Management

An art of getting things done with and through others. It includes how the best quality work can be get done by workers efficiently with less cost of production and also to manage 5 M’s like Men, Material,, Machine, Money, Method

Definition:

Henry Fayol: “The management is to forecast, to plan, to organize, to command, to coordinate and to control 

Characteristics of Management. 

1. Goal-oriented Process: It is undertaken to achieve specified objectives using available resources.

2. Pervasive: Management is used in all types of organizations like schools, clubs, etc. It is universal.

3. Multidimensional: It involves management of work, management of people, and management of operations.

4. Continuous: It is a series of functions performed simultaneously by all managers all the time.

5. Group Activity: It involves coordinating the efforts of different people as a team.

6. Dynamic Function: It adapts to changing needs, time, and situations of the environment.

7. Intangible Force: It cannot be seen but its effects can be felt in the form of results and coordination.

Modern Context – Management in the 21st Century

• Globalisation & technology → world = "global village"

• Modern manager needs:

  • Hard skills: analysis, strategy, engineering, tech

  • Soft skills: team dynamics, motivation, cultural understanding

• Global manager must adapt across cultures (e.g., Europe → Malaysia → USA)

• Role evolved: multi-faceted, culturally aware, tech-savvy

Importance of Management:

1.  Achieving Group Goals: Management creates team work and coordination in the group.

2.  Increases Efficiency: by using resources in the best possible manner to reduce cost and increase productivity.

3.  Creates Dynamic organization: Management helps the employees overcome their resistance to change and adapt as per changing situation to ensure its survival and growth.

4.  Achieving personal objectives: Management helps the individuals achieve their personal goals while working towards organizational objectives.

5.   Development of Society: by producing good quality products, creating employment

Objectives of Management:

1.            Survival: Earning enough revenue to cover costs.

2.       Profit: Covering costs and risks, ensuring business success.

3.       Growth: Improving future prospects.

4.       Development of employer and employee

5.       Maintain coordination between labour and capital.

Nature of management

1.   Management as an Art: The features of art as follows:

a.   Existence of theoretical knowledge

b.  Personalized application

c.   Based on practice and creativity

In management also a huge volume of literature and books are available on different aspects of management. Every manager has his own unique style of managing things and people.

2.  Management as a Science: The features of Science are as follows:

a.   Systematized body of knowledge

b.  Principles based on experiments and observation

c.   Universal validity

Management has systematic body of knowledge and its principles are developed over a period of time based on repeated experiments & observations which are universally applicable

3.   Management as both Art and science

4.  Management as a profession:  The main features of profession are as follows:

(a)    Well-defined body of Knowledge:

(b)   Restricted Entry: The entry in every profession is restricted through some minimum education.

(c)    Professional Associations: Affiliated to a professional association which regulates entry.

(d)   Ethical Code of Conduct: Code of conduct which guides the behaviour of its members.

(e)   Service Motive: The main aim of a profession is to serve its clients.

Management does not fulfil all the features of a profession and thus it is not a full-fledged profession

because anybody can proclaim to be a manager; prescribed compulsory educational degree or license is required. Besides there are not any formal ethical codes which are required to be observed.

Cross-Disciplinary Perspectives

• Anthropology: culture & behavior understanding

• Economics: resource allocation, market understanding

• Philosophy: ethics, values, business legitimacy

• Political Science: govt. policies impact business

• Psychology: motivation, leadership, diversity

• Sociology: social changes impact organizations

Main Functions of Management:

1.   Planning: It is a primary function deciding in advance what to do, how to do it, and it gives direction of action.

2.   Organizing: Assigning duties, grouping tasks, establishing authority, and allocating resources to carry out the plan.

3.   Staffing: Finding the right people for the right job through recruitment, selection, training, and development.

4.   Directing: Leading, influencing, and motivating employees to perform their assigned tasks. This includes supervision, communication, leadership, and motivation.

5.   Controlling: Monitoring organizational performance and taking corrective action to ensure goals are achieved.

Responsibility of management:

1.   Towards consumer: provide quality product and services at minimum price.

2.   Towards government: follow the rules and regulation and pay taxes honestly.

3.   Towards environment: promote measures for pollution control, planting trees, welfare of society.

Coordination:

The Essence of Management Coordination synchronizes all management functions and activities across different departments. It integrates diverse activities into a purposeful group effort, ensuring everyone works towards the same goals.

1.  Coordination integrates group efforts:

2.  Coordination ensures unity of action:

3.  Coordination is a continuous process: it is required at all levels

4.  Coordination is all pervasive function: It is universal in nature.

5.  Coordination is the responsibility of all managers: It is equally important at all the three level

6.   Coordination is a deliberate function:

Difficulties in Coordination

1.   Difference in organisation and individual objective

2.   Difference in individual objective

3.   Problem in measurement of work progress

Process of Coordination

Coordination is not a separate function but is achieved through the systematic performance of all managerial functions:

1. Through Planning: Different departments are integrated to ensure they work toward a common organizational objective.

2. Through Organisation: Activities that minimizes conflict and ensures a smooth flow of work between departments.

3. Through Staffing: By placing the right person in the right job, 

4. Through Directing: Managers provide instructions and guidance that align individual efforts with the group’s goals

5. Through Controlling: Any deviations from the planned performance are identified and corrected 

6. Through Proper Communication: Clear and timely exchange of information is vital to resolve misunderstandings