TOPIC – MANAGEMENT > Concept

> Objective > Importance....

By : Aatman KothariXII “C”

“Management is the art of getting thing through others with formally organized groups”..

Characteristics :

» Goal – Oriented Process – No goal in hand, no need of Management. In other words, we need management only when we have some goals to be achieved.

» Pervasive – Anything minus management is nothing or zero. If we deduct management from any business or non business activity, the result will be failure or zero.

» Multidimensional – It is Three-Dimensional.>Management of work>Management of people>Management of operations

1. Organizational Objectives : It refers to the objectives for the whole organization - While fixing these objectives , management keeps intoconsideration the benefit of all the related parties.

° Survival - Every business wants to survive for long . So ,

Management by taking positive decisions with regard to different business activities should ensure that business should survive for long.

° Profit – profit plays important role in hazards of business . management should ensure that a business earns a sufficient profit.

2. Social Objectives :It refers to the consideration of the interest of society during management activities –An organization is established in a society . It runs through the resources made available by society . That is why it becomes a responsibility for an organization to account for benefit of society.

MAIN SOCIAL OBJECTIVES : * To make available employment opportunities. * To save environment from getting polluted. * To improve standards of living.

3. Personal or Individual Objectives :It refers to objective to be determined with respect to employees of an organization – The employees happen to be prudent and sensitive resource for the company . It is , therefore , highly imperative to take care of the feelings of the employees . It is an undoubted fact that satisfaction of employees is rapid growth of the company .

MAIN PERSONAL OBJECTIVES : •To give deserving remuneration.•To give good working environment.•To provide a share of profit.

Anything – Management = Zero/failure/Nothing¤ Helps in achieving group goals – Needless to say that it is goal-oriented activity . The goals already determined have to be achieved at all costs & its it requires the well-directed efforts of manager to strive hard in achieving goals.¤ Increases Efficiency – A manager increases efficiency through the optimum use of available resources such as MAN,MACHINE, and MONEY.¤ Creates dynamic organization – Every organization works in an ever changing environment . To face the changing environment , many changes need to be made in the company as well.¤ Achieving personal Objectives – Every employee wants to get a suitable remuneration , a share in profit , participation in management , promotion etc.¤ Helps in developing of society – Management has some responsibility towards society . Managers by fulfilling their social resp. helps in development of society . These resp. includes providing employment opportunities , preventing pollution , fair price for commodity etc.