Q. 1. Discuss the concept of management. Explain its importance. Or Define management. Discuss its objectives and importance. Or Explain the objectives of management.

 Management refers to the art of getting the things done through others. It deals with the human element of an organisation and aims at achieving the goals and objectives of the organisation. Management plays a key role in utilising the scarce resources of an organisation both effectively and efficiently. The concept of management revolves around the inter-relationship between its functions and its impact on the utilisation of various resources. Management is concerned with effective and efficient integration and coordination of available resources to achieve organisational goals and objectives. Management aims at achieving personal and organisational goals through proper planning, organising, staffing, directing and controlling. Various authors have defined management in different ways. Following are some important definitions of management given by some known authors.

"Management is the process of designing and maintaining an environment in which individuals working together in groups, efficiently accomplish selected aims."

— Harold Koontz

"Management is the process by which a co-operative group directs actions towards common goals. "

—Joseph Massie

"Management is that process by which managers create, direct, maintain and operate purposive organisation through systematic, coordinated and cooperative human efforts." 

— McFarland 

"Management is the coordination of all resources through the process of planning, organising, directing and controlling in order to attain stated goals."

 —Henry Sisk

 "Management is a social and technical process that utilises resources, influences human actions and facilitates changes in order to accomplish an organisation's William goals.

"Management is a process of working with and through others to achieve organisational objectives in a changing environment, central to this purpose is effective and efficient use of limited resources,'  

"Management is a distinct process consisting of planning, organising, staffing, directing  and controlling performance to determine and accomplish stated objectives by the use of human beings and other resource

"Management is principally the task of planning, coordinating, motivating and controlling the efforts of others towards a specific objective.'   . —James L . Lundy

Characteristics of Management 

 (i) Management is a goal oriented process. Management unites the efforts  of individuals in the organisation towards achieving the organisational goals. 

(ii) Management is all pervasive. Management is required in all types of organisations— Economic, Social or Political.

(iii) Management is multidimensional.

It has three dimensions: 

(a) Management of work, i.e., activities to be performed for achieving  common goals.

(b) Management of people, i.e., individuals working in the organisation to achieve those common goals. 

 (c) Management of operations. Production process involving flow of  inputs and available technology to produce desired products or  services.

 (iv) Management is a continuous process. The process of management is a  series of continuous, composite, but separate functions which includes  planning, organising, staffing, directing and controlling. 

(v) Management is a group activity. Management deals Niith a group of individuals with different capabilities and needs, and coordinates their  efforts in a common direction. 

(vi) Management is a dynamic function. -It has to adapt itself to the everchanging environment.  

(vii) Management is an intangible force that cannot be seen, but its presence can be felt in the way it functions to attain the organisational goals.

Objectives of Management

I. Organisational Objectives 

(i) Survival. Survival is the most important objective. An organisation must earn enough revenues to cover costs.

(ii) Profit. Mere survival is not enough. The management must ensure that  the organisation makes a profit. It is essential to cover costs as well as  risks of business.

(iii) Growth. A business. must grow to improve its prospects in the long-run. 

Il. Social Objectives

These involve creating economic value for various constituents of society. Social objectives may include:  

(i) conservation of environment and natural resources. 

(ii) giving employment opportunities to the disadvantaged sections of society. 

(iii) providing basic amenities like schools and creches for employees'    children.

 (iv) ' avoidance of anti-social and unfair trade practices.

(v) conducting business in a lawful manner. 

III. Personal or Individual Objectives. Organisations are made up of people  who have different personal backgrounds,' experience and objectives.

Management should be able to reconcile personal goals with the organisational objectives for harmony in the org. 

Personal objectives may include:

(i) Fair and competitive remuneration for the work performed.

(ii) Good working conditions.

(iii) Opportunities for personal growth, training and development.

(iv) Job security and provision for social security.  (v) Job satisfaction, recognition etc. 

 Importance of Management:

(i) Helps in achieving group goals. Management helps in achieving the  overall objectives of the organisation by providing a common direction to   the individual efforts.

(ii) Increases efficiency. Management increases efficiency by optimum  utilisation of available resources through proper planning, organising, staffing, directing and controlling. 

(iil) Creates a dynamic organisation. Management establishes a dynamic and sound organisation, which adapts to the ever-changing environment so that the organisation may be able to maintain its competitive edge.

(iv) Helps in achieving personal objectives. Management helps individuals to achieve their personal objectives while contributing to the common organisational objectives.  

(v) Helps in the development of society. Management helps in the development of a sound organisation and through that it helps in the growth and development of the society. It- provides good quality products and services, creates employment opportunities, adopts new  technologies for the greater good of the people. 

 Functions of Management: 

(i) Planning. Planning is deciding in advance what is to be done It is the primary function of management, i.e., the first function performed by  every manager and is the base of all Other functions. It involves the selection of objectives, policies, procedures and programmes. 

(ii), Organising. Organisation is the process of identifying and grouping the   work to be performed by defining and delegating responsibility and  authority and establishing relationships. It is done for the purpose of enabling people to work as a group most effectively for 'accomplishing organisational objectives. 

(iii) Staffing. Staffing is a managerial function of hiring and developing the required number of employees to fill in various positions in the organisation. The main purpose of staffing is to have the right man for the right job at the right time.

(iv) Directing. Directing is the 'actuating function' of management. It includes all those activities which are designed to encourage a subordinate to work effectively and efficiently,

 The process of direction includes four elements:

(a)  Motivation (b) Leadership (c) Supervision and (d) Communication,

(V) Controlling. Controlling is monitoring what is being accomplished by evaluating the performance and, if needed, applying corrected measures so that the performance takes place according to plan.