Concept of Management

We often talk of management in almost all spheres of our lives - from home to office and from shops to malls - nothing moves without efficient management by everyone; from ordinary worker to the top hierarchy or even your wife when it comes to handling and 'managing' the affairs of the house.

So what this management really means and is all about.

Management is in fact the administration and coordination of efforts of every tool, machine and human resource for best possible 'productive' output. Simply speaking, management is the process of dealing with or controlling things or people. F W Taylor describes management as an art of “knowing what you want to do” and then seeing that it is done in the best and cheapest way

But a detailed and more elaborate definition of management is defined by Wikipedia as: The administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.

Going deep into the concept, things start to take rather complex shape as far management is concerned. The concept of management translates into a process of planning, organizing, staffing, directing, co-ordinating and controlling the activities of business enterprises. It is also described as the technique of leadership, decision making and a mean of co-ordinating.

From the above, it can be seen that it is the leadership which decided and defines the concept for the enterprise by taking the right decisions and coordinating all efforts for the ultimate goal of optimum productivity, outcome and profits.

Now this is simply a birds eye view of management. But there is whole lot more to it and I will try to broaden the concept in my future posts.

References: Wikipedia | Photo

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Posted in: Business, Concept, Management