Management is a process of giving an order to the activities of planning, organizing, actuating and controlling, performed to determine and accomplish stated objectives with the use of human beings and other resources. It is an activity that converts disorganized human and physical resources into useful and effective results.
It is most challenging, comprehensive, demanding, crucial and subtle of all human activities. Every type of human organization needs the process of management. All of us are affected by good or bad management practices. Managers affect the establishment and accomplishment of many social, economic and political goals in any country. Management makes human efforts more productive.
By combining isolated events and disjointed information into meaningful relationships, Management, brings order to endeavors. These relationships then work to solve problems and accomplish goals. There is no substitute for good judgment.
Determining worthwhile goals and carefully selecting and utilizing resources efficiently and effectively by planning organizing, actuating and controlling required time, good judgment determination and lots of practice.
1. Direction and Command:
Direction and command are the two basic principles of management. Unity of direction and unity of command are required so that people receive direction from only one supervisor.
2. Subordination of Individual Interest:
In order to manage an organisation, subordination of individual interests must occur so that the general interest is best served.
In the process of management, centralization is desirable, especially centralization of decision-making.
Order is supreme of management. Order is essential for everything, and an orderly process and orderly appearance are required.
5. Turnover Reduction:
Employees should be adequately and fairly remunerated to reduce employee turnover and increase production.
6. Incentives and Rewards:
The emphasis is on performance, and standards and incentive rewards are used to maximize performance.
Division of work and specialization should characterize any enterprise, and management should be a separate function. Departmentalization is by process or place.
Authority should be equal to responsibilities with enough authority granted to ensure success.
Discipline is required to ensure that the best interests of the organization are served.