Management is nothing but a process of organizing and directing the resources of an enterprise towards the achievement of certain objectives lay down by the same organization. It is an art as well as a science, as it involves the scarce skills of human beings and it promotes knowledge, like other sciences, which may be useful to the humanity.
As various theories are being build up Management is becoming a subject of attraction. It is a body of knowledge which is expanding its avenues through the experiences of various managers working under various conditions.
Efficiency of business organizations is enhanced by the application of the principles of management. Fuller utilization of resources is the prime motive of management. As this involves, the utilization of human resources, in the beginning of last century, management science has been branded as an instrument of exploitation.
Later, its salient features were properly conceived and it has got its application in all private, cooperative and public sector economies. Modern organizations did not lag behind the application of management principles and techniques.
Scientific approach to problems and preparedness are the other features of management. Haphazard approach to solve problems has no place in scientific management. Determination of goals on the basis of thorough scrutiny of the areas and resources concerned has also been the motto of management, which gave objectivity to the approaches.
Scientific management is also alert in facing problems and finding solutions to problems as organizations have to face unexpected risk in their operations. Management techniques insure such risks by means of thorough preparedness.
Dynamism and adaptability are imbibed with the scientific management. The long standing existence of any organization depends on the dynamism it is introducing in its operations. As the society is changing the tastes and demands of the consumers are also changing.
Hence, an organization must change its strategy of planning and techniques of production, to suit the tastes of the customers. Otherwise, the unit has to suffer for want of customers.
The science of management trains the people in the art of managing organizations. Potential managers are trained to manage organizations more scientifically. Peter Drucker the management giant viewed that, “the manager including the managing of a business, through the systematic study of principles, the acquisition of organized knowledge and the systematic analysis of his own performance in all areas of his work and job and on all levels of management.
Indeed nothing else can contribute so much to his skill, his effectiveness and his performance. And underlying this theme is the conviction that the impact of the manager on modern society and its citizens is as great as to require of him the self discipline and the high standards of public service of a true professional”.