What is Management?

-

WHAT IS MANAGEMENT?


The term management is defined as an essential part of any goal oriented activity. Every organisation requires planning of activities, organisation of resources, establishment of communication system, leading and motivation of people, and control of operations for the realization of its goals.


PROCESS OF MANAGEMENT
 
The elements of management process of management are stated as below:-
(i) Planning:- It means determining the objectives of the unit or activity It involves deciding in advance what is to be done, how and when.
(ii) Organising:- It refers to identification of activities to be carried out, grouping of similar activities and creation of departments.
(iii) Staffing:- It involves manpower planning employment of personnel and their trainings. 
(iv) Directing:- It includes communication with subordinates, providing them leadership and also motivating them.
(v) Controlling:- It refers to comparing the actual performance with the plans or standards. Corrective steps are taken when the actual performance is not upto the mark.


FEATURES OF MANAGEMENT

As a process management has two broad features:-
(i) Management is a continuous process:- It does not stop anywhere. When a manager reaches the last step i.e. control, his job does not end here. Actually he will again start with planning on the basis of his past observations and experience and his projection about the future.
(ii) The functions of management are inter-dependent and inter-related:- Every manager has to perform all the functions of management. Every manager has to perform these functions simultaneously to achieve the objectives of his unit.








 

Comments

Post a Comment

Popular posts from this blog

Economic problem

-
Image
ECONOMY AND ECONOMIC PROBLEM WHAT IS AN ECONOMY? MEANING OF AN ECONOMY:- In economics the world economics refers to the production activities of a well defined area or a region. It may be a village, a district, a city, a country or the whole world. For example when we refer to the Indian economy, we actually refer to the whole collection of farms, factories, shops, offices, banks, colleges, theaters, TV channels, and many more. Production activities are carried out by the people to earn livelihood. The earnings are in the form of wages, rent, interests and profits. On the basis of above description, economy can be defined as follows: Economy means the whole collection of production units operating in  a defined area or region by which people of that area get their living. FUNCTIONING OF AN ECONOMY An individual needs a large number of goods and services to survive and enjoy life. No individual can ever produce on his own all what he needs. He can ever prod...
Read more

Introduction to economics

-
Image
INTRODUCTION TO ECONOMICS Economics is a social    science which studies the way the society chooses to use its limited resources to produce goods and services and disturb them among people. It is a science that analyses the choice making economic behavior. Is the analysis limited to the behavior of an individual or is it extended to the country as a whole? Economics studies both. It analyses the behavior of an individual under the branch of economics called ''microeconomics'' The behavior of the society as a whole is analysed under the branch ''macroeconomics''.        MICROECONOMICS AND MACROECONOMICS Study of economics is traditionally divided into microeconomics and macroeconomics. The terms ''micro'' and ''macro'' come from the Greek words meaning ''small'' and ''large''. MICROECONOMICS   Microeconomics studies the behavior of individual economic units...
Read more

TYPES OF COMMERCE ACTIVITIES

-
TYPES OF COMMERCE ACTIVITIES  Numerous activities are necessary to remove the obstacles or hindrances in the way of exchange of goods and services. Each group of activities undertaken to remove a particular obstacle takes the form of the branch of commerce. The branches of commerce can be classified into two broad categories viz (i) Trade , and (ii) Services which facilitate trade and industry.  TRADE  Trade refers to the sale, transfer or exchange of goods and services. It constitutes the central activity around which the services like banking, transportation, insurance, packaging, warehousing, and advertising cluster. Trade is actual purchase and sale of goods in a market.  Trade may be classified into following two broad categories:- (i) INTERNAL OR HOME TRADE :- It consists of buying and selling of goods within the boundaries of country and the payment for the same is made in national currency either directly or through banking system. Internal tra...
Read more