define management and explain the characteristics of management?
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management is the administration of an organization, whether it is a business, a not-for-profit organization, or government body.
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Management is defined as the process of planning, organizing, directing and controlling to accomplish organizational objectives through the coordinated use of human and material resources. It is the process by which human and non-human resources are coordinated to accomplish a set of objectives It is the process of efficiently getting activities completed with and through other people.
The essential characteristics of management are as follows –
(i) Management is Universal– Management is found in every walk of life, where the economical and intelligent application of scarce resources are involved. The principles and techniques of management are universally applicable to all group activities performed at any level of organization.
(ii) Management is Decision Making– Managers arc decision makers; e.g. the finance manager takes .decision about how much funds will be required, how to collect funds, how to distribute profit etc. A marketing manager decides about how to market, when to market, where to market etc. Such countless number of decisions based upon data and analysis constitute management.
(iii) Management is a Distinct Process– management is a distinct process which is formed of planning, organizing, staffing, directing and controlling.
The essential characteristics of management are as follows –
(i) Management is Universal– Management is found in every walk of life, where the economical and intelligent application of scarce resources are involved. The principles and techniques of management are universally applicable to all group activities performed at any level of organization.
(ii) Management is Decision Making– Managers arc decision makers; e.g. the finance manager takes .decision about how much funds will be required, how to collect funds, how to distribute profit etc. A marketing manager decides about how to market, when to market, where to market etc. Such countless number of decisions based upon data and analysis constitute management.
(iii) Management is a Distinct Process– management is a distinct process which is formed of planning, organizing, staffing, directing and controlling.
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