Management and its features:
(A) Meaning:
The word management is derived from the Latin word ‘manus’ which means ‘hands. It means management is handling some activity. Many thinkers said that management means a fine consideration of co-ordinating and controlling the work either from direct individual or from a group.
(B) Definitions:
Some definitions of management given by different management thinkers as follows:
1. “Management traditionally can be defined as “an art of getting things done through others. ” – Mary Parker Follet 2. “To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control”. – Henry Fayol 3. “Management is co-ordination of resources through the process of planning, organizing, directing and controlling in order to attain stated objectives.” – F.W. Taylor
Following are the characteristics features of management:
(i) Managements is Dynamic : Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.
(ii) Management is Intangible : Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.
(iii) Management is a Social Process : Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.
(iv) Management is a Continuous Process : Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.
(v) Management is Different from Ownership : In an organization, management is different from ownership. Owners contribute capital which is taken care of by efficient and paid managers.
(vi) Management is an Inborn Quality : Management in the older days, was considered to be an inborn quality. But with the inception of various business schools, management is a quality which can be developed if a person has the interest and perseverance.
(vii) Management is Situational: Management helps to take decisions and also to handle specific situation. The decisions are based on the principles, theories and techniques. They are applicable in certain situation only.
(viii) Management is Goal Orientated : Every business organization either small, medium or large, profit making or non-profit making, Governmental or NGOs have their own goals. When the organization achieves its desired goals, it is called success of that organisation. This success depends on proper management of all available resources. A manager takes lots of efforts to achieve these goals. So management is goal oriented.
(ix) Management is Universal : Management principles and theories are equally applicable every where and in every field like business, profession, hospital, education, politics, government administration social activities. These principles are the guidelines to the manager. They are flexible and capable of adaptation to every type of organization.
(x) Management is Group Activity : Management is defined as “getting work done through others” or “with the people in formally organized groups”. The tasks set by the organization is complied by employees, all levels of managers and even with the help of outside parties.
