INSTITUTE OF BUSINESS MANAGEMENT

ASSIGNMENT

“WHAT IS MANAGEMENT”

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WHAT IS MANAGEMENT

The term management is derived from manage that means to manage the overall system of any society or organization where the set of people or system is to be regulated in an organized and efficient way in order to achieve any specific and pre decided objective. It gives a focused vision to the people as in which path to select what strategies are to be used and then coordination of those strategies among people and make them work on it and get the work done in best possible way. It makes people to work in team and encourages team work and group goals that leads towards the overall organizational objective. In this all scenario the constant of resources remains scarce in every case. That means organizations keep trying to optimize their limited resources with efficiency and effectiveness.In organizations it becomes the responsibility of managers to make such favorable and conducive environment for the employees to make them work competently. Manger plays vital role at every managerial level, no matter if it is first line, middle or top level the importance of manager remains same but approach and objective may vary. It is a whole process from lower to the top level of tasks that are coordinated at different levels and assigned in to the hierarchy of the levels. Therefore operational activities are done at the lowest level that may include work directly on assembly line, production, and packaging e.t.c. operational activities do vary with respect to the type of the organization it is. These activities are handled by the non managerial staff of the organization on which the supervisors are hired in order to keep tab on them and get the work done; those supervisors are actually the first line managers. At the second level that is middle managers they are responsible for the secondary activities that are not directly related to the production but supports indirectly, activities like marketing, branding, budgeting, human resource e.t.c could come under this level. At top level organization wide major decisions are taken that could include new projects of the organization, new product line, acquisition of any other firm or decisions like these that could bring grand change in the organization.Management is actually a series of continuous activities so it is a never ending process, in which the managers must have to foresee the opportunities and upcoming trends in the environment. Having the informational responsibility makes him to get information and provide the information to and from the environment. Decisional responsibility makes him to take right and wise decision at the right time where ever and whenever it is needed. Interpersonal responsibility makes him to have coordination with all managers, staff members and peers to have good relationship with them that helps him to motivate them and get better work. It is important outside the organization as well. In order to fulfill these responsibilities it is very obvious that these skills are grave need of any good manager.Thus we can say management that teaches us to handle all human, financial or physical resources of any organization and optimization of scarce resources by getting best professionals on board and providing them best physical resources and sound working condition so as to get the best result from them in return. There are four primary functions of management that are planning, organizing, staffing, leading and controlling. Management seeks to achieve co-ordination through its basic functions of planning, organizing, staffing, directing and controlling. The dynamism in management brings creativity and innovation in an organization in order to succeed in the market competently.

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REFERENCES

http://kalyan-city.blogspot.com/2011/04/what-is-management-definitions-meaning.html

http://www.managementstudyguide.com/managementprinciples_importance.htm

http://www.leadersdirect.com/what-is-management

http://guides.wsj.com/management/developing-a-leadership-style/what-do-managers-do/

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