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, etc. The nature of Management integrates ideas and concepts taken on these subjects and presents new concepts that can be done. To be brought into practice for the management of organizations.
Relative, Absolute Principle: Management principles are relative not absolute, and should be implemented according to the needs of the organization. A special management theory has different strengths under different circumstances. Therefore, according to the prevailing conditions the principles should be implemented.
Management: Science or art: Management like other practices- whether it is a medical, musical composition, or even accounting. Know how to do it, yet the manager can work better by using organized knowledge about management. This is the knowledge that constitutes science. Thus, management is an art form of practice; The underlying knowledge of practice can be referred to as science.
Management in the form of a profession: Many people have considered a profession as a profession, while many have suggested that it has not achieved the status of the profession. This concludes that some criteria management is actually a profession, but it is not by other criteria. Today we can see many indications that management is working towards increased professionalism.
Also read | Importance of management
Management is universal: Management is a universal phenomenon. However, management principles are not universally applicable, but to be modified according to the needs of the situation. Management is essential for the effective performance of any organized activity. Thus, it is universal in nature. There are universal applications in management theory and techniques. They can be applied to all types of organizations.
Management is purposeful: Management is a goal-oriented activity. For example, the purpose of managing a business is to satisfy the customer, earn profit and increase the goodwill and business image. If there are no pre-determined goals or objectives, there is no need for management. The success of management is judged by the extent to which the organizational goal is achieved.
Also read | Levels of management
Management is a process: Management is a process that involves some tasks like planning, organizing, staffing, direction, and control. These tasks require special knowledge and skills for their efficient performance. They are consistently performed by the organization at all levels of management.
Management is intangible: Management is called an unseen force, its presence appears due to the order of its efforts, the information of the employees, the intelligent sense, and the result of adequate work output. Thus the management’s spirit is result-oriented. The functioning of the management can not be seen with the naked eye. But its results are clearly known. People often comment on the effectiveness of the management on the basis of the final result, although they are unable to see it during the operation.
Also read | Functions of management
Management is a group activity: Management is an integral part of any group activity. This includes the use of group efforts in search of well-defined goals or objectives. It can not exist independently from the group or organization that manages it.
Also read | Roles of management