Nature of Management Principles: Details Discussion
Nature of Management Definition:
14 Natures of Management Principles:
1. Universal applicable:
Management is a universal activity. It is applied to establishments engaged in any form of activity, economic otherwise.
Every organization has certain objectives and it is the task of the management to attain them.
3. An intangible process:
Management is abstract and it can’t be seen with the eyes. It is evidenced by the organization and the result such as increased productivity, increased morale of the subordinates, etc.
4. A distinct process:
Management is a distinct process consisting of fundamental functions of planning, organizing, actuating, and controlling. These functions are applied in the effective utilization of the various resources such as human, financial, and others to achieve predetermined.
5. A social process:
Management is a social process since it is concerned with directing, coordinating, and controlling the efforts of human beings who actually perform diverse and specific jobs.
6. A decision-making process:
Management involves decisions relating to the various aspects of management.
7. An integrating process:
Management integrates men, machines, materials n order to carry out the operations of an enterprise and achieve the stated objectives.
The main task of management is guidance to convert the disorganized resources of men, machines, money, and materials into a useful and effective enterprise.
9. An art and science:
Management has elements of an art a cause it and characteristics of science. It is an art because it is concerned with the application of knowledge for the solution of the organizational problem.
10. An economic resource:
There are five-factor of production i.e. viz, land, labor, capital, management, and entrepreneurship.
11. A profession:
Management is now recognized as a profession. It has a specialized body of knowledge, principles, tools, and techniques that can be taught and transferred. It also has a code of professional ethics.
The essence of management is to direct, guide, and controls the activities of an enterprise.
13. The pervasiveness of planning:
Management functions are performed from top to lower levels.
14. A continuous process:
Management is a complex, dynamic and ongoing process that lasts as long as the organization continues to exist.
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