What is Management?
Management is generally defined as a process which the interlocking function of planning, organizing, controlling, decision making, and directing an organization's resources such as human resources, financial, physical, and information. It consists of several interwoven competencies or distinct types of features such as setting and reaching goals in an effective and efficient way.
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5 Principles of Management
- Planning: A process of choosing appropriate goals and actions to pursue and determining what strategies we can use, what actions we can take, and deciding what resources are crucial to achieving the goals.
- Organizing: A process of coordinating task goals and activities to resources, that is to say, concertedness.
- Controlling: It can be briefly defined as taking into account (an extraneous factor that might affect results) when performing an experiment. That is, improving performance, taking actions, and so on.
- Directing: Directing is to be the heart of the business process in which the managers or administrators guide, instruct, and oversee the performance of the workers to achieve predetermined goals.
- Decision Making: It is the process of identifying and choosing alternatives based on the values, preferences, and beliefs of the decision-maker. At the end of the decision-making process produces a choice that may or may not prompt action.
Is Management Associated with Group Efforts?
Yet there remains some disagreement as to whether management is associated with group efforts. Although it is seen as appealing to many people, there are advantages as well as disadvantages because people as individuals manage many personal affairs, the group emphasis of management is universal. It should not be forgotten that it is often associated in places of work but it is actually from personal to relationships, from the house to your workplace to profitable organization and to non-profitable organizations.
Is Management an Art or Science?
People often wonder whether it is an art or science, in fact, similar to each other and it will continue to be a subject of debate. Yet most of thinkers agree that some form of formal academic management background helps in managing successfully. Therefore, the reason for including business degree programs in all academic institutions.
Organizational Structure for Management
Organizational structure is an important point for driving the business forward, on the other hand, it is true that every organization has a structure. But no matter the organizationally specific title, organizations contain middle, top managers, and sub-committees. Generally, the senior management team is a CEO and a board of director levels. As can be seen clearly, visualize a pyramid model. The more you move toward the top of the pyramid, the fewer managers you have. All of these management roles have specific tasks and duties.
This article is about Management, you may also want to look at What is Business Management?