All activities performed by a manger to get things achieved through others are known as management. In different words, management is to manage human and other resources tactfully for the achievement of organizational goals. It’s common in all organized activities. It’s an exercise of harmonizing men, money, machines, supplies and strategies towards fulfilling the defined objectives.

Check our list of traits of enterprise management

Goal oriented

Every organization is established for a selected objective. Management is an instrument or system that contributes for the environment friendly use of human and different resources to achieve predetermined objectives. The principle goal of business management is to maximise productivity with optimum use of human effort.

Universal activity

Management is essential where human activity exists. The process of enterprise management could also be totally different from organization to group however the primary principles of management are same. It may be said that the management ideas are universally applicable.

Social process

Business management is a part of social process. Management achieves its goals by, with, and thru the people. It utilizes human resources for the achievement of organizational goals. Management has to consider not only the organizational targets but in addition the social objectives. It has to fulfill the wants of staff within the organizational resources.

Dynamic/modifiable activity

Management is a dynamic and steady process. The management system of at the moment might not be applicable or effective for tomorrow. Therefore, management should be dynamic and flexible with the altering environment of the society. Management has to change its type according to the time and situation. This flexibility is essential for an organization to adjust with the altering environment of the business.

Group activity

The concept of enterprise management just isn’t applicable if there’s only one individual or proprietor. It represents a group, class or part of individuals involved in numerous managerial functions. It is essential if there is a group of individuals involved in performing any activity to achieve common goals. Management defines the creatority, responsibility and procedures to perform specific work.

Distinct process

Management as a process involves varied types of functions. One perform of management is interrelated with one other function. The management clearly defines the specific process of work to achieve predetermined goal. It does not consider the trial and error approach.

Each science and art

Science is a systematized body of knowledge, principal or reality that’s experimentally proved. Equally, artwork is the personal skill and ability to use the scientific principles. Management is both science and art. It’s a science because it relies on some fundamental rules of common application. It is also an artwork because skill and ability is required for performing managerial functions.

A profession

Profession involves the specific type of work, adopted by particular knowledge and education. With the development of joint stock companies and multinational corporations the ownership and management has been different. Management of huge organizations has been entrusted in the palms of professionals having particular skill and knowledge.

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