Accountancy, asked by khushig2408, 1 month ago

explain the process of management in details​

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Answered by Anonymous
22

Answer:

The substance of management should be identified as a process. A process is something that what a person does in the context of his individual duties and responsibilities assigned by his or her immediate higher authority.

There are twin purposes of the management process :

1. Maximum productivity or profitability.

2. Maximum human welfare and satisfaction.

There are five parts of management as a process:

1. Co-ordination of resources: The manager of an enterprise must effectively coordinate all activities and resources of the organisation, namely, men, machines, materials and money,

the fdur M’s of management.

2. Management is a Process: The manager achieves proper coordination of resources by means of the managerial functions of planning, organising, staffing, directing (or leading and motivating) and controlling.

3. Management is a Purposive Process: It is directed toward the achievement of predetennined goals or objectives. Without an objective, we have no destination to reach or a path to follow to arrive at our destination, i.e., a goal, both management and organisation must be purposive or goal-oriented.

4. Management is a Social Process: It is the art of getting things done through other people.

5. Management is a Cyclical Process: It represents planning-action-control-replanning cycle, i.e., an ongoing process to attain the planned goals.

Explanation:

@Genius

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