Employee Behaviour – An Overview
There is a certain way individuals behave in a particular situation. No two individuals behave in similar ways. There are individuals who find it difficult to handle stress whereas there are certain individuals who have the ability to face unforeseen circumstances with a smile. Employee behaviour is defined as an employee’s reaction to a particular […]
How Information Technology can Enable Governance in Developing Countries
The Problems of Governance in Developing Countries Governance is a problem in many Third World countries where the structures and the systems of governance are slow, archaic, and bureaucratic. Moreover, many developing countries do not have processes in place that would ensure reliable delivery of public services. For instance, take the example of the Asian […]
Customer Loyalty Breakers
When customers end up his relationship with suppliers, he breaks the loyalty with him. Following are the reasons which are responsible for loyalty break ups: Customer dis-satisfaction: Customer dissatisfaction is the primary reason that results in breaking up the continued loyalty with the supplier. Most of the unsatisfied customers try to find more prominent alternatives […]
Increasing Customer Loyalty
It is necessarily required for an organization to interact and communicate with customers on a regular basis to increase customer loyalty. In these interactions and communications it is required to learn and determine all individual customer needs and respond accordingly. Following are some important aspects which suppliers should always keep in mind to increase customer […]
Evolution of Insurance Regulation
The general public is not very fond of the financial services industry. Whenever any crisis breaks out, the financial services industry is one of the first ones to bear the brunt. The fact that AIG, which is one of the largest insurance companies in the world, needed a bailout during the 2008 crisis does not […]
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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