Nature of management

Nature of Strategic Management • Strategic Management as a Process: Strategic management is basically a process. It has emerged out of management in other fields where the concept of management is taken as a process for achieving certain objectives of the organization. Thus, strategic management involves establishing a framework to perform various processes. The concept of strategic management must embody all general management principles and practices devoted to strategy formulation and implementation in the organization. • Top Management Function: Strategic management is basically top management function. Thus, in order to ensure effective top management function, it is necessary that a distinction should be made between strategic management and operational management which emphasises day-to-day operations in the organization, so that top management can focus more attention on the strategic aspect rather than emphasising on operational management. Since the environment of the organization is always changing providing new opportunities and threats, top management must spend more and more time on this aspect. Thus, there is a considerable change on the emphasis of top management functions in the organizations particularly in large and complex organizations. The change is from operational management to strategic management. • General Management Approach: Strategic management has general management approach. This approach has three characteristics – • This approach uses syst...

\( \newcommand\) • • • • 3. What is expected of a manager? If organizations are to be successful in meeting these challenges, management must lead the way. With effective management, contemporary companies can accomplish a great deal toward becoming more competitive in the global environment. On the other hand, ineffective management dooms the organization to mediocrity and sometimes outright failure. Because of this, we turn now to a look at the nature of management. However, we want to point out that even though our focus is on managers, what we discuss is also relevant to the actions of nonmanagers. On the basis of this examination, we should be ready to begin our analysis of what managers can learn from the behavioral sciences to improve their effectiveness in a competitive environment. What is Management? Many years ago, Mary Parker Follett defined management as “the art of getting things done through people.” A manager coordinates and oversees the work of others to accomplish ends he could not attain alone. Today this definition has been broadened. Management is generally defined as the process of planning, organizing, directing, and controlling the activities of employees in combination with other resources to accomplish organizational objectives. In a broad sense, then, the task of management is to facilitate the organization’s effectiveness and long-term goal attainment by coordinating and efficiently utilizing available resources. Based on this definition, it is ...

MEANING; The organization and coordination of the activities of a business in order to achieve defined objectives. Management is often included as a factor of production along with? machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy. DEFINITION OF MANAGEMENT Many management experts have tried to define management. But, no definition of management has been universally accepted. Let us discuss some of the leading definitions of management: Peter F. Drucker defines, “management is an organ; organs can be described and defined only through their functions”. According to Terry, “Management is not people; it is an activity like walking, reading, swimming or running. People who perform Management can be designated as members, members of Management or executive leaders.” Ralph C. Davis has defined Management as, “Management is the function of executive leadership anywhere.” According to Mc Farland, “Management is defined for conceptual, theoretical and analytical purposes as that pr...

The study and use of management approaches in handling the affairs of the organization have transformed its nature. Numerous contributions in the field of management have altered its nature, for instance, from just a practice to science also. The nature of management can be explained as follows: Nature of Management Multidisciplinary: Management is basically multidisciplinary. What this means is that, even though management has actually been developed as a standalone discipline, it pulls knowledge and ideas from a variety of disciplines like anthropology, economics, ecology, psychology, sociology, statistics, operations research, etc. Management combines the concepts and ideas obtained from these disciplines and provides modern concepts that may be applied for managing the firms. Actually, the combination of knowledge of a variety of disciplines is the significant contribution of management and this integrated discipline is called management. Dynamic: In accordance with integration and based on practical evidences, management has framed certain principles. These principles are flexible in nature adjust with changes in the environment in which a business exists. Management is dynamic in nature i.e. approaches to mange business change over a duration of time. Universality of Management: Management is a universal phenomenon. Managers carry out pretty much the same functions regardless of their position or nature of the organization. Basic fundamentals of management can be emp...

Management Skills Following are the four management skills or functions which are essential for the success of any manager. Regardless of the size and nature of the organization, a manager requires all these four managerial skills to achieve the organization’s goals. • Planning • Controlling • Organizing • Leading Planning Planning is one of the most important skills for project managers. It is all about defining the goals of the organization. The manager should have a vision and plan for the future. Further, it includes two important • Determining objectives with • Finalizing plans, strategies, and actions for achieving the goals. Browse more Topics under Nature Of Management And Its Process • Concept of Management • Objectives and Importance of Management • Management as Science • Management as Art • Management as Profession • Management Functions • Development of Management Theory • Managerial Roles • Skills of an Effective Manager • Tasks and Responsibilities of Professional Managers Learn more about Organizing Once the planning is done, the manager needs to allocate and arrange resources for the successful implementation of the plans. These resources include both human and non-human resources. Organizing is one of the essential managerial skills. Organizing helps managers determine the list of pending tasks, combine them into jobs, and group the jobs into units giving a form to the organization’s structure. Leading One of the primary responsibilities of a manager is t...

IN his paper, "The Nature of Management", based on an address to the London and District Society of Chartered Accountants, and now issued as "Occasional papers No.2" by the British Institute of Management Sir Charles Renold insists that management is directed to action and that the action is at secondhand : management is concerned with guiding the actions of people other than the planners or guiders. Accordingly he regards management as fundamentally the process of getting things done through the agency of a community, and the functions of management as the handling of a community with the view of its fulfilling the purposes for which it exists. A large part of those functions is, in fact, concerned with the well-being of the team or community, and, in pursuing that well-being, the particular purpose of the community may be only of very indirect consideration. Sir Charles examines in some detail the requirements of community well-being so far as they are yet understood, emphasizing the importance not only of the structure or organisation of the community and procedures but also of their acceptance by the individuals forming the community. Contentment will not be secured unless there is confidence that rules and discipline are administered fairly, and the processes of using the team or community to achieve its purposes really turns on devising instructions appropriate to the situation. Planning he regards as a group of processes providing the raw material from which operati...