Management is a function, discipline, a task to be done, and managers practise this discipline, carryout the functions and discharge these tasks.
Peter F. Drucker
In order to satisfy one's wants he/she has to perform numerous activities. An individual alone cannot perform all the necessary activities. Therefore, individuals have to join together in the form of organisations or groups. Every organisation is basically a group of people seeking to attain some common objectives. A central agency is required to co-ordinate the activities and efforts of various individuals working together in the organisation, so that, they can work collectively as a team. Such an agency is called 'management'.
Management is a vital element in the economic development of a country. It enables a country to experience a substantial level of economic development by bringing together the basic resources, namely, men, materials, machines, methods, money and markets. It is the management that transforms the various resources into a productive entity. The inputs of labour, capital and materials do not by themselves ensure growth. It is the management that co-ordinates various factors of production. Therefore, management occupies a central place among productive factors.
Peter F. Drucker (1909-2005)
Peter Drucker is the world's most widely read and influential thinker on business and management. He is known as the father of modern management. His knowledge of modern management is nothing short of encyclopedic His sad demise in the year 2005 has left behind a wide gulf in the field of management.
Meaning and Definitions
Magement is the art of planning, organizing, directing and controlling the ales of an orgussion for effective utilisation of human and material recesse the objectives of an enterprise. It is the art of getting things done through
The term management has been used as a 'noun, as a "process" and as a discipline. As a noun, management refers to the individuals who perform the mariagerial Job Le managers. As a process, management means a series of functions like planning, organising, controlling, co-ordinating, etc. As a discipline, it means an organised body of knowledge that can be taught and researched Le., a branch of shady
Mary Parker Follet defines management as "the art of getting things done throughpeople."
According to Peter F. Drucker "Management is a multi-popene organ that manages a business, manages managers and manager worker and work
Importance or Significance of Management
Management is a dynamic element which gives life to a business enterprise. It's important on the following grounds
1. Management focuses on efficiency and effectiveness: It gives stress on ber equipments, plants, offices, products, services and human relations. These facton increase effectiveness. To secure efficiency of operations, management has a reduce cost of production and increase output.
2. Brings order in an organisation: People in an organisation may vary with respe to their educational qualifications and values. So their style of functioning an management may be different. Hence, the management must direct all the activitie towards the attainment of common objectives.
3. Optimum utilisation of resources: Management effectively utilises and controls all the factors of production like men, materials, money, machine and methods. The efficient use of these resources depends upon the efficiency and motivation of workers. Managers guide and motivate worker towards best performance. They a team spirit, mutual co-operation and a sense of responsibility among workers.
4. Meet the challenges of change: Management enables an organisation to face the challenge of change. Managers maintain a dynamic equilibrium between an enterprise and its environment through innovation and creativity. Thus, the complexities of modern business can be overcome through management.
5. Determination of objectives: The success of various operations of an organisation mainly depends on identification of its objectives. Objectives are identified and laid down by the management. Thus, management enables an enterprise to achieve its desired objectives through proper planning and control.
6. Economic growth: The efficient and effective management of scarce resources leads to economic development and growth. Efficient management leads to greater and more economic production for the society.
7. Achievement of group goals: Along with the attainment of the individual goals of each managerial personnel, management must ensure efficiency through the efforts of the group to attain the overall goal of the organisation.
8. Stability: Management co-ordinates the activities of the different departments in an enterprise and establishes team-spirit amongst the personnel. It directs and controls the organisation to keep it in the right track. It ensures the survival of an organisation in a fast changing environment.
9. Human development: Management improves the personality and calibre of people to raise their efficiency and productivity. A good manager provides suitable to his subordinates to develop their talents.
Effective Management
Any organisation should have effective management inorder to achieve in objectives. Effective management is also known as 'iranagerial effectiveness. However, managerial effectiveness is defined in different ways, and various terus like) effectiveness, efficiency, productivity, goal-achieving, etc. are used interchangeably Two terms which are used quite closely and sometimes even interchangeably are efficiency and effectiveness.
Meaning and Definition
Effective management is the ability of a manager to achieve the desired goals organisation by applying his skills and abilities in guiding and directing the subordinates under him. Managerial remilts can be measured by measuring the resul that a leader achieves. An effective leader must adapt his communications, work styl and approach to the organisation's culture to ensure that his skills are aligned with the organisational goals, inorder to achieve positive results. Effective management can be defined as, "the success level that a manager reacheand the competitive edge that his organisation gains against rival organisations. ( applying his managerial ability, styles and akifix in guiding, directing the subordinas under him and developing effective communication system within the organisation"
Elements in Managerial Effectiveness