It consists of a set of interrelated operations or functions necessary to achieve desired organizational goals. As a scientist, he relies on the existing theory and philosophy of management and develops new knowledge, new principles and new schools of management thought. Clipping is a handy way to collect important slides you want to go back to later. Concept of Management: Every business requires planning for the future to find a way to successful business for which the person in the helm of affairs has to take decisions and is responsible for the consequences for his decision making whether favourable or unfavorable. Environmental Management is concerned with the management for environment encompassing a business. Organising is the second function of a manager. Art reflects practical application of knowledge and it is perfected through knowledge and experimentation. Management is a distinct ongoing process of allocating inputs of an organisation (human and economic resources) by typical managerial functions (planning, organising, directing and controlling) for the purpose of achieving stated objectives, viz., output of goods and services desired by its customers (environment). Management is a topic that is as vast as the sky. The works of Taylor and Fayol the two pioneers in the evolution of managerial thought are in reality complementary: (1) They both pointed out that the problem of personnel and its management at all levels is the master-key to industrial productivity and progress. Functions of Management 3. Only by changing the actions of management will the culture and actions of an entire organization be transformed. Thus we substitute motivation for command. This definition include principal ideas of any school of management thought: (1) Functional school sees management as a process of planning, organising, directing and controlling. Human resources are your company’s greatest asset and how you lead, motivate and inspire your employees can have a huge impact on the success of your company. (2) Both implied scientific approach and scientific method to solve the management problems. As an artist, he has to depend on his own experience, intuition and judgment while making a decision on any managerial problem and taking action on the decisions to realise the set objectives. Plagiarism Prevention 5. Hence, management is assuming a professional character during the last three decades. Motivation and leadership are the two unique managerial functions or activities to ensure maximum use of human resources without sacrificing human welfare and human satisfaction. Judgment and imagination are essential even in a computerised economy. A project has a definite start and end. In reality, human judgement and experience enjoy the veto power in decision and as a decision-maker a manager is an artist. To implement the plans there must be some organisation structure. Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type and size. Content Guidelines 2. Planning and organising are called mechanics of management and indicate emphasis on the science of management, whereas direction (including communication), motivation, co­ordination and control are the dynamics of management emphasizing the art of management. 2. It is a tough job demanding initiative, drive, tact, discretion and other higher qualities. concept of strategy correctly in terms of busine ss management. See our Privacy Policy and User Agreement for details. The concept of management is well established and very familiar to scholars and practitioners alike. Typically, the concept of a operations management has evolved originating from a broadening of the notion of production management, which, as the title signifies, was seen as principally involved with the management of the transformation of raw materials into finished goods available for onward trade.. The example of Du Pont provided a pattern that was followed with great success by many other companies. Behavioural and organic management is appropriate where the environment is dynamic, and innovation and creativity are at a premium. If you continue browsing the site, you agree to the use of cookies on this website. Environment brings together all inanimate organism and forces functioning in nature including man. The environment provides these resources as inputs to a business enterprise. It a ffects the long- The basic resources are subjected to fundamental functions of management. Definitions of Management 3. 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