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Nature and Significance of Management

The document discusses the meaning and features of management. It covers the functions, levels, and importance of management. It also discusses the meaning and importance of coordination in management. Management is defined as a process of achieving organizational goals effectively and efficiently. The key functions of management are planning, organizing, staffing, directing, and controlling. Coordination is important to integrate the efforts of different departments and levels within an organization.

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45 views

Nature and Significance of Management

The document discusses the meaning and features of management. It covers the functions, levels, and importance of management. It also discusses the meaning and importance of coordination in management. Management is defined as a process of achieving organizational goals effectively and efficiently. The key functions of management are planning, organizing, staffing, directing, and controlling. Coordination is important to integrate the efforts of different departments and levels within an organization.

Uploaded by

fackvison
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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UNIT- 1

NATURE AND SIGNIFICANCE OF MANAGEMENT

Meaning of management - Management is a process of getting things done to achieve the


goals of an organization effectively and efficiently.
Effectiveness: means completing the right task to achieve the goal within time.
Efficiency: means completion of task using minimum resources

Features of management
1. Management is a goal-oriented process- Management unites the efforts of different individuals
in the organisation towards achieving these goals.
2. Management is all pervasive.- The activities involved in managing an enterprise are common to
all organisations whether economic, social or political
3.Management is multidimensional.-
(a) Management of work- performance of some work,
(b) people- “getting work done through people” and
(c ) operations- coverting input into the desired output
4.Management is a continuous process- The process of management is a series of continuous,
composite, but separate functions (planning, organising, directing, staffing and controlling)
5.Management is a group activity- Every member of the group has a different purpose for joining
the organisation but as members of the organisation they work towards fulfilling the common
organisational goal.That’s why it is a group activity.
6.Management is a dynamic function- Management is a dynamic function and has to adapt itself
to the changing environment
7.Management is an intangible force- The effect of management is noticeable in an organisation
where targets are met according to plans, employees are happy and satisfied, and there is
orderliness instead of chaos.
Objectives of management
1.Organisational objectives- These are related with survival ,profit earning and growth of an
organization.
2.Social objectives -These are related to welfare of the society including environmental
protection.
3.Personal Objective- These are related to full filling the financial social and higher-level needs of
employees.
Importance of management
• Management helps in achieving group goals. – Helps to achieve organizational goals,
• Management improves efficiency- optimum utilization of resources
• Management create a dynamic organisation. – Helps to adapt with the changes
• Management helps in achieving personal objectives- of the employees- salary,growth,etc.
• Management helps in development of society- social objectives like generate
employment,quality product,etc.
Nature of management
1)Management as 2) Management as an 4)Management as
science. art. profession

1. Systematized body of 1.Existence of 1.Well defined body if


knowledge theoretical knowledge knowledge
2. Principles based on 2.Based on continuous 2.Professional association
experiments practice 3.Ethical code of conduct
3. Universal validity 3.Personal application 4. Restricted entry
5. Service Motive
Levels of Management –

Top Middle Floor /Supervisory Level


Chair person, CEOs, MD, Divisional Head, plant Foreman, supervisor
BOD superintendent,
operational manager
Functions-To plan To interpretate the policies They are responsible for
objectives and frame of top management. actual implementation of
policies for success and To plan the activities of plans at floor level
growth of overall their concerned division Maintenance of discipline
organization To ensure availability of Sends grievance,feedback
necessary staff and and report of workers to
resources in their management and acts as
department linking pin between
workers and management
Functions of management -
There are main five functions of Management
Planning : It is what is to be done and how to be done. ie setting objectives and course of action
plan to achieve.
Organising: Deciding the organisation structure and establishing the authority and responsibility
relationships
Staffing: Finding the right person for right job. It is related with appointments and training of staff
mainly.
Directing: it is to guide ,motivate and communicate properly with d staff so as to achieve
organisation goals
Controlling : It means monitoring the actual performance and ensuring the achievement of targets
and plans.

Meaning of coordination- Coordination is the force that binds all the functions of Management it
is considered as the essence of management.
1. Integrated groups- gives a common focus to group effort
2. Ensures unity of action- binding force between departments
3.It is a continuous process- It begins at the planning stage and continues till controlling.
4. It is all pervasive- required at all levels of management. It integrates the efforts of different
departments and different levels.
5. Coordination is the responsibility of all managers:- Top management coordinates with
subordinates, middle with top and lower level,lower level coordinates the activities of workers.
6. It is a deliberate function of management- A manager has to coordinate the efforts of different
people in a conscious manner

Importance of coordination-
1.Coordination is necessary to manage large organisation.
2. Due to functional differentiation in departments and division coordination is required to bring
in a degree of homogeneity.
3. To create unity of action among specialist coordination is required in organisation.

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