It is an act of creating and maintaining such a business environment wherein the members of the organization can work together, and achieve business objectives efficiently and effectively. Nature 4. The management process reduces uncertainty and stabilizes the organisation. And to do so, each individual’s performance and objectives are connected with the overall mission and goals of the enterprise. The list of principles is among the earliest theories of management and it is still one of the most comprehensive one. It consists of a set of interrelated operations or functions necessary to achieve desired organizational goals. Performance Management Definition: Performance Management can be defined as a process which continuously identifies, measures and develops the performance of the workforce in the organization. Very nice for the beginners. As viewed by a sociologist, management is a class-and-status system. Management is a process of designing and maintaining environment in which individuals working together in group, efficiently accomplish selected goals. Thanks a lot. It requires the efficient use of resources combined with the guidance of people in order to reach a specific organizational objective. August – 2020 Edition From there, an appropriate course of action is determined and implemented to attain the company’s goals and objectives. MANAGEMENT: Management has been define in process or activities that describe what managers do in the operation for their organization plan, organize, initiate and … It is the base upon which all other areas of management are built. It is a kind of organized foresight as well as corrective hindsight. April – 2020 Edition Concept of organization 1. Functional concept. The concept and definition of reward management Reward management is defined as “ the strategies, policies and processes required to ensure that the value of people and the contribution they make to achieving organization, departmental Organization is the foundation upon which the whole structure of management is erected. Principles 5. The task of management is to make people work towards achieving the organisation’s goals, by making their strengths effective and their weaknesses irrelevant. 2. Thus, organization is the structure or mechanism that enables living things to work together. The three management levels form the management hierarchy, that represents the position and rank of executives and managers in the chart. Really it is very helpfull in understanding the concept of management. Concept of Organizational culture Meaning of organizational culture: Culture is beliefs and behavior that it is learnt from the other members of the society while the organization culture is the beliefs, customs, value shared by the member of the organization. Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating and controlling, at other times it is used to describe it as a function of managing people. Organization management enables the optimum use of resources through meticulous planning and control at the workplace. Thanks, Many thanks to all the readers for your kind words, it means a lot to us. According to specialists in administration and organization, management is a system of authority. Comments. men, machine, material, money and methods and, this is possible only when there proper direction, coordination and integration of the processes and activities, to achieve the desired results. Significance of Organization: Organisation is the mechanism which determines the relationship of various persons. Concept of Management: One way to analyse management is to think in terms of what a manager does. Concept of Management 2. Management is a group activity: An organisation is a collection of diverse individuals with different needs. < https://businessjargons.com/management.html >, Thanks for blogging. The four management activities included in this process Keep Reading. Fayol’s practical list of principles guided early 20th-century managers to efficiently organize and interact with employees. We hope you liked this article on Concept of Management. Precisely, all the functions, activities and processes of the organization are interconnected to one another. A System View of an Organisation 2 3. Importance. It’s very helpful for the last minute preparations. Definition: Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type, structure and size. Very well done. In simple words Management is the art of getting things done through people. January – 2020 Edition Elaborated in very simple and concise way. Management theorists and practitioners may chose one or two of the five functions as most important, but this is not borne out normatively. This blog is helpful for me…. July – 2020 Edition “Management is the art of getting things done through and with people in formally organized groups.” Koontz has emphasized that management is getting the work done with the co-operation of people working in the organization. I love this, it’s a superb work. Thank you so much. 2. Definition of Organizational Theory 3 4. There may be sudden strategies required to b… June – 2020 Edition Well explained so how do I reference this article in my assignment Harvard style ? 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