Nature and scope of management

Nature and scope of management

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  By: Priyanka Roy Asst.Prof(MIT) Nature and Scope of Management
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  Management:  Management isthe process involving planning, organizing, staffing, directing and controlling human efforts to achieve stated objectives in an organization.”
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  Nature of Management: Management is Goal-oriented.  Management is Universal.  Management is an Integrative Force.  Management is a Social Process.  Management is Multidisciplinary.  Management is Continuous Process.  Management is Intangible.  Management is an Art as well as Science.
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  Management is Goal-oriented: Management has no justification to exist without goals. Management goals are called group goals or organizational goals. The basic goal of management is to ensure efficiency and economy in the utilization of human, physical and financial resources. The success of management is measured by the extent to which the established goals one achieved.
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  Management is Universal Management is an essential element of every organized activity irrespective of the size or type of activity. Wherever two or more persons are engaged in working for a common goal, management is necessary. All types of organizations, e.g., family, club, university, government, army, cricket team or business, require management. Thus, management is a pervasive activity. The fundamental principles of management are applicable in all areas of organized effort. Managers at all levels perform the same basic functions.
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  Management is anIntegrative Force:  The essence of management lies in the coordination of individual efforts in to a team. Management reconciles the individual goals with organizational goals.
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  Management is aSocial Process:  Management is a social process because it is concerned with interpersonal relations. Human factor is the most important element in management. According to Appley, “Management is the development of people not the direction of things. A good manager is a leader not a boss. It is the pervasiveness of human element which gives management its special character as a social process”.
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  Management is Multidisciplinary: Management has to deal with human behavior under dynamic conditions. Therefore, it depends upon wide knowledge derived from several disciplines like engineering, sociology, psychology, economic s, anthropology, etc. The vast body of knowledge in management draws heavily upon other fields of study
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  Management is ContinuousProcess:  Management is a dynamic and an ongoing process. The cycle of management continues to operate so long as there is organized action for the achievement of group goals.
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  Management is Intangible: Management is an unseen or invisible force. It cannot be seen but its presence can be felt everywhere in the form of results. However, the managers who perform the functions of management are very much tangible and visible.
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  Management is anArt as well as Science:  Management is also a discipline involving specialized training and an ethical code arising out of its social obligations. On the basis of these characteristics, management may be defined as a continuous social process involving the coordination of human and material resources in order to accomplish desired objectives. It involves both the determination and the accomplishment of organizational goals
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  Scope of Management Production Management  Marketing Management  Financial Management  Personnel Management
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  Production Management: a) Designingthe product b) Location and layout of plant and building c) Planning and Control of factory operations d) Operation of purchase and storage of materials e) Inventory cost and Quality Control f) Research and Development etc.
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  Marketing Management: a) marketingresearch to determine the needs and expectation of consumers b) planning and developing suitable products c) setting appropriate prices d) selecting the right channel of distribution, and e) promotional activities like advertising and salesmanship to communicate with the customers
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  Financial Management: a) Selectingthe appropriate source of funds b) Raising the required funds at the right time c) Administration of earnings d) Estimating the volume of fund.
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  Personnel Management: a) manpowerplanning b) recruitments, c) selection, d) training e) appraisal, f) promotions and transfers, g) compensation, h) employee welfare services, and i) personnel records and research, etc.