It is not governed by the laws of mechanics. The top management is the ultimate source of authority and it manages goals and policies for an enterprise. In other words, science provides the theory, principles and the laws on any branch of human knowledge. The manager of today has to encourage, communicate, develop and stimulate his employees to secure higher output. Management is a developing science. Management has to evolve an optimum combination of these resources or inputs. An analysis of management process will enable us to know the functions which managers perform. It also implies that change is a constant reality of organisational life and management is the management of change. Even then theoretical base of knowledge is essential for developing sound practice. But before you learn these principles you need to first understand the basic concept of management and its principles. One way to analyse management is to think in terms of what a manager does. Difference between Administration and Management. As management is the process of getting things done by people, managers should understand human behaviour. Comments. The art of management is fully reflected in the decision making capacity of a manager. Power is easy to feel but difficult to define. Thirdly it states that manager uses people and other resources. Since, 1951, we have even specialised schools of management offering master’s degree in business management and administration. (3) The resources are co-ordinated and integrated by the management through performing the typical managerial functions, viz., planning, organising, staffing, directing, motivating, communicating and controlling. Content Filtration 6. This page was last edited on 26 November 2020, at 13:13. Uses Art is not only based on knowledge but it derives its inspiration through intuition, inspiration and such other purely subjective attributes. Management has been defined by several theorists in their own way. ", "Management is the process by which co-operative group directs actions towards common goals. (4) Systems approach concentrates on the entire organisation, i.e., inputs-process-outputs. Managerial revolution has brought about separation of management from ownership in corporate management in all countries slowly but steadily. (5) As people are our greatest resources, management has a special responsibility to create favourable work environment and ensure maximum employee morale and productivity. Plagiarism Prevention 5. Authority to manage and control business operations is delegated to professionally-qualified managers. => individual Psychology. Many of these concepts are based on the principles developed by Henri Fayol. (7) Classical or bureaucratic management is appropriate where the environment is relatively unchanging. Definition of Management. From Wikibooks, open books for an open world, https://en.wikibooks.org/w/index.php?title=Management_Concepts_and_Applications/Management&oldid=3774223, Book:Management Concepts and Applications. The phenomenal progress of Ford Motors, IBM, etc, bears testimony to their quality of leadership and management. Thus we substitute motivation for command. Marketing Management . Basics of starting a business. And fourthly, it states that management involves the act of achieving the organization's objectives. Any one used it to get things done in his own way. Most of these resources are scarce and have alternative uses. Davis, “Supervisory management refers to those executives whose work has to be largely with personal oversight and direction of operative employees”. It is the art of getting things done through other people. By introducing two modifications in Fayol’s concepts, we could easily install the foundation of modern management theory: (1) Management is the planning, organising, command, co-ordination and control of technical, financial, commercial, accounting and security activities. Direction and command are not enough to get things done through people. It attempts to describe management in terms of what a manager does, and not what management is. In the process, work is performed with and through personnel of the organisation in an ever-changing business environment. To implement the plans there must be some organisation structure. It consists of a set of interrelated operations or functions necessary to achieve desired organizational goals. Corporations have now social conscience and awareness. Management literature is growing in all countries. The strategic management process entails several concepts and issues that need clarification for your better understanding. Report a Violation 11. Interpersonal B.A. Without an objective, we have no destination to reach or a path to follow to arrive at our destination, i.e., a goal, both management and organisation must be purposive or goal-oriented. 1. In the words of K.K. Judgment and imagination are essential even in a computerised economy. Motivation is an integral part of direction to assure desired results. A computer cannot replace a manager in decision making. Work specialization. a systematic way of doing things. The pattern of management that developed in Du Pont Company had a far-reaching influence on modern business enterprise. Administration involves "thinking" and management involves "doing". Management is not a onetime act but an on-going series of interrelated activities. A process is a systematic way of doing things. Followers of Fayol gave other principles of management such as universality of management, control by exception, equality of authority and responsibility, power and accountability and co-ordination. the five functions of management ensures the organization runs smoothly.these five functions are : Human Relations, Leadership or Behavioural Science Approach. This definition brings in two elements namely accomplishment of objectives, and direction of group activities towards the goal. The knowledge is verifiable through experiments giving us the cause-effect phenomenon. It should be the basis of our study of the principles of management. The basic ingredients of management are always at play, whether we manage our lives or business. For example a manager who wants to increase the sales, might try not only to increase the sales force, but also to increase advertising budget. Management means many things to many people . While certain aspects of management make it a science, certain others which involve application of skills make it an art.