Explain any three characteristics of management.
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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.
(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.
accessme173pd1xgq:
management is a dynamic,continuous,integrative process also.
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Answer:
Hey mate here is your answer
Explanation:
- Management is goal oriented
- Management is universal
- Management is a social process
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