. Management aims at reaping rich results in economic terms. Management carries with it a major responsibility for creative action. It is no longer considered as passive or a mere adjustment of resources. It is expected of the management to bring into being the desired results. Rational utilisation of availabl~ resources to maximise the profit is the economic function of a Manager.
3. Management also implies skill and experience in getting things done through people. Getting the suitable type of people to execute the operations is the significant aspect of management.
3. Management is a science as also an art: As there are defmite principles of management, it is an art. Further, it is also a science because by the application of these principles predetermined objectives can be achieved.
3. Manageme~t is a profession: Management is also gradually becoming professiot\ because like other recognised professions there are established principles of management and their application in practice is becoming a must.
3. The principles of Management are of universal application: They are not the monopoly of industry alone, but can be applied in any sphere where group effort is required.
3. Separate Identity: Although management is a scientific method of getting things done through and with the people, yet the identity of the 'Thinkers' is quite different from the identity of the 'Doers'.
10.Management is needed at different levels of organisation, - e.g., top-level middle level and supervisory level.
II. Need of· Organisation: Management uses organisation for achieving the objectives determined by administration.2. Management is an endeavor to achieve the pre-determined objectives. Every managerial activity. has certain objectives, which may be express or implied. The objectives are determined by administration.
3. Group Activity: For the achievement of the enterprisegoals, management plans, organises, co-ordinates, directs and controls the group-efforts. Management is always concerned with the group-efforts and not individual efforts.
3. Management aims at reaping rich results in economic terms. Management carries with it a major responsibility for creative action. It is no longer considered as passive or a mere adjustment of resources. It is expected of the management to bring into being the desired results. Rational utilisation of availabl~ resources to maximise the profit is the economic function of a Manager.
3. Management also implies skill and experience in getting things done through people. Getting the suitable type of people to execute the operations is the significant aspect of management.
3. Management is a science as also an art: As there are defmite principles of management, it is an art. Further, it is also a science because by the application of these principles predetermined objectives can be achieved.
3. Manageme~t is a profession: Management is also gradually becoming professiot\ because like other recognised professions there are established principles of management and their application in practice is becoming a must.
3. The principles of Management are of universal application: They are not the monopoly of industry alone, but can be applied in any sphere where group effort is required.
3. Separate Identity: Although management is a scientific method of getting things done through and with the people, yet the identity of the 'Thinkers' is quite different from the identity of the 'Doers'.
10.Management is needed at different levels of organisation, - e.g., top-level middle level and supervisory level.
] 2. Managers need not to be owners: It is not necessary that those who manage may also be the owners of the enterprise. In all modem companies Labour, Management and Capital are different entities.
]3. Principles of Management are dynamic and not static:
Management not only adapts itself according to social changes, but also introduces innovation in methodology. That is why 'management of change' is the slogan of the day.
14.Management is a system of authority: Since
management is a process of directing m~n to perform a task, authority to exact the work from others is implied in the very concept of management
15. Management is also characterised by the quality of leadership. According to R.c. Davis, 'management is the function of executive leadership everywhere.
15. Decision-making is the primary part of managerial process: Management implies making 'decisions' regarding the organisation and operation of business in its different dimensions. Really speaking, decisions are the key to executive performance.