NATURE AND
CONCEPT OF
MANAGEMENT
BY:HARSHIT GOYAL , RANK-132 ST
B.B.A. (GEN.),GROUP-B,1 Yr . TO:- dr. HERAMB NAYAK(Faculty, M.S.I.Principles of Management)
ACKNOWLEDGEMENT
I woul d li ke to express my special thank s of gr atitude to my teacher dr . H ERAM B N AYAK who gave me th e gold en oppor tuni ty to do thi s wonder ful project on the topic concept and natur e of management, which also helped me in doin g a lot of Research and i came to kn ow about so many new thi ngs I am reall y thankful to them. Secondl y I woul d al so like to thank my parents and fr iends who helped me a lot i n f inal izing this proj ect withi n th e li mited time fr ame.
H ARSH I T GOYAL (RANK – 132, BB A ,GEN.)
INDEX
INTRODUCTION Through this assignment, the concept and nature of management has been materialised. It includes the various attributes , parameters and Approaches used to d escribe the nature and concept of management.
It is important to understand the meaning of management before learning about its nature and various concepts. Humans in order to satisfy their needs and wants have to perform various activities. At times these tasks are way too big to be handled by a single individual, so humans need to work with other humans to achieve his/her goal, and this requires management i.e. co-ordinating various individuals to achieve a collective goal effectively and efficiently.
MEANING The term management conveys different meanings depending upon the context in which it is used. Management in business and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization or initiative to accomplish a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management is also an academic discipline, a social science whose object of study is the social organization.
CONCEPT OF MANAGEMENT CONCEPT OF MANAGEMENT CAN BE EASILY UNDERSTOOD BY LOOKING AT IT IN THESE DIFFERENT CONTEXTS
MANAGEMENT AS AN ECONOMIC RESOURCE
MANAGEMENT AS A TEAM
MANAGEMENT AS AN ACADEMIC DESCIPLINE MANAGEMENT AS A PROCESS
MANAGEMENT AS AN ECONOMIC RESOURSE Like land, labour and entrepreneurship, management is a vital factor of production. Managing the economic resources is the major type of management in any context. Utilising the resources to the maximum capacity is the prime job of a manager. The resources being :-
o
Manpower o
Materials
o o
Money
Machinery
o
Methods
MANAGEMENT AS A TEAM This is also a very important job of the manager The manager co-ordinates all the different departments and the persons within those departments to:get
the job done on time so that no
department suffers due to the incompetence of another department. To
insure that the job is given to the one best suited for it. To
insure discipline and harmony
MANAGEMENT AS AN ACADEMIC DISCIPLINE
An academic discipline or field of study is a branch of knowledge that is taught and researched as part of higher education. And management qualifies on all these features Management has become a very widely studied subject, numerous universities and institutes offer bachelor and graduate degrees in the subject.
MANAGEMENT AS A PROCESS Perhaps the best way to describe management is in terms of what managers do. It involves organising, directing and controlling human efforts to accomplish pre - determined goals as a process management refers to a series of interrelated elements or functions. these are:a)
Defining the aims or objectives of the organisation
b)
Formulating policies, procedures,
programmes, etc. to obtain these objectives efficiently and economically.
c) Bringing together men, material, money, machinery, and other factors of production.