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Characteristics of management, Lecture notes of Industrial management

A short and easily understand notes about characteristics of management,

Typology: Lecture notes

2022/2023

Available from 08/23/2023

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Characteristics of Management: Setting goals for organizations: Goals differ from organization
to organization in business, the basic economic goal is to earn maximum profit, while in service
organization like hospital and educational institution for the basic goal is to provide better
service and better education.
Awareness of opportunities and resources: Management have awareness of opportunities and
resources like men, materials, money which assembles and integrates by management.
Management is transformation process: Management is a transformation process consisting of
planning, organizing, staffing, directing and controlling. Management is universal: The
principles and techniques of management are universally applicable to all group activities
performed at any level of organization.
System of authority: System of authority means a hierarchy of command and control. Managers
at different levels possess varying degrees of authority. Co Ordination: Various human beings
organized in formal groups are endeavoring to achieve the common organizational objectives, so
various departments in the organization must work in harmony with one another.
Management is Dynamic: The ever changing social environment directly and indirectly effect
the group activity thus changing environments provide achallenge to management. Efficient
management can not remain static it must adopt it self to changing conditions.
Management is decision making: The managers are decision makers the marketing managers
decides about how to market, when to market, where to market how to collect Management is a
profession: Management is not only a science but also an art. Art means managers has to handle
the person and things tactfully. Science means achieving objectives through procedures
Importance of Management: “No ideology, no ism, or political the greater output with less
efforts from a given complex of human and materials resource only sound management And it is
on such greater output that a higher standard of life, more leisure, more amenities for all.
Effective utilization of resources: Management tries to make effective utilization of various
resources. The resources are scarce in nature and to meet the demand of the society, their
contribution should be maximum for the general interests of the society. Management not only
decides in which particular alternative a particular resource be used but also takes actions to
utilize it in that particular alternative in the best way.
Development of resources: Management develops various resources. This is true with human as
well as non-human factors. Most of the researches for resource development are carried on in an
organization way and management is involved in those activities.
To incorporate innovations: Today changes are occurring at a very fast rate in both technology
and social process and structure these changes need to be incorporated to keep the organizations
alive and efficient. Therefore, they require high degree of specialization, high level of
competence, and complex technology. All these require efficient management so that
organizations work in the most efficient way.
Integrating various interest groups: In the organized efforts, there are various interest groups
and they put pressure over other groups for maximum share in the combined output. For
example, in the case of business organization, there are various pressure groups such as
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Characteristics of Management: Setting goals for organizations: Goals differ from organization to organization in business, the basic economic goal is to earn maximum profit, while in service organization like hospital and educational institution for the basic goal is to provide better service and better education. Awareness of opportunities and resources: Management have awareness of opportunities and resources like men, materials, money which assembles and integrates by management. Management is transformation process: Management is a transformation process consisting of planning, organizing, staffing, directing and controlling. Management is universal: The principles and techniques of management are universally applicable to all group activities performed at any level of organization. System of authority: System of authority means a hierarchy of command and control. Managers at different levels possess varying degrees of authority. Co – Ordination: Various human beings organized in formal groups are endeavoring to achieve the common organizational objectives, so various departments in the organization must work in harmony with one another. Management is Dynamic: The ever changing social environment directly and indirectly effect the group activity thus changing environments provide achallenge to management. Efficient management can not remain static it must adopt it self to changing conditions. Management is decision making: The managers are decision makers the marketing managers decides about how to market, when to market, where to market how to collect Management is a profession: Management is not only a science but also an art. Art means managers has to handle the person and things tactfully. Science means achieving objectives through procedures Importance of Management: “No ideology, no ism, or political the greater output with less efforts from a given complex of human and materials resource only sound management And it is on such greater output that a higher standard of life, more leisure, more amenities for all. Effective utilization of resources: Management tries to make effective utilization of various resources. The resources are scarce in nature and to meet the demand of the society, their contribution should be maximum for the general interests of the society. Management not only decides in which particular alternative a particular resource be used but also takes actions to utilize it in that particular alternative in the best way. Development of resources: Management develops various resources. This is true with human as well as non-human factors. Most of the researches for resource development are carried on in an organization way and management is involved in those activities. To incorporate innovations: Today changes are occurring at a very fast rate in both technology and social process and structure these changes need to be incorporated to keep the organizations alive and efficient. Therefore, they require high degree of specialization, high level of competence, and complex technology. All these require efficient management so that organizations work in the most efficient way. Integrating various interest groups: In the organized efforts, there are various interest groups and they put pressure over other groups for maximum share in the combined output. For example, in the case of business organization, there are various pressure groups such as

shareholders, employees, government etc. These interest groups have pressure on an organization. Stability in the society: Management provides stability in the society by changing and modifying the resources in accordance with the changing environment of the society. In the modern age, more emphasis is on new inventions for the betterment of human beings. These inventions make old systems and factors mostly obsolete and inefficient. Management provides integration between traditions and new inventions and safeguards, society from the unfavorable impact of these inventions so that continuity in social process is maintained.