Meaning, Definition, Characteristics, Importance, Objectives, Functions of Management

 

Meaning of Management 

 

Management refers to the art of working with others, under management it is included that how to get the best work done by the employees in the enterprise so that maximum profit and target can be achieved in less time at less cost .

Definition of Management

 

1. According to F.W. Taylor - "Management is the art of knowing what you want to do and then seeing how to do it best and most economically."

2. According to Henry Fayol - "The intention of management is to anticipate or plan, to order, to coordinate and to control ."

 

Characteristics of Management

 

1. The principles of management are dynamic :

Management makes a minute analysis of the problems facing it on a daily basis and accordingly it is tasked to take serious decisions. Along with social change, management tries to bring innovation in management technology, it is clear that management provides more dynamic to social change.

2. Management is an important process- 

Management includes planning, implementation, control, coordination, motivation, direction, etc., with the help of which pre-determined goals can be achieved.

 

3. Management has a definite objective: 

Every management process has a specific objective, which is determined by the administration.

4. Collective Efforts- 

In management, the focus is on the collective efforts, not the individual, in other words we can say that the goal of management is to work for the collective organization with unity.

 

5. Management is Art and Science- 

Taking work from the employees by giving directions is an art and due to its definite principles and rules, it can also be called science.

6. Management is universal- 

We cannot limit management to any organization, country, common man, rather it is spread in all countries, work and organizations due to being universal.

 

7. Invisible Skills- 

Management cannot be seen, it comes to us as the result of work, if the efforts of work are successful, dua is called good management. On the contrary, if someone fails, then the inefficiency of the management is proved there.

Functions of Management 

 

High Level Work 

• Determining the objective of the undertaking.

• To protect them as trustees of the institution.

• Selecting the Chief Executive.

• To examine the achievements and results of the institution.

• passing the budget.

• Proper extension of today.

• To discuss important topics.

• To strive for long term sustainability of the business.

 

Intermediate Work 

 

• Providing assistance in the activities of the Chief Executive.

• To assist with operational decisions.

• Keeping in touch with daily results.

• Reviewing production achievements.

• To implement the set policies within the limits set by the top level management.

• Evaluation of the work of subordinates.

• Preparing a plan to achieve the objectives.

• To coordinate and communicate between higher and lower levels.

 

Low Level Work 

 

• Making plans to fulfill the objectives and goals of the organization.

• Assigning work dreams to employees.

• Monitoring work and results.

• Keeping an eye on the place of error, taking new steps at their place.

• Maintaining personal relations with the production staff.

• Liaise with staff as required.

• Evaluating the work of the employees.

• Giving proper information to the middle managers keeping in mind the interests and facilities of the employees.

 

Write the objectives of management| Objectives of Management 

 

1. To get maximum results with minimum efforts- 

The main ones are based on business objectives in which efforts are made to get maximum results with minimum effort, cost and time. In other words, the main goal of management is to get the best results by using the available human and material resources.

2. Development of appointed and employees- 

Both appointed and employees are part of the society, development of the society can be done only by their development, the purpose of every undertaking, organization and business is also to develop the society by getting benefits, in this way management and efforts It is to be done that the development of the employee and the recruitment class can be maximum, for this, coordination between labor capital, employee training, promotion and labor and work related to the development plan of the organization is the objective of the management.

 

3. Maintaining coordination in labor capital- 

There are two major classes of any enterprise 'one' labor which plays an important role in the work of the enterprise and in whose hands there is power and the other 'capital' which is important in operating the enterprise. Plays a role, balance between these two is necessary to be in the goods, without coordination and balance, the undertaking can go bad. Management always works well between these two.

4. Achievement of goals- 

Some objectives are necessary for the establishment of any organization, only to achieve these, the management does various tasks, these goals can be anything, here we will talk about business goals only, so to achieve the goals of business Management can be organized only with the objective of doing.

 

5. Social justice and human development- 

An effective management brings prosperity in the society, better working conditions and other facilities not only develop the employees, but also develop various resources of the society by envisaging better production.

 

Major Functions of Management | Explain the main functions of management 

 

1. Planning- The most important and primary function of management is planning . Under planning, an outline is prepared of how, with which person, where, in what time, with which method, to complete a task, so that the target can be achieved in the stipulated time. Predictions are made for this. Pro. Terry has said “Planning is the way to look into the future.”

2. Organisation- Organization is another important function. The collective effort of man and machine which works for the achievement of predetermined goals is called organization . An organization is a group of two or more persons. Management cannot achieve its goal without a strong organization, Management makes the organization strong and effective. Organization is the establishment of an effective relationship between various means of commerce and industry in business.

 

3. Appointments- The third important function of management is to appoint employees, because without appointment the organization cannot be managed, for appointment work a separate department is opened in large scale production. And appointments are made by this department. The person for the job should follow the principle for that job person before being appointed on the job.

4. Operation- Operation is the fourth important function of management. It is also called directing. Management is like a brain, so its work is to run the entire system and industries. He works to give instructions to other employees to do the necessary work. 

 

5. Motivation – This is the fifth important function. By this, employees are engaged, attracted and motivated to work. So that the employees do their work diligently, now there is no time left to work with a stick. 

6. Controlling- The sixth important function of management is controlling . In business, it is necessary in the proper relationship between purchase, sale, production, profit etc., for this, management is trying to complete the work according to the target by finding out the reasons whether the different types of business are being completed or not, production and distribution are necessary. Under control, it is seen whether the work is being completed according to the predetermined target or not, if it is not being done, efforts are made to complete the work according to the target after finding out the reasons.

7. Co-ordination- At present, due to the strong desire to work in a free-spirited manner, the opposing ideologies have become an important task of co-ordination management. In colloquial language, this is called mutual coordination. Where there are more number of employees and the volume of production is more. Coordination is also an important function of management.

 

Importance of Management

 

1. Achieving predetermined goals- Every organization is established to fulfill some objectives. Management is a medium which helps in achieving these objectives. Management anticipates future events on the basis of its knowledge. Creates organization and assigns assignments. Directs employees. controls them. Motivates employees and detects deviations by evaluating adequate results

2. Maximum use of the means of production - What is the power of the management, which effectively coordinates the various means of production and uses them optimally, that is, all the means available in the organization are considered equal to gold, but to achieve it, the means To make profit from them, it is necessary to use them properly. Hence it is clear that the efficient use of limited resources is the key to business success.

 

3. Conquering Competition- Today the size of the business has become national and international rather than being local. As the size of the business is increasing, so is the competition. Today's manufacturer has to face competition not only at the local and national level but also at the international level. In such a situation, only that organization can survive in the market, which can provide the best quality goods to its customers at the least price.

4. Coordination with the changing environment- The importance of management is not only limited to performing various functions inside the organization but it has to be run in agreement with the external environment as well. On the one hand, technical experts are developing new production methods, on the other hand, new progressive organizations are busy in implementing modern methods. Today, the consumer also does not accept the produced goods simply because along with the increase in their standard of living, awareness has come in them and their interest also keeps on changing. In this way, only a skilled manager can do the work of coordination with the changing environment day by day.

 

5. Efficient operation of large scale business- In view of the benefits of large scale production, it is being given priority today. When production is on a large scale, the means of production will also be required in large quantities. Apart from this, the business will also have to face many legal formalities.

Different levels of management 

1. Top-level Management- The place of top-level management is paramount in the management levels of an enterprise. The objectives and policies of a large size undertaking are generally determined by the Board of Directors. The actual management of the works of the Board of Directors is done by the Director or General Manager, who is done by the Chief Executive. The main function of the Chief Executive is to issue the instructions, policies issued by the Board of Directors and necessary actions have to be taken to achieve the objectives.

 

2. Middle level management – ​​In this level departmental managers like production manager, marketing manager, finance manager, employees and officers below them including superintendent, vice president etc. are included.

3. Lower Level management – At this level mainly foreman supervisors or office supervisors are included. The main function of the managers at this level is to see whether the employees below them have done the work properly or not. The work of the managers of this level is to clarify the policies of the employees, to determine the required level, to give instructions, to pave the way, to give motivation etc.