All activities performed by a manger to get things finished by way of others are known as management. In other words, management is to handle human and other resources tactfully for the achievement of organizational goals. It’s universal in all organized activities. It is an exercise of harmonizing males, money, machines, materials and strategies towards fulfilling the defined objectives.

Check our list of traits of business management

Goal oriented

Every organization is established for a specific objective. Administration is an instrument or system that contributes for the efficient use of human and different resources to achieve predetermined objectives. The principle objective of business administration is to maximize productivity with optimum use of human effort.

Common activity

Administration is essential where human activity exists. The process of business administration may be different from group to organization but the primary ideas of management are same. It can be said that the management principles are universally applicable.

Social process

Enterprise management is a part of social process. Administration achieves its goals by, with, and through the people. It utilizes human resources for the achievement of organizational goals. Administration has to consider not only the organizational targets but in addition the social objectives. It has to fulfill the wants of staff within the organizational resources.

Dynamic/modifiable activity

Management is a dynamic and steady process. The administration system of immediately may not be applicable or effective for tomorrow. Subsequently, management should be dynamic and flexible with the altering atmosphere of the society. Management has to switch its style according to the time and situation. This flexibility is essential for a corporation to adjust with the altering environment of the business.

Group activity

The idea of business management is not applicable if there may be only one individual or proprietor. It represents a crew, class or section of people concerned in varied managerial functions. It’s essential if there is a group of individuals involved in performing any activity to achieve frequent goals. Administration defines the authority, responsibility and procedures to perform particular work.

Distinct process

Management as a process involves various types of functions. One function of management is interrelated with another function. The administration clearly defines the specific process of work to achieve predetermined goal. It doesn’t consider the trial and error approach.

Both science and artwork

Science is a systematized body of knowledge, principal or reality that is experimentally proved. Similarly, art is the personal skill and ability to apply the scientific principles. Administration is each science and art. It’s a science because it is predicated on some basic principles of universal application. It’s also an artwork because skill and ability is required for performing managerial functions.

A profession

Profession includes the particular type of work, followed by particular knowledge and education. With the development of joint stock corporations and multinational firms the ownership and management has been different. Administration of giant organizations has been entrusted in the arms of professionals having specific skill and knowledge.

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