what is management ? Explain its importance
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Management is the process of dealing with or controlling things or people.
Or you should say..
Management is the administration of an organization, whether it is a business, a not-for-profit organization, or government body.
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Or you should say..
Management is the administration of an organization, whether it is a business, a not-for-profit organization, or government body.
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Management is easy to understand but difficult to define in a universally acceptable way. The term Management can be, and often is used in different ways. At times, it is referred to the process, followed to achieve organizational goals (a process).
Management is a continuous process because an organization goes on perpetually and it needs solutions to problems on a continuing basis. A process has a beginning and an end, and management begins with planning and ends with control and restarts with planning. It is a social process because it is managing by people (employees and managers) for the people (customers) and of the people (investors and society at large).
It is a unique process because it deals with group activities; it is integrative in nature as it meshes different resources in a coordinated manner; and intangible in appearance (since presence of management is felt through performance only).
Management is not a profession like accounting, law or medicine, which are thousands of years older to management, because to be a manager no qualification is essential, there is an apex body — All India Management Association — but its membership is not mandatory.
Yet, management is moving towards becoming a profession as management education is expanding and firms demand managers who are thoroughly professional. With liberalisation, globalisation and privatisation demand for professional managers is bound to grow further.
Management does not work in vacuum. It has to face the internal (controllable) and external (non-controllable) environment. Internal environment consists of employees, processes and systems. External environment comprises STEEPLE (Social, technological, economic, ecological, political, legal and ethical environments).
Internal environment indicates strengths and weaknesses and external environment indicates opportunities and threats. Management tries to convert threats into opportunities and weaknesses into strengths; but at times changes itself according to environment.
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Management is a continuous process because an organization goes on perpetually and it needs solutions to problems on a continuing basis. A process has a beginning and an end, and management begins with planning and ends with control and restarts with planning. It is a social process because it is managing by people (employees and managers) for the people (customers) and of the people (investors and society at large).
It is a unique process because it deals with group activities; it is integrative in nature as it meshes different resources in a coordinated manner; and intangible in appearance (since presence of management is felt through performance only).
Management is not a profession like accounting, law or medicine, which are thousands of years older to management, because to be a manager no qualification is essential, there is an apex body — All India Management Association — but its membership is not mandatory.
Yet, management is moving towards becoming a profession as management education is expanding and firms demand managers who are thoroughly professional. With liberalisation, globalisation and privatisation demand for professional managers is bound to grow further.
Management does not work in vacuum. It has to face the internal (controllable) and external (non-controllable) environment. Internal environment consists of employees, processes and systems. External environment comprises STEEPLE (Social, technological, economic, ecological, political, legal and ethical environments).
Internal environment indicates strengths and weaknesses and external environment indicates opportunities and threats. Management tries to convert threats into opportunities and weaknesses into strengths; but at times changes itself according to environment.
Hope it helps u.....
Pls mark it as brainliest......
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