What is Management? Management is the science of getting people to work together in achieving a common purpose. It encompasses planning, organizing, directing, and controlling. Often, management is defined as the prime mover of organizational performance. As such, it has been the focus of different eminent scholars. The primary function of management is to allocate finite resources – human, natural, financial, and technological – to achieve a particular goal.
Top managers make decisions for the organization and are ultimately accountable to public bodies and shareholders. They are also often the face of an organization, giving speeches to introduce new strategies and appearing in company marketing and advertising. However, their role in an organization does not end with their position. Management extends well beyond the functional areas of an organization. It includes all aspects of a business, not just the products and services provided by the company. Here are some key roles in management.
As you can see, management is a complex discipline. There are many elements to management, and no two definitions of management are the same. In fact, management includes too many components to fit them into a single formula. Nevertheless, it is becoming more clear that the concept is getting broader, and the various professions within management are trying to define it according to their own predispositions. For example, accountants define management as a set of facts, whereas chemists view it as the use of mixtures.
Management involves directing the activities of people within an organization in a systematic, coordinated, and integrated manner. It involves securing resources and putting them into operation. It also involves monitoring and evaluating performance. Managing organizations has many applications, including the military, research organizations, hospitals, and labour unions. And, as you can imagine, it is an integral part of all organizations. But what does it really mean? And what exactly is the role of management?
During the turn of the twentieth century, the demand for skilled managers increased dramatically, especially in the manufacturing sector. In 1915, fewer than one in every twenty manufacturing firms had a dedicated personnel department. By 1929, that number had increased to one in three. This growth of the business world made it necessary for colleges to provide standardized management education. By expanding access to management education, these schools have also begun to set up corporate placement departments and business schools.
A leader motivates employees to work at their maximum potential. A leader pushes employees to work at a faster pace, while understanding their subordinates and determining the appropriate pace. A manager’s job is to develop assets and establish control over employees. This requires a strong understanding of the needs of their subordinates. This understanding of employees and the organization’s priorities is key to effective management. If these skills are insufficient, a manager will likely fall short of their organizational goals.