Answer: Management is the process of managing all things tactfully by the manager to achieve the organizational goal efficiently and effectively.
What is Management?
Management is the mixed up of three words, Manage + Men + T for Things / Tactfully. On combining all words, We can say that Management is the process of managing all things tactfully by men. The man who will do managerial work will be a manager. So, now the definition of management becomes, “Management is the process of managing all things tactfully by the manager”.
But this is not the complete information about the process of management. Because this statement does not say why things should be managed, and how things can be handled tactfully. For, this we have to understand the actual meaning of management. What is the concept of management? It will help to understand, “What is management?”
What is the concept of management?
Answer: There are three basic elements in the concept of management, which are:
1. Management is a Process
Management is a process since it includes several interconnected responsibilities such as planning, organizing, staffing, directing, and controlling.
- Just think, before starting any business, we plan to know the organizational goal that comes in the planning process.
- Then we organize things to smooth the work, which comes under the process of organizing.
- Then we invest time in labor, staff, or human resource requirement; which comes in the process of staffing.
- Then a manager directed, leads, and motivates employees to get the organizational goal, this process is the process of directing.
- And after these 4 functions, the manager controls all things to avoid mistakes. This process is the process of controlling.
So, these endless 5 functions always run continuously in the process of management. So, management is not only a process, it is a continuous process.
2. Management requires ‘Effective’ performance
The word “Effective” means work on time. Management expects ‘Effective’ performance because it is concerned with completing the right task at the right time. It is not enough to just complete the task properly. There are time limits. Work should be completed in a planned time.
For Example, if a firm got a task to supply 1000 packets after a month. But the firm only focuses on the quality of the product, not time. That results that the firm producing only 800 packets in those 30 days. So, the firm is not said to be effective. If the firm also takes care of time, then it will be able to supply 1000 packets in just 30 days.
3. Management needs ‘Efficiency’
‘Efficiency’ means doing tasks with minimum wastage. Management needs efficiency as it is also concerned with completing the correct task with the minimum cits, which means proper utilization of resources. Effectiveness and efficiency, both are important for an organization.
For Example, Let’s take the same example that we have read above. Now, the firm is effective. It completes the production of 1000 packets in 25 days, which is very fast. But to complete the task on time, the firm hired more employees, which increased the cost.
If the firm is effective, completing the task on time, but not getting profit or getting very dismal profit, then what will be the benefit of being effective only?
This example proves management is not easy. The manager has to take care of the firm’s effectiveness and efficiency. If the firm had not hired excess employees and targeted to complete the job in 30 days, which was required, then it will be both efficient and effective.
What are the keywords in the definition of management?
- achieve organizational goals
What is management’s easy answer?
Answer: Management is the group process of achieving a common goal through proper planning and execution.
What is the 5 definition of management?
1. Management is the process of getting things done effectively and efficiently.
2. Management is the process of group planning and execution to accomplish and achieve a common goal.
3. Management is the process of interrelated functions like Planning, organization, Staffing, Directing, Staffing, and Controlling.
4. Management is the act of planning and organizing things to fulfill a given organizational objective.
5. Management is the process of managing human resources, finances, materials, and information to achieve group objectives.
What is Management by the different Authors?
1. “To manage is to forecast and to plan, to organize, to command, to co-ordinate and to control.” – Henry Fayol
2. “Management is the force which leads, guides, and directs an organization in the accomplishment of a pre-determined object.” – J.N. Schulz
3. “Management consists of getting things done through others. Manager accomplishes the objectives by directing the efforts of others.” – S. George
4. “Management is a multi-purpose organ that manages the business and manages managers and manages workers and work.” – Peter F. Drucker
5. ” Management is an art of getting things done through and with the people in formally organized group.” – H. Koontz
6. “Management is the function of executive leadership anywhere.” – Ralph C. Davis
7. “Management is principally a task. of planning, motivating and controlling the efforts of others towards a specific object.” – James Lundy
All important questions of Business Studies related to the term what is management.
1. What is meant by ‘Effectiveness’ in management? [CBSE, Delhi 2011 (III), 2015 (III), All India 2019 (II)]
Answer: Effective management means executing the proper tasks at the right time to achieve the organizational objective within the specified time.
2. What is meant by Management? [CBSE, Delhi 2011 (I, II)]
Answer: Management is meant by the process of managing things tactfully by the manager to complete the target of organizational goals effectively and efficiently. This becomes the perfect definition of management as it shows what management is, for what management is done, from whom it is done, and how it can be done.
3. Name the process of designing and maintaining an environment, in which individuals working together in groups efficiently accomplish selected aims. [CBSE, Delhi 2008]
Answer: Management. As Management is the act of creating and sustaining an environment in which individuals working in groups efficiently achieve certain goals.
4. Name the process of working with and through others to effectively achieve organizational objectives by efficiently using its limited resources in the changing environment. [CBSE, All India 2008]
Answer: Management as management is the act of working with and through people to effectively achieve organizational objectives by efficiently utilizing the organization’s limited resources in a changing environment.
5. “Successful organizations do not achieve their goals by chance but by following a deliberate process”. Identify the process highlighted here. [CBSE, Sample Paper 2019]
Answer: Management because even successful organizations fail to fulfill their objectives in the absence of good management.