In generalized way Management may be defined as a way of managing the activities in efficient and effective form, for the achievement of certain goals or objectives. In fact management is one of the most important parts and parcel of business organization. In the absence of effective management system any business organization can never attain its Predetermined goals in the appropriate way. It is as essential to business organization as a rudder to boat. Without a rudder a boat cannot across the river it will capsize into the river and its passengers will drown. Similarly without an effective management system any business organization cannot able take even single step properly for its all around development. Thus it is clear that management is the life-giving element for every business organization.
Definitions of Management:
- According to Koontz and O’ Donnel: “Management is the art of getting things done through and with people informally organized groups.”
- According to Henry Fayol: “Management may be defined as a systematic process of establishing goals or objectives of enterprise and attaining it’s through the functions of planning, organizing, staffing, directing and controlling so that the goals of enterprise can attain very smoothly”.
Characteristics or Features or Natures of Management:
The important Characteristics or Features or Natures of Management can be depicted as follows:- Management is a goal-Oriented approach: Management refers to a goal-oriented approach because it is directly related to the goals or objectives of organization. In fact management provides a certain platform to organization to perform its various activities in the best and cheapest way with-a-view to achieve its pre-determined goals. Hence, it is clear that the approach of management can put to be a goal-oriented.
- Management is a social process: Management can consider as a social process because it is concerned with human and their relationship. It is matter of fact that in organization management system can be established by the people and for the people, because one man cannot able to carry out each and every activity of organization. Hence, organization needs a group of people having collection of abilities towards the attainment of enterprise goals in the appropriate way. So that they come from different societies, cultures, religions etc. and will gather in one place for making co-operative relationship among them. Thus, management is a social process.
- Management is Universal Process: It is an important feature of management. Management is called as a universal process because it has gained a wide area of application. In fact the principle of management can apply each and every forms of organization either it may be business organization, social organization or political organization. In the absence of an effective management system there is no entity of any organization structure. Hence, it is clear that management is a universal process.
- Management is a Continuous Process: Management can be described as a continuous process because it is not an event which is concerned with the point of time. It is a never ending process. In fact management is needed at every walk of life of an organization, because in the lack of sound management system any organization cannot able to progress by leaps and bounds. So for all around development of organization a sound management system is needed for ever. On the whole it is clear that management is a Continuous process.
- Management is a Process: Management is a process because a large number of events are done under management system for the achievement of certain goals or objectives. In the process of management planning, organizing, staffing, directing and controlling etc are included which provides a certain path to organization in the achievement of its predetermined goals in a proper way.
- Management is a Creative Function: Management is a creative function because it creates so many things for all around development of people. It contributes to new investments, incomes, employments and new business etc in nation. So that people can get more benefits from these things and can make their life more comfortable and blissful. Thus we can say that management is a creative function.
- Management is an Integrating Force: Management refers to an integrating force because it integrates all the available resources by the help of establishing proper unity and co-ordination among the departments and sub-departments of employee through proper network of communication. So that enterprise can easily attain its Pre-determined goals.
- Management is an art as well as science: Management can be treated as an art as well as science because it has both qualities. Management is a science because it has similar qualities to science. Science refers to systematic study of knowledge of an event which helps to establish relationship between causes and effects of an event. Management is also a systematic study of knowledge of various activities in organization for the purpose of achieving certain goals. It also helps to establish relationship between actual performance and preset goals of organization. Thus, management is science. Management can put to be as an art because it helps organization to do its various activities in the more economic way by the proper utilization of man-power or talent. Hence, it is clear that management is an art as well as science.