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Question
Explain the concept of management.
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Solution
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:
- Maximum productivity or profitability
- Maximum human welfare and satisfaction.
- There are five parts of management as a process:
- 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.
- 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.
- 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.
- Management is a Social Process: It is the art of getting things done through other people.
- Management is a Cyclical Process: It represents a planning-action-control-replanning cycle, i.e., an ongoing process to attain the planned goals.
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