What is Management?
Management is the organization and coordination of the activities of a business in order to achieve definite objectives.
Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization 's resources in order to achieve the
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Management is equally important at the national level. It is an agent of change and economic growth. The prosperity, power and prestige of a nation depend upon the competence and dedication of its managers and administrators.
President Roosevelt of U.S.A. once said: "a government without good management is a house built on sand." Management makes a significant social contribution by supplying goods and services, employment, tax revenue, etc.
According to Ureic and Breach, "no ideology, no 'ism ', no political theory can win a greater output with less effort from a given complex of human and material resources except sound management. And it is on such greater output that a higher standard of life, more leisure, more amenities for all must necessarily be founded." Management is an important organ of an industrial society.
In a developing country like Nigeria , the significance of management can hardly be over emphasized. Higher efficiency and higher productivity is the only hope of the people, more than 60 per cent of whom are living below the poverty line.
A welfare state cannot realize its twin objectives of economic growth and social justice without a well-organized management system. The root cause of Nigeria 's backwardness lies in the underutilization and mystification of the country 's resources.
The most important reason for the poor performance of our
Management is the allocation of scarce resources against an organization 's objective, the setting of priorities, the design of work and the achievement of results. Most important, it 's about controlling.
Management is the basis of how any given organization operates and how each activity preformed is organized that makes each day possible and profitable for the overall good of the company. Power
Management is like the art of science, a group of people making others more effective than they would have been without them (Reh, 2016). These group of people are responsible for guiding and coordinating the efforts of others, which in the end should be able to control and eliminate corruption that maybe within their department or organization before the situation is worsen.
The final function of management is leadership. “Great leaders get extraordinary things done in organisations by inspiring and motivating others towards a common purpose” (Schermerhorn et al 2011, p.316). Management is no longer just
Nigeria suffers from high unemployment and a large portion of the population lives below the poverty line. A significant number of the small and medium enterprises, which constitute over 80
Management is usually the people that hold the business together. Whether it is making schedules, making sure the books are right or even helping out when needed, management is an important aspect of every business. According to Web Finance (2014), “Management is the organization
Management in business is the coordination of people to accomplish set goals efficiently and effectively. It comprises of planning, organising, staffing, leading, and controlling an organisation. Management itself is also an academic discipline, a social science whose object of study is social organisation in order to accomplish a mutual goal.
Management is one of the most important human activities and has critical impact on life, growth, development or destruction of an organisation. In an organisation, managers with any rank or status should understand their basic duties i.e. maintaining a sustainable conductive environment where people can fulfil their commitments and objectives through collaborative approach. (Akhtar, 2011) A manager is responsible to achieve the business’s goals, visions and objectives by planning, organising, leading and controlling. Dubrin (1994) stated that in every organisation each member of staff must plan, organise, make decisions, and control the resources they need to accomplish the results expected
It is controversy issue and a subject for discussion. The concept of Management is wider subject but we are going to focus on two notable aspects, which have the most obvious part of the diversities in management. These two are aspects are
Good Management is about accountability and being able to execute, coordinate and implement programs and policies to ensure that the organization runs smoothly. Also it entails one to constantly be aware of the facts and to have the knowledge and ability to follow-up on all matters pertaining to the organization. In any organization good management calls for continuous due diligence and clear communication that is rooted within each task at hand and providing the tools and resources necessary to help move forward people needs, mission and objectives. However, these functions can become very challenging at times, especially when one has to deal with some unions, and administrations over time. Thus, politics become the absolute determining
During 2003-2007, Nigeria attempted to implement an Economic Empowerment Development Strategy (NEEDS). The purpose of NEEDS is to raise the country’s standard of living through a variety of reforms, including macroeconomic stability, deregulation,
The paper will explore different theories of Management, include Henri Fayol and Henry Mintzberg. This section of this paper provides an overview of functions, roles and skills required of a manager. What is Management? Management can define as the process of reaching organisational goals by working with and through people and other organisational resources. (Management Innovation, 2008).
Just how universal is the need of management in organizations? We can say with certainty that management is needed in all types and sizes of organizations, at all organizational levels and in all organizational work areas, andin all organizations, no matter what country they are
Management can be defined as the art or act of doing things or activities through the efforts of other people to accomplish desired goals. It deals with the organising and coordination of people, activities, materials, machines and money.
Many scientists continue to dedicate their lives to thoroughly examining what management is. However, what is a manager’s role? Their primary aim is organise people, set goals and objectives,