Coordination in Management: Coordination is the orderly synchronization of efforts by integrating and coordinating the activities of the subordinates to achieve the goals of the organization. Each business enterprise is divided into several departments and each department has many groups and individuals. Coordination in management is not a separate task, Read more…
Management vs Administration: The main difference between management and administration is that the management has the objective of implementing policies and strategies, while the administration determines the goals and important policies for the company. Management: The word “management” is derived from the word “man”, which means “hand-to-hand” Inspire and control Read more…
The role of management is to guide organizations towards goal accomplishment. All organizations are present for some objectives or goals, and managers are responsible for the combination and use of organizational resources to ensure that their organizations achieve their objectives. The roles of management are to specify the activities undertaken Read more…
Functions of management: The major functions of management performed by a manager can be classified into five separate tasks, known as planning, organizing, staffing, directing, and controlling. Behind the closed door of the manager, they spend a good deal of their time on planning and organizing, so that they can Read more…
Types of Managerial Skills: The managerial skills are the manager uses to assist the organization in fulfilling its goals. In particular, a manager will use their own abilities, knowledge base, experience, and attitude to increase the productivity of those with whom they manage. Technical work, human skills, and conceptual skills. Read more…
Levels of Management: The main levels of management are: Top-level management Middle-level management Lower-level or supervisory level, operation or management. 1. Top-level management: Top-level management includes Chairman, Board of Directors, Managing Director, General Manager, President, Vice President, Chief Executive Officer (CEO), Chief Financial Officer (CFO) and Chief Operating Officer. It Read more…
Significance/Importance of Management: The Significance/importance of management are as follows: This helps in achieving goals: It organizes factors of production, combines and organizes resources, effectively integrates resources in order to achieve goals. It guides the group’s efforts to achieve pre-determined goals. Defining clearly the purpose of the organization will not Read more…
Management process: The management process is a process for setting goals, planning, and/or controlling, and furthering any kind of activity, such as senior management of an organization is responsible for fulfilling its management process. However, this is not always the case for all the management processes, for example, it is Read more…
Nature of Management: Management is dynamic: Management has framed some theories, which are flexible in nature and change in the environment with those changes in which an organization exists. Multicultural: Management is multi-disciplinary because it includes knowledge/information from various disciplines – economics, statistics, mathematics, psychology, sociology, ecology, operational research, history, Read more…
Concept of management: The term ‘management’ has been used in various senses: 1. Management can be referred to as the process of planning, organizing, staffing, directing, coordinating, and controlling, at other times it is used to describe people as the task of managing them. It is also known as the Read more…