principle and practices of management

Features of management

The fundamental features of management are: -

(i) Management is universal – principals of management can be applied universally.

(ii) Management applies to all levels of organization

(iii) Management is purposeful – it aims to achieve a specific objective

(iv) Management is concerned with productivity – this implies effectiveness and efficiency

(v) Management is an integrative process; the essence of management lies in the co-ordination of individual effort into a team.

(vi) As managers, people carry out the managerial process of planning, organizing, staffing, directing and controlling

(vii) Management involves the allocation and control of resources, human, money and other physical resources.

(viii) Management is a social process – management is done by people, through people and for people

(ix) Management is multi-disciplinary – it depends upon wide knowledge derived from several disciplines

(x) Management is a continuous process – it is dynamic and an ongoing process.  Management is an art as well as a science.

 

Importance of management

· Achievement of group goals.

· Optimum utilization of resources.

· Minimization of costs.

· Survival and growth.

· Generation of employment.

Development of the nation.

The fundamental features of management are: -

(i) Management is universal – principals of management can be applied universally.

(ii) Management applies to all levels of organization

(iii) Management is purposeful – it aims to achieve a specific objective

(iv) Management is concerned with productivity – this implies effectiveness and efficiency

(v) Management is an integrative process; the essence of management lies in the co-ordination of individual effort into a team.

(vi) As managers, people carry out the managerial process of planning, organizing, staffing, directing and controlling

(vii) Management involves the allocation and control of resources, human, money and other physical resources.

(viii) Management is a social process – management is done by people, through people and for people

(ix) Management is multi-disciplinary – it depends upon wide knowledge derived from several disciplines

(x) Management is a continuous process – it is dynamic and an ongoing process.  Management is an art as well as a science.

 

Importance of management

· Achievement of group goals.

· Optimum utilization of resources.

· Minimization of costs.

· Survival and growth.

· Generation of employment.

Development of the nation.