All activities performed by a manger to get things finished by means of others are known as management. In other words, administration is to manage human and different resources tactfully for the achievement of organizational goals. It’s universal in all organized activities. It is an exercise of harmonizing males, cash, machines, supplies and methods towards fulfilling the defined objectives.
Check our list of characteristics of business management
Goal oriented
Each organization is established for a selected objective. Administration is an instrument or system that contributes for the efficient use of human and other resources to achieve predetermined objectives. The primary objective of enterprise administration is to maximise productivity with optimum use of human effort.
Universal activity
Administration is essential the place human activity exists. The process of enterprise administration could also be totally different from group to organization however the fundamental ideas of administration are same. It may be said that the management ideas are universally applicable.
Social process
Business management is a part of social process. Administration achieves its goals by, with, and thru the people. It utilizes human resources for the achievement of organizational goals. Administration has to consider not only the organizational goals but also the social objectives. It has to fulfill the needs of employees within the organizational resources.
Dynamic/modifiable activity
Administration is a dynamic and steady process. The management system of at the moment will not be applicable or effective for tomorrow. Therefore, administration should be dynamic and versatile with the altering surroundings of the society. Administration has to switch its style according to the time and situation. This flexibility is essential for a company to adjust with the changing setting of the business.
Group activity
The concept of enterprise administration will not be applicable if there is only one individual or proprietor. It represents a group, class or part of individuals concerned in various managerial functions. It is essential if there is a group of people involved in performing any activity to achieve common goals. Administration defines the writerity, responsibility and procedures to perform particular work.
Distinct process
Management as a process involves varied types of functions. One perform of management is interrelated with one other function. The administration clearly defines the specific process of work to achieve predetermined goal. It does not consider the trial and error approach.
Each science and art
Science is a systematized body of knowledge, principal or fact that’s experimentally proved. Similarly, art is the personal skill and ability to use the scientific principles. Management is each science and art. It is a science because it is predicated on some basic principles of common application. It is also an art because skill and ability is required for performing managerial functions.
A profession
Profession entails the particular type of work, followed by special knowledge and education. With the development of joint stock corporations and multinational firms the ownership and management has been different. Management of giant organizations has been entrusted within the fingers of professionals having particular skill and knowledge.
Multi-disciplinary in nature
Business management is multi-disciplinary in nature. Many of the ideas and techniques utilized in management are borrowed form a number of different disciples like psychology, sociology, economics and mathematics.
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