Management

Different scholars gave different meaning to the term "Management" depending upon the context they are used. Some scholars believe that the management is the force that runs and responsible for the success and failure of the business while some believes that it is the art of getting work done through others. In other words, management is organization and coordination of the activities of a business in order to achieve defined objectives.

Theo Heimann in his popular book 'Professional Management- Theory and Practice' has used the word 'management' in three different senses:

1) Management as a Noun: refers to a Group of Managers.

2) Management as a Process: refers to the Functions of Management i.e. Planning, Organising, Directing, Controlling, etc.

3) Management as a Discipline: refers to the Subject of Management.

Definitions

To manage is to forecast and plan, to organize, to command, to coordinate and to control. - Henry Fayol

"Management is the art of getting things done through and with people in formally organized groups."-  Harold Koontz

Features of Management

1)    Management is a process- Management is the process of planning, organizing, coordinating and controlling. The main purpose of the management process is to make optimum utilization of scarce resources for the benefit of the organization and the community.

2)    Art as well as Science- Management contains a systematic body of theoretical knowledge and also involves the practical application of such knowledge. Thus management is an art as well as science.

3)    Human Activity- Human activities are planned, organized, directed, coordinated and controlled under management.

4)    Group Efforts- Management is always concerned with the group efforts and not individual efforts because it is easier to attain the predetermined objectives by group efforts rather than individual efforts.

5)    Universal- Basic principles of management are universal in character. They apply more or less in every situation.

6)    Multidisciplinary Subject- The discipline of management draws upon many other disciplines such as economics, sociology, psychology, anthropology etc.

7)    Continuous Process- Management is a dynamic and a continuous process. The process of management continues to operate till there is organized action for the achievement of group goals.

8)    Required at all Levels of the Organization- Management is required at all the level of organization whether it is top or middle or first line management.

9)    Purposeful- Each managerial activity is oriented towards accomplishment of a specific or pre-determined objective.

10)    Brings Co-ordination in the Work – Every managerial function aims at bringing about a co-ordination in all the aspects of organization.

OBJECTIVES OF MANAGEMENT

At the Enterprise Level	At the Society Level
1)    To achieve maximum results with minimum inputs.	1) Economic growth
2)    To ensure maximum prosperity of employer and employees.	2) To ensure social welfare.
3)    To ensure survival, growth and prestige of the enterprise.	3) Generate employment opportunities.
	4) Maintain healthy industrial relations
	5) Convert challenges into opportunities.

IMPORTANCE OF MANAGEMENT

1)    Helps to attain the pre-determined objectives

2)    Provides coordination and establishes team spirit

3)    Maximum utilization of factor of production.

4)    Helps to overcome competition

5)    Innovation

6)    Solving labor problems

7)    Helps in research and investigation

8)    Increase employment opportunities.