Management: an Introduction

    Management: an Introduction

Different experts have defined management on the basis of its features.  Some experts defined management as an ‘art of getting things done’, while others give more importance to its function oriented form.  In the same manner, same experts think management is related to ‘decision making ‘while others are of the opinion that ‘productivity and efficiency’ are its basis.  Following are the main definition of the management.

According to HAROLD KOONTZ,       ”Management is the art of getting things done through others and with formally organized groups”

WHAT IS MANAGEMENT????

     Management is the process conducting a set of functions planning, organizing, staffing, directing, controlling to get the work done efficient and effective manner. 

Nature and Characteristics of management

·         It is a group effort.

·         It is goal oriented process.

·         It has a distinct entity.

·         It is an intangible force.

·         It is a process.

·         It is an inborn and acquired ability.

·         It is a universal activity.

·         It is multidisciplinary.

·         It is a social science.

·         It is a system.

·         It is a dynamic system.

·         It involves social responsibility.

·         It is a profession.

·         It is a science or it is an art also.

Significance of the management

In the ancient times business was dime on a small scale and management had no special importance.  Now business is done on a big scale and consequently, various, complexities confront us.  The need of management has been felt in view of these complexities and their solution.  Now management has established itself as an art and with its help minimum effort can result in maximum prosperity.  In this regard the views of some modern management experts are given bellows:

According to ducker, management is a dynamic and life giving element of every business. In its absence the means of production remain merely the means and can never be the producers.

1.       ACHIEVING PRE-DETERMINED OBJECTIVES:  each organization is established with certain aims.  Management is the only medium and power which can help in the successful attainment of these aims.  A manager with the help of his expertise and cleverness makes an assessment of the future events.  He makes plans, creates an organization, distributers work, grants, and requisite authority, directs the employees and controls them.  By a critical assessment or appraisal he tries to find out deviation and finally by his corrective action makes the impossible look simple.

2.       ENSURING MAXIMUM UTILIZATION OF RESOURCES OF THE PRODUCTION:  management is that power which by establishing an effective coordination between the various resources of production makes an optimum use of these resources.  It is therefore clear that the most efficient use of the limited resources is the key to the successful business.  This fact can be converted into reality with the help of the management.

3.       OVERCOMING COMPETITION:  these days business is not localized but it has assumed national or even international dimensions, competition is increasing with the widening of area and larger competition with the widening of the area and larger dimension of the business.  A modern producer faces competition not only from a local producer or competition at the national level but international competition is also getting sharper. Only an efficient and clever manager can make it a reality and save the reputation of an organization.

4.       ENSURING INTEGRATION WITH CHANGING ENVIRONMENT: management is not only limited to various internal functions of an organization but it has to compromise with the outer atmosphere also.  On the one hand technical experts are devising new ways of production and while on the other hand progressive organizations are applying modern marketing techniques. With the help of efficient and effective management a co ordination between the new and prevalent work system and methods can be established to save the reputation of an organization.

5.       ENSURING SMOOTH RUNNING OF LARGE SCALE BUSINESS: keeping in view the profits of large scale production will also be required on a large scale.  Apart from this, business shall have to face various legal formalities.  To perform these functions efficiently and in a controlled manner, the need of an efficient manager is paramount.  Therefore, without an efficient manager smooth running of large scale business is not possible.

6.       MAINTAINING A SOUND ORGANISATIONAL STRUCTURE: a sound organizational structure is needed for the success of any enterprise.  A sound organizational structure means defining a clear relationship between the superiors and their subordinates.  It has to be decided what work will be done by various persons and what rights and duties they enjoy. It will lead to the creation of a team spirit and keep the work atmosphere clean and healthy.  All the superiors and subordinates will work without any tension. A sound organizational structure can be created by an efficient manager.

7.       ESTABLISHMENT GOOD LABOUR OWNER RELATIONSHIP:  labour and capital are the two main resources of production. The owners invest capital and determine objectives while the labour tries to transform those objectives into reality.  Therefore, existence of a sweet relationship between the two is of paramount importance. There was a time when there were no labour unions and the owners thought it fit to exploit the labour to the maximum possible extent.  Now the labour unions exist and they are sufficiently organized to expert pressure on the owners to get theirs demands conceded industrialists too have realized their importance.  It is clear to them that without the efficiency of labour more profits cannot be expected.  The efficiency of the labour can be increased only when their problems are effectively solved.  This can be possible only through management.  An efficient manager, with the help of the knowledge and experience understand the feelings of labour and tries to remove their grievances.  He makes arrangement for their training to increase their efficiency. 

8.       GIVING IMPORTANCE TO RESEARCH AND INVESTIGATION:  a recent research has brought out the fact that only those companies or business enterprises which are constantly taking interest in research activities are developing fast.  In the context of business, research and investigation mean finding out new products and new markets for the extensions of the business field, new methods of the distribution and adaption the use of new techniques to solve the financial problems and using new techniques in the field of the communication.  Efficient managers invariably establish resource and investigation department to achieve this important purpose.

9.       FULFILLING THE SOCIAL RESPONSIBILITY: A business establishment starts its activities in society prospers and reaches the climax of development in the same social surroundings.  Thus no organization can remain aloof from society and yet survive.  That is why every enterprise is considered as an integral part of the society.  When an enterprise is so much indebted to society it should also realize its responsibilities towards society.  The social responsibilities of a business organization include ensuring the safety of the capital and sufficient profit, proper remuneration and work condition for the employees, make available to the consumers good of good quality at the right time and proper prices, making available opportunity of employment to the people and making efforts to raise their standard of living.

10.   AIMING AT INCREASED PROFITS:  in order to increase profits of any organization it is basic principle either to increase the sales revenue or reduce costs.  Increasing the sales revenue is beyond the controls of an organization and it can certainly be accomplished with the help of good quality raw material modern machinery and trained employee.