Components & Features of Management

Principle & Practice of Management

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Components & Features of Management

Management Features

Components of Management

1. Organizational activity:  Management is a group activity. Management is to coordinate the actions and reactions of individuals.
2. Goal formation:  Management has some defined goals before it to achieve. Goals are set considering the actions and reactions of individuals.
3. Goal accomplishment and evaluation:  Management also evaluates the effectiveness of goal accomplishments.
4. Organizational survival:  Managers are expected to use the resources available to them as efficiently as possible to guide the survival of an organization in the competitive world. The ability to forecast and adapt to change are also important components of management for organizational survival.
5. Implementation: Action is the creed of management. Policies and programs are implemented by management.

Management Features

Following are certain Management Features which illustrate the wide breadth of scope of management.
1. Universal process: Management is a universal process which is applied in all types of institutions—social, religious, commercial, political, etc. Every organization and institution whose object is to achieve its objectives and goals through group efforts need planning, coordination, direction, and control, i.e., management.[ Management Features ]
2. An integrative process: The essence of management is the integration of human and physical resources in a manner that it leads to effective performance. Managers apply knowledge, experience and principles for getting the results. Management seeks to harmonize the individual goals with organizational goals.[ Management Features ]
3. Dynamic function: Management is a dynamic function of business organizations. Its functions change from time to time depending upon the circumstances of the business, i.e., changes in economic, social, political, technological and human conditions. Management adjusts itself to the changing atmosphere—making suitable forecasts and changes in the policies.[ Management Features ]
4. Social process: Management is a social process as it primarily deals with emotional/dynamic and sensitive human beings. The major achievement is to win their confidence and cooperation. Thus, making it difficult to precisely define the principles of management. Management principles are constantly influenced by social traditions, customs, and
regulations.[ Management Features ]
5. Management makes things happen: Managerial ability is distinctly different from technical ability. Management is the art of getting things done through people. It implies that under given set of constraints or problem boundaries how positive results can emerge, by taking well-defined actions.[ Management Features ]
6. Management is a multi-faceted discipline: Management has to deal with heterogeneous resources. Their performance depends upon the proper knowledge and skill of various disciplines. Management has grown as a body of discipline taking the help of so many social sciences like—Anthropology, Sociology, Psychology’ etc. Due to this, management is also known as a “Behavioural Science.”[ Management Features ]
7. Management is a science and an art: Management is a science because it has an organized body of knowledge which is based on facts and certain universal truths. It is an art because of certain skills, essential for good management, are unique to individuals. So many times managers act on instinct. It is also about interactions which cannot be laid down in black and white.[ Management Features ]
8. Intangible force: Managerial ability is an intangible force; it is a social skill which cannot be seen with the eyes but it is evidenced by the quality and level of an organization.[ Management Features ]