Question

Management is what management does. Explain this statement
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Answer 1

Answer:

For example, it is said that management is what management does. Here, management is explained with reference to its basic functions which include planning, organising, coordinating and controlling. Similarly, management is described as a process which involves various elements.

Explanation:

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Answer 2

Answer:

Concept:

Companies and organizations need effective management to achieve business goals. There are different levels of management that aim to organize and coordinate the company's business functions.

Explanation:

Management is the process of planning and organising the resources and activities of a business to achieve specific goals in the most effective and efficient manner possible. Efficiency in management refers to the completion of tasks correctly and at minimal costs. Effectiveness in management relates to the completion of tasks within specific timelines to yield tangible results.

Multi-dimensional- Most management oversees and supervises a company or organisation's service or production cycle. Managers work closely with and provide guidance to the members of their team. A manager considers a staff member both as an individual with diverse needs and as a component of the larger group. To be effective, managers influence their team members to apply their unique strengths toward achieving the organisation's goals.

Dynamic- Management is a dynamic function and evolves and adapts to changes in its environment, whether they are economic, socio-political or technological. For instance, a paper company could see a decline in sales because of the rapid adoption of screens and digital devices. Whether the company can still survive depends on how effectively its management can adapt to new market requirements.

Intangible- Management is not a tangible product, but its presence can change the way an organisation functions. Management consists of ideologies, policies and human interaction. Good management helps improve a company's target achievement ratios, employee gratification levels and overall ease in the company's operation.

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