Discuss five characteristics of a basic system in business management?
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Answer:
Our definition of a system suggests some characteristics that are present in all systems: organization (order), interaction, interdependence, integration and a central objective. Organization implies structure and order. It is the arrangement of components that helps to achieve objectives.
Answer:
Characteristics of Management:
1. Management is an on-going activity primarily concerned with the most efficient employment of resources to produce results. If it is to stand any chance at accomplishing objectives, organizations must apply the basic principles of having a goal, developing an organizational structure and having firm control of all its resources, effectively combining them to achieve the set goals.
This is the function of management, given the nature of business as an on-going activity, management too never ceases, continually directing and combining men, processes and materials to create products and meet targets.
2. Management is ‘an unseen hand that guides an organization towards its targets’. The duty of management is to co-ordinate and controls the activities of sometimes large numbers of people.Ultimately, the result of management’s tireless efforts reflects in the effectiveness or otherwise of the people and resources put to use. Management acts as a force that coordinates and brings order to the combination of man, resource and materials, skilfully directing like a rider on a horse, the organization to goals.
3. Given this unique task of management, it combines knowledge from several fields to effectively assert control and order in any organization. Managers need a wide range of skills to carry out their duties, such as knowledge in the resources and materials used by the organization to ensure their most productive dispensation, knowledge of the nature of the human psychology, ways to motivate and direct workers to ensure their most effective output and knowledge of machines and processes to determine the most cost effective and ideal way to produce. Thus, management is a combination of knowledge from different areas, skilfully blended and tailored to fit the specific needs of any organization.
4. Management is universal. No matter the company, line of business or size, every organization requires some form of management, to coordinate activities, combine and transform materials into products and meet targets.This makes management perhaps the most important part of any organization. At every level and in every line of business management is essential to ensure a maximum return on investments and productivity.
5. Management is aimed at an objective. As every organization has targets, both immediate and long term, management is about stimulating resources; human and materials, into the most effective processes and direction that will ultimately lead an organization to its goals.
Explanation:
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