Principles of Management

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Principles of Management

CONCEPTUAL FRAMEWORK OF MANAGEMENT

Management as a discipline has attracted the attentions of both academics and practitioners. The primary cause for this phenomena is the increasing relevance of management in people’s daily lives. Today’s civilization is comprised of vast and complicated institutions staffed by a large number of individuals. When compared to the previous master-servant relationship, the interaction between managers and their subordinates has become more complicated. People now have higher expectations of their employment. People have been attempting to evolve some ways and approaches in order to make all of these things work properly. Such initiatives gave rise to management as a distinct discipline.




Management nature:

1. Management is universal: management is a universal phenomenon. Various organizations need it, for example, universities, governments, military, families, clubs, companies. The basic principles of management apply to companies and other organizations.

2. Multidisciplinary: Management is basically multidisciplinary. This means that although management is developed as an independent discipline, it has drawn knowledge and concepts from different disciplines. He freely draws ideas and concepts from disciplines such as psychology, sociology, anthropology, economics, ecology, statistics, operations research, and history.

3. Management is dynamic: Management means that it is a constantly changing environment. It involves adapting the organization to changes in its environment and modifying the environment for the benefit of the organization. Therefore, management is a process of continuous growth.

4. Management Principles Are Relative, Not Absolute: Management principles are relative, not absolute, and should be adopted based on the needs of the company. Each organization may be distinct from the others. The discrepancy might be due to time, geography, or socio-cultural variables.

5. Management of Profession: Management has been considered a profession since it contains all of the characteristics of a profession, such as (a) a structured body of knowledge, and (b) a code of behavior.

6. Management is goal-oriented: The goals that must be met are those of the company. However, the truth is that the organizational objectives are set by the individuals who form, govern, and administer the company.

Management is the sum total of different steps:

Management = Policy formulation + Execution & implementation of plan + Control over the plans.

 Koontz defines management in a very simple form when he state that:

“Management is the art of getting things done through and with the people in formally organized groups.”

 McFarland defines management in a more elaborate form:

“Management is defined for conceptual, theoretical and analytical purposes as that process by which manager create, direct, maintain, and operate purposes organization through systematic coordinated. 

 Louis Allen:  “Management is what a manager does.”

 Henry Fayol: To manage is “to forecast and plan, to organize, to command coordinate, and to control.”

Management Science or Art

Management of Science:

By definition, science is a collection of information acquired via experimentation and observation, experimentally tested, and presented in the form of general principles.

1. Problem identification: It entails correctly recognising a business problem before seeking a solution. The issue might be related to funding corporate operations, coping with manufacturing delays, guaranteeing raw material supply, excessive spending or wastage, and so on. Even right solutions to the incorrect problem may serve no purpose and, if applied, may result in unfavourable outcomes.

2. Scientific investigation: It aims to investigate and assess different courses of action for resolving a given problem, while taking into account the elements important to the problem and the creation of solutions.

3.Determine the best accessible alternative: After assessing the problem from all perspectives using quantitative and non-quantitative approaches, and taking into consideration the business’s resource positions, the best viable choice is chosen to fix the problem.

4. Strict control procedure: If the judgement is consistent with and derived from the above-mentioned evidence, it is likely to be right. However, by instituting a tight control mechanism to serve as an additional check on the initial choice’s accuracy, it is assured that the ensuing series of events is exactly as predicted from the decision.

5. Universally applicable: Scientific principles may be applied in every circumstance and at any time; yet, deviations can be logically justified. Under the necessary conditions, these concepts never fail at any time or location.

Management of Art

The ability to put into action a systematized body of knowledge for the accomplishment of a specific task is referred to as art.

Management, as an art form, possesses the following characteristics:

(1) Personal skill: Aside from humans, there are other elements that have varying effects and roles in the accomplishment of managerial duties. Managers must use their abilities to cope with them.

(2) Practical knowledge: Business ventures entail risks. Only individuals with prior expertise can successfully manage such risks.

(3) A goal-oriented approach: Management as a process seeks to achieve certain objectives. It tries to make the most use of given resources by providing a pleasant environment.

(4) Individual judgement: There are no doubt helpful management concepts, but applying them correctly and at the appropriate moment requires individual judgement. It implies that art is required.

(5) Constant practice: The art of management is far older than the science of management, which is just around 90 to 100 years old as an organised body of knowledge.

 




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