NATURE AND SIGNIFICANCE OF MANAGEMENT CLASS 12th
NATURE AND SIGNIFICANCE OF MANAGEMENT CLASS XI
CHARACTERISTICS/FEATURES OF MANAGEMENT:-
1- Management Is A Goal Oriented Process: Management always focuses on achieving the organizational goal. Management units efforts of different people in one direction i.e. achieving the organisational goal.
2- Management is Pervasive/Universal: Management is applicable in all type of organisation whether the profit making or non–profit making organisation.
Such as, Schools, clubs, temples etc.
3- Management is multi dimensional: Management includes three main activities–
i. Management of work such as Planning, Organising, Controlling and so on.
ii. Management of people such as Staffing, Directing.
iii. Management of operation such as production, purchasing, selling and so on.
4- Management is a Continuous Process: All functions of management such as Planning, Organising, Staffing, Directing and Controlling are performed continuously.
5- Management is a Group Activity: Management always refers to group of people involved in managerial activities. It cannot be done in isolation because it is a group activity.
OBJECTIVES OF MANAGEMENT:-
Objectives are the end results towards which the activities of an organisation are directed.
The management objectives can be classified into three categories:
1- Organisational Objectives:- These objectives are aim of prosperity and growth of the organisation. Generally it is assumed that the main object of an organisation is Profit maximization, but it is not true whether the main objective of manager is:
a) Survival
b) Profit
c) Growth
2- Social Objectives:– The Common Social Objectives are:
i. Supply of good quality products at reasonable price.
ii. To generate the employment opportunities.
iii. To organise a training programme or educational programme time to time.
iv. To generate the economic wealth.
3- Personal Objectives:- These objectives are related to the employees of an organisation.
The main Individual/Personal objectives are:
i. Competitive Salary.
ii. Personal growth and development.
iii. Good and healthy environment.
iv. Self respect.
IMPORTANCE OF MANAGEMENT:-
1- Management helps in achieving group goal: Management direct the efforts of all the individuals in common direction, that is to achieve the organisational goal.
2- Management improves efficiency: While working the managers, who try to reduce the cost and improve the productivity with minimum wastage of resources.
3- Management helps in achieving the personal objectives: An efficient manager is one who brings maximum prosperity for emolyer and employees. Managers lead the people in such a way that along with the organisational goal their personal objectives can also be achieved.
4- Management Creates a dynamic Organization:- Efficient management motivates their employees to adopt the changes and do the work willingly in dynamic environment.
5- Management helps in development of Society:- Efficient management always give respect to social obligations such as employees customers, suppliers, etc. It insists on providing of good quality product, competitive salary, create employment opportunities and to increase the production it also contributes to increase in GDP.
NATURE OF MANAGEMENT:-
1-Management as a Science:
(I) Systematic body of knowledge: In science organised and systematic study material is available which is used to acquire the knowledge of science. Like science in management also there is availability of systematic and organized study material. "So, first feature of science is present in management."
(II) Principles are based on experimentation: Scientific principles and management principles both are developed through observation and experiment but since management deal with human behaviour can't be accurately predicted.
"So, this feature of science is partially present".
(III) Universal Validity: Scientific principles have universal application and validity. Management principles are not exact so their application and use is not universal. They have to modified according to the given situation. "So, this feature of science is not present in management".
CONCLUSION:- On comparing the features of science with management we find that management cannot be considered pure or exact science but we can call it as an "inexact science".
2- Management as an Art:-
(I) Systematic body of knowledge: In every art, organised and systematic study material is available which is used to acquire the theoretical knowledge. Like art in management also there is availability of systematic and organized body of knowledge which can help in acquiring managerial studies. "So, first feature of art is present in management."
(II) Personalised application: In the field of art and management only theoretical knowledge is not enough. Every artist and manager must have personal skills and creativity to apply that knowledge. "So, this feature of art is also present in management".
(III) Based on practices and creativity; Art requires creative practice, i.e. artist must add his creativity to the theoretical knowledge he has learned. Same way with experience managers also improve their managerial skills and efficiency. "So, this feature of art is also present in management".
CONCLUSION:- On comparing the features of art with management we find that all the features of art are present in management so we can call management as an art of getting the things done by the others.
3- Management as a profession:-
(I) Restricted Entry: The entry to a profession is restricted through an examination or degree. Whereas there is no legal restriction on appointment of a manager. But now many companies prefer to appoint managers only with MBA degree.
(II) Presence of professional associations: For all the professions, special associations are established and every professional has to get himself registered with his association before practicing that profession. But legally it is not compulsory for managers to become a part of such organisations by registration.
(III) Service Motive: The basic motive of every profession is to serve the client with dedication whereas now a days also in management, to survive in market for a long period of time, a businessman must give due importance to social objectives along with economic objectives.
CONCLUSION: On comparing the features of profession with management we find that presently all the features of profession are not present in management but very soon, may be by next decade these will be included in management. so we can say management is on path of becoming a profession.
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