Authority is the power to get the work done from others and to compel them to work in a certain manner. Characteristic # 1. The sequence of various functions cannot be decided due to complexity of processes. Management is necessarily a human activity as it uses the knowledge and abilities of the individuals involved to manage different business affairs. Share and Recommend. Management is Intangible 2. Management is an important factor of production like. Coordination is the Soul of Management: Characteristics of Management: 5 Short Points, – 12 Different Characteristics: Multidisciplinary, Goal-Oriented, Economic Resource, Dynamic Nature of Principles and a Few Others, Essays, Research Papers and Articles on Business Management. Nature and Characteristics of Farm Management Farm is a firm: As in any business, some resources are used for production in the farm and maximize net revenue from the farm. Management is an all-pervasive activity. Now, Explain each one; Management is goal-oriented: Management is not an end in itself. The most important characteristics may be listed as follows: As has been pointed out by Terry, management is intangible. Management integrates the resources and optimises the output. Management practices in one area can be transferred to other areas. In fact, any person has to must see his personal goals are below the organizational goals and carry out his work. “Management is the art of getting things done through people.”. Coordination is the Soul of Management 21. Management is applied to human groups which work in the society. The functions of management planning, organising, staffing, directing and controlling are performed by all managers simultaneously all the time. Universal: All the organizations, whether it is profit-making or not, they require management, for managing their activities. Wherever there is an organized group of people working towards a common goal, some type of management becomes essential. Henri Fayol has solicited that principle of management applies more or less in every situation. Management is Universal 5. Now, due to the advent of large scale business, the management is entrusted in the hands of professional managers. For example, operation research that emanated during the Second World War to manage war logistics now finds a place in business. It is the scientific method of getting things done through and with the people. Management unites the efforts of different individuals in the organisation towards achieving these goals. Most management concepts are universal. Management is multidisciplinary: Management takes inspiration from disciplines like engineering, sociology, psychology, economics, anthropology etc. An individual manager is most often required to deal with problems of operational nature. Business managers, Industrial managers, Officials of Government organizations, Officers of Education, Hospitals, Army – every Organizational head has to plan, organize, coordinate, control resources under their control to achieve their organizational goals. Management is an Integrative Force: Team work creates synergy and accomplishment of the firm’s objectives by the unified and co-ordinated efforts of all the individuals working for that firm. But the identity of the ‘Thinkers’ is quite different from the identity of the ‘Doers’. Management is a group activity – Since management is essential to undertake any organised activity, one may infer that management is concerned with a group activity. Without the authority it is very difficult to direct and control the resource under their control. An efficient management can make the employees to work efficiently and an inefficient management can break the employees and can bring industrial unrest in the business organization. All Rights Reserved. Managers at different levels possess varying degrees of authority. Management makes sure that work is accomplished effectively and efficiently. The principles and techniques of management are applicable in all the areas whether it is education, industry, military or the government. Management cannot be seen by the naked eyes but its results are well understood to everyone. The essential element of management is that it gets the work done by coordinating the performance of those who actually perform diverse and specific jobs. Management is a Group Activity 7. Divorced from Proprietorship 18. Here’s How to Celebrate Remotely, How Technology Can Help You Manage Your Business During the Pandemic, Why Is Social Media Marketing Necessary for Small Businesses. This makes it universal. It must adopt its changing conditions, so, it is a dynamic system. They have to use resources for the benefit of society as a whole. So, we can say that the management is a distinct process comprising the above functions. The basic principles of management are applicable in business as well as in other organizations. Management is also described as a systemized body of knowledge which consists of well-defined concepts, principles and techniques along with the scope of wide application.
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