Question

meaning and objectives of management characteristics of management?​

Answer 1

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The core meaning of management is the act of managing human, technical and financial resources. The person who performs these tasks is called the manager, It can be considered as an organized group (team) effort to achieve the set goals and targets of the organization.

Answer 2

Answer:

Meaning:

The process of dealing with or controlling things or people.

OR

Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type, structure and size.

Objectives:

1. Getting maximum results with minimum efforts.

2. To secure maximum outputs with minimum efforts & resources.

3. Maximum prosperity for employer & employees.

4.  Smooth and coordinated functioning of the enterprise.

Characteristics:

Following are the characteristics of management:

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.

5. 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.

6. 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.

7. Intangible force: Management can neither be seen nor touched but one can feel its existence, in the way the organization functions.

Explanation:

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