Management is essential in all organised efforts, be it a business activity or any other activity. Principles of management are now universally used not for managing business organisation, they are also applied to various other type of organisations, such as educational, social, military and Government.
Management is a critical element in the economic growth of a country. By bringing together the four factors of production management men, money, material, and machines enables a country to experience a level of economic development. Peter Drucker rightly observes that without management, a country’s resources of production remains resources and never become production.
Management is the dynamic, life-giving element in every organisation. It is the element that coordinates current organisational activities and plans future ones. In the words of Claude S. George, management is “the central core of our national as well as personal activities, and the way we manage ourselves and our institutions reflects with alarming clarity what we and our society will become.”
Definition
Management is a wide term. It is described as an “activity”, a “process”, and a “group of people” vested with the authority to make decisions.
As used most commonly ,the term management is the process of reaching organizational goals by working with and through people and other organizational resources.A comparison of this definition with the definitions offered by several contemporary management thinkers indicates broad agreement that management encompasses the following three main characteristics:
1. It is a process or series of continuing and related activities.
2. It involves and concentrates on reaching organizational goals
3. It reaches these goals by working with and through people and other organizational resources.
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