Meaning of Management

The effective way of managing tasks in an organization where the goal has to be reached in a proper given time frame with very less cost, is what is meant by management. It is required for an organized life and to run all types of management. Good management is the backbone of most successful organizations. In an organization getting things with and through people to achieve its objectives is also called management. The practice of management is an age-old process that ancient civilization used to follow for managing their work. However, the study of management in a very systematic and scientific way as a distinct body of knowledge is only a recent discovery.

Meaning of Management

Management is a very essential element of a civilized organization or society but also an integral part of life when we talk about managing it. Managing life is not much different than managing an organization and this ‘art’ has been with us since time l immemorial. Just like organizing life since old times, management of work in organizations has been a very important practice which has been recently developed and fully supported by many CEOs of multinational companies. Peter F. Drucker, a noted management authority, stated the importance of management to social living. According to him, effective management was by becoming the main resource of newly developed nations. It’s the most needed resource and a manager’s job is highly crucial. This is, what is the meaning of management stands for.

Characteristics of Management

The analysis of the characteristics of management reflects the true nature of it. It is as follows:

1. Management is universal – Every organization is universal as they aim to attain management to fulfill all the activities. Therefore, we can state that management is the key to achieve goals in a systematic manner and without creating any fuss.

2. Management is an activity – Management includes both the utilization of human and machine resources for increased production. This is helpful in completing the daily task of the organization to achieve the goal.

3. Management is an organized work – An organized activity of people working to achieve a particular goal defines management as well. This is very essential to lead the organization towards achievement.

4. Management is a science and an art – Management is claimed to be science because of its universal acceptance, cause, and effect to relationships, etc. Whereas, management is also referred to as an art due to the perfection that is attained through practice, practical knowledge, creativity, personal skills, etc.

5. Management is an intangible – Management is invisible that is felt only by its results, such as increased productivity, informed decisions, and increased morale of employees.

6. Management is multidimensional – Apart from the inclusion of administration of people, it also manages work, processes, and operations.

7. Management is guidance – We all know that the main vision of management is to increase productivity through systematic methods. This cannot be achieved without proper guidance. Therefore, through proper utilization of resources, management ensures to achieve its goal.

8. Management is a career – As there exists a lot of scope, management itself can be regarded as a career. Depending upon the interest, an individual can step into any field of management, such as marketing, finance, or personnel.

9. Management is a social process – Among the other factors of management, we cannot deny the importance of human factors in it. The management is responsible to develop a close contact among employees in an organization. This is also important for smooth and healthy running of the organization.   

Conclusion

Hence, management can be stated as the process of organizing tasks in such a way that the output is always maximum whereas the minimum amount of resource is used.  It is the process of planning and organizing the resources and activities to achieve specific goals most effectively and efficiently possible. Good management is the backbone of most successful organizations. The importance of management in any organization emphasizes addressing a certain group of management development specialists and that is management meaning.