Understanding Team – What is a Team?
Let us first go through a simple real life situation. John was working as a key accounts head with a leading advertising firm. He had four members reporting to him. Unfortunately he always under estimated his team members and fought with them constantly. He could never trust them and always thought they were incapable of […]
Workplace Efficiency – Being Efficient at Workplace
Remember, every organization pays its employees for their hard work and efficiency. Individuals need to achieve the assigned targets within the desired time frame. It is essential for employees to meet deadlines and deliver results on time. Why would an organization promote you if you do not accomplish tasks within the desired time frame? Employees […]
Pros and Cons of Using Social Media for Recruitment and Monitoring Purposes
Social Media and Access to Personal Information With the advent of Social Media sites such as Facebook, Twitter, Instagram, and others, many people post so much personal information about themselves that anybody who can access their public profiles can get to know a lot about them. Indeed, with an estimated one Billion people on Facebook, […]
The Role of Institutional Investors in Promoting Good Corporate Governance
We have discussed how corporate governance and the practice of ethical and normative business practices are essential for companies to stay the course and reap longer term benefits. In this article, we look at how institutional investors or the investors who are not individuals but large fund managers and investment houses play a major role […]
Power and Politics in Organizations
Power and Politics in Organizations Power and politics in organizations are a reality that no organization can ignore. Though the evolution of the modern corporation and the concomitant rise of the managerial class with a professional way of running the firms is touted to be one of the contributory factors for the decline on power […]
Management is a universal phenomenon. It is a very popular and widely used term. All organizations - business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose.
According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals”.
According to F.W. Taylor, “Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way”.
Management is a purposive activity. It is something that directs group efforts towards the attainment of certain pre-determined goals.
“Management” is the process of working with and through others to effectively achieve the goals of the organization, by efficiently using limited resources in the changing world.
Of course, these goals may vary from one enterprise to another. E.g.: For one enterprise it may be launching of new products by conducting market surveys and for other it may be profit maximization by minimizing cost.
Management involves creating an internal environment: - It is the management which puts into use the various factors of production.
Therefore, it is the responsibility of management to create such conditions which are conducive to maximum efforts so that people are able to perform their task efficiently and effectively.
It includes ensuring availability of raw materials, determination of wages and salaries, formulation of rules & regulations etc.
Therefore, we can say that good management includes both being effective and efficient.
Management can be defined in detail in following categories :
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