Define management. State any five characteristics of management.
Answers
Answer:
Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type, structure and size. It is an act of creating and maintaining such a business environment wherein the members of the organization can work together, and achieve business objectives efficiently and effectively.
Explanation:
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Answer:
The organization and coordination of the activities of a business in order to achieve defined objectives. ... Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.
Explanation:
the characteristics of management are
1.Universal: All the organizations, whether it is profit-making or not, they require management, for managing their activities. Hence it is universal in nature.
2.Goal-Oriented: Every organization is set up with a predetermined objective and management helps in reaching those goals timely, and smoothly.
3.Continuous Process: It is an ongoing process which tends to persist as long as the organization exists. It is required in every sphere of the organization whether it is production, human resource, finance or marketing.
4.Multi-dimensional: Management is not confined to the administration of people only, but it also manages work, processes and operations, which makes it a multi-disciplinary activity.
Group activity: An organization consists of various members who have different needs, expectations and beliefs. Every person joins the organization with a different motive, but after becoming a part of the organization they work for achieving the same goal. It requires supervision, teamwork and coordination, and in this way, management comes into the picture.
5.Dynamic function: An organization exists in a business environment that has various factors like social, political, legal, technological and economic. A slight change in any of these factors will affect the organization’s growth and performance. So, to overcome these changes management formulates strategies and implements them.
6.Intangible force: Management can neither be seen nor touched but one can feel its existence, in the way the organization functions.