What Doubts of top 18 Features of Management? Management is a vital aspect of the monetary existence of man, that’s an organized institution interest. A crucial directing and controlling company is critical for an enterprise subject. The productive resources – are cloth, hard work, capital, and many others. Are entrusted to the organizing communication, ability, administrative ability, and enterprising initiative of the control.
Here is the article to explain, How to define the Doubts about the top 18 Features of Management!
Thus, control gives management to a commercial enterprise organization. Without able managers and effective managerial management, the assets of manufacturing stay simply sources and in no way end up manufacturing. Under an aggressive economic system and ever-changing environment, the best and overall performance of managers decides both the survival in addition to the achievement of any commercial enterprise agency.
An analysis of the various definitions of management indicates that management has certain features. The following are the 18 salient features of management.
- Management aims at reaping rich results in economic terms: Manager’s primary task is to secure productive performance through planning, direction, and control. It is expected of the management to bring into being the desired results. Rational utilization of available resources to maximize profit is the economic function of a manager. A professional manager can prove his administrative talent only by economizing the resources and enhancing profit. Features of Management, According to Kimball, “management is the art of applying the economic principles that underlie the control of men and materials in the enterprise under consideration”.
- Management also implies skill and experience in getting things done through people: Management involves doing the job through people. The economic function of earning profitable returns cannot be performed without enlisting cooperation and securing a positive response from “people”. Getting the suitable type of people to execute the operations is a significant aspect of management. In the words of Koontz and O’Donnell, “Management is the art of getting things done through people in formally organized groups”.
- Management is a process: Management is a process, function, or activity. This process continues till the objectives set by the administration are achieved. “Management is a social process involving coordination of human and material resources through the functions of planning, organizing, staffing, leading and controlling to accomplish stated objectives”.
- Management is a universal activity: Management does not apply to business undertakings only. It applies to political, social, religious, and educational institutions also. Management is necessary when group effort is required.
- Management is a science as well as an art: Management is an art because there are definite principles of management. It is also a science because by the application of these principles predetermined objectives can be achieved.
- Management is a profession: Management is gradually becoming a profession because there are established principles of management that are being applied in practice, and it involves specialized training and is governed by an ethical code arising out of its social obligations.
- Management is an endeavor to achieve pre-determined objectives: Management is concerned with directing and controlling the various activities of the organization to attain the pre-determined objectives. Every managerial activity has certain objectives. Management deals particularly with the actual directing of human efforts.
- Management is a group activity: Management comes into existence only when there is a group activity towards a common objective. Management is always concerned with group efforts and not individual efforts. To achieve the goals of an organization management plans to organize, coordinate, direct, and control the group effort.
- Management is a system of authority: Authority means power to make others act in a predetermined manner. Management formalizes a standard set of rules and procedures to be followed by the subordinates and ensures their compliance with the rules and regulations. Since management is a process of directing men to perform a task, authority to extract the work from others is implied in the very concept of management.
- Management involves decision-making: Management implies making decisions regarding the organization and operation of the business in its different dimensions. The success or failure of an organization can be judged by the quality of decisions taken by the managers. Therefore, decisions are the key to the performance of a manager.
- Management implies good leadership: A manager must have the ability to lead and get the desired course of action from the subordinates. According to R. C. Davis, “management is the function of executive leadership everywhere”. Management of the high order implies the capacity of managers to influence the behavior of their subordinates.
- Management is dynamic and not static: The principles of management are dynamic and not static. It has to adapt itself according to social changes.
- Management draws ideas and concepts from various disciplines: Management is an interdisciplinary study. It draws ideas and concepts from various disciplines like economics, statistics, mathematics, psychology, sociology, anthropology, etc.
- Management is goal-oriented: Management is a purposeful activity. It is concerned with the achievement of pre-determined objectives of an organization.
- Different levels of management: Management is needed at different levels of an organization named the top level, middle level, and lower level.
- Need for an organization: There is a need for an organization for the success of management. Management uses the organization for achieving pre-determined objectives.
- Management need not be owners: Managers don’t need to be owners of the enterprise. In joint-stock companies, management and owners (capital) are different entities.
- Management is intangible: It cannot be seen with the eyes. It is evidenced only by the quality of the organization and the results, i.e., profits, increased productivity, etc.