Question

Explain the concept of management.

Answer 1

The substance of management should be identified as a process. A process is something that what a person does in the context of his individual duties and responsibilities assigned by his or her immediate higher authority.

• There are twin purposes of the management process:

1. Maximum productivity or profitability
2. Maximum human welfare and satisfaction.

• There are five parts of management as a process:

1. Co-ordination of resources: The manager of an enterprise must effectively coordinate all activities and resources of the organization, namely, men, machines, materials, and money, the four M’s of management.
2. Management is a Process: The manager achieves proper coordination of resources by means of the managerial functions of planning, organizing, staffing, directing (or leading and motivating), and controlling.
3. Management is a Purposive Process: It is directed toward the achievement of predetermined goals or objectives. Without an objective, we have no destination to reach or a path to follow to arrive at our destination, i.e., a goal, both management, and organization must be purposive or goal-oriented.
4. Management is a Social Process: It is the art of getting things done through other people.
5. Management is a Cyclical Process: It represents a planning-action-control-replanning cycle, i.e., an ongoing process to attain the planned goals.