Definition and Nature of Management To understand the

Definition and Nature of Management To understand the concept of management To know the nature of management

Definition of Management • The term Management is defined by many others in different ways: • According to many experts, management is what management does. It means management is sum total of all the functions concerned with the working of an enterprise. • Dr. James Lundy has observed, “Management is principally a task of planning, co-ordinating, motivating and controlling the efforts of others towards a specific objectives” • In the words of Stanely Vance, “ Management is simply the process of decision-making and control over the actions of human beings for the express purpose of attaining pre-determined goals”

• In the wards of George R. Terry, “Management is a distinct process consisting of planning, organizing, actuating and controlling performance to determine and accomplish the objectives by use of people and resources. ” • In the words of J. L. Haynes, “Management is an art of getting things done through other people”. so, Management concerned with the various managerial functions, such as planning, organizing, staffing, directing, communicating, co-ordinating, and controlling.

Nature of Management • Multi-disciplinary: management is basically multi-disciplinary. It implies, although management has been developed as a separate discipline, it draws knowledge and concepts from various disciplines like psychology, sociology, economics, statistics etc. management integrates the ideas and concept of different discipline and presents newer concepts which can be put into practice for managing the organization.

• Dynamic nature of Principles: principle is fundamental truth which establishes cause and effect relationship of a function. The principles of management are flexible in nature and change with the changes in the environment in which an organization exists.

• Relative not absolute principles: management principles are relative, not absolute and they should be applied according to the need of the organization. Each organization may differ from others because of time, place, sociocultural factors etc. therefore, principles of management should be applied according to prevailed conditions and adjustment must be made for different changing environment.

• Management Art or Science: Management as an Art: Art is defined as the use of skills to bring a desired results. Thus, management as an art has following features: • Practical Knowledge: An art emphasizes acquiring knowledge through study and practical experience. In management, knowledge is acquired through study and practice. Thus, management is an art. • Personalized application of knowledge: in art, there is personalized application of knowledge to achieve the desired results. This is done in management too. Thus management is an art.

• Improvement through continuous practice: in art, improvement is made through continuous practice which eliminates irrelevant activities and make improvement in relevant activities. This is exactly done in management. • Situational Application: art has situational application. In management, some practices effective in some organization may not be effective in another organization because of change in situation. • Emphasis on Creativity: art put emphasis on creativity through new things or new ways of working. This is done in management too.

Management as a science: • Systemized body of knowledge: