ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

what is MANAGEMENT??

Updated on August 22, 2016

"Management changes can help a lot with timing. If a board of directors is serious about restructuring, they'll often hire someone from a best-in-class company to make it happen. Those people aren't cheap, which shows the board is serious, and the fact that the person is willing to come indicates they think they can add value. An executive from a first-class company taking over a laggard can mean an opportunity is ripe for the picking." - Philip Tasho

"Stock options are inevitably tied to the overall performance of a corporation. Logically, therefore, they should be awarded only to those managers with overall responsibility. Managers with limited areas of responsibility should have incentives that pay off in relation to results under their control. The .350 hitter expects, and also deserves, a big payoff for his performance -- even if he plays for a cellar-dwelling team. And the .150 hitter should get no reward -- even if he plays for a pennant winner. Only those with overall responsibility for the team should have their rewards tied to its results." - Warren Buffett


if you read this Hub, you should be able to describe what management is, why management is important, what managers do and how managers utilize organizational resources efficiently and effectively to achieve organizational goals.

planning with preset objectives

what is management?

It's the process of designing and maintaining an environment in which individuals, working together in groups, to accomplish efficiently selected aims. This basic definition needs to be expanded:

1. planning with preset objectives: Management sets the objective and plans comprehensively to achieve the same. All management activities are object oriented.

(1)
(1)

Group Involvement

2. Group Involvement: management deals with group involvement. The processes have become complex and need specialization. Formal and informal groups do these tasks in an organized manner in full cooperation with each other and achieve goals set up. Managers deal with these groups and make the results effective. Management directs large number employees doing different jobs, prepares job schedules for them and guides them properly.

(2)
(2)

Management is a Process

3. Management is a Process: Management Deals with human efforts is a big way. In this sense it is a social process. Managers perform processes to make optimum use of scarce resources. A decision is taken, means and material are brought together, people are gathered to assist in accomplishment of tasks and results are apportioned. Since human effort is involved in a big way, it is a Social process.

(3)
(3)

Management as a specialization

4. Management as a specialization: Managers are expected to have general knowledge of all those tasks being performed by those working at different levels. It is generalization and yet unique in required skills, knowledge and practice. It is thus different from all other procedures in other spheres.

(4)
(4)

System of authority at all levels

5. It is a System of authority at all levels: Right from the managing Director, down to the supervisor the management techniques are the same. Although the functions are the same, the authority differs. Each one is vested at his level with authority and powers to get work executed through those reporting to them.

(5)
(5)

Profession

6. Profession: Management is now considered as a profession and attracts entry of qualified persons to manage big enterprises.

(6)
(6)

Management is both art and Science

7. Management is both art and Science: Managing, like so many other disciplines - medicine, music composition, engineering, accountancy , or even baseball - is in large measure an art but founded on a wealth of science. It is making decisions on the basis of business realities. Yet managers can work better by applying the organized knowledge about management that has accrued over the decades. Thus, managing as practice is an art, the organized knowledge underlying the practice may be referred to as a science. In this context science and art are not mutually exclusive but are complementary.

As science improves so should the application of this scince (the art) as has happened in the physical and biological sciences.

(7)
(7)

This HUB examines what managers do, the different kinds of managers, and the skills and abilities they must develop to manage their organizations successfully over time. The various functions and roles of managers are highlighted, as well as the impact of information technology (IT) upon the manager's ability to fulfill them. The chapter closes with a discussion of the management challenges created by today's global environment.

Do you think this article is useful?

See results

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)