12 Important Features of Management

Advertisements:

 


12 important features of Management are given below:

The features of management are:

1. Multi-disciplinary approach:

Management has grown as a separate discipline drawing upon the knowledge and skills of various disciplines like economics, commerce, cooperation, finance, political science, sociology, statistics, demography, quantitative techniques, engineering, ecology, geography, biology, etc.

Management uses the relevant information from these disciplines and integrates them to form a multi-disciplinary and cross functional field of study and develops a broad-spectrum approach in dealing with organizational problems.

2. Dynamic and relative principles:

Management principles and systems are dynamic, open, progressive and flexible in nature-not rigid, closed or absolute. They can be adapted or modified to suit the requirements of different types of organizations and changed situations.

3. Organized activity:

Management is not an isolated activity but is essentially a team­work in formally organized groups.

4. Existence of objective:

Determination of organizational objectives and their accomplishment form the core of managerial activity.

5. Working with and through people:

Management is essentially leading, guiding, developing and motivating people to effective performance for attainment of common goals.

6. Integration of resources:

Management is integrating and balancing of all resources- both material and human-for their optimum utilization, so as to achieve effective results.

7. Management- Both a Science and an Art:

Management is a science because it consists of an organized knowledge and systematic body of principles. It is, however, a combination of social sciences and behavioral sciences, not an exact science like the physical or natural sciences.

Management is also an art because it involves application of systematic knowledge and scientific principles for achieving the desired results in actual work situations. Science teaches on "to know" while art "to do". It may be said that management is the oldest of arts and the youngest of sciences. Management is essentially a practice as it is performance oriented creative action.

8. Management a profession:

Management has now emerged as a profession as managers, to be effective, must acquire the basic professional knowledge and skill in managing, through formal management education or management training; develop the right managerial attitude, sense of professional responsibility and service motive follow the professional code of ethics; and associate themselves with professional management associations or institutions.

9. University of Management:

The basic process and the principles of management are applicable in all situations, in different organizations and countries, with such modifications as deemed necessary.

10. Management both a technical and a social process:

Management integrates, in all its decisions and actions, the technical and the social aspects, the economic and the human aspects of the organization.

11. Management includes administration:

Although different authors have expressed different views about the use of these two terms and many of them have mentioned several points of distinction or difference between them, for all practical purposes, management and administration are considered as the same - with regard to responsibilities, tasks and process.

12. Management a multi-purpose organ:

Management is a "multi-purpose organ" of a business enterprise (which is itself a specific organ of a industrial society") that "manages a business, manages managers, manages workers and work" to quote the inimitable words of Peter Drucker, "If one of them were omitted, we would not have management anymore and we also would not have a business enterprise or an intestinal society".


Advertisements: