What is Management? 2022– Explained Its Meaning Features And Functions!

What is Management?

Management is the process of getting things done with the help of other people. This is done through basic tasks like planning, organizing, directing, coordinating, and controlling. It is what every organization is built on. A business can’t run for a long time if all of its devices aren’t managed well.

In other words, management is the act of bringing together the 5Ms (man, money, materials, machines, and methods) so that goals and objectives can be met.

Let’s get into it,

A lot of businesses fail in their first few years. In almost all of these cases, the failure is due to bad management and lack of experience. Individuals and the economy as a whole pay a high price for bad management.

When a business fails, not only do money and physical resources go to waste, but people also get hurt emotionally. Good management practices make it clear that business failure can be avoided. This is one reason why management is becoming a more important topic.

There are both big and small businesses in the national economy. In these organizations, people work together to reach goals that are too hard or too many for a single person to reach.

People have to talk to schools, hospitals, banks, colleges, businesses, universities, and many government agencies over the course of their lives. The management of these organizations is the most important thing that determines how well they do and how successful they are.

Why do some managers do a good job while others don’t? This question needs a full answer, so we should look at a number of things that affect the success of managers.

We could just say that good managers are those who can do the basic tasks of management well (planning, staffing, organizing, coordination, and controlling). We should also note that good managers make it easier for people inside and outside the organization to work together and get along.

Management is all the things a manager does to get things done through other people. Also, management is about using people and other resources in a way that helps the organization reach its goals.

People who are part of an organization should work together and help each other to reach the goals of the organization.

All scholars agree on one thing: management is about making sure the organization’s goals are met through the work of other people.

So, management is the process of planning, organizing, influencing/directing, and controlling the use of people and other resources to reach the goals of an organization.

Features/Characteristics of Management

Management is characterized by the following characteristics/features:

Management is Goal Oriented

What is Management?- Management is goal oriented
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Every business is built with a specific goal in mind. Management is a tool or system that helps people and other resources work together effectively to reach goals that have already been set. Its main goal is to get the most work done with as few people as possible.

Management is Universal Activity

It is important wherever there are people. It is important for all kinds of groups. Management may look different from place to place and organization to organization, but its basic principles are always the same. So, we can say that management principles can be used everywhere.

Continuous Process

It is a process that goes on as long as the organization exists and works. For an organization to do its best now and in the future, its manager must be able to handle all of its tasks well.

Social Process

It is a part of how people live together. Management meets its goals by, with, and through the people who work for it.

It uses human resources to help the organization reach the goals it has set. It has to take into account both the organizational goals and the social goals. It should meet the needs of the employees in terms of organizational supplies.

Dynamic/Modifiable Activity

It is a process that is always changing. A management system used today might not work or be useful tomorrow.

Because of this, it needs to be dynamic and able to change as society does. It has to change its styles depending on the time and place. This is important for an organization to be able to adapt to the changing business environment.

Group Activity

Group activity
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When there is only one person or titleholder, the idea of management is not important. It refers to a group of people who are in charge of more than one management task.

It is important if a group of people are working on something together to reach the same goals. It says who has the right to do a certain job and how it should be done.

Distinct Process

It is a process that includes many different tasks. Every part of management is linked to the other parts. It makes it clear how work should be done to reach goals that have already been set. It doesn’t think about trying things out and seeing what works.

Both Science and Art

Science is a systematized body of knowledge, a set of rules, or a set of proven facts. In the same way, art is the skill and ability of an individual to use scientific principles.

Both Science and Art go into management. It is a science because it is based on a set of basic rules that can be used anywhere. Management is also an art because it requires skill and talent to do the job well.

A Profession

The job requires a certain kind of work, as well as special knowledge and training. As joint-stock companies and multinational companies have grown, ownership and management have changed. Professionals with the right skills and knowledge are put in charge of running large organizations.

Multi-Disciplinary in Nature

It involves many different fields of study. A lot of the ideas and methods used in management come from other fields, such as psychology, sociology, economics, and math.

Functions of Management:

So far, we know what management is and what its traits are. Its main tasks are planning, organizing, staffing, directing, and controlling, all of which are meant to help the organization reach its goals.

Planning

Planning
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Planning is the most important and important part of management. It involves deciding now what to do in the future to reach the goals that have been set. The job of every manager is to make the best plan possible so that the goals can be met in the easiest and least expensive way.

It has been found that the better the planning, the better the results will be in the future. A manager can take a series of steps to make a better organizational plan. The first step is to set goals, then choose the best option from the ones that are available, and then put the plan into action.

Organizing

Organizing
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As has already been said, it is the job of management to make sure that people, money, materials, machines, and methods are all in order. When these things are put together in the right way, people in the organization do well.

If an employee is able to do a good job but doesn’t have enough power, he should be given enough power to make it happen. The manager should, however, make sure there is a good balance between power and responsibility. The employee should get resources based on what they know, what skills they have, and so on.

Staffing

Just think about how well you’ll do your job if you’re given an accounting job when you’re really a marketing pro. Definitely not good is the answer.

The opposite of that is staffing, which is giving someone a job that fits their skills, knowledge, experience, and competencies best. It means giving the right person the right job so that person can do the best job.

Directing

All the people in the organization might not know how to do things well. So, in this case, the manager’s job is to lead and tell them what to do so that they can put their efforts toward achieving the goals. This is called directing.

Directing is a hard job because everyone has different skills, knowledge, and other traits.

Controlling

So far, the management tasks we’ve talked about have been about setting organizational goals and giving them to employees. During the period of implementation, different things like organizational resources, structure, market conditions, competition, and new situations can make it harder or easier to reach those goals.

Here, “controlling” means keeping an eye on the actual performance, figuring out if it meets the standard (what’s expected), and if not, taking steps to fix it so that the goals and objectives can be reached again.

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Conclusion What is Management? 2022

Effective management is the one thing that all organizations that do well have in common. Effective management of people, resources, and methods, making good plans, giving good direction, making sure things work well together, encouraging people to take charge, controlling, and so on.

It is the key to the success of an organization. Its functions and principles work best when they fit well with the goals and objectives of the organization. Lastly, but most importantly, management is the most important part of every organization and is never overlooked.

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